Valuation Actuary

POSITION TITLE

Actuary, Variable Annuity Valuation

LOCATION

Richmond, VA or Remote

YOUR ROLE

Calculating and holding appropriate reserves and projecting future cash flows is crucial to Genworth's ability to ensure it will be able to pay benefits to our policyholders when they need them the most, now and in the future. This role supports the actuarial department by overseeing/reviewing/performing valuation work and key projections processes related to the variable annuity block. As an actuary, you will be responsible for reviewing/overseeing tasks to calculate the block's reserves, being involved in key projection processes, participating in/leading projects and supporting the variable annuity leader in other capacities.

YOUR RESPONSIBILITIES

• Oversee/Lead/Perform the preparation, analysis, and review of valuation and projections results in a controlled environment
• Create summaries of results and explanations around the drivers of business results
• Prepare and peer review annual statement information and VM31 PBR report.
• Manage a small number of junior staff on the team.
• Support process improvements; including new regulatory requirements, accounting standards, and financial reporting controls.
• Support other initiatives and processes as needed, including valuation and modeling efforts.

YOUR QUALIFICATIONS

• Fellow of the Society of Actuaries (FSA) or ASA with commensurate experience
• 5+ years of actuarial experience
• Detail-oriented and hands-on, with strong problem solving and analytical skills
• Knowledge of annuity products, preferably variable annuity products
• Experience with and knowledge of GAAP, Statutory and Tax financial reporting requirements, especially on VM21, VM31, and Fair Value
• Knowledge of actuarial systems (AXIS or ALFA) and MS-Office software
• Experience with explaining stochastic reserve movements
• Demonstrated leadership experience, with both people and projects
• Strong written and communication skills
• Ability to manage concurrent deadlines and multiple priorities in an organized manner
• Team player with strong technical skills who works well with others in a professional environment

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
  • Unlimited Choice Time Off
  • 11 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. 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.