At a Glance
- Tasks: Validate models and ensure compliance with financial regulations while collaborating with a dynamic team.
- Company: Join M&G plc, a leading savings and investments firm with over 175 years of innovation.
- Benefits: Enjoy 38 days annual leave, a generous pension scheme, and comprehensive health coverage.
- Other info: Inclusive culture welcoming diverse backgrounds and flexible working arrangements.
- Why this job: Make a real impact in risk management and model validation within a supportive environment.
- Qualifications: Experience in actuarial modelling and strong analytical skills are essential.
The predicted salary is between 60000 - 80000 € 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.
The M&G plc Risk and Compliance function assists the Board to formulate, implement and monitor adherence to the Risk Appetite and Limit framework, risk management plans, risk policies, risk reporting and risk identification processes. It provides guidance, tools and technology and reviews and assesses the risk-taking activities of the first line of defence, where appropriate challenging the actions being taken to manage and control risks. It also provides the Board with an aggregate view of M&G plc's risk profile and supports them in identifying and assessing key and emerging risks which threaten the achievement of M&G plc's objectives.
The Model Validation team supports the business in managing model risk across the group through the independent validation of both the Solvency II Internal Model and other critical Models and User Developed Applications within the business, including pricing models and operational risk modelling. The team also has responsibility for the company Solvency UK compliance framework, ensuring the business adheres to the relevant regulatory requirements including any new requirements issued by the PRA.
The Manager role will provide the opportunity to validate the Internal Model, interpret and support the business in understanding and adhering to the various regulations and produce and present papers for senior committees.
Key Responsibilities:- Provide independent validation of a range of models used across M&G plc (e.g. capital, pricing, valuations) to provide assurance on the accuracy, reliability, and integrity of models used within an organization. This involves conducting independent reviews of models, assumptions, and methodologies to identify potential risks or weaknesses.
- Following completion of the validation, summarise the results and present these in a succinct manner to relevant committees and senior stakeholders as well as agree any actions with the model owners.
- Work collaboratively with colleagues and key stakeholders to build out coverage of our model development risks and support any developments to the risk framework.
- Maintain and enhance controls to support improvement of the overall control environment, customer outcomes and a reduction in M&G plc's operational risk.
- Support the reporting of the quarterly model change log to the PRA and results of the Solvency UK Compliance exercise to senior committees and Boards.
- Experience in the validation of models and tools.
- Good knowledge of Financial services regulations and internal model design.
- Working knowledge of industry best practice and good network/links with individuals and external bodies.
- Good knowledge of UK financial services regulatory environment.
- Strong knowledge and recent exposure to model development risks and risk framework development.
- Awareness of external developments and ability to identify, recommend and implement improvements to processes and policies.
- (Essential) Experience in actuarial and statistical modelling.
- Experience in model risk and governance.
- Experience of providing constructive challenge and oversight of technical matters.
- Experience in model development risks and risk framework development.
- (Desirable) Experience in risk guidance and compliance environments.
- Experience of liaising, influencing and negotiating effectively with internal parties.
- Experience of Financial Services regulatory environment and Prudential regulations.
- Experience of managing projects.
- (Essential) Able to work collaboratively across the immediate team and broader Risk and Compliance function while also being able to work independently.
- Good analytical and organisational skills.
- Good investigative skills and ability to constructively challenge.
- Able to look beyond face value, ask the right questions and make links and connections across the organisation.
- A strong ability to learn quickly and explain issues to others.
- (Desirable) Relationship building skills.
- Strong oral and written communication skills.
- High level of diplomacy, discretion and problem-solving ability.
- Experience in Python, PowerBI or R.
- Professional qualification, e.g. CFA or Qualified Actuary, desirable.
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.
M&G is 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
Model Validation Senior Actuary / Senior Analyst - 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 generous pension scheme, extensive annual leave, and comprehensive family support policies. With a commitment to inclusivity and flexibility, M&G fosters a collaborative work culture where employees can thrive while contributing to meaningful financial solutions. Located in the heart of the UK, this role provides the opportunity to engage with industry-leading practices in risk management and model validation, ensuring a rewarding career path.
StudySmarter Expert Advice🤫
We think this is how you could land Model Validation Senior Actuary / Senior Analyst - M&G plc. in Stirling
✨Tip Number 1
Network like a pro! Reach out to current employees at M&G plc on LinkedIn or through mutual connections. A friendly chat can give you insider info and might just get your foot in the door.
✨Tip Number 2
Prepare for interviews by practising common questions related to model validation and risk management. We recommend using the STAR method to structure your answers, showcasing your experience and skills effectively.
✨Tip Number 3
Showcase your analytical skills during interviews. Bring examples of how you've tackled complex problems in the past, especially in model validation or risk governance. This will demonstrate your fit for the role.
✨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 you’re genuinely interested in joining M&G plc.
We think you need these skills to ace Model Validation Senior Actuary / Senior Analyst - M&G plc. in Stirling
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the Model Validation Senior Actuary role. Highlight your experience in model validation and risk management, and don’t forget to mention any relevant qualifications or tools you’ve used, like Python or PowerBI.
Showcase Your Skills:We want to see your analytical and organisational skills shine through! Use specific examples from your past experiences to demonstrate how you've tackled challenges in model risk and governance. This will help us understand how you can contribute to our team.
Be Clear and Concise:When writing your application, keep it straightforward and to the point. We appreciate clarity, so summarise your key achievements and experiences succinctly. This will make it easier for us to see your fit for the role.
Apply Through Our Website:Don’t forget to submit your application through our website! It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, you’ll find all the info you need about the application process there.
How to prepare for a job interview at M&G plc
✨Know Your Models Inside Out
Make sure you have a solid understanding of the models you'll be validating. Brush up on your knowledge of actuarial and statistical modelling, as well as the specific methodologies used in M&G plc. Being able to discuss these confidently will show that you're not just familiar with the theory but can apply it practically.
✨Understand Regulatory Requirements
Familiarise yourself with the UK financial services regulatory environment and the specific requirements of Solvency II. This will help you demonstrate your ability to navigate compliance issues and show that you can effectively support the business in adhering to regulations.
✨Prepare for Constructive Challenges
Be ready to discuss how you've provided constructive challenge in previous roles. Think of examples where you've identified risks or weaknesses in models and how you addressed them. This will highlight your analytical skills and your ability to work collaboratively while maintaining a critical eye.
✨Communicate Clearly and Confidently
Practice summarising complex information succinctly, as you'll need to present validation results to senior stakeholders. Work on your oral and written communication skills, ensuring you can explain technical concepts in a way that's easy to understand. This will be key in making a positive impression during your interview.
