Genworth Financial AVP & Actuary, Pricing, Long Term Care in Richmond, Virginia
Actuary responsible for pricing combination Life/LTC products and supplemental products to meet market requirements while maintaining the company's profitability and risk management objectives.
Development of test models for new product concepts to calculate preliminary price points that meet target profit objectives.
Strong contributor to product design process for both new innovations and enhancements on current products.
Partner with Product, Risk, Valuation, Investments, Finance and other parties to ensure consistency of expectations and assumptions. Includes securing internal approvals of new proposals.
Prepare and communicate pricing results to senior leadership.
Build and maintain pricing models.
Support policy form filings including development of actuarial memoranda.
Write new product technical specifications.
Document pricing assumptions, results and processes. Maintain and enhance internal controls.
Support Multi-Year Planning process for new business.
Provide peer review and guidance to actuarial team on all Combo and Supplemental pricing projects.
BA /BS Degree in actuarial science, mathematics, statistics and/or related major
7+ years recent Life, LTC, Health or DI pricing experience
Fellow of the Society of Actuaries (FSA) designation or Associate (ASA) with commensurate experience
Proficient knowledge of pricing and filing requirements.
Knowledge of GAAP, statutory, and tax accounting for Life Products
Working knowledge of FAS60, FAS 97 including SoP03-1, Regulation XXX and Actuarial Guideline 38.
Strong project management and organizational skills.
Ability to interact professionally and effectively in a team environment.
Strong communication skills, both oral and written, including appropriate evidence of work process documentation, technical writing and senior manager presentation skills.
Computer skills, including knowledge of spreadsheets, MS Office Software and Programming.
Experience with actuarial modeling software, such as MG-ALFA and AXIS.
Creative and innovative thinker
Combination Life/LTC experience
Financial Reporting exposure
Desire to advance to a higher level
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.
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.