PAC Capital Modelling 12 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 Role:An exciting new opportunity has arisen for a one-year secondment to work in the PAC Capital Modelling team, under the direction of the Senior Manager - Capital Modelling. The job involves the management of the companys suite of shareholder and with-profit capital "lite" models. The successful application will gain significant exposure to M&Gs Internal Capital Model (ICM) which is used primarily to determine key Solvency IIbalance sheet outputs including the Solvency Capital Requirement (SCR) and Risk Margin (RM) but is also used for wider company solvency estimates and stress testing. The successful application will develop a good understanding of key PAC business-lines, in particular non-profit annuities, lifetime mortgages, unit-linked business, with-profits and the risks that they are exposed to. This role requires strong numerical and analytical skills and is suited to someone who has previous practical experience across a range of Finance specialisms building practical experience and a broader understanding of the function and/or wider business. Key Responsibilities:Delivery & Technical knowledge:

• Develop a good understanding of the management of the balance sheet.
• Develop a good understanding of the key business-lines i.e. Non-Profit Annuities, Life Time Mortgage, Unit-Linked, With-profit business and how these behave in stress scenarios.
• Develop a strong working knowledge of M&Gs Internal Capital Model (ICM).
• Deliver the half-yearly calibration and quarterly validation of the lite models, with the Capital Modelling team.
• Deliver updated shareholder/policyholder lite models for each quarterly valuation with some understanding of movements.
• Work closely with other members of the wider capital modelling team to support high-quality delivery of team output.

Problem Solving:

• Examine the reason for any bad-fit and perform investigations to help improve the fit of the capital models.
• Draft and maintain up-to-date, appropriate documentation and checklists for any processes that are implemented.

Accountability:

• Work closely with colleagues at different geographical location, ensuring seamless communications.
• Seek and act on opportunities to develop wider and deeper technical and business understanding of capital models.
• Take accountability of own work and ability to independently conduct peer review of colleagues work by replicating and cross-checking for correctness.
• Build good working relationships with stakeholders in wider team and outside of the team.
• Monitor business and external developments related to own area of responsibility and propose consequent changes to established procedures.
• Maintaining effective communication with Stakeholders and leadership team members.
• Compliance - Ensure understanding and adherence to Prudentials Code of Conduct and, where appropriate, comply with all relevant regulatory policies. This includes completion of any mandatory training requirements.

Knowledge & Skills (Must Have) :

• Confidence & excellent communication
• Good level of Stakeholder management skills.
• Understanding of actuarial products.
• Ability to effectively influence colleagues.
• Communicate effectively with others; develop positive networks and working relationships.
• Excellent technical actuarial knowledge, with attention to detail.

Key Knowledge, Skills & Experience:

• 5-7 years of relevant Actuarial experience
• A new or nearly qualified member of the Institute or Faculty of Actuaries and / or Indian Institute of Actuaries.

Location: Kildean or Edinburgh Recruiter: Matt Campbell 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.