Vice President & Global Chief Actuary, Global Mortgage Insurance
August 15, 2018
Raleigh, North Carolina
Full Time - Experienced
Capital Management, Predictive modeling, Reinsurance
4 Year Degree
Your role will provide strategic leadership and oversight to the reserving, pricing, predictive modeling, forecasting and reinsurance activities that are essential to the overall financial performance of the Global Mortgage Insurance (GMI) Division. Working collaboratively with key business leaders, finance, and risk stakeholders, this role will provide actuarial leadership and strategic oversight to the actuarial function within Global Mortgage Insurance overall and within its key platforms in the US, Canada, Australia, and other emerging markets.
Actuarial Reserving – Lead GMI’s review framework to establish adequate loss and premium carried reserves in every GMI platform on all relevant accounting bases (i.e. US GAAP, Chinese GAAP, IFRS), including appropriate communication, documentation, peer review and model validations of all actuarial reserving work; Ensure all actuarial reserving work is governed according to the GMI Reserving Policy and GMI’s Assumption Governance Framework; Ensure actuarial valuations for GMI entities comply with all relevant requirements - regulatory, accounting and actuarial standards
Pricing – Provide thought leadership and collaboration to strengthen GMI’s pricing capabilities, portfolio and management cohort pricing and return analysis; Coordinate GMI’s Annual Pricing Reviews by platform
Predictive Modeling – Collaborate with GMI Global Risk to foster investment in and development of high-quality predictive modeling capabilities to address GMI business needs
Model Governance – Collaborate with GMI Global Risk in leading the GMI model validation efforts; Actively participate in the completion of the model validation schedule
Economic Capital – Collaborate with GMI Global Risk in governance of EC practices for GMI and each platform, including refinement of economic return metrics (e.g. RAROC, VNB)
Capital Management – Drive development of the framework and related analysis to support capital diversification benefits and optimization at the GMI level
Reinsurance – Assist in the development of each platform’s reinsurance strategy
Staff Development – Provide dotted line leadership to all GMI actuarial staff; Mentor actuarial staff in each GMI platform, develop actuarial team cohesiveness across the GMI organization, and support development of other global staff; Continue to enhance the actuarial capabilities in each GMI platform, including leveraging actuarial best practices across GMI platforms
FCAS / FSA / MAAA or equivalent designations
Bachelor’s degree in actuarial science, mathematics, statistics or related field
15+ years actuarial experience in progressively larger roles, including management roles and experience in reserving, pricing, predictive modeling, capital management, accounting, financial planning and reporting
Extensive knowledge of and experience leading predictive modeling projects
Experience as an Appointed Actuary and the associated regulatory requirements
Executive presence and professional maturity, with the ability to quickly establish credibility and earn the trust and respect of the diverse platform personnel and market constituents
Demonstrated leadership and management capabilities, with the ability to effectively work and influence across multiple disciplines, platforms and cultures
Strong communications, presentation and collaboration skills, with the ability to challenge platform actuarial, risk and finance professionals, as well as to convey technical concepts in plain language to non-technical audiences
Results oriented, accountable for performance, and take complete ownership of projects
Strong grounding in actuarial controls and standards of practice
Willingness and ability to travel internationally and conduct business meetings at early/late hours to accommodate time zone requirements and deadlines
Broad knowledge of mortgage lending, insurance and banking, including industry practices, overall market trends, U.S. GAAP, Chinese GAAP, IFRS and statutory reporting requirements
Broad knowledge of Economic Capital and Embedded Value Models and Analysis
Working knowledge of GAAP, Statutory and Tax valuation requirements for mortgage insurance companies
Working knowledge of Regulatory and Rating Agency capital requirements for mortgage insurance companies
Working knowledge of fair value concepts and capital asset pricing methodologies
Prior model validation experience, especially in credit risk
International experience working across multiple time zones and cultures
Genworth Financial, Inc. is a leading insurance holding company committed to helping families achieve the dream of home ownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871.
Genworth Global Mortgage Insurance, headquartered in Raleigh, North Carolina, is a global mortgage insurer with a major presence in the United States, Canada, and Australia. With origins dating back to 1980, Genworth Mortgage Insurance provides primary mortgage guaranty insurance coverage on residential mortgage loans, as well as mortgage pool insurance policies that enhance insurance coverage for various types of mortgage-related securities. Our mortgage insurance can help individuals secure low down payment loans and realize the dream of home ownership faster – even for the first time.
We know we can’t deliver on our mission unless we deliver for our employees. That’s why we’re committed to creating a work environment that fosters inclusion, excellence, improvement and connection. We know each employee contributes in their own unique way and we’re dedicated to supporting every one of them to help them reach their full potential.
Internal Number: 180662
For over 145 years, we have been focused on helping our customers navigate caregiving options, protect and grow their retirement income, and prepare for the financial challenges that come as we age. We're here to be a trusted ally for everybody who needs care as they age and anybody who loves them.