[Hiring] Associate - Portfolio Credit Risk Modeling @Nationwide

Role Description

Join a high-impact team at the forefront of investment risk management. You will lead the development of a multi-year stochastic credit risk model and deliver a production-ready solution to support specialty finance underwriting. Over time, this role will expand to influence pricing of other products, such as annuities. You'll collaborate across a wide range of teams, develop analytical solutions, and help Nationwide build out its specialty finance capabilities.

We're looking for someone experienced in structural credit risk modeling who is intellectually curious, eager to learn, and excited to work on meaningful challenges.

Responsibilities

• Work closely with the specialty finance team and asset managers to fully develop a Merton-approach, multi-year stochastic credit risk model for corporate bonds, commercial mortgage loans, and structured assets.
• Conduct research on credit default history and credit risk cycles; set proper assumptions and clearly define model scope and limitations.
• Design and execute comprehensive model validation.
• Build analytical frameworks that link assumptions, inputs, and outputs to interpret modeling results clearly.
• Develop and guide junior-level credit risk analysts; strengthen the credit risk modeling function into a competitive advantage.

Qualifications

• Experience in portfolio credit risk modeling, such as single-factor models, Merton models, and Gaussian copula frameworks.
• Deep insight into credit default and migration behavior - credit risk cycles, rating migration dynamics, default probabilities, and loss recovery experience.
• Strong understanding of asset and risk characteristics across corporate bonds, commercial mortgage loans, and structured assets.
• Proven modeling and programming skills (Python, MATLAB, or similar) in developing Monte Carlo simulation models.
• Working knowledge of insurance investment portfolio risk and statutory capital frameworks.
• 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 actuarial credentials (FSA/FCAS).

Requirements

• 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. However, applications from candidates working remotely who bring critical industry skills and relevant experience may be considered.

Benefits

• Medical/dental/vision.
• Life insurance, short and long term disability coverage.
• Paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date.
• Nine paid holidays.
• 8 hours of Lifetime paid time off.
• 8 hours of Unity Day paid time off.
• 401(k) with company match.
• Company-paid pension plan.
• Business casual attire.
• And more.