Pricing Director

M&G; City of Westminster; On-site; GBP 80,000 - 100,000; Full time

Job summary

A financial services company in the City of Westminster is seeking an experienced Pricing Director to lead end-to-end pricing for bulk purchase annuities and de-risking solutions. The ideal candidate will have exceptional technical skills and experience in bulk annuity pricing or life insurance balance sheet management. This role offers the opportunity to work collaboratively with various teams and mentor junior members in an ambitious environment.

Benefits

Flexible working arrangements

Workplace accommodations

Qualifications

• Experience in bulk annuity pricing or life insurance balance sheet management.
• Understanding of Solvency II/UK life insurance regulations.
• Ability to work independently and prioritize effectively.

Responsibilities

• Leading end-to-end pricing for bulk purchase annuities.
• Collaborating with business partners on pricing projects.
• Supporting senior stakeholders with technical analysis.
• Developing new modelling capabilities for pricing infrastructure.
• Mentoring junior team members.

Skills

Commercially minded actuary

Exceptional technical skills

Experience in bulk annuity pricing

Understanding of UK DB pensions

Ambitious and self-motivated

Job description

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.

We are creating an exceptional place to work for exceptional talent, guided by our behaviours of telling it like it is, owning it now, and moving it forward together with care and integrity. We consider flexible working arrangements for our roles and offer workplace accommodations to support your effectiveness.

Pricing Director, CRS

CRS (Corporate Risk Solutions) is a division within M&G Life, responsible for designing and delivering bulk purchase annuities and alternative de-risking products for Defined Benefit pension schemes. Due to ongoing success and a strong opportunity set, we are expanding our team and seeking exceptional individuals to help us achieve our ambitious new business targets.

Key Responsibilities

• Leading end-to-end pricing for BPAs and other de-risking solutions.
• Collaborating with colleagues across the business and outsourcing partners to integrate commercial, investment, longevity, reinsurance, balance sheet management, and structuring workstreams into pricing projects.
• Supporting senior stakeholders with technical analysis, strategy, business planning, and ad hoc queries.
• Assisting distribution and transaction management teams with high-quality client deliverables and relationship management.
• Developing new and enhanced modelling capabilities, including technological solutions across CRS pricing infrastructure.
• Managing commercial outsourcing arrangements.
• Leading the ongoing development of pricing for innovative bulk annuity transaction structures, reinsurance solutions, and new product lines.
• Partnering with Treasury, Investment Office, Finance Strategy, and Finance Reporting teams on pricing projects.
• Mentoring junior team members and supporting their development.

There is an opportunity, though not a requirement, for line management.

Key Knowledge, Skills & Experience

• Commercially minded actuary with exceptional technical skills.
• Experience in bulk annuity pricing, funded reinsurance, longevity reinsurance, or life insurance balance sheet management.
• Understanding of UK DB pensions is valuable.
• Knowledge of Solvency II/UK life insurance, particularly balance sheet construction, liability discounting, asset strategy, and ALM.
• Experience in developing/structuring and pricing institutional insurance products is valuable.
• Understanding of non-standard capital and reinsurance structures is valuable.
• Ambitious, self-motivated, with the ability to work independently and prioritize effectively.