Actuary, Model Risk

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 careand 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 Genworths 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. What you will be doing 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 enterprises 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 What you bring Bachelors 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 have Masters Degree in a quantitative discipline CERA designation Model development experience with Moodys AXIS and/or MG-ALFA Employee Benefits & Well-Being Genworth employees make a difference in peoples lives every day. Were 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 At this time, Genworth will not sponsor a new applicant for employment authorization for this position. For the State of New York: The base salary pay range for this role starts at a minimum rate of $115,900 up to the maximum of $220,200. 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 20% 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. Genworth Financial, Inc (Genworth) (NYSE: GNW) is a Fortune 500 company focused on empowering families to navigate the aging journey with confidence, now and in the future. Headquartered in Richmond, Virginia, Genworth and its CareScout businesses provide guidance, products, and services that help people understand their caregiving options and fund their long-term care needs. Genworth is also the parent company and majority-owner of publicly traded Enact Holdings, Inc. (Nasdaq: ACT), a leading U.S. mortgage insurance provider. Genworth Mexico Genworth US We know we cant deliver on our mission unless we deliver for our employees. Thats why were committed to creating a work environment that fosters inclusion, excellence, improvement and connection. We know each employee contributes in their own unique way and were dedicated to supporting every one of them to help them reach their full potential. We are proud to be an equal opportunity employer and all hiring decisions are based on merit, qualifications, and business need. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.