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To ensure proactive management and modelling of the capital adequacy analysis and reporting of Shareholders' Equity. Also, to provide proactive interaction with the Rating Agencies and to be the Finance Department liaison with the company's FSA Compliance Officer and for the complete, accurate and timely Reporting to the FSA.
Key responsibilities
1. To support the Chief Financial Officer as regards issues of Capital Management and Investor & Analyst Relations
2. To maintain and develop the firm's Individual Capital Assessment (ICA) and other capital adequacy and allocation models, including capital allocations used for pricing
3. To work with Group Head Office (specifically via Scott Hammond, based in Raleigh, NC) for the appropriate timing of further capital injections and enhancements in line with strategic growth goals
4. To develop the company's relationships with the agencies rating the company; to pre-empt their requirements and, working with the CFO and CEO, to proactively address resolution of rating issues
5. To comply with the FSA Financial Reporting timetable in ensuring the producing complete, accurate and timely reporting by the controllership team
6. To work with the Controllership and FP&A teams within the Finance function to ensure complete, accurate and timely reporting and estimation of Capital & Surplus
7. To provide accounting support in the development of new products and the creation of accounting memoranda to support the rationale of the accounting for new transactions
8. To work with the International and Genworth Group Capital Management Committees in establishing Capital requirements and planning
9. To work with Government Relations team (specifically Francesca Arcidiarco) with respect to capital issues (e.g. Solvency II)
Key customers and relationships
1. The Chief Financial Officer and the Company's Senior Leadership Team
2. The FP&A and Controllership Teams within Finance
3. The Rating Agencies (S&P, Fitch and Moody)
4. The FSA
5. The Business and Product Development teams
6. The Group's Finance Departments in Europe, Raleigh, NC and Richmond, VA
7. The Group's Capital Management Committee and Tax Groups
8. Government Relations team
Skill Set
1. Recognised professional actuarial or statistical qualification or an accountancy qualification (CCAB, CPA or equivalent) Interpersonal, presentational and influencing skills
2. Experience in US GAAP, UK GAAP and European regulatory reporting requirements as regards capital adequacy requirements
3. Experience of the Insurance Industry accounting flows and capital adequacy requirements
4. Effective time and resource management
5. Experience of working with Oracle, or similar GL packages advantageous
6. Experience of actuarial modelling packages, especially Igloo, advantageous
7. Competent in the use of Microsoft office products
Preferred experience in the field of capital modelling or an econometrics or statistical background.
Skill-set and competencies - focus of role can be flexible depending on professional background
Genworth Financial is a leading global insurer serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers throughout 25 countries. It employs some 7,000 people worldwide, boasting a diverse and talented team of professionals. In Europe, Genworth focuses on Payment Protection and Mortgage Insurance, working with banks, IFA's and other financial institutions. Its products help these groups to grow their business by reducing the risk of their loan portfolios and increasing revenues. By combining its pan-European experience with local knowledge and service, Genworth Financial offers its clients a unique partnership approach. For more information on Genworth, please visit: www.genworth.com
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