Part/Newly Qualified Actuary

International Association of Insurance Professionals (IAIP); Stirling; Hybrid; GBP 60,000 - 90,000; Full time

Benefits offered by this job

Pension up to 18%

Share Save & SIP

38 days leave

Time Off When You Need It

Inspiring Families policy

Private Healthcare

Critical Illness cover

Life Assurance

Job summary

M&G is seeking a qualified or nearly qualified actuary to join the Liabilities Valuation team in the UK. The role focuses on the valuation of life and pensions annuities under UK GAAP, IFRS 17 and Solvency II, with opportunities to develop understanding of non-profit annuity products and present results to key stakeholders.

You will work with Finance and Risk colleagues to ensure timely regulatory reporting, document yield calculations, and support delivery of key deliverables, while benefiting

Qualifications

• Excellent technical actuarial knowledge and attention to detail.
• Ability to solve problems and provide practical solutions to complex issues.
• Strong commercial and collaboration skills.

Responsibilities

• Provide quality service to customers and stakeholders within established frameworks.
• Deliver clearly defined outputs with discretion on how to achieve them.
• Produce and explain changes in matching adjustment assumptions and liabilities to key stakeholders.
• Support the Manager of the annuities liability valuation team on key deliverables and strategic projects.
• Provide technical expertise to design solutions for change projects within UK Finance Reporting.

Skills

Actuarial knowledge

Problem solving

Commercial aptitude

Communication

Education

Actuary qualified or nearly qualified

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.

The Role:

There is an exciting opportunity to support work on M&G's Liabilities Valuation team. This role sits within the Actuarial Liability Valuation team within the wider M&G Actuarial Model and Valuations team. The Actuarial Liability Valuation Team focuses on the valuation of M&G Life and Pensions business which includes annuities, with-profits and unit-linked products. This role requires a qualified/nearly qualified actuary who has practical experience of UKGAAP, IFRS 17 and Solvency II financial reporting mainly for annuities business and will include the opportunity to :

• Develop an understanding of the M&G's non-profit annuity business, key features of products and liabilities, sensitivities to key risk drivers.
• Develop an understanding of the yield calculation under different metrics.
• Develop an expertise in documenting, explaining and presenting results to key stakeholders.
• Work with colleagues across other areas within Finance and Risk to support delivery of financial reporting in line with regulatory deadlines.

Key Responsibilities:

• Accountable for providing a quality service or products to customers and stakeholders, using skills/experience built through significant practical experience.
• Works within established frameworks and procedures, with the freedom to interpret them to solve a range of problems.
• Delivers outputs that are clearly defined, using discretion over how to achieve them.
• Makes suggestions for improvements to the work of the team, based on previous experience and knowledge of similar situations.
• To produce and be accountable for understanding and explaining the change in matching adjustment assumption and liabilities to key stakeholders with clear controls.
• To support the Manager of annuities liability valuation team on delivery of all key deliverables, supporting ongoing development and/or embedding of strategic solutions related to new propositions.
• To provide technical expertise to design technical solutions as part of change projects within M&G UK Finance Reporting where required.

You will have:

• Excellent technical actuarial knowledge, with attention to detail.
• Motivated and willing to take responsibility and ownership of the work assigned.
• Demonstrable experience of problem solving and providing practical solutions to complex problems.
• Commercial aptitude and the ability to consider the impact of decisions.
• Strong commercial and collaboration skills.
• Ability to express own viewpoint and to communicate clearly on complex actuarial issues.

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]