Model Validation Senior Actuary

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.

Context for the role:

The M&G plc Risk and Compliance function:

• Assists the Board to formulate, implement andmonitoradherence to the Risk Appetite and Limit framework, risk management plans, risk policies, riskreportingand risk identification processes.
  
  Provides guidance, tools and technology and reviews and assesses the risk taking activities of, the first line of defence, where appropriate challenging the actions being taken to manage and control risks; and,provides the Board with an aggregate view of M&G plc’s risk profile and supports them in identifying and assessing key and emerging risks which threaten the achievement of M&G plc’s objectives.
  
  TheM&G Lifeteamis responsible foroversightofrisks within M&G Life.
• The Model Validation team support the business in managing model risk across the group through the independent validation of both the Solvency II Internal Modelandother critical Models and User Developed Applications within the business, including pricing models and operational risk modelling.
  
  The team also has responsibility of the company SolvencyUKcompliance framework, ensuring the business adheres to the relevant regulatory requirements including any new requirements issued by the PRA.
• The Manager role willprovidethe opportunity tovalidatethe Internal Model,interpret and support the business in understanding and adhering to the various regulations and produceandpresent papers for senior committees.

Key Responsibilities:

• Provide independent validation of a range of models used across M&G plc (e.g. capital, pricing, valuations) to provide assurance on the accuracy, reliability, and integrity of models used within an organization.
  
  This involves conducting independent reviews of models, assumptions, and methodologies toidentifypotential risks or weaknesses.
  
  Following completion of the validation, you willbe responsible for summarising the results of the validation and present these in a succinct manner to relevant committees and senior stakeholders as well as agree any actions with the model owners.
• Work collaboratively with colleague sand key stakeholderstobuild out coverage of ourmodel development risks and support any developments to therisk framework.
• To work collaboratively with colleagues and take personal accountability tomaintainand enhance controls youare responsible forto support improvement of the overall control environment, customers outcomes and a reduction in M&G plc’s operational risk.
• To support the reporting of the quarterly model change logto the PRA and results of the Solvency UK Compliance exercise tosenior committees and Boards.

Knowledge statements
** : **

• Experience in the validation of models and tools
• Goodknowledgeof Financialservicesregulations and internal model design
• Working knowledge of industry best practice and good network / links with individuals and external bodies
• Goodknowledgeof UK financial services regulatory environment
• To have strong knowledge and recent exposure tomodeldevelopmentrisksand risk framework…