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Director & Actuary
Genworth Financial
Richmond, VA, United States
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POSITION TITLE
Director and Actuary, Model Validation
LOCATION
Richmond, VA
YOUR ROLE
As a member of the US Life Insurance (USLI) Model Validation team, you will have an excellent opportunity to be part of a high-caliber team responsible for collaborating across business platforms to validate models for the USLI division, Investment function and Corporate segment. Your expertise will be essential in order to work as part of this team to understand, scope, challenge, validate and report out for certain critical models within the USLI and Corporate areas.
YOUR RESPONSIBILITIES
Lead the validation of certain critical models at Genworth:
• Provide independent assessment of certain critical models (within USLI and Corporate areas) by reviewing model assumptions, data sources, mathematical formulas, processes, and business applications
• Provide an independent view on model reliability, stability, and robustness, and if the model is “fit for purpose”, including whether assumptions were appropriately implemented
• Collaborate with various stakeholders including members in Modeling, Risk, Actuarial, Finance, Audit, and IT teams
• Communicate the validation results to modeling teams, senior leadership, and appropriate governance committees
• Follow up on findings/recommendations to ensure they are implemented appropriately and in a reasonable timeframe
• Research available state-of-the art modeling solutions and leading industry practices, and share best practices across different platforms
YOUR QUALIFICATIONS
• BA/BS Degree in mathematics, statistics and/or related major including Mathematical knowledge, skills and abilities
• FSA/near FSA or career ASA with commensurate experience
• 5 + years of relevant work experience within insurance industry
• Proven modeling & analytical skills
• 3 + years of direct experience in building and improving models (in SAS, MATLAB, Polysystems, ALFA, AXIS, etc.)
• Knowledge of Valuation, Projections, Experience and Pricing actuarial processes
• Intellectual curiosity and capability
• Strong communication skills (verbal and written)
• Ability and willingness to challenge and influence the business in a highly collaborative way
• Willingness to collaborate, and share ideas and knowledge with the team
• Ability to work independently with minimal supervision
• Results oriented, accountable for performance, and willingness to take ownership of projects
ADDITIONAL QUALIFICATIONS
• Familiarity with critical models in Long Term Care insurance, Life insurance and/or Annuities
• Advanced proficiency in more than one modeling platform (e.g., SAS, MATLAB, Polysystems, ALFA, AXIS, etc.)
• Master’s Degree in a quantitative discipline
• Chartered Enterprise Risk Analyst (CERA) certification
COMPANY
Genworth Financial, Inc. is a leading insurance holding company committed to helping families achieve the dream of home ownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871.
The mission of Genworth’s US Life business is to develop solutions that meet the financial challenges of aging, including individual and group long term care insurance, annuities, life insurance and new innovative products over time.
We know we can’t deliver on our mission unless we deliver for our employees. That’s why we’re committed to creating a work environment that fosters inclusion, camaraderie, rewarding work, community involvement, and a focus on our employees’ well-being. We know each employee contributes in their own unique way and we’re dedicated to supporting every one of them to help them reach their full potential.