Actuary, Model Risk

Genworth Financial • Richmond, VA

11d • $115,900 - $220,200 • Remote

About The Position

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 or 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 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.

Requirements

• Bachelor’s Degree in a quantitative discipline
• Fellow of Society of Actuaries (FSA) preferred or Associate of the Society of Actuaries (ASA)
• 5-7+ years of relevant experience within the Life, Annuity, or LTC insurance industries
• 3+ years of experience developing actuarial models
• Proficiency in SQL and programming languages such as Python, R, or SAS
• Knowledge of actuarial valuation, projections, experience study, and pricing models
• Familiarity with predictive analytics, statistical techniques, and AI/machine learning models
• Experience with using AI tools to improve processes and boost productivity
• Ability to document models, processes, and validation findings for both technical and non-technical audiences
• Ability to work independently, take ownership of projects, and self-study unfamiliar topics as needed

Nice To Haves

• Master’s Degree in a quantitative discipline
• CERA designation
• Model development experience with Moody’s AXIS and/or MG-ALFA

Responsibilities

• 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

Benefits

• 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

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees