Associate Vice President, Strategic Pricing - Personal Lines
At Nationwide, we find purpose in protecting people, businesses and futures with extraordinary care – and we’ve been doing that since 1926. Our financial strength and caring culture extend beyond our associates into the communities we serve. You really can feel the difference at Nationwide, which is why we continue to be named one of the Fortune 100 Best Companies To Work For.
Job Description Summary
Responsible for the management and execution of the strategic roadmap of Personal Lines pricing in coordination with the Actuarial Research and/or Enterprise Analytics Office, as appropriate, inclusive of:
1) intake and portfolio management for all PL pricing continuous improvement and advanced analytics initiatives, 2) PL pricing special projects, 3) filing and implementation of all pricing initiatives, 4) PL pricing analytical tools, data and process management, 5) Liaison with PL finance on annual planning and financial impact of pricing projects.
Leader will partner closely with the PL pricing leaders, product leaders, actuarial research, advanced analytics, EAO, IT and other areas to manage the strategic roadmap and project portfolio.
Develop and maintain a strategic roadmap for PL pricing, in partnership with PL Product, PL Finance/Pricing, Advanced Analytics and P&C Actuarial, inclusive of initiatives to advance and automate the rate making process (net trend, indications), pricing segmentation, annual financial planning and tools and template for the pricing team.
Manage intake of strategic pricing projects and coordinate prioritization across PL Product, PL Finance/Pricing, Advanced Analytics and P&C Actuarial. Develop business cases for projects in partnership with IT and secure funding through annual portfolio funding process. Track and report on progress of projects and benefit realization.
Lead the development and execution of strategic pricing projects for which primary accountability falls within the scope of the PL pricing team (e.g., pricing competitor analysis, expense segmentation, etc.) Coordinate with PL pricing leaders and other areas (e.g., Actuarial Research, IT, EAO), as appropriate.
Coordinate with product, pricing, analytics and actuarial on pricing projects for which primary accountability for 'creation/modeling' sits outside of PL pricing. Partner with pricing and IT teams to file and implement all pricing projects.
Partners with Finance and Field Product to develop operational and strategic plans and forecasts for Personal Lines. Coordinates with finance on projected financial impacts of pricing segmentation / project implementation.
Oversees the development, implementation, and ongoing refinement of analytical tools tools/processes to enhance decision making and evaluate profitability and risk exposure for all PL products. Leads ongoing efforts to automate processes and improve efficiency through the utilization of technology. This includes responsibility for increasing efficiency through current methodology and leading efforts to identify new process/technology solutions including artificial intelligence.
Responsible for PL Pricing data governance strategy, overseeing efforts to enhance data quality, ensuring protection of sensitive data, and representing PL Pricing as a thought leader on data governance related initiatives across the enterprise.
May perform other duties as assigned.
Knowledge, Abilities and Skills:
Strategic thinking - ability to identify needs of the organization and develop a multi-year strategic plan
Partnership / Collaboration - strong demonstrated ability to collaborate across teams and influence to achieve goals
Leadership - ability to attract, hire and develop strong talent
Communication skills - strong verbal and written communication skills, including the ability to build and defend a business case, provide executive level recommendations and reporting
Actuarial / Financial acumen & analytical skills - Demonstrated ability to comprehend/explain actuarial concepts and other advanced technical concepts. Ability to assimilate information and make recommendations based on a combination of factors
Technical skills - foundational knowledge of technology and actuarial data and tools; advanced modeling experience preferred
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.
Typical Skills and Experiences:
Education: Undergraduate studies in actuarial science, business, finance, mathematics, economics, or related field with strong quantitative orientation. Bachelor’s degree preferred.
License/Certification/Designation: Insurance or business related professional designations such as FCAS, ACAS, CPCU desired.
Experience: Typically ten years related experience (pricing, actuarial, product). Prior management experience.
Reporting Relationships: Manages a team of 6 associates.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Locaiton: Columbus, OH or Scottsdale, AZ or Des Moines, IA
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.
3 openings. Employer will assist with relocation costs.
Working at Nationwide is more than a job – it’s a career. Our associates love working here, and it's easy to see why.
As one of America's most diversified financial services companies, we're trusted advisors to our members. We offer a breadth of solutions including home and auto insurance, life insurance, retirement savings tools and more. How do we accomplish it all? By hiring and retaining associates who are as driven and caring as you.