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　　Job Description Summary

　　The AVP Actuary (Life) is responsible for the calculation of reserves, DAC/VOBA, and other actuarial values for statutory, GAAP, and tax accounting for individual life and NBSG products. The AVP oversees the management of actuarial systems and processes that are used to calculate such values and is the model executive responsible for model risk management activities related to life valuation models. This role also must monitor emerging regulations and accounting rules from the NAIC, FASB, and other bodies (influencing their final form through regulators and industry groups) and then interpret/apply new rules as they occur. In addition, the AVP actuary is responsible for maintenance & reporting of in force reinsurance and developing recommendations for reinsurance strategies. This role also oversees the Illustration Actuary Testing process. The AVP actuary works closely with the CFO-Life, VP-Chief Actuary, AVP -Appointed Actuary, AVP/VP Controllership, assumption council, model risk management and other groups. The AVP supports internal/external auditors and performs financial controls.

　　Job Description

　　Key Responsibilities: 

　　Responsible for calculation of actuarial values and their underlying modeling systems and processes for all life insurance products (including NBSG). 

　　Work with vendors and consultants as required to ensure systems and accounting methods are properly calculating actuarial values. 

　　Assist in the forecasting of future financial impacts and/or the impact of changes in assumptions and communicate with NW Finance stakeholders. Manage the setting of Dividends. Monitor regulatory activities pertaining to valuation through participation in industry work groups, conferences, business contacts and other means. 

　　Influence the direction of future accounting rules where possible. Measure the financial impact of proposed changes and communicate to management. 

　　Communicate directly with regulators as needed through written communications and face-to-face meetings where necessary. 

　　Advise product development and pricing on the accounting requirements underlying new and existing products to ensure proper pricing and risk management. Recommend design strategies or other solutions to optimize capital usage and business return. 

　　Design financial reporting controls as needed and oversee the control performance by his/her team. 

　　Work closely with internal and external auditors, NF controllership, and others in the performance of accounting and model governance. 

　　Support the measurement of financial risks and risk management strategy arising from actuarial assumptions, models, and the underlying risks of life products. 

　　Key driver of the assessment, implementation, and maintenance of reinsurance strategies. Oversees the annual Illustration Actuary Testing process and performs responsibilities as the Illustration Actuary. Advises and supports capital management as necessary. Serves as model executive for all valuation, reinsurance, and illustration models and ensures compliance with Enterprise Model Risk Management requirements. 

　　Manage staff of approximately 10 actuaries and technicians. Support talent recruiting and development for the NF Actuarial job family. Oversees associate management including performance management, salary planning and administration, training and development, workflow and organization planning, day-to-day management, hiring and placement, and disciplinary actions for direct and possibly indirect reports.  

　　May perform other responsibilities as assigned.

　　Reporting Relationships: Reports to CFO-Life, with a matrix reporting relationship to the VP-Chief Actuary. Manages a team of approximately 10 actuaries and technicians most of whom have professional FSA and MAAA designations.

　　Typical Skills and Experiences: 

　　Education:  BS or higher degree in Mathematics, Actuarial Science, or related technical fields.

　　License/Certification/Designation:  AVP role requires FSA and MAAA designations.

　　Experience:  10 years of actuarially related experience is preferred. 3 years experience with life product designs and accounting is required.  Prefer 2+ years of managerial experience.

　　Knowledge, Abilities and Skills:  Extensive experience with actuarial modeling and accounting software such as Polysystems, ALFA, GGY AXIS, or similar is required.

　　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.

　　Values:  Regularly and consistently demonstrates Nationwide Values.

　　Job Conditions: 

　　Overtime Eligibility: Not Eligible (Exempt)

　　Working Conditions:  Normal office environment.  Some travel may be required.

　　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. 

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