Methodology & Assumptions Actuary

mgpru; Stirling; On-site; GBP 60,000 - 90,000; Full time

Benefits offered by this job

Pension scheme (up to 18%)

Flexible working arrangements

Job summary

M&G seeks an ambitious Methodology & Assumptions Actuary to join the Business Development team. You will design robust valuation methodologies and regulatory-aligned assumptions for innovative products and transactions, influencing balance sheet reporting and capital management.

In this role you will work across Finance, Pricing, Investments and Risk, shaping how new ideas become valued and commercialised while maintaining technical excellence and regulatory compliance.

Qualifications

• Nearly qualified, newly qualified or qualified actuary.
• Strong analytical and problem-solving skills.
• Ability to communicate complex technical concepts clearly.
• Collaborative approach across teams.
• Commercial awareness and business impact focus.

Responsibilities

• Lead development of valuation methodologies for new products and transactions.
• Design and enhance actuarial assumptions and methods with regulatory alignment.
• Collaborate with Investments, Finance, Risk, and Product Development to deliver propositions.
• Support integration of new products into valuation, capital and reporting processes.
• Provide expert insights on complex actuarial and regulatory balance sheet matters.
• Drive improvements through automation and efficiency.
• Contribute to Solvency II, IFRS interpretations and industry developments.

Skills

Analytical skills

Problem-solving

Communication skills

Team collaboration

Commercial awareness

Education

Actuarial qualification

Job description

At M&G, our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions.

Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.

Through 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 offer workplace adjustments to ensure you have the support you need to succeed in your role.

Methodology & Assumptions Actuary

About the Role

Do you enjoy solving complex actuarial challenges, turning ambiguity into practical solutions, and influencing how strategic business decisions are reflected on the balance sheet?

We're looking for a Methodology & Assumptions Actuary to join our Business Development team. This is a unique opportunity to work at the heart of M&G's product innovation and strategic development, helping bring new ideas from concept through to implementation and valuation.

You’ll play a leading role in designing and enhancing the methodologies, assumptions and regulatory approaches that underpin our products and transactions. Working closely with teams across Finance, Pricing, Investments, Risk, and more, you’ll help ensure that innovative customer solutions can be robustly valued, managed and reported.

This is a role suited to someone who enjoys applying deep technical expertise to new and evolving challenges while influencing outcomes across the business.

Key Responsibilities

• Lead the development of valuation methodologies and actuarial approaches for new products, transactions and strategic initiatives, taking ideas from concept through to implementation.
• Design and enhance actuarial assumptions and methodologies, ensuring they remain technically robust, commercially appropriate and aligned with regulatory requirements.
• Partner with stakeholders across Investments, Finance, Risk, Product Development and Actuarial to deliver innovative customer propositions and strategic business solutions.
• Support the integration of new products, assets and transactions into ongoing valuation, capital and financial reporting processes.
• Provide expert technical insight on complex actuarial, regulatory and balance sheet matters.
• Drive continuous improvement by challenging existing methodologies, identifying opportunities for simplification, automation and greater efficiency.
• Contribute to the development of regulatory and accounting interpretations relating to Solvency II, IFRS and emerging industry developments.

Key Knowledge, Skills & Experience

• Nearly qualified, newly qualified or qualified actuary.
• Strong analytical and problem‑solving skills, with the ability to develop technically robust yet pragmatic solutions.
• Experience in actuarial methodology development, assumption setting and/or valuation work.
• Strong understanding of Solvency II and IFRS reporting frameworks.
• Ability to communicate complex technical concepts clearly to both technical and non-technical stakeholders.
• A collaborative approach, with experience working across multiple teams and disciplines.
• Commercial awareness and an interest in understanding how actuarial decisions influence business outcomes.

Desirable Experience

• Experience with annuity products, BPA transactions or wider life and pensions business.
• Knowledge of asset‑liability management and regulatory frameworks, including the Solvency II Matching Adjustment.
• Experience in capital modelling, capital reporting or balance sheet management.
• Exposure to new product development, reinsurance transactions or strategic business initiatives.
• Experience identifying and implementing process improvements, automation opportunities or methodological enhancements.

Why Join Us?

This is an opportunity to work on some of the most intellectually stimulating challenges and most innovative products in the life insurance market. You’ll help shape how business opportunities are translated into actuarial methodologies that directly influence financial and regulatory outcomes.

You’ll join a collaborative team that values curiosity, innovation and technical excellence, with the chance to make a visible impact on the future direction of the business while continuing to develop your expertise across a broad range of actuarial disciplines.

What we offer:

We’re dedicated to supporting your wellbeing and helping you thrive, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, and financially plan for the future. Our UK benefits include :

• A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions).

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