Model Validation Senior Actuary / Senior Analyst – M&G plc. job at London Full Time NEW

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

Context for the role:

The M&G plc Risk and Compliance function:”

• Assists the Board to formulate, implement and monitor adherence to the Risk Appetite and Limit framework, risk management plans, risk policies, risk reporting and risk identification processes. P rovides 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. The M&G Life team is responsible for oversight of risks 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 Model and other critical Models and User Developed Applications within the business , including pricing models and operational risk modelling . The team also has responsibility of the company Solvency UK compliance framework, ensuring the business adheres to the relevant regulatory requirements including any new requirements issued by the PRA .

• The Manager role will provide the opportunity to validate the Internal Model , interpret and support the business in understanding and adhering to the various regulations and produce and present 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 model s , assumptions, and methodologies to identify potential risks or weaknesses . Following completion of the validation, you will be 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 .

• W ork collaboratively with colleagues and key stakeholders to build out coverage of our model development risks and support any developments to the risk framework .

• 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, customers outcomes and a reduction in M&G plc’s operational risk.

• To support the reporting of the quarterly model change log to the PRA and results of the Solvency UK Compliance exercise to senior committees and Boards .

Knowledge statement s :

• Exp erience in the validation of models and tools

• Good knowledge of Financial services regulations and internal model design

• Working knowledge of industry best practice and good network / links with individuals and external bodies

• Good knowledge of UK financial s ervices regulatory environment

• To have strong knowledge and recent exposure to model development risk s and risk framework development

• Awareness of external developments and ability to identify , recommend and implement i mprovements to processes and policies in line with these d etailed statistical knowledge

Experience statement s :

(Essential)

• Experience in actuarial and statistical modelling

• Experience in model risk and governance

• Experience of providing constructive challenge and oversight of technical matters

• Experience in model development risk s and risk framework development

(Desirable)

• Experience in risk guidance and compliance environments

• Experience of liaising, influencing and negotiating effectively with internal parties

• Experience of Financial Services regulatory environment and Prudential regulations

• Experience of managing p roject s

Personal attribute/skills:

(Essential)

• Able to work collaboratively across the immediate team and broader Risk and Compliance function while also being able to work independently

• Good analytical and organisational skills .

• Good investigative skills and ability to constructively challenge

• Able to look beyond face value, ask the right questions and make links and connections across the organisation.

• A strong ability to learn quickly and explain issue s to others

(Desirable)

• Relationship building skills

• Strong oral and written communication skills.

• High level of diplomacy, discretion and problem solving ability.

• Experience in Python, PowerBI or R

Qualifications:

• Professional qualification, e.g. CFA or Qualified Actuary , desirable

Experience Level – Manager/Expert
Recruiter – Helen Simons

What we offer:

At M&G, we’re committed to helping you thrive and supporting your wellbeing, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, while planning confidently fo