Actuary, Model Risk

About the role

As an Actuary and member of the Model Risk Team, you will assess and manage model risk for Genworth's US Life Insurance, CareScout Insurance, CareScout Services businesses, and Genworth’s Investment and Corporate functions. You will lead independent model validations, partner with model owners and business leaders, and help advance best-in-class model risk management practices across the enterprise.

Responsibilities

• Lead independent model validations for actuarial, finance, investment, and data science models
• Validate that models are fit for purpose and functioning as expected based on their design, input data, methodology, and output
• Provide effective challenge on model rationale, reliability, stability, robustness, and limitations
• Identify model issues, confirm their resolution, and document validation findings for both technical and non-technical audiences
• Collaborate with model owners, developers, and business leaders to deliver independent, value-added model risk management
• Assess the enterprise’s inherent and residual exposure to model risk based on its business processes, and risk management strategies
• Contribute thought leadership and insights on modeling, model risk management, model controls, and model governance
• Improve the efficiency and efficacy of existing model risk management processes
• Share industry knowledge, best practices, and notable validation findings with the Model Risk Team

Requirements

• Bachelor’s Degree in a quantitative discipline
• Fellow of Society of Actuaries (FSA) or Associate of the Society of Actuaries (ASA); FSA preferred
• 7+ years of relevant experience within the Life, Annuity, or LTC insurance industries
• 3+ years of experience developing actuarial models in an actuarial software platform (Moody’s AXIS or MG-ALFA/Integrate preferred)
• Proficiency in SQL or programming languages such as Python, R, or SAS
• Familiarity with actuarial valuation, projections, experience study or pricing models
• Interest in adopting and building AI tools to improve how we work
• Ability to document models, processes, and validation findings for technical and non-technical audiences
• Ability to work independently, take ownership of projects, and self-study unfamiliar topics

Qualifications

• Master’s degree in a quantitative discipline
• CERA designation
• Familiarity with predictive analytics, statistical techniques, or AI/machine learning models
• Experience with using AI tools to improve processes and boost productivity

Skills

• Strong analytical and problem-solving skills
• Excellent communication and collaboration skills
• Ability to work independently and manage multiple tasks
• Knowledge of actuarial principles and practices
• Experience with actuarial software platforms
• Proficiency in SQL or programming languages
• Understanding of model risk management concepts

Benefits

Genworth offers a comprehensive benefits package including competitive compensation, total rewards, and employee well-being initiatives. These include:

• Competitive Compensation & Total Rewards
• 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