Genworth Financial AVP & Actuary, Statutory Analysis, US Life 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

Primary function to support statutory asset adequacy analysis for the Genworth Life Insurance Companies. Participate in coordinating business modeling and actuarial reporting, including the State examinations of actuarial reporting for each of Genworth’s statutory legal entities.

Secondary function will be to back up the Actuarial Governance processes, especially as they relate to actuarial model controls. Work closely with the product line actuarial teams to support asset adequacy analysis and actuarial model governance.

RESPONSIBILITIES

  • Annual consolidation and analysis of product line asset adequacy testing for Genworth Legal Entities

  • Assessment of the projected taxable income and allocation to various product lines

  • Support in the preparation and review of various annual statement actuarial exhibits, schedules and supplements

  • Research and preparation of responses to regulatory inquiries, state examinations, internal and external audits, and regulatory/rating agency/industry surveys

  • Participation in actuarial organization working groups, as necessary to engaged on regulatory and industry actuarial issues important to Genworth

  • Addressing ad hoc actuarial needs.

REQUIRED QUALIFICATIONS

  • Member, American Academy of Actuaries

  • Fellow, Society of Actuaries

  • B.S. Degree in Actuarial Science, Mathematics, Statistics, and/or related major

  • 7+ years of actuarial experience

  • 5+ years of experience of actuarial financial reporting and valuation systems experience

  • 3+ years of cash flow testing and modeling systems experience

  • Knowledge of tax reporting requirements for after-tax modeling

  • Independent worker, with good interpersonal skills and ability to interact professionally, collaboratively and effectively in a wide team environment

  • Experience coordinating Actuarial resources and working with Finance teams, and sound organizational skills

  • Demonstrated leadership ability, with flexible, strategic, forward-looking, and critical thinking, initiative and commitment to creatively resolving issues and improving work processes, drive to grow own skills and abilities, and desire to advance to a higher level

  • Strong communication skills, both oral and written, including ability to translate complex, technical actuarial concepts into plain English, with appropriate evidence of work process documentation, technical writing and senior management presentation skills

  • Self-motivated, with a track record of superior performance and ability and willingness to perform at a high level, embrace change while thriving on work intensity, meeting concurrent deadlines, addressing multiple priorities, and working under pressure

PREFERRED QUALIFICATIONS

  • Basic understanding of accounting procedures and the general ledger

  • Long Term Care, Life, Annuity and Variable Annuity product, financial reporting and reinsurance knowledge, including VA CARVM and C3 Phase 2 Risk Based Capital requirements

  • Investment experience or knowledge, including asset and liability management

  • Experience with New York Department of Financial Services cash flow testing requirements

  • Experience working with industry trades organizations

Genworth is a Fortune 500 financial services company providing financial security and protection through our Mortgage Insurance and Long Term Care 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.