Genworth Financial, Inc. ($10.48 0%) today announced that Michael Derstine joined the company January 3 as Chief Risk Officer for its Genworth U.S. Mortgage Insurance unit.

Derstine previously worked at Republic Mortgage Insurance Company, where he held several leadership roles, most recently as capital deployment group manager.

In this position, he led the underwriting risk policy, portfolio risk monitoring and pricing groups, and developed risk assessment and performance monitoring strategy focused on early detection and intervention of underwriting and performance deficiencies, and developed models to assess future default risk.

Derstine previously served as pricing group manager at RMIC, where he led the mortgage valuation, actuarial analysis and quantitative modeling teams. He has been a frequent presenter before regulators and at industry conferences.