What are the responsibilities and job description for the Benefit Solutions Pricing Associate Actuarial Development Program Actuary position at Genworth?
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:
Benefit Solutions Pricing Associate Actuarial Development Program Actuary
POSITION LOCATION
This position is available to Virginia residents as Richmond, Virginia in-office 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
Support the Pricing Team Lead in developing, pricing, and implementing innovative solutions for Genworth’s in-force LTC blocks. Focus on actuarial analysis, pricing model development, and collaboration with cross-functional teams. This is a high-exposure, project-based team tasked with pricing and developing recommendations to support the company’s risk mitigation initiatives on the company’s inforce blocks of business, developing actuarial models and performing in depth analysis, and ultimate crafting recommendations to senior management. This is a highly collaborative role that will partner with various stakeholders to ensure all perspectives are considered in the development of recommendations.
This role participates in Genworth’s innovative Actuarial Development Program, which aids in the navigation from aspiring to accomplished actuary through obtaining the esteemed FSA designation. The program consists of 18–30 month rotational assignments that allow you to build foundational skills and competencies, business acumen, and leadership. Rotations will be within our various product lines and functions, providing you with diverse experiences and exposure throughout the organization.
Genworth fully supports our Actuarial Development Program members as they progress in their actuarial education. You will have study time available during work hours – up to 200 hours in any six-month period. Genworth will cover fees associated with exams, including registrations, study materials, and seminars. You will also receive salary increases for each exam passed with an extra bonus for passing on your first attempt.
What You Will Be Doing
Genworth employees make a difference in people’s lives every day. We’re committed to making a difference in our employees’ lives.
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, and qualifications to ensure pay equity within the organization.
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.
Benefit Solutions Pricing Associate Actuarial Development Program Actuary
POSITION LOCATION
This position is available to Virginia residents as Richmond, Virginia in-office 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
Support the Pricing Team Lead in developing, pricing, and implementing innovative solutions for Genworth’s in-force LTC blocks. Focus on actuarial analysis, pricing model development, and collaboration with cross-functional teams. This is a high-exposure, project-based team tasked with pricing and developing recommendations to support the company’s risk mitigation initiatives on the company’s inforce blocks of business, developing actuarial models and performing in depth analysis, and ultimate crafting recommendations to senior management. This is a highly collaborative role that will partner with various stakeholders to ensure all perspectives are considered in the development of recommendations.
This role participates in Genworth’s innovative Actuarial Development Program, which aids in the navigation from aspiring to accomplished actuary through obtaining the esteemed FSA designation. The program consists of 18–30 month rotational assignments that allow you to build foundational skills and competencies, business acumen, and leadership. Rotations will be within our various product lines and functions, providing you with diverse experiences and exposure throughout the organization.
Genworth fully supports our Actuarial Development Program members as they progress in their actuarial education. You will have study time available during work hours – up to 200 hours in any six-month period. Genworth will cover fees associated with exams, including registrations, study materials, and seminars. You will also receive salary increases for each exam passed with an extra bonus for passing on your first attempt.
What You Will Be Doing
- Assist in developing and maintaining pricing models for new and existing LTC products.
- Perform actuarial analyses to support pricing decisions and business strategy.
- Collaborate with team members to evaluate policyholder options and product alternatives.
- Prepare and present findings to actuarial, finance, and risk teams.
- Support ad hoc requests for pricing analysis and actuarial assistance.
- Contribute to documentation and process improvement initiatives.
- BA/BS in Mathematics, Actuarial Science, Statistics, or related field.
- Associate designation from Society of Actuaries or progress toward designation preferred.
- Career aspirations to attain Fellowship designation from Society of Actuaries
- 2 years actuarial experience, preferably in LTC or health insurance.
- Strong analytical, modeling, and problem-solving skills.
- Strong attention to detail and documentation skills.
- Effective communication and teamwork abilities.
- Experience with actuarial modeling software (AXIS preferred).
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
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, and qualifications to ensure pay equity within the organization.
Salary : $95,500 - $130,000