Insurance Solutions Actuary

M&G plc.
London, United Kingdom
05 Aug 2022
14 Aug 2022
Industry Sector
Finance - General
Employment Type
Full Time
At M&G our vision is: to become the best loved and most successful savings and investment business and we're looking for people who are excited about joining us on our journey. We're digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we're looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.

We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationality, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home 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.

What you can expect from us:
We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:
  • Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
  • Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
  • Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
  • Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

How do we support our employees:
All M&G plc employees will be supported in the workplace through our M&G Employee Assistance Programme (EAP). If you need counselling, confidential financial or legal advice. The service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support.

The Role:
The Insurance Solutions Team was formed in 2019 in order to maximise M&G's competitive advantage as both asset owner (Insurer) and asset manager. Within M&G it bridges Distribution, Investment Management and Provision of Insurance. The Corporate Risk and Investment Solutions (CRIS) team was formed in 2021 to bring together M&G's strengths in building and delivering institutional savings and insurance products. Both teams have a broad remit to grow global insurance AUM and GWP through designing and delivering solutions for Insurers and Defined Benefit pension schemes, and building retail products for institutional distribution.

Due to ongoing success and a strong opportunity set, the team is adding headcount in a number of areas. This role is focused on developing on-balance-sheet insurance products that sit across both Insurance Solutions and CRIS with a particular focus on pricing and structuring. Commensurate with their experience, skill set, and interests the successful candidate will be involved in diverse projects across both teams and have the opportunity to shape the development of their role as products are launched and the team grows.

Key Responsibilities for this role:
  • Own significant elements of pricing and structuring workstreams across multiple products in development.
  • Provide support to Pricing Director across all workstreams
  • Review, challenge and enhance technical work carried out by external consultants, internal support teams, and junior actuaries
  • Support Head of Insurance Solutions, CRIS CFO, and other senior stakeholders with ad hoc queries and technical analysis
  • Work closely with Investment, Finance, Risk, Legal and Operations teams to integrate commercial, pricing and structuring workstreams into all aspects of product development
  • Work closely with external consultants, brokers and clients to respond to queries, manage expectations and communicate results
  • Work closely with Sales Directors to develop strong relationships with clients, prospects and intermediaries, identify and design solutions, and help close on opportunities
  • To 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, customers outcomes and a reduction in M&G's operational risk.

Key Knowledge, Skills & Experience:
  • Qualified, commercially minded Actuary with exceptional technical skills
  • Strong knowledge of Solvency II, in particular balance sheet construction, liability discounting, asset strategy & ALM
  • Ambitious and self-motivated with ability to work on own initiative/prioritise workload to strict deadlines
  • Strong communication and presentation skills, ability to understand & capture client needs and manage internal stakeholders
  • Experience of developing/structuring and pricing institutional insurance products
  • Experience of VBA or actuarial modelling software beneficial
  • Understanding of non-standard capital and reinsurance structures beneficial
  • Understanding of bulk annuity pricing beneficial
  • Understanding of DB pensions modelling beneficial

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 are 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

Work Level: Experienced Colleague
Recruiter Name: Suzie Threlfall
Closing Date: 4th August 2022

We live by four behaviours at M&G and we ask all our employees to:
  • Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
  • Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
  • Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
  • Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things

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