Actuarial Development Program Associate Actuary—LTC Strategic Initiatives Assumptions

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

Actuarial Development Program Associate Actuary—LTC Strategic Initiatives Assumptions

POSITION LOCATION

This position is available to Virginia residents as Richmond, Virginia in-office/hybrid applicants and 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.

YOUR ROLE

This role within Genworth’s Actuarial Development Program is on the Long Term Care (LTC) Strategic Initiatives Assumptions team with the responsibility of providing analytical expertise to monitor the performance of LTC assumptions, providing valuable insights that will help drive business decisions. In this role, you will generate actual to expected analysis/reporting, use predictive analytics, and use AXIS projection models for scenario modeling. Actuarial skills will be used and further developed in order to monitor assumptions and make recommendations for improvements.

What you will be doing

• Generate/update analysis in Excel to support AG51 requirements and other management requests
• Run processes generating block demographics data and report out to management
• Use Python to generate analysis and advanced analytics supporting strategic initiatives, such as wellness programs
• Run Axis model sensitivities to support analysis of potential assumption updates
• Support analysis of historical and projected claim trends and other Strategic Initiatives Assumptions as needed
• Peer Review work from others on the team
• Be involved in monitoring the performance of best estimate actuarial assumptions relative to current short-term results
• Provide ad hoc actuarial analysis on other subjects and projects as needed
• Collaborate with teammates and others within the LTC actuarial department on special projects
• Ensure compliance with Genworth actuarial policies and procedures.

What you bring

• BS/BA Degree in actuarial science, mathematics, statistics and/or related major
• 3+ years of experience in the actuarial field
• Associate of the Society of Actuaries (ASA) designation
• Proven modeling and analytical skills
• Strong Excel Skills
• Experience using SQL, Python and/or SAS
• Strong communication skills (verbal and written)

Nice to have

• Experience with actuarial projection systems such as AXIS
• LTC actuarial work experience; understanding of LTC products and terminology
• Knowledge of Valuation, Modeling, Projections, Experience, or Pricing actuarial processes
• Ability to manage concurrent deadlines and multiple priorities ​

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 Information
The base salary pay range for this role starts at a minimum rate of $95,500 up to the maximum of $130,000. 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 15% 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, exam progression, and qualifications to ensure pay equity within the organization.