3RK810 - Model Validation, Senior Analyst

At M&G our vision is: to become the best loved and most successful savings and investment business and we're looking for people who are excited about joining us on our journey. We're digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we're looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.

We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationality, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home 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.

What you can expect from us:
We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:

• Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
• Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
• Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
• Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

How do we support our employees:
All M&G plc employees will be supported in the workplace through our M&G Employee Assistance Programme (EAP). If you need counselling, confidential financial or legal advice. The service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support.

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 FICM team is responsible for oversight of Financial, Insurance, Counterparty and Market Risks.
• The Model Validation team support the business in managing model risk across the group through the independent validation of critical Models and User Developed Applications within the business and the Solvency II Internal Model.
• The team also has responsibility of the company MUDA Policy and Solvency II compliance framework, ensuring the business adheres to the relevant requirements including any new requirements issued by the PRA.
• The Senior Analyst role will provide the opportunity to validate different models across the business, interpret and support the business in understanding and adhering to the various regulations and produce & present papers for senior committees.

Key Responsibilities:

• To perform validation on Models and User Developed Applications across the business and review whether there are sufficient processes in place around external actuarial models given their use within the company. Results will be reported to Chief Risk Officers across the Group and other senior management.
• 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 and maintain overall internal model validation scope and plan including assessing the appropriateness of Internal Model assumptions, methodology and results.

Knowledge statements :

• Good knowledge of Model Risk management
• Working knowledge of industry best practice and good network / links with individuals and external bodies
• Good knowledge of UK financial services regulatory environment
• Awareness of external developments and ability to identify, recommend and implement improvements to processes and policies in line with these detailed statistical knowledge
• (Desirable) Knowledge of Solvency II regulations and internal model design

Experience statements:
(Essential)

• Experience in the management of model risk
• Experience in actuarial and statistical modelling including VBA
• Experience of Financial Services regulatory environment and Prudential regulations
• Experience of providing constructive challenge and oversight of technical matters

(Desirable)

• Experience in risk guidance and compliance environments
• Experience of liaising, influencing and negotiating effectively with internal parties
• Experience in the use of MetricStream and ClusterSeven

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
• A strong ability to learn quickly and explain issues to others

(Desirable)

• Relationship building skills
• Able to look beyond face value, ask the right questions and make links and connections across the organisation.
• Strong oral and written communication skills.
• High level of diplomacy, discretion and problem solving ability.

Qualifications:

• Professional qualification desirable

We live by four behaviours at M&G and we ask all our employees to:

• Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
• Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
• Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
• Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things