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About the Role

Corporate Pension Solutions (CPS) is seeking a Pricing Director to lead end-to-end pricing for bulk purchase annuities and other de-risking solutions. This role offers exposure to a wide variety of projects and is crucial for meeting ambitious new business targets.

Responsibilities

• Leading end-to-end pricing for BPAs and other de-risking solutions
• Integrating 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
• Supporting distribution and transaction management with client deliverables and relationship management
• Leading the development of new and enhanced modelling capability, including tech solutions
• Managing commercial outsourcing arrangements
• Leading the ongoing pricing development of novel bulk annuity transaction structures, reinsurance solutions, and new product lines
• Leading pricing projects in partnership with Treasury and Investment Office, Finance Strategy & Finance Reporting teams
• Providing study mentoring and development support to junior team members
• Opportunity for line management

Requirements

• Commercially minded Actuary with exceptional technical skills
• Experience of bulk annuity pricing, funded reinsurance, longevity reinsurance, or life insurance balance sheet management required
• Understanding of UK DB pensions valuable
• Understanding of Solvency II/UK for life insurance, in particular balance sheet construction, liability discounting, asset strategy & ALM valuable
• Experience of developing/structuring and pricing institutional insurance products valuable
• Understanding of non-standard capital and reinsurance structures valuable
• Ambitious and self-motivated with ability to work on own initiative/prioritize workload to strict deadlines

Skills

• Actuarial
• Pricing
• Bulk annuity pricing
• Funded reinsurance
• Longevity reinsurance
• Life insurance balance sheet management
• UK DB pensions
• Solvency II/UK for life insurance
• Balance sheet construction
• Liability discounting
• Asset strategy
• ALM
• Institutional insurance product development/structuring/pricing
• Non-standard capital and reinsurance structures
• Modelling capability development
• Commercial outsourcing management

Location

• London
• Edinburgh

Work Type

• Flexible working arrangements

Experience Level

• Manager / Expert

Education Level

• Actuary

Benefits

• Pension scheme of up to 18% (13% employer, 5% employee)
• Share Save and Share Incentive Plan
• Financial wellbeing and support services
• 38 days annual leave (including bank holidays)
• Opportunity to purchase up to five extra days of leave
• Time Off When You Need It policy
• Market-leading Inspiring Families policy with comprehensive support and paid parental leave (maternity, adoption, surrogacy, paternity)
• Private Healthcare
• Critical Illness cover
• Life Assurance
• Additional family options for Health & Protection cover

About the Company

• M&G has a heritage dating back more than 175 years with a long history of innovation in savings and investments.
• Combines asset management and insurance expertise to offer a wide range of solutions.
• Operates through two distinct segments: Asset Management and Life.
• Focuses on giving everyone real confidence to put their money to work.
• Values telling it like it is, owning it now, and moving it forward together with care and integrity.
• Creating an exceptional place to work for exceptional talent.

Equal Opportunity

• 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.
• We welcome applications from candidates with disabilities and long-term health conditions.
• 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: careers@mandg.com