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Genworth appoints two new senior executives for its USMI unit

Published 10 February 2012

Genworth Financial Insurance has appointed Ray Romano as senior vice president and chief risk officer (CRO) and Dean Mitchell senior vice president and CFO for its US Mortgage Insurance (USMI) unit.

Prior to Genworth, Romano worked for seven years with Freddie Mac as the executive vice president - chief credit officer responsible for credit management activities including risk management.

Before joining Freddie Mac, he worked with Washington Mutual Bank, FSB as senior vice president - chief credit and risk management officer - Home Loans Group in core areas of operational risk management.

Romano also held leadership positions with North American Mortgage, Dime Savings Bank of NY, FSB, and CITICORP.

Genworth's president and CEO of USMI business Kevin Schneider said that Romano's will contribute to focus on the long-term success of mortgage insurance business.

Since August 2011, Mitchell has served as CFO for USMI and was responsible for leading finance and accounting functions, while driving USMI's capital and regulatory agenda, and interfacing with the board of directors, rating agencies and investors.

Prior to this role, Mitchell was vice president - capital management for the USMI insurance segment. He joined Genworth in June 2004 and was member of the Global Capital Management.

Before joining Genworth, Mitchell was treasurer of Reichhold, a global chemical manufacturer located in Research Triangle Park, NC, and the director of treasury at Business Telecom, a privately held telecommunications provider located in Raleigh, North Carolina, US.

"Dean's strong analytical, problem solving, communication and execution skills to the CFO role will be key contributions to USMI's financial discipline and positioning of business for long-term success." Schneider added.