Senior Valuation Actuary

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 Valuation Actuary

POSITION LOCATION

Richmond, VA

Remote US (Eastern or Central Time Zone)

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

We are seeking a skilled and highly motivated Senior Valuation Actuary to join our LTC Valuation team. As a Senior Valuation Actuary, your primary responsibility will be to lead Statutory reporting for our Long-Term Care (LTC) insurance products, which includes supporting the Valuation Leader in reserve analysis, providing regulatory expertise related to Statutory reserves internally & externally, and leading the team supporting Statutory reporting. This role will be heavily involved with Statutory reporting, analysis, and controls, as well as various Valuation projects. You will also be involved with the maintenance of models and related governance processes used to develop Statutory reserves and analysis. Additionally, you will help support our GAAP (LDTI) reserve analysis, reporting, controls, and disclosures.

What you will be doing

• Lead the statutory valuation process for Long-Term Care (LTC) products, ensuring accurate and timely reporting in compliance with NAIC and state regulatory requirements. This includes reserve analysis, reserve trending and attribution analysis.
• Ensure compliance with SOX controls, internal governance policies, external audit requirements, NAIC, accounting standards, and state regulations. Maintain comprehensive documentation of all reserving processes, assumptions, and methodologies. Prepare reports for internal and external stakeholders, including regulators and auditors.
• Oversee the development and maintenance of actuarial models (GGY AXIS, SAS, Spotfire, and Excel) used for statutory reserves for LTC products, including the application of Principle-Based Reserving (PBR), supporting model peer reviews of GGY AXIS models, and other regulatory standards.
• Support the development, evaluation, and maintenance of DLR actuarial assumptions for reserving and modeling in compliance with NAIC and state regulatory requirements.
• Support the implementation and ongoing reporting requirements of US GAAP Long Duration Targeted Improvements (LDTI) for LTC products, working closely with finance and accounting teams to ensure the accuracy of actuarial models and assumptions.
• Stay updated on industry trends, actuarial methodologies, and regulations. Stay current with changes in insurance regulations and accounting standards related to accounting standards and ensure the company's practices remain in compliance.
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