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- Tasks: Join our team to develop and price individual annuity products, ensuring competitive strategies.
- Company: M&G plc is a leading international savings and investments business with over 170 years of experience.
- Benefits: Enjoy flexible working arrangements and workplace accommodations tailored to your needs.
- Why this job: Be part of a dynamic team driving innovation in financial products while collaborating across diverse teams.
- Qualifications: A solid understanding of UK life insurance and annuities is essential; experience in related fields is a plus.
- Other info: We value diversity and inclusivity, welcoming applicants from all backgrounds and abilities.
The predicted salary is between 36000 - 60000 £ per year.
M&G plc Stirling, Scotland, United Kingdom
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M&G plc Stirling, Scotland, United Kingdom
22 hours ago Be among the first 25 applicants
Join to apply for the Pricing & Development Actuary, Individual Annuities role at M&G plc
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: Pricing & Development Actuary, Individual Annuities
Individual Life & Pensions is a division of M&G Life, responsible for the manufacture, sale and management of individual insurance products in the UK and internationally.
We have a strong ambition to increase our share of the Fixed Term Annuity market and expand into Lifetime Annuities. We are growing the Individual Annuities Pricing & Development Team to deliver this exciting goal.
The remit of the team is to establish and execute a competitive pricing strategy for our with-profits annuity propositions and ensure all technical elements associated with launching and maintenance of our products are appropriately designed and implemented. This includes, but is not limited to, establishing a valuation methodology for new business, assisting the build of a customer quotation platform, negotiating and setting up longevity reinsurance and developing an enhanced annuity underwriting process.
This role involves collaborating with a wide range of internal teams and external partners to ensure the successful development and management of individual annuity products.
Key Responsibilities For This Role
- Run the new business pricing process for our individual annuity products.
- Perform pricing assumption reviews through the production of robust experience and market analysis.
- Assist with the development and launch of new individual annuity products.
- Produce internal governance and approval papers (e.g. for pricing methodologies or product developments), influencing our stakeholders across the business.
- Coordinate the implementation and testing of calculations on IT systems.
- Develop new and enhanced modelling capability, including tech solutions across the Individual Annuity pricing infrastructure
- Develop and mentor junior team members.
Knowledge, Skills And Experience
- Understanding of UK life insurance products and concepts is essential, with both technical and commercial knowledge of life insurance and annuities.
- Knowledge of individual annuities pricing is preferred, but not essential; experience in related areas such as bulk purchase annuities and longevity modelling is also helpful.
- Knowledge of regulatory requirements and compliance standards in the insurance industry.
- Experience with data and trend analysis and statistical techniques to develop compelling propositions and assess risk.
- Strong communication and presentation skills to effectively convey technical information to non-technical stakeholders
- Ability to collaborate with cross-functional teams, including Finance, Marketing, Investment, Risk and external business partners.
- Ability to build a network across the business and use it to move projects forward.
- Comfortable taking ownership of key business processes.
- Strong analytical and problem – solving skills, with the ability to interpret complex data.
- Proactive and results focused – responding quickly and adaptably to urgent priorities as they arise.
Job Level: Experienced Colleague
Recruiter: Phoebe Ewers
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.
M&G is also proud to be a Disability Confident Leader, and we welcome applications from candidates with long-term health conditions, disabilities, or neuro-divergent conditions. Being a Disability Confident Leader means that candidates who meet the minimum criteria of a job, will be offered an interview if they \’opt in\’ to the scheme when applying.
If you need assistance or an alternative means of applying for a role due to a disability or additional need, please let us know by contacting us at: careers@mandg.com
Seniority level
-
Seniority level
Not Applicable
Employment type
-
Employment type
Full-time
Job function
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Job function
Finance and Sales
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Industries
Financial Services and Investment Management
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Pricing & Development Actuary, Individual Annuities employer: M&G plc
Contact Detail:
M&G plc Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing & Development Actuary, Individual Annuities
✨Tip Number 1
Familiarise yourself with the latest trends in individual annuities and pricing strategies. This will not only help you understand the market better but also allow you to engage in informed discussions during interviews.
✨Tip Number 2
Network with professionals in the insurance and actuarial fields. Attend industry events or join relevant online forums to connect with potential colleagues and learn about the company culture at M&G plc.
✨Tip Number 3
Brush up on your analytical skills, particularly in data analysis and statistical techniques. Being able to demonstrate your ability to interpret complex data will set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your experience with cross-functional collaboration. M&G values teamwork, so be ready to share examples of how you've successfully worked with different departments in previous roles.
We think you need these skills to ace Pricing & Development Actuary, Individual Annuities
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly read the job description for the Pricing & Development Actuary position. Understand the key responsibilities and required skills, especially regarding UK life insurance products and annuities.
Tailor Your CV: Customise your CV to highlight relevant experience and skills that align with the job requirements. Emphasise your analytical abilities, experience with data analysis, and any knowledge of pricing methodologies or product development in the insurance sector.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the company. Mention specific experiences that demonstrate your ability to collaborate with cross-functional teams and your understanding of regulatory requirements in the insurance industry.
Highlight Soft Skills: In your application, don't forget to mention your strong communication and presentation skills. Provide examples of how you've effectively conveyed technical information to non-technical stakeholders, as this is crucial for the role.
How to prepare for a job interview at M&G plc
✨Understand the Role Thoroughly
Before your interview, make sure you have a solid grasp of what the Pricing & Development Actuary role entails. Familiarise yourself with individual annuities, pricing strategies, and the specific responsibilities mentioned in the job description. This will help you answer questions confidently and demonstrate your genuine interest in the position.
✨Showcase Your Analytical Skills
Given the emphasis on data analysis and statistical techniques in this role, be prepared to discuss your experience with these skills. Bring examples of how you've used data to inform decisions or develop propositions in previous roles. This will highlight your ability to handle the analytical demands of the job.
✨Prepare for Technical Questions
Expect to face technical questions related to UK life insurance products and annuities. Brush up on relevant concepts and be ready to explain them clearly. If you have experience with longevity modelling or bulk purchase annuities, be sure to mention it, as it could set you apart from other candidates.
✨Demonstrate Collaboration Skills
The role involves working with various internal teams and external partners. Be ready to share examples of how you've successfully collaborated in the past. Highlight your communication skills and ability to influence stakeholders, as these are crucial for moving projects forward in a cross-functional environment.
