Actuarial Development Program

Program Information

Summary

The Genworth Financial Actuarial Development Program develops actuarial talent to produce highly skilled business actuaries and leaders in Genworth who have the qualifying credential of Fellowship in the Society of Actuaries. The program is broken in to three distinct phases in order to achieve the experience and development needs of the phase: Pre ASA, ASA to FSA and FSA plus three years. Each phase builds upon one another and includes key components to build successful actuaries.

Rotations 

• Rotations typically last between 12 and 24 months
• Pre ASA: rotations targeted toward various product lines but ideally one valuation, one projection and one pricing roation
• ASA to FSA: rotations continue to be varied but also include the option of one non traditional actuarial role which could be outside of the actuarial function
• FSA + 3 years: rotations through practice area across mutlipe product lines when possible

Exams

• Students are expected to sit for an exam or module grouping each six-month period 
• Exam study materials, seminars and fees are paid for by Genworth
• Study time provided during work hours - up to 200 hour in any six-month period
• Salary increase for passing each exam and exam bonuses for passing some exams on the first attempt

Training

• Focused training areas: foundational skills and competencies, business acumen, leadership
• Training builds as student progresses through the program

Mentoring

• Monthly meetings recommended for each student and his/her mentor
• Mentor's level in the organization increases as the student progresses through the program

Qualifications

• Pursuing a Bachelor's or Master's degree in Actuarial Science, Statistics or Mathematics related field of study
• At least one (1) passed Society of Actuaries Exam
• Minimum or better final grade point average of 3.2 on a 4.0 scale
• Willingness to relocate based on rotational program needs

In addition, preferred candidates for the program should have:

• Career aspirations to attain an Actuarial Fellowship designation  
• Demonstrated math and analytical skills
• Demonstrated proficiency in oral and written communications
• Internship(s) in the insurance industry
• Participated in some team or individual case study projects in their undergraduate program
• Technical skills such as the ability to code in at least one programming language  

As with all of our programs, our Actuarial Internship Program feeds in to our Actuarial Development Program. For the third year straight we have filled the available positions in our program through our internship class. Feel free to check out other current Actuarial openings.