Strategic Pricing Actuary

Actuary, Inforce Strategy & Pricing, Long Term Care

Your Role

As a key member on Genworth’s Long Term Care (LTC) Inforce Strategy & Pricing Team, you will be tasked with identifying, researching, pricing, and helping implement new, innovative solutions that maximize the value of our in-force LTC blocks of business. This is a high-exposure, project-based team tasked with researching multiple 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 other actuarial and non-actuarial teams to ensure all stakeholder perspectives are considered in the development of recommendations. Examples of potential risk mitigation initiatives include research into new reduced benefit options (RBOs) and the development of new alternative product solutions for policyholders facing rate actions, as well as research into other business strategic initiatives to reduce key risk exposure and improve the overall profitability of inforce blocks of businesses.

RESPONSIBILITIES

• Support in-force management initiatives related to LTC insurance blocks that provide meaningful policyholder alternatives or RBOs that can help policyholders mitigate the impact of rate actions and meet regulatory requirements while improving the performance of the inforce blocks of business

• Develop, maintain, and enhance projection models used for new alternative pricing and in-force analytics

• Develop tools and processes to aid in further understanding the impacts of policyholder behavior and develop strategies to drive policyholder behavior

• Draw insights from analysis and make recommendations to senior management regarding implications of findings and proposed actions

• Collaborate with other functional areas on a variety of in-force management initiatives and research

• Develop, maintain, and enhance tools to research ad hoc requests for analysis / actuarial assistance on LTC issues

REQUIRED QUALIFICATIONS

• BA/BS Degree in Mathematics/Statistics/Science, Actuarial Science, Business/Finance, Engineering or related major involving significant technical/analytical coursework

• FSA certification

• Strong communication skills, both oral and written

• Ability to interact professionally and effectively in a team environment

• Self-driven, highly-motivated, and shows ownership in tasks

• Ability to operate independently, manage multiple priorities, and meet deadlines

• Strong analytical and problem-solving skills

• Ability to think broadly and lead/influence without direct authority

• Demonstrated ability to perform thorough research, understanding inputs, sources of data, downstream impacts both within and outside of areas of direct control

• Experience in actuarial modeling

• Basic programming skills and experience in Microsoft applications of Excel, VBA, Word and PowerPoint

• Proven at developing thorough documentation that is self-explanatory and of the highest standards

PREFERRED QUALIFICATIONS

• Prior LTC insurance experience

• Significant modeling experience, preferably AXIS

• Strong proficiency in a programming language such as Python, SAS, R

• Experience with data visualization software such as Spotfire or PowerBI