Location: Americas

Please see job role.

Do you have the desire to analyze data and perform groundbreaking research to drive business outcomes? Nationwide has been using data to serve our members and drive business outcomes for almost 100 years. Our industry-leading workforce adopts an agile work environment and a collaborative culture to deliver outstanding solutions and results. Our Risk Analytics Researchers play a key role in harnessing the power of data to deliver business results. Specifically, they are responsible for modeling sophisticated problems, discovering insights and identifying business opportunities from data using a variety of techniques from mathematics, actuarial studies, statistics, data science and financial engineering.

Critical senior level actuarial modeling role to drive asset modeling development and execution in Moody’s AXIS or MG-ALFA. Support valuation, forecasting, pricing, and risk management. Provide technical expertise to modeling methodologies. Drive implementation of complex asset types and investment strategies, oversee annual asset adequacy testing, and mentor team members. This role offers great visibility to senior leadership, opportunities for career growth, and flexible work arrangements. Supportive, respectful work environment with strong commitment to professional development.

Do you have the desire to play a critical role in driving data-based business outcomes? Nationwide has been using data to serve our members and drive business outcomes for almost 100 years. Our industry-leading workforce accepts an agile work environment and a collaborative culture to deliver outstanding solutions and results. Our Risk Analytics professionals play a key role in transforming quantitative data analysis into meaningful insights that drive business results. Specifically, they serve as the conduit joining quantitative risk analysts to business partners.

As a Senior Consultant, you’ll be responsible for the creation and management of risk analytics projects to solve business problems and objectives. You’ll work strategically and consultatively with business partners across the organization to match quantitative analysis with business needs. We’ll count on you to be the key point of contact, linking business to technical research. It’s imperative that you have both a confirmed understanding of quantitative analytics and that you are able to expertly articulate solutions to many levels of leadership.

Job Description

Key Responsibilities:

• Understands and assesses key business needs. Proactively owns the strategic development of appropriate quantitative modeling solutions.
• Collaborates with organizational departments or business functions to accomplish strategic goals, objectives, and initiatives.
• Builds risk analytic strategies for business problems through collaborating, consulting and driving expectations.
• Leads in the understanding and analysis of models across the enterprise to ensure that model assumptions, processes and outputs are well understood and that modeling standard methodologies are upheld.
• Crafts clear and concise summaries of findings and recommendations. Uses impactful storylines and data visualization geared to both technical and non-technical audiences.
• Drives business value through crafting and communicating strategic business solutions to leaders.
• Leads all aspects of development, testing, implementation and administration of quantitative modeling processes and tools.
• Evaluates and ranks quantitative solutions to business problems.
• Leads communication of the key benefits and limitations of sophisticated modeling tools for business applications.
• Leads governance of modeling tools and ensures they are applied consistently.

At Fitch, we have an open culture where employees are able to exchange ideas and perspectives, throughout the organization, irrespective of their seniority. Your voice will be heard allowing you to have a real impact. We embrace diversity and appreciate authenticity encouraging an environment where employees can be their true selves. Our inclusive and progressive approach helps us to keep a balanced perspective.  Fitch is also committed to supporting its employees by advancing conversations around diversity, equity and inclusion.  Fitch’s Employee Resource Groups (ERGs) have been established by employees who have joined together as a workplace community based on similar backgrounds or life experiences.  Fitch’s ERGs are available to connect employees with others within the organization to offer professional and personal support.

With our expertise, we are not only creating data and information, but also producing timely insights from every angle to influence decision making in this ever changing and highly competitive market. We have a relentless hunger to innovate and unlock the power of human insights and to drive value for our customers. There has never been a better time to make an impact and we invite you to join us on this journey.

Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights we provide have helped fund a century of growth and enables you to make important credit judgments with confidence.

The Model Validation Group (MVG) is currently seeking a model validation analyst at Analyst or Senior Analyst level based out of our Toronto office.

The MVG is part of the Criteria Review and Approval Group which reports to the Chief Risk Officer. The core objective of the department is to ensure the quality and consistency of Fitch’s rating criteria and models. The MVG team focuses on reviewing and validating all models used in the credit rating analysis across Fitch Ratings and works closely with the Criteria Officers to review and approve criteria.

What We Offer:

• Gain valuable credit modeling and validation experience, along with a good understanding of related credit products, their rating methodology, and criteria.
• Develop a solid knowledge of model governance practices and the regulatory environment.

We’ll Count on You To:

• Review and validate a wide range of credit rating models, such as default models, cashflow models, capital models, and regression models, covering asset classes including ABS, CMBS, Covered Bonds, RMBS, Structured Credit, Corporates, Financial Institutions, Insurance, and Sovereigns.
• Review model codes and documentation, build replica models, design and execute comprehensive testing (conceptual soundness, performance/back-testing, sensitivity analysis, benchmarking).
• Discuss review outcomes and observations with the model owners, developers, and Criteria Officers.
• Write high-quality validation reports and memos aligning with internal standards and applicable regulatory expectations.
• Contribute to enhancements in validation approaches, testing framework, and automation tools.

What You Need to Have:

• Master’s degree in quantitative disciplines or finance.
• 0-3 years of experience in financial modelling/analysis.
• Capability to explain and communicate model review observations and model technical aspects clearly to technical and non-technical audiences.
• Self-motivation with an ability to manage timelines across multiple projects.
• Thorough attention to detail.
• Strong work ethic.

What Would Make You Stand Out:

• Demonstrated proficiency in programming in Python, R, VBA for quantitative statistical analysis. Familiarity with common libraries (e.g., pandas, NumPy/SciPy, scikit-learn) and Python object-oriented programming.
• Previous exposure to credit rating analysis or cash flow modelling
• Understanding of model risk management practices
• A Certificate in Quantitative Finance (CQF)

You’ll be trained to own and operate multiple Tier 1 quantitative risk and capital models that support our Capital, Appetite, and Limit (CAL) framework. Your responsibilities will include:

• Develop new quantitative models that support asset risk analytics and product underwriting. Translate strategic priorities into operational reality. Enable efficient modeling for production and ad-hoc analysis purposes.
• Own the operation, maintenance, and continued improvement of the Tier 1 fixed income credit risk model.
• Own the operation, maintenance, and continued improvement of the Tier 1 equity/alternative asset risk model.
• Drive quarterly capital adequacy tests. Support enterprise target capital framework and ad-hoc stress test.
• Support investment risk analytics and governance. Provide modeling insights for investment risk budget and sector guidelines. Enhance portfolio risk modeling and management.
• Partner with Model Risk Management on model validation and governance.
• Prepare risk reporting to executive committees, including the Board, EFRC, and ERCR.

This role does not qualify for employer sponsored work authorization. Nationwide does not participate in the STEM OPT extension program.

It is our intention to fill this role in Columbus, OH. The hired associate must reside within 35 miles of One Nationwide Plaza, Columbus OH, 43215.

Internal Compensation Grade: G5

 

Required Education/Experience/Skills:

• Strong quantitative modeling skills with proficiency in Python for statistical and data analysis.
• Solid understanding of economics and investment asset classes.
• Proficiency with Microsoft Excel.
• Strong communication skills and the ability to articulate complex modeling concepts to senior leaders.
• Preferably 5+ years of experience in quantitative risk modeling.
• Preferred professional designations (or progress toward them): CFA, FRM, or FSA.

 

Job responsibilities:

• Partner with a broad range of organizational stakeholders in designing, elaborating, testing, analyzing, advancing and/or maintaining one or more financial methodology standards under coverage.
• Provide ongoing research, testing, industry benchmarking and continuous communication with the lines of business regarding upcoming changes and pro-forma impacts.
• Execute against the team’s stated Roadmap towards best-in-class financial methodologies and proposed financial management target-state systems, including financial resource allocation targets across Lines of Business and other strategic initiatives.
• Coordinate and communicate with key stakeholders across Corporate Treasury, Model Risk, Controllers, and others, to stay abreast of regulatory, accounting or modeling changes that may have broad enterprise implications; and provide independent perspective on Client and Business Profitability implications to internal partners and Line of Business stakeholders.
• Lead governance and/or working group routines as the SME of enterprise methodologies for specific standards, adopting considerations and concerns by stakeholders, ensuring proper handoff to stakeholders and integration teams when applicable.
• Demonstrate strategic thinking, collaborative demeanor, proactive behavior and maintain stakeholders on-topic to drive decisioning.
• Use excellent interpersonal, organizational, and communication skills, including the ability to think clearly and articulate nuanced information in a concise and effective manner to a wide variety of audiences.
• Demonstrate ability to prioritize well in a dynamic environment and deliver solution-oriented work that reflects independent and proactive consideration of issues.
• Gather data and perform analysis to properly test and validate proposals, understand and summarize Business Unit and Segment-level implications and communicate effectively with stakeholders.
• Develop and update documentation around financial methodologies and frameworks, and onboard new stakeholders as needed.
• Prepare executive documents or presentations to include design, considerations, implications, key findings and recommendations.
• Lead or support other ad-hoc projects or analyses as needed by executive and senior management.

Required Qualifications:

The requirements listed below are representative of the knowledge, skills and/or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• 7-10 years of financial services, banking, and/or management consulting trajectory, with experience in Treasury, Financial Risk Management, FP&A or similar roles.
• Familiarity with banking balance sheet products and concepts (e.g., institutional and retail loan structures, exposures, collateral) and core lines of business.
• Experience in one or more key bank measurement systems (e.g., product or client-level cost allocation, cost taxonomies, regulatory/economic capital, FTP); or financial modeling (e.g., credit risk models, complex financial statement modeling, balance sheet optimization).
• Basic understanding of financial performance management theory and practice (e.g., Cost of Capital, RAROC, EVA, SVA).
• Working knowledge of standard bank regulatory metrics under Basel framework (e.g., RWA, CET1, TLAC, LCR, NSFR) and implications for enterprise-wide and instrument-level financial resource management considerations.
• Knowledge of theoretical and applied accounting and finance concepts and techniques (e.g., cash flow models, loan pricing, cost analysis, etc.), including the ability to perform select calculations of various financial instruments’ performance and cash flows.

Preferred Qualifications:

• Master’s degree in business, finance, business analytics, mathematics, or other quantitative field and/or completion, or demonstrated progress toward, a relevant certification (e.g., CFA, CPA, FRM, CQF, CTP).
• Previous experience in Corporate Finance, Treasury, Capital Management and Optimization, Financial Risk Management, Corporate Development, Transaction Advisory or Investment Banking; or in-depth experience with wholesale and/or retail credit products in a credit, pricing, structuring or finance role.
• Experience engaging with LOB or client teams in a negotiating and/or advisory capacity to discuss technical matters relevant to the financial services industry.
• Experience supporting initiatives across multiple functional groups.
• Experience presenting in formal forums (e.g., ALCO, Risk committees) and/or driving formal routines with senior stakeholders.
• Experience in a review and challenge role.
• Strong in Excel and PowerPoint.
• The following skills are not required to perform current job duties but will be considered a plus: understanding and basic experience implementing ad hoc scripts with SQL and/or Python; VBA experience; mastery of any advanced data tools.