Risk Modelling Manager

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.

The Role:

This role requires a Qualified Actuary, or someone with quantitative practical work experience at this level. The role will initially involve supporting the development of credit risk modelling for non-standard credit assets and, in addition, involve supporting the wider development work and business-as-usual responsibilities undertaken by the Risk Modelling team and wider FROISS Actuarial M&A and Support area, where required.

The role holder will report to the Head of Risk Modelling. The wider Risk Modelling team is responsible for:

• The annual calibration of market and operational risks, as well as the dependency structure between risks, which includes collecting data, refreshing analyses, understanding changes, rationalising judgements and presentation to senior stakeholders.
• Undertake ongoing development to the methodology and tools which underpin the calibration. This involves research and implementation of enhancements, with associated testing and communication. The implementation of new risk models requires interaction with Finance Reporting and the IT developers who own the underlying engine, as well as the users who run the tools.
• The production of monthly and ad-hoc market data packs, with responsibility for delivering accurate and timely reports to end users across M&G.
• The annual refresh of Group-wide Operating Standards for the production of Solvency II regulatory capital, including ensuring these keep up to date with change in the regulatory environment.

Key Work Level Accountabilities:

Manager or Expert:

• For people managers, accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders.
• For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise.
• Applies judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for customers, cost and risk.
• Manages conflicts that may impact delivery.
• Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture.
• Identifies and anticipates need for changes to continuously improve quality and efficiency of output.
• Manages resources and risks using expert judgment, know-how and experience.

Key Responsibilities for this role:

• 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's operational risk.
• To lead the production and delivery of the tasks for which the role holder is responsible.
• Have responsibility for ensuring that team processes run smoothly, co-ordinating input from others.
• To ensure appropriate governance.

Key Knowledge, Skills & Experience:

• Qualified Actuary, or quantitative specialist with similar work experience.
• Strong technical ability in order to provide oversight of work.
• Knowledge of life insurance products and actuarial modelling techniques.
• Understanding of financial markets and modelling methods applied to them.
• Excellent understanding of statistics and statistical methods.
• Experience in programming languages such as MATLAB and VBA.
• Proven experience in risk model development and calibration.
• The ability to implement novel technical solutions that are pragmatic so they fit within business needs and produce analysis to support solutions.
• Experience in managing a team, providing oversight and guidance.
• A track record of successful delivery in pressured environments with the ability to cope with competing demands.

Recruiter: Matt Campbell
Grade Level: Manager / Expert
Close Date: 27th October 2022

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