Genworth Financial Recruits New Chief Risk Officer

""Genworth Financial, Inc.,"":https://www.genworth.com/#tab1-tab announced a new chief risk officer (CRO) for its ""Genworth U.S. Mortgage Insurance"":http://mortgageinsurance.genworth.com/ (USMI) unit.

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Michael Derstine was selected for the position as CRO. Before joining Genworth, Derstine worked at Republic Mortgage Insurance Company where he most recently served as capital deployment group manager. In that particular role, he led the underwriting risk policy, portfolio risk monitoring, and pricing groups.

He has also been known to give presentations before regulators and at industry conferences.

""Mike is a respected mortgage insurance industry veteran with experience in leading risk and multiple other functions, and strong relationships with regulators, government-sponsored enterprises, and rating agencies that make him a valuable addition to the USMI Risk team,"" said Rohit Gupta, president and CEO of Genworth USMI.

Derstine earned an MBA degree from Wake Forest University and a BS degree from Messiah College.