SVP, Risk Management US Mortgage Insurance recruitment

RESPONSIBILITIES

• Provide oversight and direction for the management of all risks across the US Mortgage Insurance business.

• Partner with the business leadership team to ensure the strategic vision of the firm is developed with consideration for the risks involved. Accountable to ensure business strategies properly reflect the potential rewards and risks associated with them.

• Genworth Financial and U.S. Mortgage Insurance subscribe to an enterprise wide risk management view of risk and, hence, -the scope of the risks assessed encompasses any event that causes deviation in the stated financial goals of the enterprise with specific accountability to ensure learnings on risk emergence from US Mortgage Insurance activities are shared and leveraged by other Genworth businesses as applicable.

• Responsible for the identification, assessment and management of all risks associated with both new insurance written and existing inforce policies. This includes responsibility for ensuring that the organization proactively determines which risks it will accept and retain and that it actively manages the retained exposures. To accomplish this – accountable for establishing the firm's appetite for risk and ensure activities of the business comply with it. . Accountable to assure Senior Leaders that risk management framework/mindset is pervasive across all the internal control structures organization wide (legal, compliance, financial controllership, audit).

• Active involvement in supporting growth including the evaluation of new products, market segments and pricing while maintaining risk disciplines.

• Responsible for a US risk organization of 30+ employees. Ensure all of the organizational structures / competencies and tools / processes are designed and deployed to ensure the organization is effectively managing towards the Enterprise’s risk management program.

• Responsible for overall portfolio analysis and management including driving development of early warning tools and monitoring portfolio concentrations / exposures to various products, macroeconomic factors and changes in yield curve and performing scenario analyses including stress testing, sensitivity and worst case to assess portfolio exposure to credit/market factors.

• Articulate to outside observers/regulators/rating agencies the performance of the portfolio, key drivers of performance, including macroeconomic factors, and a view towards the future.

• Chair the Business monthly Risk Committee and pro-actively drive the agendas to assure delivery of all Risk objectives

• Attend the Enterprise monthly Risk Committee and assure that the Business activities are reported thoroughly when required.

• Developing, leading and managing US Mortgage Insurance's ongoing proactive risk management efforts in the following areas:

o Credit approvals of programs and transaction structures

o Economic capital and RAROC

o Credit policy, underwriting guidelines, quality control

o Establishing appropriate policies and actions for loss mitigation

o Profitability monitoring

o Loss forecasting

o Audit

o Investor products

o Cutting edge risk models and systems

BASIC QUALIFICATIONS

• Strong academic credentials; Advanced degree or related experience in Business, Finance, Mathematics, or Statistics - Actuarial Sciences

• 10+ years in US Mortgage lending and/or mortgage insurance

• Senior level Risk Management experience in mortgage lending or mortgage Insurance

• Credit risk evaluation and scorecard development

• Experience with active mortgage portfolio management (e.g. credit risk evaluation, scorecard development and loss mitigation routines)

• Well-versed in macroeconomic factors driving US mortgage market (e.g., monitoring housing supply, interest rate movement, house appreciation, etc.)

• Well versed in all forms of federal and state regulatory compliance issues

• Strong planning and organizational skills, with an ability to establish a strategic direction and subsequently outline initiatives and develop priorities in support of that vision

• Excellent communication skills to lead ongoing discussions at the CEO, Rating Agencies, Wall Street analyst and industry leader levels

• Strong communicator capable of articulating complex subject matter

• Demonstrated analytical and critical thinking skills

• Motivate and manage a diverse team towards the strategic goals of the risk management function

• Ability to build consensus across various constituencies and achieve results through the efforts of others

• Collaborative leadership style