Longevity Actuary

4 days ago

Stirling, County 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.

The role

The Longevity area sits within the Methodology & Assumptions team and is responsible for development of the mortality bases for retirement products and monitoring of longevity risk. To achieve this the team is required to develop cutting edge models of and approaches to longevity risk. This role is aimed at the experienced colleague level for an individual progressing towards actuarial fellowship. This role will act as necessary support to the team by carrying out longevity and mortality research, reporting to a Senior Longevity Actuary.

Primary Responsibilities
  • Support the team in the production of longevity and demographic assumptions, relating to both best estimate liabilities and capital requirements
  • Support business growth of the Life business in relation to the provision of pricing assumptions for BPA transactions
  • Support the team in providing expert insight into emerging longevity trends
  • To carry out and support longevity analysis, including undertaking the necessary technical investigations and research
  • Processes to be carried out with appropriate controls applied to minimise risks

Additional Responsibilities
  • Contribute to regular research on relevant longevity topics and present findings to the team. This will include areas such as medical developments and innovations relevant to the M&G annuitant population and targeted new business profiles.
  • Demonstrate a positive risk and control culture through the active identification, assessment, monitoring and management of risks and controls
  • Identifies and anticipates need for changes to continuously improve quality and efficiency of output
  • Manages risks using expert judgment, know-how and experience
  • Accountable for the technical accuracy of outputs and timely delivery of work
  • Develop knowledge, skills and experience by working alongside experienced colleagues and participating in training sessions across the team.
  • Communicate effectively with stakeholders across Finance & Life, both written and oral
  • Manages conflicts that may impact delivery
  • Challenges the status quo and continually seeks opportunities for improvement

Knowledge, Skills & Experience (Essential)
  • Knowledge and understanding of longevity trends
  • Cognisant of current research impacting longevity risk
  • Knowledge of actuarial professional standards and codes
  • Knowledge of life and pensions products, markets and competitors with a focus on the Bulk Purchase Annuity transactions and supporting reinsurance arrangements
  • Knowledge of financial services regulatory and legislative frameworks
  • Ability to analyse data and interpret the output to understand mortality trends in portfolio data
  • Experience of taking complex and ambiguous problems and quickly generating practical solutions
  • Experience of communicating complex problems with a range of stakeholders, both written and oral
  • Proficient in the use of Microsoft tools including Excel and SQL, or other relevant packages

Knowledge, Skills & Experience (Desirable)
  • Experience in the use and enhancement of longevity models using statistical and data science techniques
  • Performing experience analysis and data manipulation, including the utilisation of machine learning techniques, in relation to the monitoring mortality experience and analysing trends
  • Able to take responsibility and ownership of work
  • Ability to identify opportunities to improve own performance
  • Experience of developing and improving processes
  • Able to manage multiple pieces of work and plan time effectively and prioritise to ensure on time delivery
  • Ability to express own viewpoint and contribute effectively to team discussions on technical longevity issues
  • Ability to produce high quality technical work whilst operating within a well-controlled environment
  • A keen learner who can quickly understand how to use new systems and processes

Educational Qualification
  • Graduate in Actuarial Science or any other relevant degree
  • Qualified or working towards actuarial fellowship or other relevant qualification (should have cleared 8/9 actuarial papers)
  • Keeps up to date with Continued Professional Development requirements

Work Level: Experienced Colleague
Close Date: 9th 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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