Risk Modelling Manager (2-year FTC)

M&G plc.
Edinburgh, United Kingdom
06 Dec 2022
21 Dec 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
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 clients and identifying new opportunities to make a positive impact for our environment and communities . To help us achieve our vision we're looking for exceptional people who live our values of care and integrity and who can inspire others; embrace change; deliver results 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:
This role requires a Qualified Actuary, or someone with quantitative practical work experience at this level. The role will involve supporting the development of credit risk modelling for non-standard credit assets.

The role can be based from home with occasional visits to our Stirling or London offices

The role holder will report to the Head of Risk Modelling. The wider Risk Modelling team is responsible for:
  • 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.
  • 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 with Finance 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 annual 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:

Manager or Expert:
  • For people managers, accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders.
  • For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise.
  • Applies judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for customers, cost and risk.
  • Manages conflicts that may impact delivery.
  • Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture.
  • Identifies and anticipates need for changes to continuously improve quality and efficiency of output.
  • Manages resources and risks using expert judgment, know-how and experience.

Key Responsibilities for this role:
  • 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.
  • To lead the production and delivery of the tasks for which the role holder is responsible.
  • Have responsibility for ensuring that team processes run smoothly, co-ordinating input from others.
  • To ensure appropriate governance.

Key Knowledge, Skills & Experience:
  • Qualified Actuary, or quantitative specialist with similar work experience.
  • Strong technical ability in order to provide oversight of work.
  • Knowledge of life insurance products and actuarial modelling techniques.
  • Understanding of financial markets and modelling methods applied to them.
  • Excellent understanding of statistics and statistical methods.
  • Experience in programming languages such as MATLAB and VBA.
  • Proven experience in risk model development and calibration.
  • The ability to implement novel technical solutions that are pragmatic so they fit within business needs and produce analysis to support solutions.
  • Experience in managing a team, providing oversight and guidance.
  • A track record of successful delivery in pressured environments with the ability to cope with competing demands.

Recruiter: Matt Campbell
Work Level: Manager / Expert
Close Date: 19th December 2022

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.
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