Actuary With-Profits 8 month Fixed Term

Job Description

At M&G our purpose is to help people manage and grow their savings and investments, responsibly. As a business, we are continuing to take steps towards a sustainable future, delivering better long-term solutions for our customers and clientsand identifying new opportunities to make a positive impact for our environment and communities . To help us achieve our vision were looking for exceptional people who live our values of care and integrity and who can inspire others; embrace change; deliverresults and keep it simple. 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. The Team The with-profits management team, which sits within the Commercial Finance team, serves the following purposes:

• The team provides expert with-profits knowledge to inform key business decisions, delivered through a comprehensive understanding of the investment strategy, bonus policy, capital and expense drivers and profitability of the with-profits business
• Reviewing and challenging of initiatives and changes proposed by the business to the extent they impact the with-profits funds and policyholders
• Enabling the statutory role of the With-Profits Actuary to be fulfilled in connection to the With-Profits business, with a view to safeguarding policyholders interest and ensuring they are treated fairly

In order to discharge its responsibilities in an efficient manner, the with-profits management team is moving to operating as a series of networked teams, clustering individuals in a fluid fashion to address specific pieces of work, although the main prioritiesfor each individual will be specified in their objectives. The role The Actuary - With-Profits will act as a key support to the Senior Actuary - With Profits, providing expert technical advice on issues arising within the context of Prudentials With-Profits business, and the ongoing strategic management of the With-Profitsfunds. The role holder will have a good understanding of the Prudential With-Profits funds and related processes, and an appreciation of how decisions affect policyholder outcomes and the implications for treating policyholders fairly. They will be expectedto review and draft papers for committees and senior management, and to attend meetings or committees to represent to the With-Profits Management team and Finance. Experience :

• Experience of using understanding of the business linked with finance knowledge to support the business, making recommendations and helping to originate creative solutions
• Experience of With-Profits fund management including investment strategy and capital management, and an appreciation of how they affect policyholder outcomes and the implications for treating policyholders fairly
• Experience of providing guidance and advice to the business on actuarial issues
• Experience of simply communicating complex financial information to stakeholders
• Experience of writing Board level reports and papers
• Experience of coordinating activities across multiple Finance teams to ensure the needs of business stakeholders are met
• Experience of advising on the commercial implications of decisions
• Experience of reviewing, analysing and effectively challenging results
• Experience of approaching complex issues from different angles, explaining the cause and effect of situations
• Experience of considering different future scenarios, opportunities and risks to generate creative solutions and operational plans that align with Prudentials strategy

Knowledge :

• Knowledge of financial services regulatory and legislative frameworks
• Knowledge of actuarial professional standards and codes
• Working knowledge of With-Profits business and industry best practice
• Working knowledge, expertise and experience in financial reporting and product pricing
• Awareness of Group and external developments and ability to identify, recommend and implement improvements to processes and policies in line with these
• Knowledge of life and pensions products, markets and competitors

Personal Attributes:

• Adept at building strong relationships
• Ability to show sound, reasoned, judgement
• Ability to anticipate key stakeholders perspectives and appreciate alternative viewpoints when challenged
• Ability to assess and react quickly and decisively to problems once identified and to take tough decisions based on well thought through principles where required.
• Ability to challenge decisions, setting out clearly the rationale for the challenge and clearly communicating own point of view
• Ability to communicate complex issues to peers and other senior stakeholders in a simple and succinct manner
• Ability to generate ideas and options to address complex issues

Qualifications :

• Qualified Actuary

Work Level: Manager / Expert Close Date: 13th November 2023 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 or disability 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.