Director & Actuary, Model Risk
Employer
- Genworth
Job Description
POSITION TITLE
Director & Actuary, Model Risk
LOCATION
Richmond, VA or Remote
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.
At Genworth, we are committed to caring for our customers and for the safety of our colleagues. In the event the office is inaccessible (i.e. Inclement Weather), this role may be required to work remotely.
YOUR ROLE
The Model Risk Team manages model risk for Genworth's US Life Insurance division, Investment function and Corporate segment. You will assess model risk, lead model validations, provide thought leadership on model risk and modeling techniques and provide technical guidance to the modeling community and Model Risk Team.
YOUR RESPONSIBILITIES
Assesses model risk through understanding of actuarial process and controls, data sources and transformation, assumption development and implementation, model development, model governance, and the model inventory
Lead model validations for actuarial and other quantitative models
Establish and cultivate relationships with model owners, other functions and the businesses
Provide independent assessment of remediated model issues, model documentation, model inputs (data and assumptions), model processing and calculations, interactions among models and tools, model output (to final reporting), and model controls and the control environment
Evaluate, and provide effective challenge of: model rationale, reliability, stability, and robustness
Draw independent conclusions on model issues for remediation and a model’s “fit for purpose”
Collaborate with model owners, other functions and the businesses to deliver independent and value-added model risk management
Provide thought leadership and insights on actuarial best practices for model risk, model validation, modeling techniques, model governance and controls
Demonstrate leadership on the team and provide guidance and mentorship to more junior staff
YOUR QUALIFICATIONS
7 + years of relevant Actuarial or Risk experience within the insurance industry
5 + years’ experience in building and improving actuarial models (in GGY AXIS or another platform)
Fellow of Society of Actuaries (FSA) designation or Associate (ASA) with commensurate experience
Knowledge of actuarial processes: valuation, projections, experience and pricing
Knowledge of model risk, model validation and modeling techniques
Results oriented, accountable for performance, and willingness to take ownership of projects
ADDITIONAL QUALIFICATIONS
Experience validating actuarial models
CERA certification or an advanced degree in a quantitative discipline
Advanced proficiency in multiple actuarial modeling platforms and modeling languages
Familiarity with actuarial models in the LTC, Life and Annuity businesses
WHY GENWORTH?
We have a real impact on the lives of the people we serve
We work on challenging and rewarding projects
We give back to the communities where we live
We offer competitive benefits including:
Medical, Dental, Vision, Flexible Spending Account options beginning your first day
20 days of Choice Time Off your first full year
12 Paid Holidays
40 hours of volunteer time off
401K Account with matching contributions
Tuition Reimbursement and Student Loan Repayment
Paid Family Leave
Child Care Subsidy Program
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.
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Location
Richmond, VA
-
Date Posted
900 days ago
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