Genworth Financial, an insurance holding company, has appointed Michael Derstine as chief risk officer for the U.S. mortgage insurance unit, effective as of Jan. 3.

Previously, Derstine served in various leadership roles at Republic Mortgage Insurance Company, 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. He also served as pricing group manager during his time at RMIC, where he lead mortgage valuation, actuarial analysis and quantitative modeling teams.