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Contract Model Risk Governance Jobs in Virginia (NOW HIRING)

Genworth

Actuary, Model Risk

Richmond, VA · On-site +1

$115.90K - $220.20K/yr

Contribute thought leadership and insights on modeling, model risk management, model controls, and model governance * Improve the efficiency and efficacy of existing model risk management processes

Genworth Financial

Actuary, Model Risk

Richmond, VA · On-site +1

Contribute thought leadership and insights on modeling, model risk management, model controls, and model governance * Improve the efficiency and efficacy of existing model risk management processes

Genworth Financial, Inc.

Actuary, Model Risk

Richmond, VA · On-site

$115.30K - $135.60K/yr

Contribute thought leadership and insights on modeling, model risk management, model controls, and model governance * Improve the efficiency and efficacy of existing model risk management processes

Sallie_mae

Manager, Credit Risk

Sterling, VA

... and supporting models/tools, with an emphasis on governance, performance outcomes, and risk ... alignment. * Support issue management activities, including identification, root cause assessment ...

Guidehouse

Model Validation Lead

Mclean, VA · On-site

Advise clients on model risk management, AI governance, and responsible AI practices * Mentor junior staff and serve as a technical authority within analytics and AI engagements What You Will Need

Guidehouse

Model Validation Lead

Mclean, VA

Advise clients on model risk management, AI governance, and responsible AI practices * Mentor junior staff and serve as a technical authority within analytics and AI engagements What You Will Need

Guidehouse

Model Validation Lead

Arlington, VA

Advise clients on model risk management, AI governance, and responsible AI practices * Mentor junior staff and serve as a technical authority within analytics and AI engagements What You Will Need

Truist

Sr. Audit Manager - Quant

Richmond, VA

... model risk governance and oversight for various model types. 7. Train/coach/mentor junior team members to enhance model audit work. Provide training on more complex and difficult areas.

Truist Inc

Quant Audit Manager

Richmond, VA

$102.90K - $135.10K/yr

Maintain the requisite knowledge and experience to assist audit delivery teams with evaluating Truist's adherence to SR 11-7 regulatory guidance on model risk governance and oversight for various ...

ECS

Supply Chain Risk Management Lead

Falls Church, VA · On-site

This position is contingent upon contract award. The War Data Platform (WDP) is a key initiative ... risk governance across the WDP Core Integration program, directing the full lifecycle of third ...

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Contract Model Risk Governance information

What are the key skills and qualifications needed to thrive in Contract Model Risk Governance, and why are they important?

To excel in Contract Model Risk Governance, you need a strong background in risk management, quantitative analysis, and familiarity with regulatory requirements, often supported by a degree in finance, mathematics, or a related field. Proficiency with risk management software, model validation tools, and knowledge of frameworks such as SR 11-7 is typically required. Attention to detail, critical thinking, and effective communication are crucial soft skills for evaluating model risk and collaborating with stakeholders. These skills ensure robust oversight of model risk, regulatory compliance, and support sound decision-making within financial institutions.

What are some common challenges faced by professionals in Contract Model Risk Governance roles, and how can they be addressed?

Professionals in Contract Model Risk Governance often encounter challenges such as keeping up with evolving regulatory requirements, ensuring thorough model documentation, and effectively communicating risk findings to both technical and non-technical stakeholders. Balancing the need for detailed model validation with tight project timelines can also be demanding. To address these challenges, it's important to foster strong cross-functional collaboration, stay updated on industry best practices, and develop clear communication strategies for reporting risk and compliance issues.

What is Contract Model Risk Governance?

Contract Model Risk Governance refers to the framework and processes used by organizations to identify, assess, monitor, and mitigate risks associated with the use of models in contracts or contractual obligations. This role ensures that the use of quantitative models in financial and business contracts complies with regulatory standards and internal policies, reducing the likelihood of errors, misinterpretations, or financial losses. Professionals in this field often oversee model validation, implementation, and documentation, and work closely with compliance, risk, and legal teams. Effective governance helps maintain model integrity and supports sound decision-making across the organization.

What is the difference between Contract Model Risk Governance vs Contract Model Validation?

AspectContract Model Risk GovernanceContract Model Validation
Primary FocusOverseeing and managing risks associated with contract models, ensuring compliance and risk mitigationAssessing and testing contract models to ensure accuracy and reliability
ResponsibilitiesEstablishing policies, monitoring risk exposure, and implementing controlsPerforming independent reviews, testing model assumptions, and validating outputs
Work EnvironmentRisk management teams, compliance departments, regulatory interactionsQuantitative teams, model validation units, audit functions

While Contract Model Risk Governance focuses on managing and overseeing risks related to contract models, Contract Model Validation involves the technical assessment and testing of those models to ensure their accuracy and reliability. Both roles are essential in a comprehensive risk management framework within financial institutions and industries relying on contract models.

What are the most commonly searched types of Model Risk Governance jobs in Virginia? The most popular types of Model Risk Governance jobs in Virginia are:
What are popular job titles related to Contract Model Risk Governance jobs in Virginia? For Contract Model Risk Governance jobs in Virginia, the most frequently searched job titles are:
What job categories do people searching Contract Model Risk Governance jobs in Virginia look for? The top searched job categories for Contract Model Risk Governance jobs in Virginia are:
What cities in Virginia are hiring for Contract Model Risk Governance jobs? Cities in Virginia with the most Contract Model Risk Governance job openings:
Contract Model Risk Governance jobs near you
Actuary, Model Risk

Actuary, Model Risk

Genworth

Richmond, VA • On-site, Remote

$115.90K - $220.20K/yr

Other

Medical, Life, Retirement, PTO

Posted 22 days ago

Job description

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, Model Risk

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

As an Actuary and member of the Model Risk Team, you will assess and manage model risk for Genworth's US Life Insurance, CareScout Insurance, CareScout Services businesses, and Genworth’s Investment and Corporate functions. You will lead independent model validations, partner with model owners and business leaders, and help advance best-in-class model risk management practices across the enterprise.

What you will be doing

  • Lead independent model validations for actuarial, finance, investment, and data science models
  • Validate that models are fit for purpose and functioning as expected based on their design, input data, methodology, and output
  • Provide effective challenge on model rationale, reliability, stability, robustness, and limitations
  • Identify model issues, confirm their resolution, and document validation findings for both technical and non-technical audiences
  • Collaborate with model owners, developers, and business leaders to deliver independent, value-added model risk management
  • Assess the enterprise’s inherent and residual exposure to model risk based on its business processes, and risk management strategies
  • Contribute thought leadership and insights on modeling, model risk management, model controls, and model governance
  • Improve the efficiency and efficacy of existing model risk management processes
  • Share industry knowledge, best practices, and notable validation findings with the Model Risk Team

What you bring

  • Bachelor’s Degree in a quantitative discipline
  • Fellow of Society of Actuaries (FSA) preferred or Associate of the Society of Actuaries (ASA)
  • 5-7+ years of relevant experience within the Life, Annuity, or LTC insurance industries
  • 3+ years of experience developing actuarial models
  • Proficiency in SQL and programming languages such as Python, R, or SAS
  • Knowledge of actuarial valuation, projections, experience study, and pricing models
  • Familiarity with predictive analytics, statistical techniques, and AI/machine learning models
  • Experience with using AI tools to improve processes and boost productivity
  • Ability to document models, processes, and validation findings for both technical and non-technical audiences
  • Ability to work independently, take ownership of projects, and self-study unfamiliar topics as needed    

Nice to have

  • Master’s Degree in a quantitative discipline
  • CERA designation
  • Model development experience with Moody’s AXIS and/or MG-ALFA

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

ADDITIONAL

  • At this time, Genworth will not sponsor a new applicant for employment authorization for this position.

For the State of New York:

The base salary pay range for this role starts at a minimum rate of $115,900 up to the maximum of $220,200.  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.

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