Model Development Actuary, Long Term Care

2 months ago

Richmond, Virginia, United States Genworth Financial, Inc. Full time
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:
  • 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

Model Development Actuary, Long Term Care

POSITION LOCATION

This position is available to Virginia residents as Richmond, Virginia in-office or hybrid 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

The Long-Term Care (LTC) Model Development Team is primarily responsible for the development, maintenance, and improvement of multi-purpose actuarial models in Moody's AXIS. You will support LTC model improvements for Valuation, Projections and Inforce Action model functionality. You will be involved in the model development for non-standard model changes, best estimate assumption updates for CFT/LDTI, and model/process improvement initiatives. In addition, you will support other LTC teams such as Experience, Analytics and Inforce Management that rely upon the actuarial models for their work.

WHAT YOU WILL BE DOING
  • Complete the model development for non-standard model changes and projects requiring significant research and testing
    • Research, test, and validate model changes
    • Ensure communication of progress and results to key stakeholders
  • Play a role in the modeling efforts associated with best estimate assumption updates for CFT/LDTI and model impact walks. Ensure communication with key stakeholders.
  • Serve as a subject matter expert for model functionality across all LTC actuarial models.
    • Provide modeling expertise to ensure model changes are accurate, efficient, and in alignment with overall desired model structure
    • Maintain a good understanding of product features and models including known limitations and simplifications
    • Stay informed of new and upcoming features in AXIS
  • Mentor more junior team members as they gain proficiency using AXIS
  • Perform model updates and ad hoc analysis as needed
  • Ensure compliance with Genworth model governance and documentation policies and procedures
  • Support product line and corporate initiatives
WHAT YOU BRING
  • BA/BS Degree in Actuarial Science, Mathematics, Statistics or comparable major
  • Fellow of the Society of Actuaries (FS) or ASA with commensurate experience
  • 5+ years relevant actuarial experience, including Long Term Care product experience
  • Strong proficiency with actuarial modeling, preferably using AXIS software including Datalink and asset and liability modeling
  • Demonstrated leadership ability and team player
  • Excellent written and oral communication skills
  • Ability to manage concurrent deadlines and multiple priorities in an organized manner
  • Strong problem solving and analytical skills
  • Understanding of GAAP, Statutory, and Tax financial reporting requirements
  • Programming experience (e.g., SQL, Visual Basic, SAS, Python, and/or MATLAB)
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.
  • 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

The base salary pay range for this role starts at a minimum rate of $118,000 up to the maximum of $160,000. 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.

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