Pricing Actuary

4 days ago


Edinburgh, Edinburgh, United Kingdom M&G plc. Full time
About M&G

M&G is an international savings and investments business with a rich history spanning over 170 years. Our purpose is to give everyone real confidence to put their money to work. We offer a range of financial products and services through Asset Management, Life, and Wealth.

Our 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.

Pricing Actuary Role

We have an excellent opportunity for a qualified actuary to join the Individual Life and Pensions Pricing Team in Scotland or Edinburgh. This role will support the delivery of key metrics used in the ongoing pricing of existing propositions managed by Individual Life and Pensions. You will also support M&G Life with the development and pricing of new proposition developments.

This role requires you to support BAU pricing activities, such as active pricing of PruFund Capital Guarantees, PruFund Cost of Smoothing reviews, Value for Money analysis, new business capital monitoring, and compliance with the Minimum Pricing Frameworks.

Key Responsibilities
  • To support key BAU Pricing activities, such as Active Pricing of PruFund Capital Guarantees, PruFund Cost of Smoothing reviews, Value for Money analysis, new business capital monitoring, and compliance with the Minimum Pricing Frameworks.
  • To support relevant pricing reviews and updates to our existing suite of new business products Retirement Account, ISA, Onshore bond, and TIP.
  • Support pricing workstreams for key M&G Life proposition developments, such as the development of a new Fixed Term Annuity and the launch of PruFund on third-party platforms.
  • Model development and maintenance of several Pricing MUDAs.
  • Clear communication of the pricing results with key stakeholders, including Proposition, With-Profits Actuary Team, Chief Actuary Team, and Risk.
  • To maintain effective working relationships with key stakeholders in other areas of the business (e.g., teams in Proposition, Finance, and Risk).
Experience, Skills, and Knowledge
  • Be a qualified actuary or nearly qualified actuary.
  • Have experience of Solvency II.
  • Have knowledge of PruFund.
  • Have model development experience in Excel and VBA.
  • Be highly analytical and a skilled problem solver, with a strong commercial mindset, and the ability to distil complex ideas or problems into simple, effective plans and solutions.
  • Have an ability to communicate effectively and influence effectively with productive, successful relationships with demanding senior stakeholders.
Benefits and Location

The estimated salary for this role is around £60,000 - £80,000 per annum, depending on experience. The location is Stirling or Edinburgh, with flexibility to work from home. We offer a diverse workforce and an inclusive culture at M&G plc, underpinned by our policies and employee-led networks who provide networking opportunities, advice, and support for the diverse communities our colleagues represent. We welcome applications from candidates with disabilities, long-term health conditions, physical, mental health, or neuro-divergent conditions. If you need assistance or an alternative means of applying for a role due to a disability or additional need, please contact us.



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