Associate Actuary

M&G; Stirling; On-site; GBP 40,000 - 60,000; Full time

Job summary

A leading investment firm in Stirling seeks an Associate Actuary for Pricing & Development in Individual Annuities. The successful candidate will produce pricing for annuity products, assist in bonus settings, and collaborate with various teams. Candidates should possess strong analytical skills and a background in life insurance pricing. Flexibility in working arrangements is supported, fostering an inclusive environment.

Qualifications

• Experience of individual annuities and life insurance pricing preferred.
• Proactive and results-focused individual.
• Ability to collaborate with cross-functional teams.

Responsibilities

• Produce new business pricing for Individual Annuity products.
• Assist with with-profits bonus setting.
• Contribute to pricing assumption reviews.

Skills

Commercially minded Student Actuary

Technical skills

Data and trend analysis

Strong communication skills

Analytical skills

Job description

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At M&G, our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life, and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients and superior shareholder returns.

Through our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent.

We will consider flexible working arrangements for any of our roles and also offer workplace accommodations to ensure you have what you need to effectively deliver in your role.

The Role: Associate Actuary, Pricing & Development - Individual Annuities

Individual Life & Pensions is a division of M&G Life, responsible for the manufacture and management of individual insurance products within the UK and internationally.

We have a strong ambition to increase our share of the Fixed Term Annuity market and expand into Lifetime Annuities. We are adding headcount to the Individual Annuities Pricing & Development Team to deliver this goal.

The remit of the team is to establish and execute a competitive pricing strategy for our with-profits annuity propositions and ensure all technical elements associated with launching and maintaining our products are appropriately designed and implemented.

This includes, but is not limited to, establishing a valuation methodology for new business, assisting the build of a customer quotation platform, negotiating and setting up longevity reinsurance, and developing an enhanced annuity underwriting process.

This role involves collaborating with a wide range of internal teams and external partners to ensure the successful development and management of individual annuity products.

Key responsibilities for this role

• Produce new business pricing for our Individual Annuity products.
• Take responsibility for regular BI updates.
• Assist with the with-profits bonus setting for existing business.
• Support implementation and testing of calculations on IT systems.
• Contribute to pricing assumption reviews through the production of robust experience and market analysis.
• Develop new and enhanced modelling capability, including tech solutions across the Individual Annuity pricing infrastructure.
• Assist with the development and launch of new Individual Annuity products.

Knowledge, skills, and experience

• Commercially minded Student Actuary with exceptional technical skills.
• Experience of individual annuities, bulk annuities, life insurance pricing, or UK pension and longevity modelling strongly preferred.
• Experience with data and trend analysis and statistical techniques to develop compelling propositions and assess risk.
• Strong communication and presentation skills to effectively convey technical information to non-technical stakeholders.
• Ability to collaborate with cross-functional teams, including Finance, Marketing, Investment, Risk, and external business partners.
• Strong analytical and problem-solving skills, with the ability to interpret complex data.
• Proactive and results-focused – responding quickly and adaptably to urgent priorities as they arise.

Job Level: Colleague

Recruiter: Phoebe Ewers

We have a diverse workforce and an inclusive culture at M&G plc, underpinned by our policies and our employee-led networks that provide networking opportunities, advice, and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability, or long-term condition, 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.

M&G is also proud to be a Disability Confident Leader, and we welcome applications from candidates with long-term health conditions, disabilities, or neurodivergent conditions. Being a Disability Confident Leader means that candidates who meet the minimum criteria of a job will be offered an interview if they 'opt in' to the scheme when applying.

If you need assistance or an alternative means of applying for a role due to a disability or additional need, please let us know by contacting us at: