Pricing Actuary, Individual Annuities

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.

This is an exciting opportunity to join M&G Life’s Individual Life & Pensions division (IL&P) at a pivotal time of growth and ambition. We’re expanding rapidly, launching new products, strengthening our presence in the Fixed Term Annuity market, and entering the Lifetime Annuity space. To support this journey, we’re looking for a Pricing Actuary to join our Individual Annuities Pricing & Development team, reporting directly to the Head of Retail Annuity Pricing.

The Opportunity

This is more than just a pricing role. You’ll play a key part in defining how we compete, grow and deliver value to customers. From shaping pricing strategies to enhancing modelling capabilities, you’ll be at the heart of building a market‑leading annuity business.

Key Responsibilities

• Lead pricing activity for Individual Annuity products, translating strategy into competitive and commercially sound pricing decisions.
• Monitor performance by analysing sales volumes, profitability, and our competitive position in the market.
• Support the development of an active, dynamic pricing framework with frequent repricing to stay ahead in a fast‑moving market.
• Influence pricing assumptions through detailed experience analysis and market insights.
• Drive improvements in pricing models and infrastructure, including the adoption of new technologies and tools.
• Collaborate cross‑functionally with teams across Finance, Investments, Risk, Propositions, and external partners.
• Present insights and recommendations to senior stakeholders, forums, and committees.
• Mentor and support junior colleagues, contributing to a high‑performing and collaborative team culture.

What We’re Looking For

• A commercially minded actuary with strong technical expertise and a passion for product development.
• Qualified actuary preferred, but we’re equally open to candidates with strong, hands‑on pricing experience.
• Experience in individual annuities pricing is ideal, though we welcome those from related pricing or analytical actuarial roles.
• Strong analytical and problem‑solving skills, with the ability to interpret complex data and translate it into actionable insight.
• Experience in data analysis, trend modelling, and statistical techniques.
• Excellent communication skills, with the ability to convey technical concepts clearly to non‑technical audiences.
• A collaborative mindset, comfortable working across multiple teams and stakeholders.
• Proactive and adaptable, able to respond to changing priorities with pace and confidence.
• Experience with Python is a plus, but not essential.

Why Join Us?

• Be part of a growing and ambitious annuity business with significant investment and opportunity.
• Shape new product launches and influence strategic market entry into Lifetime Annuities.
• Work in a team that values innovation, collaboration, and continuous improvement.
• Gain visibility and impact through senior stakeholder engagement.
• Develop your career in a role that blends technical excellence with commercial influence.

If you’re excited by the opportunity to combine technical actuarial expertise with strategic impact and want to help shape the future of annuities at M&G, we encourage you to apply.

Job Level: Experienced Colleague

Location: Edinburgh. Strong preference for Edinburgh, exceptional candidates based in Stirling, or homeworking with the ability to commute to an office may be considered.

What we offer:

• 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 wellbeing and support services.
• 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.
• 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 that 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.