Associate Actuary

POSITION TITLE

Associate Actuary

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 (e.g., inclement weather), this role may be required to work remotely.

YOUR ROLE

The Cashflow Projections team is responsible for creating and maintaining efficient processes and controls for the best estimate cashflows, as well as understanding and explaining the movements to support the reporting process in LTC business. The role works closely with the modeling, valuation, rate action, and finance teams to generate projection results covering a range of production and ad hoc analyses requirements which use AXIS/SAS/other IT platforms.

YOUR RESPONSIBILITIES

• Produces best estimate projections of cashflows for LDTI and cashflows and reserves for cash flow testing, as well as various ad hoc projections for other critical management requirements utilizing AXIS/SAS/other IT platforms.
• Generates business requirements for model and assumption changes, performs peer review documentation, and exercises other important control processes regarding model projections.
• Produces and analyzes annual assumption update impact on the LTC business block for CFT including liability and asset cash flows.
• Ensuring controlled, validated, and well-documented best estimate projection base model for each production cycle.
• Reviewing and analyzing best estimate projection base outputs for any additional sensitivities with assumptions and data source inputs in order to explain variances to various associated teams, as well as to improve the accuracy of best estimate projections.
• Supporting the production cycle of valuation close processes using AXIS/SAS/other IT platform.

YOUR QUALIFICATIONS

• BS/BA Degree in Actuarial Science, Mathematics, Statistics and/or related major
• ASA Certification
• 2+ Years of experience in the actuarial field
• Experience with Actuarial valuation systems (i.e. AXIS, Polysystems, PTS, ALFA)
• Understanding of GAAP, Statutory and Tax financial reporting requirements
• Strong communication skills
• Ability to manage concurrent deadlines and multiple priorities

PREFERRED QUALIFICATIONS

• Prior LTC insurance experience
• Modeling experience, preferably AXIS
• Strong proficiency in a programming language such as Python, SAS, R
• Experience with data visualization software such as Spotfire or PowerBI

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
  • Generous 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. (NYSE: GNW) is a Fortune 500 provider of products, services and solutions that help families address the financial challenges of aging. Headquartered in Richmond, Virginia, we apply our nearly 150 years of experience each day to helping people navigate caregiving options and fund their long term care needs. Genworth is also the parent company of publicly traded Enact Holdings, Inc. (Nasdaq: ACT), a leading U.S. mortgage insurance provider. For more information on Genworth, please visit https://www.genworth.com/. From time to time Enact separately releases financial and other information about its operations. This information can be found at https://ir.enactmi.com/.

USLI

The mission of Genworth's US Life business is to efficiently keep our promises to our customers and their families and to lead the industry forward to solve the nation's long term care crisis.

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 diversity, 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.