Head of Risk Modelling (fixed term) in London

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. Through 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 workplace accommodations to ensure you have what you need to effectively deliver in your role.

Role Context

Leading the team with responsibility for market, credit, dependency and operational risk modelling for setting associated capital levels, with ongoing engagement with senior stakeholders both internally and externally.

The Head of Risk Modelling is responsible for:

• The annual calibration of market 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.
• Undertaking ongoing development to the methodology and tools which underpin the calibrations. This involves research and implementation of enhancements, with associated testing and communication both across the business and with our regulators (including Major Model Change applications).
• The production of monthly market data packs, with responsibility for delivering accurate and timely reports to end users across M&G plc.
• The annual 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.

Purpose statements

• Manage teams consisting of actuaries and quantitative specialists.
• Understand and be able to communicate complex technical problems from several angles.
• Implement novel technical solutions that are pragmatic so they fit within the business’s needs and produce analysis to support solutions.
• Ensure that work is accurate and delivered in a timely fashion.
• Be confident in explaining results to senior management.
• Document and communicate technical concepts in a way that is clear and concise.

Knowledge statements

• Good understanding of statistics and statistical methods.
• Strong technical skills (e.g. VBA knowledge, Matlab) and ability to lead the development of efficient tools.

Experience statements

• Significant experience of specifying building or using capital models.
• Significant experience of communicating vision to gain support, motivate others, and build a sense of shared purpose.
• Significant experience of using knowledge of the external environment to shape thinking internally.
• Significant experience of acting as a trusted advisor to the business, utilising subject matter expertise to interpret complex recommendations, considering cause and effect, drawing conclusions and recommending solutions.
• Significant experience of identifying and anticipating potential concerns for key stakeholders and using multiple strategies and methods to gain support for change.
• Significant experience of coaching and guiding others.
• Experience of leading a team, building, organising and providing leadership.
• Experience of constructing and rolling out cross-divisional initiatives.

Personal attributes/skills

• Ability to balance technical excellence and commerciality when exercising judgement.
• Work in an influential and collaborative manner.
• Proactive, forward thinking and strategic.
• Ability to establish and maintain credibility with the business.
• Ability to support and manage a team of technical experts, providing guidance and direction when required.
• Excellent verbal and written communication skills.

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.
• Enjoy 38 days annual leave.