Senior Actuary; -Profits

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.

The With-Profits Actuary (WPA) team, which sits within the Life Finance team, serves the following purposes:

• The team 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
• Reviewing and challenging of initiatives and changes proposed by the business to the extent they impact the with-profits funds and policyholders
• Enabling 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

In order to discharge its responsibilities in an efficient manner, the WPA team operates as a series of networked teams, clustering people in a fluid fashion to address specific pieces of work, although the main priorities for each person will be specified in their objectives.

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.

They will be expected to review and draft papers for committees and senior management, and to attend meetings or committees to represent to the WPA team and Finance.

• 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
• Abilit…