At a Glance
- Tasks: Validate financial models and ensure compliance with regulations while collaborating with a dynamic team.
- Company: Join M&G, a leading firm with over 175 years of innovation in finance.
- Benefits: Enjoy a generous pension scheme, 38 days annual leave, and flexible working options.
- Other info: Diverse and inclusive workplace committed to supporting all employees.
- 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.
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.
Context for the role: 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. 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; and, 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 M&G Life team is responsible for oversight of risks within M&G Life. 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 organisation. This involves conducting independent reviews of models, assumptions, and methodologies to identify potential risks or weaknesses.
- Following completion of the validation, you will be responsible for summarising the results of the validation 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.
- Work collaboratively with colleagues and take personal accountability to maintain and enhance controls you are responsible for to support improvement of the overall control environment, customers 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
- To have 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 in line with these detailed statistical knowledge
- 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
- 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
- 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
- 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
- We are proud to offer a valuable pension scheme of 18%, with 13% made up of employer contributions and 5% employee contributions.
- We also offer Share Save and our Share Incentive Plan, together with access to financial well‑being and support services to give you real confidence to put your money to work.
- Enjoy 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 – to balance your work and personal commitments.
- Our market‑leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy and paternity leave – as supporting families is a core aspect of our inclusive culture.
- Health & protection cover including private healthcare, critical illness cover and life assurance for you, with family options – for peace of mind.
Life at M&G: 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.
Model Validation Senior Actuary / Senior Analyst employer: M&G
M&G plc is an exceptional employer that prioritises employee well-being and professional growth, offering a generous pension scheme, extensive annual leave, and comprehensive family support policies. Our inclusive culture fosters collaboration and innovation, ensuring that every team member feels valued and empowered to contribute meaningfully. With flexible working arrangements and a commitment to diversity, M&G provides a supportive environment where you can thrive in your role as a Model Validation Senior Actuary / Senior Analyst.
StudySmarter Expert Advice🤫
We think this is how you could land Model Validation Senior Actuary / Senior Analyst
✨Tip Number 1
Network like a pro! Reach out to your connections in the industry, attend relevant events, and don’t be shy about asking for introductions. 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 the company and its culture. Understand their values and how they align with yours. We want you to walk in feeling confident and ready to show them why you’re the perfect fit for the Model Validation Senior Actuary role.
✨Tip Number 3
Practice your responses to common interview questions, especially those related to model validation and risk management. We suggest doing mock interviews with friends or mentors to get comfortable with articulating your experience and skills.
✨Tip Number 4
Don’t forget to follow up after your interviews! A simple thank-you email can go a long way in showing your appreciation and keeping you top of mind. And remember, apply through our website for the best chance at landing that role!
We think you need these skills to ace Model Validation Senior Actuary / Senior Analyst
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter to highlight your experience in model validation and risk management. We want to see how your skills align with our mission of providing confidence in financial solutions.
Showcase Your Analytical Skills:In your application, emphasise your analytical and investigative abilities. We’re looking for someone who can dig deep into data and challenge assumptions, so don’t hold back on sharing relevant examples!
Be Clear and Concise:When writing your cover letter, keep it succinct and to the point. We appreciate clarity, especially when it comes to presenting complex information. Make it easy for us to see why you’re a great fit for the role.
Apply Through Our Website:We encourage you 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, it’s super straightforward!
How to prepare for a job interview at M&G
✨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 capital, pricing, and valuation models, as well as the assumptions and methodologies behind them. Being able to discuss these confidently will show that you're prepared and knowledgeable.
✨Familiarise Yourself with Regulations
Since this role involves compliance with financial services regulations, it's crucial to be well-versed in the relevant regulatory environment. Review the latest guidelines from the PRA and understand how they apply to model validation. This will help you demonstrate your expertise and readiness to tackle compliance challenges.
✨Prepare for Constructive Challenges
Expect to provide constructive challenges during the interview. Think about potential weaknesses in models and how you would address them. Prepare examples from your past experience where you've successfully identified risks or improved processes, as this will highlight your analytical skills.
✨Showcase Your Communication Skills
You'll need to present findings to senior stakeholders, so practice summarising complex information succinctly. Be ready to explain technical concepts in a way that's easy to understand. Good communication is key, so consider rehearsing with a friend or using mock interviews to refine your delivery.
