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 care—and 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:
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Make it human. We care about the people that make up our customers, colleagues, and communities.
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Make it about others. We do what's best for our customers and collaborate to drive progress.
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Make it happen. We work with intention toward a common purpose and forge ways forward together.
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Make it better. We create fulfilling purpose-driven careers by learning from the world and each other.
POSITION TITLE
Experience Study Actuary, Life Assumption
POSITION LOCATION
Richmond, VA
Remote US (Eastern or Central Time Zone)
This position is available to Virginia residents as Richmond, Virginia in-office applicants
- A Hybrid schedule of both Remote and In-Office days is required. In office days are Tuesday, Wednesday and Thursday with working hours targeting our core business hours of 9am-5pm EST.
This position is available to 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, Vermont, Virginia, Washington DC, West Virginia or Wisconsin.
- A Hybrid schedule of both Remote and In-Office days would be required if you reside within 50 miles of a Genworth | CareScout office with working hours targeting our core business hours of 9am-5pm EST.
YOUR ROLE
As an Actuary and a key member of the Life Assumption team, you will play a critical role in the review of the Genworth life experience and the development of key actuarial assumptions to project future liabilities to ensure the company’s financial ability to meet its obligations. You will have an excellent opportunity to join a highly motivated and inclusive team responsible for providing assumption review and assumption recommendation to the organization. This role will collaborate between actuarial, finance, reinsurance, risk, IT, leadership and others.
What you will be doing
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Contribute to the Inforce experience reviews and support the Life mortality, lapse and premium persistency assumption development and the experience monitoring projects
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Analyze statistical data to forecast risk and liability for payment of future benefits, focusing on Life assumption setting
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Communicate results of recommendations and reviews to non-technical audience
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Collaborate with Projection and Valuation Team to create consistent messaging and improve reconciliations.
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Provide peer review and guidance to actuarial experience and assumptions team
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Support maintenance and enhancements of assumption development process
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Develop and document internal controls for validating and reconciling assumptions implementation with valuation, projections, and pricing data.
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Support ad-hoc requests for actuarial assistance
What you bring
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Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related discipline
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Fellow of the Society of Actuaries (FSA) or Associate of the Society of Actuaries (ASA)
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At least 5+ years relevant experience with FSA, more years required with ASA
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Experience in Actuarial processes, including valuation, projections, experience and pricing
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Knowledge of GAAP, Statutory and Tax financial reporting requirements for term and universal life insurance
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Strong proficiency in a programming language such as SAS, Python, R or SQL
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Experience in life insurance experience studies and assumption setting
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Ability to manage concurrent deadlines and multiple priorities in an organized manner
Nice to have
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7+ years of relevant experience
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Experience in assumption development using Predictive Analytics like GLM modeling.
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Experience in insurance, actuarial modeling platforms (AXIS), or assumption modeling.
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.
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Competitive Compensation & Total Rewards Incentives
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Comprehensive Healthcare Coverage
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Multiple 401(k) Savings Plan Options
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Auto Enrollment in Employer-Directed Retirement Account Feature (100% employer-funded!)
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Generous Paid Time Off – Including 12 Paid Holidays, Volunteer Time Off and Paid Family Leave
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Disability, Life, and Long Term Care Insurance
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Tuition Reimbursement, Student Loan Repayment and Training & Certification Support
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Wellness support including gym membership reimbursement and Employee Assistance Program resources (work/life support, financial & legal management)
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Caregiver and Mental Health Support Services
ADDITIONAL
- At this time, Genworth will not sponsor a new applicant for employment authorization for this position.
National Range: $109,000 – 169,000
High-Cost Range (includes New York): $136,000 -211,000
Disclaimer: This role is aligned to a national market-based pay range. Actual compensation will vary based on geographic location, experience, skills, and other job-related factors. In addition to base salary, this role is eligible to participate in a bonus incentive plan. Incentive compensation is based on individual and company performance and is not guaranteed.
