Methodology & Assumptions Actuary

M&G; Stirling; On-site; GBP 65,000 - 95,000; Full time

Benefits offered by this job

Pension 18%

Share Save Plan

38 days annual leave

Private Healthcare

Family benefits

Job summary

M&G is seeking a Methodology & Assumptions Actuary to join our Business Development team in the UK. You will help design and implement valuation methodologies, regulatory approaches and assumptions underpinning products and transactions.

You will work with Finance, Pricing, Investments, Risk and Product Development, applying deep technical expertise to evolving challenges and helping shape commercial outcomes.

Qualifications

• Nearly qualified, newly qualified or qualified actuary.
• Strong analytical and problem-solving skills.
• Ability to develop robust yet pragmatic solutions.

Responsibilities

• Lead the development of valuation methodologies and actuarial approaches for new products, transactions and strategic initiatives.
• Design and enhance actuarial assumptions and methodologies in line with regulatory requirements.
• Partner with Investments, Finance, Risk, Product Development and Actuarial teams to deliver innovative propositions.
• Support integration of new products into ongoing valuation, capital and financial reporting.
• Provide expert technical insight on actuarial, regulatory, and balance sheet matters.
• Drive continuous improvement by simplifying and automating methodologies.
• Contribute to regulatory and accounting interpretations relating to Solvency II, IFRS and industry developments.

Skills

Actuarial methodology development

Assumption setting

Valuation work

Solvency II knowledge

IFRS reporting knowledge

Stakeholder communication

Collaborative across teams

Commercial awareness

Job description

Methodology & Assumptions Actuary

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).
• Access to our Share Save and Share Incentive Plan, alongside financial wellbeing and support services to help give you real confidence to put your money to work.
• Enjoy 38 days annual leave (including bank holidays), with the opportunity to purchase up to five extra days. Our Time Off When You Need It policy gives you the flexibility - to balance work and personal commitments.
• Our market-leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - because supporting families is an important part of our inclusive culture.
• Health & Protection cover includes Private Healthcare, Critical Illness cover and Life Assurance for you, with additional family options - for peace of mind.

To explore more about life at M&G and our full benefits offering, visit Life at M&G

At M&G we strive to have a diverse workforce and an inclusive culture, underpinned by our policies and employee-led networks that offer networking, support and development opportunities for the diverse communities our colleagues represent. We welcome applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.

M&G is proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme, and we welcome applications from candidates with disabilities and long-term health conditions. If you would like to participate in the initiative, you will have the opportunity to indicate this on your application.

We are committed to providing an inclusive recruitment process. All candidates have the opportunity to request reasonable adjustments when applying. If you need any additional support at any stage, please contact us at: [e-mail]