Risk Modeller Analyst

At M&G our purpose is to help people manage and grow their savings and investments, responsibly. As a business, we are continuing to take steps towards a sustainable future, delivering better long-term solutions for our customers and clients and identifying new opportunities to make a positive impact for our environment and communities . To help us achieve our vision we're looking for exceptional people who live our values of care and integrity and who can inspire others; embrace change; deliver results and keep it simple.

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:

This role is open to part-qualified actuaries, candidates looking for an entry level actuarial position, or someone with quantitative practical work experience at this level. The role will include a mixture of technical and written work (development work and business-as-usual responsibilities). This is a permanent position that can be based in our Stirling office or Edinburgh office (which will have a blended approach between working from home and in the office) or be home-based in Scotland or England.

The role holder will report to a Risk Modelling Actuary or Manager. The wider Risk Modelling team is responsible for:

• The annual calibration of market, credit 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.
• The refresh of a number of matching adjustment policies and the performance of compliance and monitoring exercises required by these policies.
• Maintaining the methodology for valuing M&G's lifetime mortgage in base and stressed conditions.
• 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 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 Responsibilities for this role:

• 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, customer outcomes and a reduction in M&G's operational risk.
• Support the continued development and calibration of risk models and simulation engines within the Solvency II Internal Capital Model.

Key Knowledge, Skills & Experience:

• Part-qualified actuary, candidates looking for an entry level actuarial position or quantitative specialist with similar work experience.
• Basic knowledge of financial markets and modelling methods applied to them.
• Understanding of statistics and statistical methods.
• Knowledge and experience of Microsoft Office packages, e.g. Excel.
• Knowledge of Monte Carlo capital modelling would be beneficial.
• Some experience of the practical implementation of theoretical solutions, for example, in Excel/VBA, MATLAB, Python.
• Some experience of successful delivery in pressured environments with the ability to cope with competing demands.
• Some experience of developing working relationships with key stakeholders.
• Some experience of presenting findings and results, and building an understanding of audience-specific communication requirements.
• Some experience of capital modelling would be beneficial.

Recruiter: Matt Campbell
Work Level: Colleague
Closing Date: 3rd April 2023

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 or disability 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.