Risk Modelling Actuary

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. As a result of a colleague moving to another role internally , a permanent Risk Modelling Actuary role has arisen within the Risk Modelling team to help it achieve its Internal Model development and maintenance objectives. The Role:This role requires a part or fully qualified actuary, or someone with quantitative practical work experience at this level. The role will include a mixture of technical work (development work and business-as-usual responsibilities) and communication. This isa permanent position which has a blended approach between working from home and our Stirling or London offices .

• The annual calibration of market, credit and operational risks, as well as the dependency structure between risks, which includes collecting data, refreshing analyses, understanding changes, rationalising judgements and presentation to senior stakeholders.
• The refresh of a number of matching adjustment policies and the performance of compliance and monitoring exercises required by these policies.
• Maintaining the methodology for valuing M&Gs lifetime mortgage in base and stressed conditions.
• Undertake ongoing development to the methodology and tools which underpin the calibration. This involves research and implementation of enhancements, with associated testing and communication. The implementation of new risk models requires interaction withFinance Reporting and the IT developers who own the underlying engine, as well as the users who run the tools.
• The production of monthly and ad-hoc market data packs, with responsibility for delivering accurate and timely reports to end users across M&G.
• The refresh of Group-wide Operating Standards for the production of Solvency II regulatory capital, including ensuring these keep up to date with change in the regulatory environment.

Key Work Level Accountabilities: Experienced Colleague:

• Accountable for providing a quality service or product to customers and stakeholders, using skills/experience built through significant practical experience or training.
• For team leaders, accountable for ensuring the team the role supports is delivering a quality service or product.
• 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:

• Work collaboratively with colleagues and take personal accountability to maintain and enhance controls you are responsible for to support improvement of the overall control environment, customer outcomes and a reduction in M&Gs operational risk.
• Continue the development and calibration of risk models and simulation engines within the Solvency II Internal Capital Model.

Key Knowledge, Skills & Experience:

• Part or fully qualified actuary, or quantitative specialist with similar work experience.
• Strong actuarial knowledge, preferably with a focus on capital modelling.
• Understanding of financial markets and modelling methods applied to them.
• Strong understanding of statistics and statistical methods.
• Knowledge of Monte Carlo capital modelling desirable.
• Experience of the practical implementation of the theoretical solutions, for example, in Excel/VBA, MATLAB, Python.
• 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.

Recruiter: Matt Campbell Close Date: 3rd January 2024 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.