Genworth Financial Associate Actuary, Pricing, Long Term Care in Richmond, Virginia

COMPANY

Genworth is a Fortune 500 financial services company providing financial security and protection through our Mortgage Insurance and Long Term Care Insurance businesses. Our purpose is to help families achieve the dream of homeownership and address the financial challenges of aging. At Genworth, our promise to our employees is the opportunity to make a meaningful difference in the lives of our customers, our communities, and one another.

We issued our first life insurance policy in 1871, our first annuity contract in 1928, and our first long term care insurance policy in 1974. Today, nearly 4 million customers rely on Genworth's U.S. Life Insurance Companies.

POSITION SUMMARY

Responsible for creation and maintenance of actuarial models use in LTC pricing. Tailor new or existing models to fit the pricing framework, primarily using MG-ALFA software. Ensure versioning control around production models. Maintain detailed documentation of all changes made to models, including impacts and evidence under key reporting bases under key reporting bases.

Identify and implement of process improvements, including automation process where possible, to increase model efficiency and transparency.

RESPONSIBILITIES

  • Support Individual and Group LTC pricing team in model development

  • Build and maintain LTC pricing models

  • Ensure controlled, validated, and well-documented modeling results are produced by models for every production cycle

  • Interact with Modeling software vender for model maintenance, and develop plans for model improvement

  • Implement model changes as needed to reflect new or modified pricing changes, and methodologies enhancement

  • Provide technical support to pricing team

  • Support ad hoc requests on product issues

REQUIRED QUALIFICATIONS

  • BA/BS Degree in actuarial science, mathematics, statistics and/or related background

  • 5+ years of relevant work experience within actuarial industry

  • Associate of Society of Actuaries (ASA)

  • Experience with MG-ALFA (version 8 and above) actuarial pricing software; knowledge in AXIS, Prophet or Moses is a plus

  • Good communication skill, both oral and written

  • Self-driven, motivated and take ownership

  • Proficient in excel and VBA

PREFERRED QUALIFICATIONS

  • Relevant work experience within LTC / Life in pricing, valuation or actuarial modeling

  • Understanding life insurance product mechanics concepts

  • Strong problem solving and analytical skills

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.