Dwayne McGraw Hired as Head of Valuation for ING U.S. Retirement Services
ING announced that it has hired Dwayne S. McGraw to serve as Head of Valuation for the U.S. Retirement Services division, effective April 11.
In this role, McGraw is responsible for providing leadership and guidance on all regulatory and accounting valuation issues that impact ING’s Retirement Services business. This includes serving as the primary point person for overseeing the calculation of reserves, producing financial statements, completing rating agency surveys, internal and external valuation audits and systematic reporting to regulators, and monitoring emerging valuation issues with the National Association of insurance Commissioners (NAIC).
McGraw comes to ING with over 18 years of industry experience in positions of increasing responsibility. His professional background has included the modeling of life and annuity products, reserve valuation, risk management, developing financial strategies and staff management.
Most recently, MGraw served as Supervising Actuary of Life Insurance at Genworth Financial, a role he held since 2008, where he managed a team that was responsible for the valuation, asset and liability management, cash flow testing, financial plan projections and analysis, and risk management for Genworth’s life insurance business. Previously, he was Vice President and Corporate Actuary with FBL Financial Group.
McGraw, who is based in ING’s Windsor, Conn. office, reports to Lisa Thomas, Chief Insurance Risk Officer for ING U.S. Retirement Services.
“We’re thrilled to have Dwayne lead our Retirement Services valuation team,” said Thomas. “This is a dynamic and competitive time for the industry, and the contributions made by seasoned actuarial professionals are more critical than ever to a company’s success. We’re confident Dwayne’s guidance and acumen will be a tremendous asset to our organization.”
McGraw earned a B.S. in mathematics from Virginia Polytechnic Institute and State University (Virginia Tech), and an M.S. in mathematics from Northeastern University. He is currently expecting his MBA from Virginia Tech in August 2011. In addition, McGraw is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries, and has completed qualification standards to sign Prescribed Statements of Actuarial Opinion.
ING’s U.S. Retirement Services business holds top rankings in the defined contribution industry with more than $290 billion in combined assets under management and administration. ING is one of the few providers that serves all types and sizes of customers, including corporate, government, healthcare, K-12 and higher education employers.
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in over 40 countries. With a diverse workforce of more than 107,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
In the U.S., the ING (NYSE: ING) family of companies offers a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, institutional investment management, annuities, employee benefits and financial planning. ING holds top-tier rankings in key U.S. markets and serves approximately 30 million customers across the nation. For more information, visit ing.us.