Find a job 
Featured Companies 
Featured Universities 
For Companies At a Glance
- Tasks: Join our team to develop and price individual annuity products while collaborating with various teams.
- Company: M&G plc is a leading international savings and investments business with over 170 years of experience.
- Benefits: Enjoy flexible working arrangements, workplace accommodations, and a diverse, inclusive culture.
- Why this job: Be part of a dynamic team focused on innovation in financial products and making a real impact.
- Qualifications: Seeking commercially minded Student Actuaries with strong analytical skills and experience in life insurance pricing.
- Other info: We welcome applications from diverse backgrounds and offer support for candidates with disabilities.
The predicted salary is between 36000 - 60000 £ per year.
Job Description
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: Associate Actuary, Pricing & Development -Individual Annuities
Individual Life & Pensions is a division of M&G Life, responsible for the manufacture and management of individual insurance products within 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 adding headcount to the Individual Annuities Pricing & Development Team to deliver this goal.
The remit of the team is to establish and execute competitive pricing strategy for our with-profits annuity propositions and ensure all technical elements associated with launching and maintaining 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
- Produce new business pricing for our Individual Annuity products.
- Take responsibility for regular BI updates.
- Assist the with-profits bonus setting for existing business.
- Support implementation and testing of calculations on IT systems.
- Contribute to pricing assumption reviews through the production of robust experience and market analysis
- Develop new and enhanced modelling capability, including tech solutions across the Individual Annuity pricing infrastructure
- Assist with the development and launch of new Individual Annuity products.
Knowledge, skills and experience
- Commercially minded Student Actuary with exceptional technical skills.
- Experience of individual annuities, bulk annuities, life insurance pricing, or UK pension and longevity modelling strongly preferred.
- 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.
- 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: 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
Associate Actuary - M&G plc. employer: M&G plc
Contact Detail:
M&G plc Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Associate Actuary - M&G plc.
✨Tip Number 1
Familiarise yourself with the latest trends in individual annuities and life insurance pricing. Understanding the current market landscape will not only help you in interviews but also demonstrate your proactive approach to staying informed.
✨Tip Number 2
Network with professionals in the actuarial field, especially those who work in individual annuities or related areas. Engaging with industry experts can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Brush up on your technical skills, particularly in data analysis and statistical techniques. Being able to showcase your ability to interpret complex data will set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your collaborative experiences in cross-functional teams. M&G values teamwork, so having examples ready that highlight your communication and problem-solving skills will be beneficial during the interview process.
We think you need these skills to ace Associate Actuary - M&G plc.
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Associate Actuary position at M&G plc. Tailor your application to highlight relevant experience in individual annuities, life insurance pricing, and data analysis.
Highlight Relevant Skills: In your CV and cover letter, emphasise your technical skills, particularly in pricing strategies and statistical techniques. Mention any experience with cross-functional collaboration, as this is crucial for the role.
Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also reflects your understanding of M&G's mission and values. Show how your proactive approach and results-focused mindset align with their goals.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors or inconsistencies. A polished application demonstrates attention to detail, which is essential for an actuary role.
How to prepare for a job interview at M&G plc
✨Understand the Role
Make sure you have a solid grasp of what an Associate Actuary does, especially in the context of Individual Annuities. Familiarise yourself with pricing strategies, valuation methodologies, and the technical aspects of annuity products.
✨Showcase Your Technical Skills
Be prepared to discuss your experience with data analysis, statistical techniques, and any relevant software tools. Highlight specific examples where you've successfully applied these skills in previous roles or projects.
✨Communicate Effectively
Since you'll need to convey complex information to non-technical stakeholders, practice explaining technical concepts in simple terms. This will demonstrate your strong communication skills and ability to collaborate across teams.
✨Demonstrate Proactivity
M&G values a proactive approach, so be ready to share instances where you've taken initiative in your work. Discuss how you've responded to urgent priorities and adapted to changing circumstances in past roles.
