Sr Actuary & Production Leader, Model Development, Long Term Care

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 careand 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

Sr Actuary & Production Leader, Model Development, Long Term Care

POSITION LOCATION

Richmond, VA

Remote US (Eastern or Central Time)

This position is available to Virginia residents as Richmond, Virginia in-office applicants or 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, Virginia, Washington DC, Vermont, West Virginia or Wisconsin.

YOUR ROLE

The Long-Term Care (LTC) Model Development Team is primarily responsible for the development, maintenance and improvement of multi-purpose actuarial models in Moodys AXIS. This role leads a team of actuaries supporting LTC model improvements for Valuation, Projections, ALM, and Inforce Action model functionality. Maintaining a long-term vision, you will manage the quarterly model change process and advance the models toward the desired future state. In addition, you will support other LTC teams such as Experience, Analytics, and Inforce Management that rely upon the actuarial models for their work.

What you will be doing

• Facilitate the quarterly model update cycle for Valuation, Projections, and Inforce Action model functionality.
  • Participate in planning sessions to define scope of quarterly model changes
  • Coordinate the distribution of modeling work among model development team members and monitor progress.
  • Ensure communication with model owners to keep them informed of progress and questions regarding model functionality and results.
• Facilitate the annual ALM model updates to be used for CFT.
• Serve as a subject matter expert for model functionality across all LTC actuarial models.
  • Provide modeling expertise to the team to help ensure model changes are accurate, efficient, and in alignment with overall desired model structure.
  • Use knowledge of AXIS and model capabilities to provide insight regarding current functionality and ideas for the implementation of new functionality.
  • Maintain a vision for the desired future state of LTC models; plan and pursue progress toward this vision.
  • Stay informed of new and upcoming features in AXIS.
• Lead projects to improve model capabilities and work toward a future state, particularly those related to improvements to production processes.
• Work with model users to diagnose and effectively respond to issues that arise in Production processes.
• Supervise a team of 3-4 actuaries and actuarial students.
  • Mentor more junior team members as they gain proficiency using AXIS.
  • Develop team members both from a technical and business acumen perspective; create a collaborative, inclusive and high-performing culture.
• Perform model updates and ad hoc analysis as needed, especially for complex requests.
• Ensure compliance with Genworth model governance and documentation policies and procedures.
• Support product line and corporate initiatives.

What you bring

• BA/BS Degree in Actuarial Science, Mathematics, Statistics or comparable major
• Fellow of the Society of Actuaries or ASA with commensurate experience
• 5+ years relevant actuarial experience
• Strong proficiency with actuarial modeling
• Demonstrated leadership ability; team player
• Excellent written and oral communication skills
• Ability to manage concurrent deadlines and multiple priorities in an organized manner
• Strong problem solving and analytical skills
• Understanding of GAAP (LDTI), Statutory, and Tax financial reporting requirements

Nice to have

• 10+ years relevant actuarial experience
• Strong proficiency using AXIS Software including Datalink
• Long Term Care product experience
• Significant knowledge of LDTI requirements
• Asset modeling experience
• Programming experience, especially SQL, Visual Basic, SAS, Python, and/or MATLAB

Employee Benefits & Well-Being

Genworth employees make a difference in peoples lives every day. Were 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.

For the State of New York: The base salary pay range for this role starts at a minimum rate of $158,600 up to the maximum of $301,500. In addition to your base salary, you will also be eligible to participate in an incentive plan. The incentive plan is based on performance and the target earning opportunity is 25% of your base compensation. The final determination on base pay for this position will be based on multiple factors at the time of this job posting including but not limited to geographic location, experience, and qualifications to ensure pay equity within the organization.