Senior Actuary - Model Risk & Validation Lead

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

Benefits offered by this job

Health insurance

401(k) options

Paid time off

Job summary

Genworth Financial, Inc. in Richmond, VA, with hybrid remote work options, seeks an Actuary, Model Risk to assess and manage model risk across Life, CareScout, and corporate functions. You will lead independent model validations and partner with model owners and leaders to advance best-in-class practices.

The role requires a quantitative degree, SOA/ASA credentials, 7+ years in Life/Annuity/LTC, and strong programming skills in SQL, Python, R, or SAS. AI tool interest welcomed.

Qualifications

• 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 Life, Annuity, or LTC insurance industries.
• 3+ years of experience developing actuarial models in AXIS or MG-ALFA/Integrate.
• 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.
• Nice to have 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.

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.

Skills

Actuarial modeling

Model risk management

Independent validation

Documentation

Education

Bachelor’s Degree in a quantitative discipline

Fellow of Society of Actuaries or ASA; FSA preferred

Master’s degree (nice to have)

CERA designation

Tools

Moody’s AXIS

MG-ALFA/Integrate

SQL

Python

R

SAS

Job description

Genworth Financial, Inc. in Richmond, VA, with hybrid remote work options, seeks an Actuary, Model Risk to assess and manage model risk across Life, CareScout, and corporate functions. You will lead independent model validations and partner with model owners and leaders to advance best-in-class practices.

The role requires a quantitative degree, SOA/ASA credentials, 7+ years in Life/Annuity/LTC, and strong programming skills in SQL, Python, R, or SAS. AI tool interest welcomed.