Risk Modelling Senior Analyst / Data Scientist

At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns.

Through our behaviours of 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 part in the development of the methodologies within the Solvency II credit risk model and tools that underpin the calibrations.  The role will include a mixture of technical work, the drafting of technical documentation and communication with various stakeholders around M&G plc.

This is a permanent position, 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 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, data science.
• 3+ years of experience in quantitative modelling gained within the insurance, banking or asset management industry.
• 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).
• Ability to analyse credit risk related datasets and interpret the output to understand trends, patterns and insights.
• 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.
• A track record of successful delivery in pressured environments with the ability to cope with competing demands.
• Experience of developing working relationships with key stakeholders.
• Experience of presenting findings and results, and building an understanding of audience-specific communication requirements.

Desirable:

• Professional designations such as CFA, FRM, FIA/FFA would be viewed as favourable.
• Experience in the use and enhancement of predictive models using statistical and data science techniques, including feature engineering.
• Performing experience analysis and data manipulation, including the utilisation of machine learning techniques, in relation to monitoring credit experience and analysing trends.
• Experience with research and development of stochastic models is a strong plus.

Work Level: Experienced Colleague

Recruiter: Matt Campbell

Close Date: 16th June 2025

We have a diverse workforce and an inclusive culture at M&G plc, 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.  Being a Disability Confident Leader means that candidates who meet the minimum criteria of a job, will be offered an interview if they 'opt in' to the scheme when applying. 

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]