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About the Role

The Pricing Associate role within Corporate Pension Solutions (CPS) is crucial for designing and delivering bulk purchase annuities and alternative de-risking products for Defined Benefit pension schemes. This position offers exposure to a wide variety of projects and is key to achieving ambitious new business targets.

Responsibilities

• Produce end-to-end pricing for BPAs and other de-risking solutions.
• Integrate commercial, investment, longevity, reinsurance, balance sheet management, and structuring workstreams into pricing projects with colleagues and outsourcing partners.
• Support team management and senior stakeholders with technical analysis, strategy, business planning, and ad hoc queries.
• Assist distribution and transaction management colleagues with client deliverables and relationship management.
• Develop new and enhanced modeling capabilities, including tech solutions for the CPS pricing infrastructure.
• Support pricing development of novel bulk annuity transaction structures, reinsurance solutions, and new product lines.
• Work on pricing projects in partnership with Treasury and Investment Office, Finance Strategy & Finance Reporting teams.

Requirements

• Commercially minded Student Actuary with exceptional technical skills.
• Experience in bulk annuity pricing, funded reinsurance, longevity reinsurance, life insurance balance sheet management, or modeling UK DB Pensions.
• Understanding of Solvency II/UK for life insurance, particularly balance sheet construction, liability discounting, asset strategy & ALM is valuable.
• Ambitious and self-motivated with the ability to work independently and prioritize workload to strict deadlines.
• Strong communication and presentation skills.

Skills

• Technical analysis
• Strategy
• Business planning
• Client deliverables
• Relationship management
• Modeling capability development
• Pricing development
• Communication
• Presentation

Location

• London
• Edinburgh

Work Type

• Flexible working arrangements

Experience Level

• Colleague

Education Level

• Student Actuary

Benefits

• Pension scheme of up to 18% (13% employer, 5% employee contributions)
• Access to 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, combining asset management and insurance expertise.
• The Corporate Pension Solutions (CPS) division within M&G Life designs and delivers bulk purchase annuities and alternative de-risking products for Defined Benefit pension schemes.
• M&G fosters a culture of telling it like it is, owning it now, and moving it forward together with care and integrity.
• M&G is dedicated to supporting employee wellbeing and helping them thrive, both at work and beyond.

Equal Opportunity

• M&G strives to have a diverse workforce and an inclusive culture, underpinned by policies and employee-led networks.
• 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.
• Welcome applications from candidates with disabilities and long-term health conditions.
• Committed to providing an inclusive recruitment process.
• All candidates have the opportunity to request reasonable adjustments when applying.
• Contact careers@mandg.com for additional support at any stage.