As a team member in the Finance and Internal Audit department at Nationwide, the opportunities are endless! You can grow and learn in diverse areas across many disciplines such as Advanced Analytics, Investments, Actuarial, Accounting, Risk Management, Critical Business Advisor and so much more. Let Nationwide help create your career journey!Job Description SummaryJOB SUMMARY: Directs activities, functions and staff associated in the design, development, implementation, and administration of enterprise risk management (ERM) processes and related issues. Directs and monitors activities related to risk mitigation strategies, opportunities, and analysis. Provides on-going consultation in the areas of risk management, strategies, and solutions to enterprise and business unit senior management Serves as a subject matter expert for ERM processes and related initiatives.
As a team member in the Finance and Internal Audit department at Nationwide, the opportunities are endless! You can grow and learn in diverse areas across many disciplines such as Advanced Analytics, Investments, Actuarial, Accounting, Risk Management, Critical Business Advisor and so much more. Let Nationwide help create your career journey!
Job Description Summary
JOB SUMMARY: Directs activities, functions and staff associated in the design, development, implementation, and administration of enterprise risk management (ERM) processes and related issues. Directs and monitors activities related to risk mitigation strategies, opportunities, and analysis. Provides on-going consultation in the areas of risk management, strategies, and solutions to enterprise and business unit senior management Serves as a subject matter expert for ERM processes and related initiatives.
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Job Description
RELATIONSHIP:
Reports to AVP, VP, or SVP Enterprise Risk Management. May not necessarily have direct reports but may manage several Analysts and Specialists on special projects/studies. Matrix reporting responsibilities may exist in some risk related project scenarios.
JOB RESPONSIBILITIES:
ERM senior consultants provide quantitative and qualitative support and leadership in the development of enterprise risk analysis, optimization, limit setting, and risk monitoring as well as implementing and enhancing processes over time. Emphasis is placed on driving risk management concepts and consciousness throughout the organization, ensuring effective risk-informed decision-making.
- Drives the evolution of Nationwide’s Risk Capacity, Appetite and Limits framework. Expands framework to logically include all significant risk types (market risks, catastrophe risks, operational risks, legal risks, etc.).
2. Enhances/improves existing framework design, driving toward a risk optimization framework (effectively balancing risk and reward). Garners support for framework.
Operationalizes, monitors, and reports on risks both independently and cohesively.
4. Partners with ERM modeling resources to align modeling capabilities with Capacity, Appetite, and Limits framework and other applications as needed.
5. Leads implementation efforts including documentation, training, and communications. Reviews and revises framework with senior management input. Ensures framework is in use and effectively adopted across all major business units and risk types.
6. Directs large-scale enterprise risk management projects. Determines project requirements, timelines, resources, and budget.
7. Performs advanced quantitative and qualitative risk/return analysis as needed to support enterprise and business unit decision-making, driving toward risk optimization.
9. Leads analysis of other corporate transactions from a risk/return standpoint as required, considering impact on aggregate risk profile, RAROC, etc. working with business unit and corporate development groups.
- Performs other related duties as assigned.
JOB REQUIREMENTS:
Education: Undergraduate studies in Finance, Accounting, Economics, Statistics, Mathematics, or related discipline preferred. Graduate level studies in a related field with advanced degree highly desirable.
Designations: CFA, FSAS, or FCAS a plus.
Experience: Typically nine or more years related work experience in Insurance and/or Financial Services industry.
Knowledge: Proven knowledge in modeling concepts and methodologies and ability to interpret results. Advanced analytical skills to resolve the most complex risk management problems. Excellent project management skills.
Skills/Competencies: Advanced communication skills for verbal and written contact with Finance and Business Unit leadership. Presentation skills. Project management concepts and techniques. Ability to understand the big picture while maintaining the technical, statistical, and financial skills that are necessary to understand all levels of detail. Capable of working collaboratively with while building support across a range of businesses and functional areas. Passion to produce results and desire to be accountable and take ownership.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
JOB CONDITIONS:
Overtime Eligibility: Not Eligible (Exempt).
Working Conditions: Normal office environment.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
Job Evaluation Activity: Evaluated August 2009 KCP/SO
