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Nationwide Finance

Enable financial security across America through protection solutions by becoming the most trusted financial protection partner for our members

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Enable financial security across America through protection solutions by becoming the most trusted financial protection partner for our members

Strengths

  • REPUTATION: 97-year history with strong brand recognition as trusted insurer
  • CAPITAL: Exceptional financial strength with A+ ratings from AM Best
  • DIVERSIFICATION: Broad portfolio across insurance, retirement, investments
  • TECHNOLOGY: $700M+ digital transformation initiative showing positive ROI
  • TALENT: High-performing finance team with 92% retention rate

Weaknesses

  • AGILITY: Legacy financial systems slowing financial reporting cycles
  • ANALYTICS: Insufficient real-time data analytics capabilities for forecasting
  • AUTOMATION: Manual processes in 40% of core financial operations
  • INTEGRATION: Siloed financial systems across business units
  • TALENT: Skill gaps in emerging technologies and digital finance tools

Opportunities

  • TECHNOLOGY: AI implementation to enhance financial forecasting accuracy
  • DIGITIZATION: End-to-end process automation to reduce operational costs
  • ANALYTICS: Advanced data analytics to identify revenue optimization
  • PARTNERSHIPS: Fintech collaborations to accelerate innovation
  • ESG: Integrating sustainability metrics into financial reporting

Threats

  • COMPETITION: Insurtechs disrupting traditional financial models
  • REGULATION: Increasing compliance costs and reporting requirements
  • CYBER: Growing sophistication of financial fraud and security threats
  • ECONOMY: Inflation pressures and market volatility affecting investments
  • TALENT: Intensifying competition for specialized finance professionals

Key Priorities

  • MODERNIZATION: Accelerate financial systems transformation
  • ANALYTICS: Develop real-time data insights and predictive capabilities
  • AUTOMATION: Implement AI-driven process automation across finance
  • TALENT: Upskill finance team in digital and analytical capabilities
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Enable financial security across America through protection solutions by becoming the most trusted financial protection partner for our members

TRANSFORM SYSTEMS

Modernize our financial infrastructure for agility

  • MIGRATION: Complete cloud migration of 3 core financial systems with 99.9% uptime by Q3
  • INTEGRATION: Implement API framework connecting 8 financial systems reducing reporting time by 40%
  • AUTOMATION: Deploy RPA for 5 high-volume financial processes achieving 60% time reduction
  • PERFORMANCE: Reduce month-end close cycle from 8 days to 4 days while maintaining 100% accuracy
POWER INSIGHTS

Deliver data-driven financial intelligence

  • ANALYTICS: Launch real-time financial dashboard with 15 KPIs for executive leadership team
  • FORECASTING: Implement AI-driven forecasting model achieving 85% accuracy for quarterly projections
  • VISUALIZATION: Deploy interactive financial reporting tools to 250+ business stakeholders
  • METRICS: Establish 12 cross-functional financial metrics aligned with company strategic objectives
AUTOMATE CORE

Drive efficiency through intelligent automation

  • PROCESSES: Automate 70% of accounts payable workflow reducing processing costs by 45%
  • REPORTING: Implement automated financial reporting for 8 compliance requirements saving 120 hours monthly
  • RECONCILIATION: Deploy AI-powered account reconciliation reducing manual effort by 60%
  • EFFICIENCY: Increase straight-through processing rate from 65% to 85% for core transactions
ELEVATE TALENT

Build the finance team of the future

  • SKILLS: Train 100% of finance staff on digital finance fundamentals with 90% certification rate
  • SPECIALISTS: Recruit and onboard 5 data science specialists dedicated to financial analytics
  • DEVELOPMENT: Launch financial technology rotation program for 15 high-potential team members
  • CULTURE: Achieve 85%+ positive response rate to digital adoption survey among finance staff
METRICS
  • REVENUE GROWTH: 8% YoY for FY2025
  • AUTOMATION RATE: 70% of core financial processes
  • FORECAST ACCURACY: 85% accuracy for quarterly projections
VALUES
  • Integrity and Accountability
  • Member Focus
  • Innovation and Adaptability
  • Financial Discipline
  • Collaboration and Inclusivity
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Align the learnings

Nationwide Finance Retrospective

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Enable financial security across America through protection solutions by becoming the most trusted financial protection partner for our members

What Went Well

  • PERFORMANCE: Achieved 6.2% revenue growth, exceeding market expectations
  • EFFICIENCY: Reduced operational expenses by 3.8% through initial automation
  • REPORTING: Shortened financial close process by 2 days through system upgrades
  • COMPLIANCE: Successfully implemented new regulatory reporting requirements

Not So Well

  • FORECASTING: Quarterly forecasts deviated from actuals by average of 12%
  • SYSTEMS: Legacy system integration delays impacted cross-functional reporting
  • ANALYTICS: Limited real-time financial insights for business decision-making
  • AUTOMATION: Manual processes still account for 40% of finance team workload

Learnings

  • INTEGRATION: Cross-functional collaboration critical for system modernization
  • AGILITY: Need for more flexible financial planning tools in volatile markets
  • TALENT: Digital finance skills becoming essential across all finance roles
  • DATA: Data quality improvement must precede advanced analytics initiatives

Action Items

  • ROADMAP: Develop phased approach to finance transformation with clear ROI
  • UPSKILLING: Implement financial technology training program for all staff
  • AUTOMATION: Identify and prioritize top 5 processes for immediate automation
  • ANALYTICS: Launch dashboards providing real-time financial KPIs to leadership
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Enable financial security across America through protection solutions by becoming the most trusted financial protection partner for our members

Strengths

  • FOUNDATION: Established AI Center of Excellence with executive support
  • INVESTMENT: $50M allocated for finance AI initiatives over next 3 years
  • TALENT: Core team of data scientists and financial analysts established
  • PILOT: Successful AI forecasting pilot showing 35% accuracy improvement
  • INFRASTRUCTURE: Cloud-based data lake implemented for AI applications

Weaknesses

  • INTEGRATION: Limited AI integration with core financial systems
  • DATA: Inconsistent data quality across business units limiting AI value
  • SKILLS: Only 25% of finance staff trained in AI/ML applications
  • GOVERNANCE: Incomplete AI governance and risk management framework
  • ADOPTION: Resistance to AI-driven process changes among stakeholders

Opportunities

  • FORECASTING: AI-enhanced predictive financial models for 2x accuracy
  • AUTOMATION: 70% reduction in manual reporting through AI implementation
  • INSIGHTS: AI-driven anomaly detection for risk and fraud prevention
  • EFFICIENCY: AI chatbots for internal financial queries and reporting
  • STRATEGIC: AI-powered scenario planning for capital allocation decisions

Threats

  • COMPETITION: Competitors further along in AI finance transformation
  • REGULATION: Evolving AI governance requirements increasing complexity
  • TALENT: Difficulty attracting specialized AI finance talent
  • ETHICS: Potential AI bias in financial decision-making processes
  • ROI: Uncertain return on AI investments in short term

Key Priorities

  • UPSKILLING: Launch comprehensive AI training program for finance staff
  • INTEGRATION: Accelerate AI integration with core financial systems
  • GOVERNANCE: Establish robust AI ethics and governance framework
  • AUTOMATION: Implement AI-driven automation for high-volume processes