Job description
At Genworth, we empower families to navigate the aging journey with confidence. We are compassionate, experienced allies for those navigating care with guidance, products, and services that meet families where they are. Further, we are the spouses, children, siblings, friends, and neighbors of those that need care—and we bring those experiences with us to work in serving our millions of policyholders each day.
We apply that same compassion and empathy as we work with each other and our local communities. Genworth values all perspectives, characteristics, and experiences so that employees can bring their full, authentic selves to work to help each other and our company succeed. We celebrate our diversity and understand that being intentional about inclusion is the only way to create a sense of belonging for all associates. We also invest in the vitality of our local communities through grants from the Genworth Foundation, event sponsorships, and employee volunteerism.
Our four values guide our strategy, our decisions, and our interactions:
Make it human. We care about the people that make up our customers, colleagues, and communities.
Make it about others. We do what's best for our customers and collaborate to drive progress.
Make it happen. We work with intention toward a common purpose and forge ways forward together.
Make it better. We create fulfilling purpose-driven careers by learning from the world and each other.
POSITION TITLE
Actuary, Model Risk
LOCATION
Richmond, VA
Remote US (Eastern or Central Time Zones)
This position is available to Virginia residents as Richmond, Virginia in-office applicants
*A Hybrid schedule of both Remote and In-Office days is required. In office days are Tuesday, Wednesday and Thursday with working hours targeting our core business hours of 9am-5pm EST.
This position is available to remote applicants residing in states/locations under Eastern or Central Standard Time: Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington DC, West Virginia or Wisconsin.
* A Hybrid schedule of both Remote and In-Office days would be required if you reside within 50 miles of a Genworth | CareScout office with working hours targeting our core business hours of 9am-5pm EST.
YOUR ROLE
As an Actuary and member of the Model Risk Team, you will assess and manage model risk for Genworth's US Life Insurance, CareScout Insurance, CareScout Services businesses, and Genworth’s Investment and Corporate functions. You will lead independent model validations, partner with model owners and business leaders, and help advance best-in-class model risk management practices across the enterprise.
What you will be doing
Lead independent model validations for actuarial, finance, investment, and data science models
Validate that models are fit for purpose and functioning as expected based on their design, input data, methodology, and output
Provide effective challenge on model rationale, reliability, stability, robustness, and limitations
Identify model issues, confirm their resolution, and document validation findings for both technical and non-technical audiences
Collaborate with model owners, developers, and business leaders to deliver independent, value-added model risk management
Assess the enterprise’s inherent and residual exposure to model risk based on its business processes, and risk management strategies
Contribute thought leadership and insights on modeling, model risk management, model controls, and model governance
Improve the efficiency and efficacy of existing model risk management processes
Share industry knowledge, best practices, and notable validation findings with the Model Risk Team
What you bring
Bachelor’s Degree in a quantitative discipline
Fellow of Society of Actuaries (FSA) or Associate of the Society of Actuaries (ASA); FSA preferred
7+ years of relevant experience within the Life, Annuity, or LTC insurance industries
3+ years of experience developing actuarial models in an actuarial software platform (Moody’s AXIS or MG-ALFA/Integrate preferred)
Proficiency in SQL or programming languages such as Python, R, or SAS
Familiarity with actuarial valuation, projections, experience study or pricing models
Interest in adopting and building AI tools to improve how we work
Ability to document models, processes, and validation findings for technical and non-technical audiences
Ability to work independently, take ownership of projects, and self-study unfamiliar topics
Nice to have
Master’s degree in a quantitative discipline
CERA designation
Familiarity with predictive analytics, statistical techniques, or AI/machine learning models
Experience with using AI tools to improve processes and boost productivity
Employee Benefits & Well-Being
Genworth employees make a difference in people’s lives every day. We’re committed to making a difference in our employees’ lives.
Competitive Compensation & Total Rewards Incentives
Comprehensive Healthcare Coverage
Multiple 401(k) Savings Plan Options
Auto Enrollment in Employer-Directed Retirement Account Feature (100% employer-funded!)
Generous Paid Time Off – Including 12 Paid Holidays, Volunteer Time Off and Paid Family Leave
Disability, Life, and Long Term Care Insurance
Tuition Reimbursement, Student Loan Repayment and Training & Certification Support
Wellness support including gym membership reimbursement and Employee Assistance Program resources (work/life support, financial & legal management)
Caregiver and Mental Health Support Services
ADDITIONAL
At this time, Genworth will not sponsor a new applicant for employment authorization for this position.
National Range: $109,00 – 169,000
High-Cost Range (includes New York): $115,900 – $220,200
Disclaimer: This role is aligned to a national market-based pay range. Actual compensation will vary based on geographic location, experience, skills, and other job-related factors. In addition to base salary, this role is eligible to participate in a bonus incentive plan. Incentive compensation is based on individual and company performance and is not guaranteed.
Originally posted on Himalayas
Who can apply
Eligible countries: United States. Accepted UTC offsets: UTC-10, UTC-9, UTC-8, UTC-7, UTC-6, UTC-5, UTC+14. Review the full description for employer-specific work authorization, residency and schedule requirements.