Experience Study Actuary, Life Assumption

Genworth; Richmond (VA); Hybrid; USD 109,000 - 169,000; Full time

Benefits offered by this job

Healthcare Coverage

401(k) Savings

Paid Holidays

Tuition Reimbursement

Wellness Programs

Life Insurance

Mental Health Support

Job summary

Genworth in Richmond, VA is seeking an experienced Experience Study Actuary to lead life assumption development and review future liability projections. In this hybrid role, you will balance remote work with in-office days Tue–Thu, 9am–5pm EST, and collaborate across actuarial, finance, and IT teams.

You will build mortality, lapse, and premium persistence models, communicate findings to non-technical stakeholders, and ensure controls align with valuation data.

Qualifications

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or related discipline.
• Fellow of SOA (FSA) or Associate (ASA) with 5+ years of relevant experience.
• Experience with valuation, projections, and experience and pricing.
• Knowledge of GAAP, statutory and tax reporting for term and universal life.
• Strong programming skills in SAS, Python, R or SQL.
• Experience in life insurance experience studies and assumption setting.
• Ability to manage multiple priorities with deadlines.

Responsibilities

• Contribute to inforce experience reviews and develop mortality, lapse and persistency assumptions.
• Analyze data to forecast risk and liabilities for future benefits.
• Communicate results clearly to non-technical audiences.
• Collaborate with Projection and Valuation Teams for consistent messaging.
• Provide peer review and guidance to the actuarial team.
• Maintain and enhance the assumption development process.
• Document internal controls for validating implementation with valuation data.
• Handle ad-hoc actuarial requests.

Skills

FSA/ASA

SAS

Python

R

SQL

Life insurance experience

Leadership

Education

Bachelor's in Actuarial Science

Tools

AXIS

Excel

Job description

Position Title

Experience Study Actuary, Life Assumption

Position Location

Richmond, VA
Remote US (Eastern or Central Time Zone)

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

A Hybrid schedule of both Remote and In-Office days is required. In office days are Tuesday, Wednesday and Thursday with working hours targeting our core business hours of 9am-5pm EST.

This position is available 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.

A Hybrid schedule of both Remote and In-Office days would be required if you reside within 50 miles of a Genworth | CareScout office with working hours targeting our core business hours of 9am-5pm EST.

Your Role

As an Actuary and a key member of the Life Assumption team, you will play a critical role in the review of the Genworth life experience and the development of key actuarial assumptions to project future liabilities to ensure the company’s financial ability to meet its obligations. You will have an excellent opportunity to join a highly motivated and inclusive team responsible for providing assumption review and assumption recommendation to the organization. This role will collaborate between actuarial, finance, reinsurance, risk, IT, leadership and others.

What You Will Be Doing

• Contribute to the Inforce experience reviews and support the Life mortality, lapse and premium persistency assumption development and the experience monitoring projects.
• Analyze statistical data to forecast risk and liability for payment of future benefits, focusing on Life assumption setting.
• Communicate results of recommendations and reviews to non-technical audience.
• Collaborate with Projection and Valuation Team to create consistent messaging and improve reconciliations.
• Provide peer review and guidance to actuarial experience and assumptions team.
• Support maintenance and enhancements of assumption development process.
• Develop and document internal controls for validating and reconciling assumptions implementation with valuation, projections, and pricing data.
• Support ad-hoc requests for actuarial assistance.

What You Bring

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related discipline.
• Fellow of the Society of Actuaries (FSA) or Associate of the Society of Actuaries (ASA).
• At least 5+ years relevant experience with FSA, more years required with ASA.
• Experience in Actuarial processes, including valuation, projections, experience and pricing.
• Knowledge of GAAP, Statutory and Tax financial reporting requirements for term and universal life insurance.
• Strong proficiency in a programming language such as SAS, Python, R or SQL.
• Experience in life insurance experience studies and assumption setting.
• Ability to manage concurrent deadlines and multiple priorities in an organized manner.

Nice to Have

• 7+ years of relevant experience.
• Experience in assumption development using Predictive Analytics like GLM modeling.
• Experience in insurance, actuarial modeling platforms (AXIS), or assumption modeling.

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

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

National Range: $109,000 – 169,000

High-Cost Range (includes New York): $136,000 -211,000

Disclaimer: This role is aligned to a national market-based pay range. Actual compensation will vary based on geographic location, experience, skills, and other job-related factors. In addition to base salary, this role is eligible to participate in a bonus incentive plan. Incentive compensation is based on individual and company performance and is not guaranteed.