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About the Role

The Senior Actuary (With-Profits) will act as a key support to the Head of With-Profits Management, providing expert technical advice on issues arising within the context of M&G's With-Profits business, and the ongoing strategic management of the With-Profits funds. The role holder will have a good understanding of with-profits funds and related processes, and an appreciation of how decisions affect policyholder outcomes and the implications for treating policyholders fairly.

Responsibilities

Provides expert with-profits knowledge to inform key business decisions, delivered through a comprehensive understanding of the investment strategy, bonus policy, capital, liquidity, expense base and drivers and profitability of the with-profits business
Reviews and challenges initiatives and changes proposed by the business to the extent they impact the with-profits funds and policyholders
Enables the statutory role of the With-Profits Actuary to be fulfilled in connection to the With-Profits business, to help safeguard policyholders’ interest and ensuring they are treated fairly
Reviews and drafts papers for committees and senior management
Attends meetings or committees to represent the WPA team and Finance

Requirements

Experience of using understanding of the business linked with finance knowledge to support the business, making recommendations and helping to originate creative solutions
Experience of With-Profits fund management including investment strategy, capital and liquidity management, and an appreciation of how they affect policyholder outcomes and the implications for treating policyholders fairly
Experience of providing guidance and advice to the business on actuarial issues
Experience of simply communicating complex financial information to stakeholders
Experience of writing Board level reports and papers
Experience of coordinating activities across multiple Finance teams to ensure the needs of business stakeholders are met
Experience of advising on the commercial implications of decisions
Experience of reviewing, analysing and effectively challenging results
Experience of approaching complex issues from different angles, explaining the cause and effect of situations
Experience of considering different future scenarios, opportunities and risks to generate creative solutions and operational plans that align with M&G's strategy
Knowledge of financial services regulatory and legislative frameworks
Knowledge of actuarial professional standards and codes
Working knowledge of With-Profits business and industry best practice
Working knowledge, expertise and experience in financial reporting and product pricing
Awareness of Group and external developments and ability to identify, recommend and implement improvements to processes and policies in line with these
Knowledge of life and pensions products, markets and competitors
Adept at building strong relationships
Ability to show sound, reasoned, judgement
Ability to anticipate key stakeholders perspectives and appreciate alternative viewpoints when challenged
Ability to assess and react quickly and decisively to problems once identified and to take tough decisions based on well thought through principles where required.
Ability to challenge decisions, setting out clearly the rationale for the challenge and clearly communicating own point of view
Ability to communicate complex issues to peers and other senior stakeholders in a simple and succinct manner
Ability to generate ideas and options to address complex issues

Skills

With-Profits fund management
Investment strategy
Capital management
Liquidity management
Financial reporting
Product pricing
Relationship building
Judgement
Stakeholder management
Problem-solving
Decision-making
Challenging decisions
Complex communication
Idea generation

Location

Work Type

Flexible working arrangements

Experience Level

Senior

Education Level

Qualified 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
Inspiring Families policy (comprehensive support and paid parental leave)
Private Healthcare
Critical Illness cover
Life Assurance
Additional family options for Health & Protection cover

About the Company

M&G's purpose is to give everyone real confidence to put their money to work.
Heritage dating back more than 175 years.
Long history of innovation in savings and investments.
Combines asset management and insurance expertise.
Offers a wide range of solutions through two distinct operating segments: Asset Management and Life.
Creating an exceptional place to work for exceptional talent.
Strives to have a diverse workforce and an inclusive culture.
Offers networking, support and development opportunities for diverse communities.
Welcomes applications from people of all backgrounds.
Proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme.
Committed to providing an inclusive recruitment process.

Equal Opportunity

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.
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.
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