Actuary conducts analysis, pricing and risk assessment to estimate financial outcomes. Applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Being an Actuary develops probability tables regarding fire, natural disasters, death, unemployment, etc. based on analysis of statistical data and other pertinent information. Typically requires a bachelor's degree. Additionally, Actuary typically reports to a supervisor or manager. The Actuary works on projects/matters of limited complexity in a support role. Work is closely managed. To be an Actuary typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
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 :
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
Ensure communication with key stakeholders.
WHAT YOU BRING
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.
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.