Insurance Solutions Actuary

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 team has a broad remit to grow global insurance AUM through designing and delivering products / solutions for Insurers and Defined Benefit pension schemes.

This includes:

• Coordinating strategy, building and advising on suitable product, ensuring best in class client service and developing new and existing business
• Asset management sales to third-party insurers, with a particular focus on holistic mandates comprising public and/or private debt, targeting specific insurance metrics such as Return on Capital, Cash-flow Matching etc.
• Negotiating strategic partnerships with third-party insurers comprising primarily investment management services, but with elements of insurance expertise (modelling of private assets for capital / risk purposes; actuarial assumption setting, strategic asset allocation work, etc)
• Developing, marketing and implementing de-risking / covenant enhancement solutions involving insurance risk transfer for Defined Benefit pension schemes

Due to ongoing success, and a strong opportunity set, the team is looking to grow in a number of areas. This particular role is focused on developing, marketing and implementing de-risking solutions for Defined Benefit pension schemes, however, commensurate with their experience / skill set, the successful candidate can expect to be involved in diverse projects across the three broad areas outlined above.

The role requires working closely with pension scheme clients and their advisors, as well as engaging with relevant internal stakeholders. The role will suit a technical actuary who enjoys client engagement and solutions design. The successful candidate will have strong actuarial skills, experience of annuity pricing, and will act as a subject matter expert both internally and externally.

Key Responsibilities for this role:

• Support the development of pricing and risk management tools for new insurance products
• Develop relationships with pension scheme advisors / consultants, identify and design solutions, and act as transaction lead on opportunities.
• Collaborate with a wide range of internal stakeholders across investment, finance and operations and other functions to deliver on new propositions and bespoke solutions
• Producing technical papers / analysis as part of the governance process for new business.
• Contribute to the development, implementation and maintenance of appropriate marketing and communications strategy including assistance with the organising and attending at events
• Support technical queries relating to balance sheet / capital / pricing issues for third-party insurance clients

Key Knowledge, Skills & Experience:

• Qualified actuary with 5-10 years' experience working in the Investment/Insurance/Consulting industry
• Strong experience of annuity pricing
• Detailed knowledge of capital modelling
• A track record of working on bespoke solutions
• Good knowledge of Solvency II
• Client-oriented with strong service mindset and ability to understand & capture client needs
• Self-motivated and ability to work on own initiative/prioritise workload to strict deadlines

Recruiter Name: Phoebe Ewers

Closing Date: 13th August 2021