At a Glance
- Tasks: Shape M&G's growth strategy in pensions and insurance through innovative actuarial solutions.
- Company: Join M&G plc, a leader in savings and investments with over 175 years of innovation.
- Benefits: Enjoy 38 days annual leave, a generous pension scheme, and comprehensive health cover.
- Other info: Flexible working arrangements and a commitment to diversity and inclusion.
- Why this job: Make a real impact in the evolving world of pensions and insurance while advancing your career.
- Qualifications: Experience in DB pensions and strong analytical skills are essential.
The predicted salary is between 55000 - 65000 £ per year.
Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions.
As part of the Finance Business Development team, you will help shape and deliver the future of M&G's growth strategy. Our recent re-entry to the bulk annuity market means that the team requires more talented and motivated actuaries with an understanding of Defined Benefit pensions. You will play a pivotal role in supporting our bulk annuity proposition by designing methodologies, assumptions and models to value BPA liabilities and also to support the business in launching new propositions and new product features. This is an excellent opportunity for a pensions actuary who is looking to broaden their expertise and transition into insurance, or an actuary in an existing bulk annuity provider with DB pensions knowledge who is looking for their next career step.
Key Responsibilities
- Provide actuarial input into the analysis and assessment of BPA product features and how these impact Finance.
- Assist in the development of pricing, valuation, and modelling assumptions for BPA liabilities.
- Support the creation of financial models and scenario analyses to inform senior decision-making.
- Contribute to risk assessments and ensure alignment with regulatory, capital, and governance frameworks.
- Prepare clear and concise documentation, presentations, and recommendations for stakeholders.
- Maintain awareness of market trends in DB pensions, de-risking, longevity, and insurance-based solutions.
- Collaborate with BAU and Finance teams to ensure smooth transition of new processes into ongoing operations.
- Drive improvements to actuarial controls, data quality, and process efficiency.
- Opportunities to support across our wider product suite outside of bulk annuities.
Key Knowledge, Skills & Experience
- Experience in DB pensions, such as scheme valuations, funding advice, risk transfer, bulk annuities.
- Understanding of life insurance valuation or an interest in transitioning into insurance-based actuarial work.
- Strong communication skills, with the ability to convey complex concepts to non-technical audiences.
- Ability to apply actuarial judgement to commercial, strategic, and uncertain environments.
- Experience working within strong governance frameworks and managing actuarial risk.
- Ability to prioritise effectively, work independently, and manage competing deadlines.
- Strong analytical skills and familiarity with actuarial modelling tools/software.
- Knowledge of Solvency II, IFRS 17, or insurance reporting (desirable but not essential).
Qualifications
- Fellow of the Institute and Faculty of Actuaries or close to qualification.
What we offer:
At M&G, we're committed to helping you thrive and supporting your wellbeing, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, while planning confidently for your future. Our UK benefits include:
- A valuable pension scheme of 18%, with 13% made up of Employer Contributions and 5% Employee Contributions.
- Share Save and our Share Incentive Plan, together with access to financial wellbeing and support services.
- 38 days annual leave including bank holidays, with the opportunity to purchase up to 5 extra days and additional flexibility through our Time Off When You Need It policy.
- Comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave.
- Health & Protection cover including Private Healthcare, Critical Illness cover and Life Assurance for you, with family options.
We have a diverse workforce and an inclusive culture at M&G, 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.
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
Actuary (Pensions) - Business Development - M&G plc. in Stirling employer: M&G plc
M&G plc is an exceptional employer that prioritises employee wellbeing and professional growth, offering a comprehensive benefits package including an 18% pension scheme, generous annual leave, and extensive family support policies. With a commitment to inclusivity and flexible working arrangements, M&G fosters a collaborative work culture where actuaries can thrive while contributing to innovative solutions in the pensions sector.
StudySmarter Expert Advice🤫
We think this is how you could land Actuary (Pensions) - Business Development - M&G plc. in Stirling
✨Tip Number 1
Network like a pro! Reach out to your connections in the industry, attend relevant events, and engage with professionals on platforms like LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that dream job.
✨Tip Number 2
Prepare for interviews by researching M&G and understanding their values and recent developments in the pensions sector. We want to see that you’re genuinely interested in the role and the company, so come armed with questions that show you’ve done your homework!
✨Tip Number 3
Practice your communication skills! As an actuary, you’ll need to explain complex concepts clearly. We suggest doing mock interviews with friends or mentors to refine your ability to convey your expertise in a way that’s easy to understand.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows us that you’re proactive and serious about joining our team at M&G.
We think you need these skills to ace Actuary (Pensions) - Business Development - M&G plc. in Stirling
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the Actuary role at M&G. Highlight your experience with DB pensions and any relevant projects that showcase your skills in pricing and modelling. We want to see how you fit into our vision!
Showcase Your Communication Skills:Since you'll be conveying complex actuarial concepts, it's crucial to demonstrate your communication prowess. Use clear language in your application and provide examples of how you've successfully communicated technical information to non-technical audiences.
Be Concise and Clear:When preparing your documentation, keep it straightforward and to the point. We appreciate clarity, so make sure your key achievements and experiences stand out without unnecessary fluff. This will help us quickly see your potential!
Apply Through Our Website:We encourage you to submit your application directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, you’ll find all the details about the role and our company culture there!
How to prepare for a job interview at M&G plc
✨Know Your Numbers
As an actuary, you'll be expected to have a solid grasp of DB pensions and bulk annuities. Brush up on your technical knowledge and be ready to discuss specific methodologies, assumptions, and models you've worked with. This will show that you’re not just familiar with the concepts but can apply them in real-world scenarios.
✨Communicate Clearly
Strong communication skills are key for this role, especially when conveying complex actuarial concepts to non-technical stakeholders. Practice explaining your past projects or experiences in simple terms. This will demonstrate your ability to bridge the gap between technical and non-technical audiences.
✨Stay Current with Market Trends
M&G values awareness of market trends in DB pensions and insurance solutions. Before your interview, research recent developments in the industry, particularly around de-risking and longevity. Being able to discuss these trends will show your genuine interest and proactive approach.
✨Prepare Thoughtful Questions
Interviews are a two-way street, so come prepared with insightful questions about M&G's growth strategy and how the Finance Business Development team fits into it. This not only shows your enthusiasm for the role but also helps you assess if the company aligns with your career goals.
