Senior Actuary, Strategic Solutions

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

Senior Actuary, Strategic Solutions

POSITION LOCATION

Richmond, VA

Remote US (Eastern or Central Time)

YOUR ROLE

The objective of the Long Term Care Benefit Solutions Pricing team is to identify, price, and implement new, innovative solutions that help maximize the value of our in-force Long Term Care (LTC) blocks of business. You will be responsible for performing holistic analysis to yield actionable insights and for helping to develop business strategy around these insights. This is a high-exposure, project-based team tasked with pricing and developing recommendations to support the company’s risk mitigation initiatives on the company’s inforce blocks of business, developing actuarial models and performing in depth analysis, and ultimate crafting recommendations to senior management. This is a highly collaborative role that will partner with various stakeholders to ensure all perspectives are considered in the development of recommendations.

WHAT YOU WILL BE DOING:

• Lead and manage a small (2 ASA level actuaries) highly skilled team with accountability for creating innovative new alternatives on existing Long Term Care products which provide meaningful benefits, enhance alignment between policyholders and Genworth, and incorporate input and viewpoints from state regulators
• Present ideas and analysis to experts from various disciplines (Actuarial, Finance, Risk, etc.)
• Develop, enhance and maintain projection models used for new alternative pricing and inforce analytics
• Develop tools and processes to aid in further understanding the impacts of policyholder behavior
• Support the development of policyholder options that can help maintain meaningful benefits while improving the resiliency of the business for Genworth
• Collaborate with other functional areas on a variety of in-force management initiatives
• Support other LTC Benefit Solutions goals, objectives and work streams
• Support ad hoc requests for analysis / actuarial assistance on LTC issues
• Develop and foster a culture of continuous improvement and mentorship of junior staff

What you bring

• BA/BS Degree in Mathematics/Statistics/Science, Actuarial Science, Business/Finance, Engineering or related major involving significant technical/analytical coursework
• Fellow of the Society of Actuaries or ASA with commensurate experience
• 7+ years actuarial experience
• Affinity for working in a creative environment focused on proactive research and development of new initiatives
• Ability to interact professionally and effectively in a team environment
• Strong communication skills, both oral and written
• Significant modeling experience
• Strong analytical and problem-solving skills
• Ability to think broadly and lead a small team
• Demonstrated accountability in meeting project deadlines and managing multiple priorities
• Demonstrated ability to perform thorough research, understanding inputs, sources of data, downstream impacts both within and outside of areas of direct control / responsibility
• Proven at developing thorough documentation that is self-explanatory and of the highest standard

Nice to have

• Prior LTC insurance experience
• Experience with AXIS

ADDITIONAL

• At this time, Genworth will not sponsor a new applicant for employment authorization for this position.

For the State of New York:

The base salary pay range for this role starts at a minimum rate of $145,900 up to the maximum of $277,400.  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 25% 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.