Website Genworth Financial
Chief Risk Officer, Investments
The Chief Risk Officer, Investments, thoroughly understands investment risks and their consequences to help inform organizational strategic direction and decisions.
In this highly visible role, you will be responsible for the organization’s investment risk management function. Additionally, you identify risk in the Investment portfolio and the development of strategies to mitigate those risks. You will develop and execute policies, procedures and processes to mitigate various types of investment-related risk, including credit risk, interest rate risk, compliance risk (particularly as it relates to adherence to investment objectives and guidelines); pricing and valuation risk, credit and counterparty risk; and execution and trading risk. Finally, you will partner with the Investments leadership team and the business segments to ensure the strategic vision of Investments is developed with consideration for the risks involved and proactively manage the risk reward balance.
With a dual reporting line to both Genworth’s Chief Risk Officer and the Chief Investments Officer, you will provide counsel to trading, portfolio management, fixed income and other areas of investments and Genworth investment risk.
Your expertise will be used to manage the organization and the processes to ensure that investments is effectively moving towards its enterprise risk management objectives. In addition, you will ensure the risk management framework/mindset is pervasive across all of Investments and is consistent with principles and guidelines established by Genworth’s Corporate Chief Risk Officer.
- Drive creation of best in class risk management process for the Genworth Investment Unit
- Actively engage in the Risk and Investment leadership teams
- Conduct proactive management of risks within the firm’s risk appetite framework, including framework modification recommendations
- Identify and monitor risks in Investments portfolio and develop strategies to mitigate those risks
- Develop materials and present in various senior level committees, including the Asset Liability Management Committee, the Investment Committee and the Risk Committee
- Establish credit review capability that flags credit issues and surfaces to senior management
- Manage all aspects of investment risk including credit, market and operational risk and credit approvals
- Review and approve new asset classes, derivatives strategy and external asset managers
- Conduct thorough reviews of portfolio holdings
- Drive development of early warning tools
- Monitor portfolio concentrations and exposures to various sectors, securities and duration levels
- Perform scenario analyses, including stress testing, sensitivity and worst case to assess portfolio exposure to credit/market factors
- Conduct periodic assessments of tracking error on both an historic and predictive basis
- Identify emerging credit risks and work with finance and portfolio management functions to mitigate the risks
- Maintain and improve reporting for both investments and Genworth risk
- Coordinate risk unit organizational issues, including hiring, training and mentoring
- Drive risk adoption of cutting-edge techniques and systems
- Provide counsel on portfolio management, product development, compliance and M&A activity
- Manage staff of 2-5 investment risk professionals
- Bachelor’s degree
- 15 years of risk management or related investment management experience
- Relevant insurance or investments industry experience
- Demonstrated credit evaluation and interest rate management skills in an investment management setting
- Strong knowledge of investment products, strategies and markets
- Exemplary quantitative capabilities and demonstrated analytical skills, especially in structured finance area
- Strong people management and leadership capabilities
- Strong project management capabilities
- Excellent communicator capable of articulating complex subject matter
- Creative thinker who is open to new ideas
- MBA or CFA
- FRM or PRM designations
- Deep expertise in fixed income instruments, including derivatives
- Deep expertise in credit capabilities
- We have a real impact on the lives of the people we serve
- We work on challenging and rewarding projects
- We give back to the communities where we live
- We offer competitive benefits including:
- Medical, Dental, Vision, Flexible Spending Account options beginning your first day
- 20 days of Choice Time Off your first full year
- 11 Paid Holidays
- 40 hours of volunteer time off
- 401K Account with matching contributions
- Tuition Reimbursement and Student Loan Repayment
- Paid Family Leave
- Child Care Subsidy Program
Genworth Financial, Inc. is a leading insurance holding company committed to helping families achieve the dream of home ownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871.
Led by our Chief Investment Officer, the Investment Department manages a consolidated investment portfolio of nearly $75 billion and consists of investment professionals focused on portfolio management, risk management, asset management, derivatives, operations, finance and accounting functions.
We know we can’t deliver on our mission unless we deliver for our employees. That’s why we’re committed to creating a work environment that fosters inclusion, camaraderie, rewarding work, community involvement, and a focus on our employees’ well-being. We know each employee contributes in their own unique way and we’re dedicated to supporting every one of them to help them reach their full potential.
To apply for this job please visit gnw.wd1.myworkdayjobs.com.