Long Term Care Actuary

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:

• 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.

POSITION TITLE

Actuary, In-Force Pricing, Long Term Care

POSITION LOCATION

Richmond, VA or

Remote US (Eastern or Central Time)

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

Genworth is the leader in Long-Term Care (LTC) Insurance with respect to number of policies in-force. You will be an integral part of the actuarial team supporting Genworth’s In-force LTC business. Your role will be project based, with opportunities to contribute through in-force repricing; the submission of filings to the states to support requests for justified rate increases; addressing objections and questions from the states related to filings requesting justified rate increases; building models and tools, as well as analyzing data and model output to support business decisions. You will have the opportunity to gain deep and broad experience in Genworth’s In-force LTC business, with opportunities for advancement.

What you will be doing

• Support in-force rate action pricing initiatives of LTC insurance products to ensure Genworth can continue to meet its obligations
• Support development, assessment, project management and/or execution of process improvement and enhancement efforts
• Perform and support ad hoc requests for state filings. These could include annual filings, requests for states with unique requirements, address objections from states, develop filings on group business and/or products with no or little prior rate increase history
• Complete and support filings required by various states detailing the current state of Genworth’s LTC business, including plans for rate increases, if any
• Work with other departments and teams, both internal and external, to get data needed to support rate increases
• Manage or direct workflow and development of junior actuaries or actuarial students in support of rate increase filings

What you bring

• Bachelor’s Degree in quantitative field of study
• FSA, near FSA or career ASA with commensurate experience (able to sign LTC filings)
• 5+ years of relevant work experience with insurance industry including filing experience
• Good understanding of the insurance business
• Good communication skills (verbal and written)
• Intellectual curiosity and capability
• Detailed oriented
• Ability to work collaboratively
• Ability to work independently with minimal supervision
• Some experience with models is desirable
• Programming skills in Excel
• Pricing background

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

For the State of New York:

The base salary pay range for this role starts at a minimum rate of $112,000 up to the maximum of $224,100. 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.