SVP, Investment Risk recruitment

Description:

This position has overall responsibility for the organization's investment risk management function. This role is responsible for the identification of risk in the Investment portfolio and the development of strategies to mitigate those risks. The Investments Risk Leader also develops and executes 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. The Investments Risk Leader 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 equation.

Individual dual reports to the Chief Investments Officer and to Genworth's Chief Risk Officer. Individual provides counsel to trading desk, portfolio management, fixed income team and other areas of investments and Genworth Investment Risk.

The Investments Risk Leader will develop the organization and the processes to ensure that investments is effectively managing towards its enterprise risk management objective. In addition, it is the responsibility of the Investments Risk Leader to ensure the risk management framework/mindset is pervasive across all of Investments and is consistent with principles and guidelines established by Genworth's Chief Risk Officer.

RESPONSIBILITIES
• Continue driving creation of best in class Risk Management process for the Genworth Investment Unit.
• Be an integral part of the CIO's leadership team.
• Establish a framework to express the firm's risk appetite and proactively manage those risks within that framework.
• Identification and monitoring of risks in Investments portfolio and development of strategies to mitigate those risks. (Investments Enterprise Risk)
• Establishment of credit review capability that flags credit issues and surfaces to senior management as appropriate.
• Management of 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 through reviews of portfolio holdings
• Drive development of early warning tools
• Monitor portfolio concentrations and exposures to various sectors, securities, duration levels and changes in yield curve.
• Utilizing VaR or other tools, 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 as required.
• Identify emerging credit risks and work with finance and portfolio management functions to mitigate the risks
• Manage Risk reporting within Investments and to GNW management
• Coordinate Risk unit organizational issues including hiring, training and mentoring
• Drive Risk adoption of cutting edge techniques/systems
• Provides counsel on portfolio management, product development, compliance, MA activity.
• Manages staff of 5-10 investment risk professionals.
• Has thorough knowledge of the business unit's products, strategies, and market characteristics.

BASIC QUALIFICATIONS
• 15 years of risk management or related investment management experience with emphasis on market risk expertise
• Relevant insurance 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, open to new ideas
• Strong academic credentials; MBA or CFA preferred; FRM or PRM designations desired

PREFERRED QUALIFICATIONS
• Deep expertise in fixed income instruments, including derivatives
• Deep expertise in credit capabilities.