Actuarial Analyst, LTC Valuation

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Position Title

Actuarial Analyst, LTC Valuation

Position Location

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

We are seeking a highly motivated and analytical Actuarial Analyst to join our LTC Valuation team. As an Actuarial Analyst, you will play a crucial role in supporting the assessment and analysis of the financial risks and liabilities associated with our Genworth's LTC insurance products under Long Duration Targeted Improvements (LDTI) standards. Your work will be instrumental in ensuring our company's financial stability, regulatory compliance, and strategic decision-making.

What you will be doing

• Valuation and Reserving: Support the calculation and documentation of GAAP (LDTI) reserves for the LTC insurance block using GGY AXIS actuarial models, SAS models, and actuarial techniques. This includes supporting reserve analysis, reserve trending, and attribution analysis.
• Financial Reporting & Documentation: Prepare financial reports and documentation for GAAP (LDTI) financial statements and maintain comprehensive documentation of all reserving processes, assumptions, and methodologies. Prepare reports for internal and external stakeholders, including auditors.
• Reinsurance Reporting: Prepare financial reports and deliverables to our reinsurance partners.
• Model Governance: Support peer reviews of GGY AXIS model updates performed by our Model Development team.
• Communication: Present findings and recommendations to management, both in written reports and through verbal communication. Effectively communicate complex actuarial concepts to non-actuarial stakeholders.
• Continuous Improvement: Stay updated on industry trends, actuarial methodologies, and regulations. Propose and implement process improvements to enhance efficiency and accuracy.
• Collaboration: Work closely with colleagues in the Valuation Actuarial team and other cross-functional teams, such as Model Development, Projections, and Investment, to ensure alignment with company objectives.

What you bring

• BS / BA degree in actuarial science, mathematics, statistics or related major
• 3+ years of experience in the actuarial field or commensurate experience
• ASA, near ASA, or commensurate experience
• Experience with actuarial Valuation systems
• Excellent analytical and problem-solving skills with a keen attention to detail
• Ability to manage concurrent deadlines and multiple priorities
• Strong communication and interpersonal skills to collaborate effectively with various teams.
• Ability to adapt to changing regulatory and accounting standards.

Additional Qualifications

• LTC actuarial work experience of LTC products
• Experience with GGY AXIS
• Experience with LDTI
• Experience with GAAP and Statutory Accounting

Employee Benefits & Well-Being

Genworth employees make a difference in people's lives every day. We're 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

The base salary pay range for this role starts at a minimum rate of $91,000 up to the maximum of $130,000. 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 15% 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.