At M&G, our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.
Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.
Through telling it like it is, owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.
We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed in your role.
Methodology & Assumptions Actuary
About the Role
Do you enjoy solving complex actuarial challenges, turning ambiguity into practical solutions, and influencing how strategic business decisions are reflected on the balance sheet?
We're looking for a Methodology & Assumptions Actuary to join our Business Development team. This is a unique opportunity to work at the heart of M&G's product innovation and strategic development, helping bring new ideas from concept through to implementation and valuation.
You'll play a leading role in designing and enhancing the methodologies, assumptions and regulatory approaches that underpin our products and transactions. Working closely with teams across Finance, Pricing, Investments, Risk, and more, you'll help ensure that innovative customer solutions can be robustly valued, managed and reported.
This is a role suited to someone who enjoys applying deep technical expertise to new and evolving challenges while influencing outcomes across the business.
Key Responsibilities
Lead the development of valuation methodologies and actuarial approaches for new products, transactions and strategic initiatives, taking ideas from concept through to implementation.
Design and enhance actuarial assumptions and methodologies, ensuring they remain technically robust, commercially appropriate and aligned with regulatory requirements.
Partner with stakeholders across Investments, Finance, Risk, Product Development and Actuarial to deliver innovative customer propositions and strategic business solutions.
Support the integration of new products, assets and transactions into ongoing valuation, capital and financial reporting processes.
Provide expert technical insight on complex actuarial, regulatory and balance sheet matters.
Drive continuous improvement by challenging existing methodologies, identifying opportunities for simplification, automation and greater efficiency.
Contribute to the development of regulatory and accounting interpretations relating to Solvency II, IFRS and emerging industry developments.
Key Knowledge, Skills & Experience
Nearly qualified, newly qualified or qualified actuary.
Strong analytical and problem-solving skills, with the ability to develop technically robust yet pragmatic solutions.Experience in actuarial methodology development, assumption setting and/or valuation work.
Strong understanding of Solvency II and IFRS reporting frameworks.
Ability to communicate complex technical concepts clearly to both technical and non-technical stakeholders.
A collaborative approach, with experience working across multiple teams and disciplines.
Commercial awareness and an interest in understanding how actuarial decisions influence business outcomes.
Desirable Experience
Experience with annuity products, BPA transactions or wider life and pensions business.
Knowledge of asset-liability management and regulatory frameworks, including the Solvency II Matching Adjustment.
Experience in capital modelling, capital reporting or balance sheet management.
Exposure to new product development, reinsurance transactions or strategic business initiatives.
Experience identifying and implementing process improvements, automation opportunities or methodological enhancements.
This is an opportunity to work on some of the most intellectually stimulating challenges and most innovative products in the life insurance market. You'll help shape how business opportunities are translated into actuarial methodologies that directly influence financial and regulatory outcomes.
You'll join a collaborative team that values curiosity, innovation and technical excellence, with the chance to make a visible impact on the future direction of the business while continuing to develop your expertise across a broad range of actuarial disciplines.
What we offer:
We’re dedicated to supporting your wellbeing and helping you thrive, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, and financially plan for the future. Our UK benefits include:
- A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions).
- Access to our Share Save and Share Incentive Plan, alongside financial wellbeing and support services to help give you real confidence to put your money to work.
- Enjoy 38 days annual leave (including bank holidays), with the opportunity to purchase up to five extra days. Our Time Off When You Need It policy gives you the flexibility - to balance work and personal commitments.
- Our market-leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - because supporting families is an important part of our inclusive culture.
- Health & Protection cover includes Private Healthcare, Critical Illness cover and Life Assurance for you, with additional family options - for peace of mind.
To explore more about life at M&G and our full benefits offering, visit Life at M&G
At M&G we strive to have a diverse workforce and an inclusive culture, underpinned by our policies and employee-led networks that offer networking, support and development opportunities for the diverse communities our colleagues represent. We welcome applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.
M&G is proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme, and we welcome applications from candidates with disabilities and long-term health conditions. If you would like to participate in the initiative, you will have the opportunity to indicate this on your application.
We are committed to providing an inclusive recruitment process. All candidates have the opportunity to request reasonable adjustments when applying. If you need any additional support at any stage, please contact us at: [email protected]
Skills Required
- Nearly qualified, newly qualified, or qualified actuary
- Strong analytical and problem-solving skills
- Experience in actuarial methodology development, assumption setting, and/or valuation work
- Strong understanding of Solvency II and IFRS reporting frameworks
- Ability to communicate complex technical concepts clearly to technical and non-technical stakeholders
- Collaborative experience working across multiple teams and disciplines
- Commercial awareness and interest in how actuarial decisions influence business outcomes
- Experience with annuity products, BPA transactions, or wider life and pensions business
- Knowledge of asset-liability management and regulatory frameworks, including the Solvency II Matching Adjustment
- Experience in capital modelling, capital reporting, or balance sheet management
- Exposure to new product development, reinsurance transactions, or strategic business initiatives
- Experience implementing process improvements, automation opportunities, or methodological enhancements
M&G Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about M&G and has not been reviewed or approved by M&G.
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Retirement Support — Pension support in the UK is presented as notably generous versus typical market norms and is positioned as a core part of total reward. Formal materials also highlight share plans and financial‑wellbeing tools alongside pension value.
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Leave & Time Off Breadth — Annual leave in the UK is described as substantially above statutory norms with the option to purchase additional days. Additional flexibility is referenced through policies such as “Time Off When You Need It.”
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Parental & Family Support — Parental policies (e.g., “Inspiring Families”) are characterized as extensive, including long fully paid leave and phased return‑to‑work support. External recognition is cited as reinforcing family support as a distinctive element of the package.
M&G Insights
What We Do
M&G plc is a leading international savings and investments business, managing money for around 4.6 million individual clients and more than 900 institutional clients in 38 offices worldwide. As at 31 December 2023, we had £343.5 billion of assets under management and administration. Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, M&G plc has a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. Our three distinct operating segments, Asset Management, Life and Wealth, work together to provide access to balanced, long-term investment and savings solutions.
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