Actuarial Development Program Associate Actuary 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:

• 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
Actuarial Development Program Associate Actuary

Your Role
As an aspiring actuary, lifelong learning is at the core of your profession. Genworth’s innovative Actuarial Development Program aids in the navigation from aspiring to accomplished actuary through obtaining the esteemed FSA designation. Beginning Summer 2024, this multiple year 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
As a member of the Genworth’s Actuarial Development Program, you can expect to:
• Work in a fast-paced, innovative, and change-oriented work environment
• Build a strong network of peers and mentors
• Attend on-site technical and professional development classes
• Participate in sponsored community service events
• Utilize advanced Excel techniques and programming
• Work with large data sets
• Gain exposure to actuarial software, including GGY AXIS, MG-ALFA, and PolySystems
• Utilize advanced data visualization tools (e.g., PowerBI, Alteryx, Spotfire, etc.)
• Assist with corporate wide initiatives to enhance our SOX controls
• Assist with automation efforts for our Valuation processes
• Support Valuation GAAP (LDTI) and Statutory reporting and analysis

Must Have/What You Bring
• Bachelor’s or Master's degree in Actuarial Science, Statistics or Mathematics related field of study
• Associate of the Society of Actuaries (ASA) Designation
• Career aspirations to attain a Fellowship designation
• Demonstrated math and analytical skills
• Previous experience in insurance industry preferred
• Demonstrated proficiency in oral and written communications
• Experience with actuarial Valuation systems (GGY AXIS preferred)
• Excellent analytical and problem-solving skills with a keen attention to detail
• Ability to manage concurrent deadlines and multiple priorities

• 3+ years of work experience

Additional Qualifications
• LTC actuarial work experience of LTC products
• Experience with GAAP (LDTI)
• Experience with Statutory Accounting
• Experience with Audit and SOX controls

This position is available to Virginia residents as Lynchburg or 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.

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