Risk Modelling Actuary / Senior Analyst (12-month secondment/FTC)

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 also offer work place accommodations to ensure you have what you need to effectively deliver in your role.

Role

The role holder will join the Solvency II Internal Capital Model development project team and play a key role in the phase of the project that focusses on the development of the risk modelling of illiquid credit-risky assets.  The role will include a mixture of technical work, drafting of proposal papers and technical documentation, and communication with various stakeholders around M&G plc.

In addition to supporting the development of the methodologies within the Solvency II credit risk model and tools that underpin the calibrations for illiquid credit-risky assets (e.g. performing tasks within the risk identification and risk modelling exercises), the role will provide the opportunity to engage with a wide range of areas across the business, including teams within Treasury & Investment and M&G Group to help them understand the project plans, discuss and agree asset and market data requirements, draft proposals for internal and PRA approval on the scope of work to be performed.

This is an initial 12-month position (which may have an option to extend), reporting to a Risk Modelling Manager, which has a blended approach between working from home and in our Scotland or London offices.

The wider Risk Modelling team is responsible for economic and market-related methods and assumptions used to place a value on benefits that the company provides to customers and the assets used to back these liabilities, both on a best estimate basis and for the additional capital held to protect solvency under adverse events, for example:

• The annual calibration of market and credit risks, as well as the dependency structure between risks, which includes collecting data, refreshing analyses, understanding changes, rationalising judgements and presenting conclusions and proposals to senior stakeholders.
• Undertaking ongoing development to the methodology and tools which underpin the calibrations.  This involves research and implementation of enhancements, with associated testing and communication.  The implementation of new risk models requires interaction with Finance colleagues and the developers who own the underlying engine, as well as the users who run the tools.
• The supporting of strategic asset-related projects, including the opportunity to engage with a wide range of areas across the business.

Key Work Level Accountabilities         

Experienced Colleague:

• Provides a quality service or product to customers and stakeholders, using skills/experience built through significant practical experience or training.
• Works within established frameworks and procedures, with the freedom to interpret them to solve a range of problems.
• Delivers outputs that are clearly defined, using discretion over how to achieve them.
• Makes suggestions for improvements to the work of the team, based on previous experience and knowledge of similar situations.

Key Responsibilities for this role

• Support the development of economic and market-related methods and assumptions used to, for example, calculate the value of liabilities, regulatory capital, and options and guarantees.
• Work collaboratively with colleagues around M&G to deliver successful outcomes.
• Take personal accountability to maintain and enhance controls to support the improvement of the overall control environment, improvement of customer outcomes and reduction in the company’s operational risk.
• Generate new ideas and make improvements to existing processes.
• Ensure appropriate stakeholder management and governance.

Key Knowledge, Skills & Experience

Essential:

• Bachelor’s degree, Master’s degree or PhD in a quantitative subject, e.g. mathematics, computer science, actuarial science.
• Experience of developing working relationships with key stakeholders.
• Experience of presenting findings and results, and building an understanding of audience-specific communication requirements.
• A track record of successful delivery in pressured environments with the ability to cope with competing demands.
• Good knowledge of financial markets.
• Good knowledge of multiple asset types.
• Good understanding of statistics and statistical methods (e.g. stochastic simulation, VaR methodology and back-testing).
• Good practical experience in code development in (Python / C++ / R / Matlab).
• The ability to implement novel technical solutions that are pragmatic, so they fit within business needs and produce analysis to support solutions.

Desirable:

• Professional designations such as FIA/FFA, CFA, FRM viewed as favourable.
• Experience with research and development of stochastic models is a strong plus.

Job Level: Experienced Colleague

What we offer:

At M&G, we’re committed to helping you thrive and supporting your wellbeing, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, while planning confidently for your future. Our UK benefits include:

• As a savings and Investments firm we are proud to offer a valuable pension scheme of 18%, with 13% made up of Employer Contributions and 5% Employee Contributions. We also offer Share Save and our Share Incentive Plan, together with access to 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 5 extra days and additional flexibility through our Time Off When You Need It policy – to balance your work and personal commitments.  

• Our market leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - as supporting families is a core aspect of our inclusive culture.

• Health & Protection cover including Private Healthcare, Critical Illness cover and Life Assurance for you, with family options - for peace of mind.

To explore more about life at M&G and our full benefits offering, visit Life at M&G

We have a diverse workforce and an inclusive culture at M&G, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.

M&G is also proud to be a Disability Confident Leader, and we welcome applications from candidates with long-term health conditions, disabilities, or neuro-divergent conditions. 

If you need assistance or an alternative means of applying for a role due to a disability or additional need, please let us know by contacting us at: [email protected]