senior actuarial manager

4 weeks ago

Stirling, United Kingdom M&G plc. Full time
At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns.

Through our behaviours of 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 also offer work place accommodations to ensure you have what you need to effectively deliver in your role.

Context for the role:

The Chief Actuary is a statutory role that focuses on ensuring the financial wellbeing of the M&G's insurance business. The Chief Actuary is responsible for the Actuarial Function, as defined under Solvency II.
An exciting opportunity has arisen for a Senior Actuarial Manager to join the Chief Actuary Team.
You will lead a team that assists the Chief Actuary in carrying out their statutory duties and the duties of the Actuarial Function, with a focus on the shareholder backed business of M&G.
The Senior Actuarial Manager is expected to be proactive and a self-starter, proposing solutions to complex problems and able to move easily across multiple stakeholders within finance, risk and other business areas as appropriate. The individual must be confident in presenting to Executive level and Board level committees with the appropriate gravitas, whilst also being able to effectively manage the team to meet challenging timelines and multiple priorities.

Purpose statements:
  • To work collaboratively with colleagues and take personal accountability to maintain and enhance controls you are responsible for to support improvement of the overall control environment, customer outcomes and a reduction in M&G's operational risk profile.
  • To lead the team providing review and challenge of activity relating to shareholder-backed business on behalf of the Chief Actuary.
  • To provide the appropriate support to the Chief Actuary so that they can discharge their statutory and professional responsibilities, including:
    • monitoring the company's solvency and financial strength (including reviewing the company's Solvency II valuations), assessing the adequacy of new business pricing, underwriting and reinsurance arrangements.
    • reviewing other management activities for their impact on solvency and financial strength.
    • providing advice to management, relevant Boards and Committees
    • supporting the Risk Function and contributing to the implementation of the Internal Model
    • ensuring compliance with statutory and professional standards.
    • working with the business to ensure the right outcomes for customers.

Required Knowledge:
  • Expert knowledge of Solvency II regulations
  • Detailed knowledge of M&G Prudential's systems, strategy and standards.
  • Detailed knowledge of actuarial profession's standards and codes of conduct

Required Experience:
  • Significant experience in the financial reporting and actuarial modelling of life assurance liabilities
  • Experience in leading actuarial programs where new methodologies, frameworks and concepts are created, deployed and operationalised
  • Significant experience as a trusted adviser, utilising subject matter expertise to interpret complex recommendations, considering cause and effect, drawing conclusions and recommending solutions
  • Experience in coaching and guiding others in using advanced actuarial principles and methodologies to solve complex or unique problems and in ambiguous or unique situations
  • Experience in constructively challenging and influencing a range of peers and stakeholders, using multiple strategies to gain stakeholder support for change

Personal attributes/skills:
  • 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 work across technical and non-technical business areas
  • 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 influence and negotiate at all levels of the organisation, including internal and external
  • Ability to challenge decisions, setting out clearly the rationale for the challenge and clearly communicating own point of view
  • Be confident and show gravitas
  • Ability to communicate vision to gain support and motivate others to build a sense of shared purpose
  • 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 and drive these to resolution
  • Ability to manage multiple demands from different senior stakeholders both internal and external, operating in a fast moving and sometimes ambiguous environment
  • Driven to embed best practice

Qualifications:
  • Fellow of the Institute and Faculty of Actuaries (or equivalent actuarial qualification)

Work Level: Intergration Leader
Close Date: 18th October 2024

We have a diverse workforce and an inclusive culture at M&G plc, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality, disability or long term condition, we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.

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