M&G
Risk Modelling Actuary / Senior Analyst (12-month secondment/FTC)
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Solvency II Internal Capital Model Development – Risk Modelling Role
Our purpose is to give everyone real confidence to put their money to work. With a heritage dating back over 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 segments, Asset Management and Life, collaborate to deliver balanced, long-term investment and savings solutions.
Through transparency, accountability, and collaborative progress-driven by care and integrity, we create an exceptional place to work for exceptional talent.
We will consider flexible working arrangements and workplace accommodations to support effective role performance.
Role Overview
The successful candidate will join the Solvency II Internal Capital Model (ICM) development team, focusing on risk modelling for illiquid credit-risky assets, requiring a blend of technical work, documentation, and stakeholder engagement.
Key Responsibilities
- Assist in methodology development for Solvency II credit risk model and its supporting tools for illiquid credit-risky assets.
- Collaborate with internal teams (e.g., Treasury & Investment, M&G Group) to refine project plans, asset data requirements, and approvals.
- Engage in risk identification and modelling exercises, integration of data, analysis refinement, and stakeholder communications.
- Lead tasks such as opportunity research, methodology improvement, and model implementation with Finance, developers, and end-users.
- Support strategic asset-related projects across M&G, foster cross-functional cooperation, and advance customer value.
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Pathways & Reporting Structure
Reporting to a Risk Modelling Manager, this role operates on a blended remote/office model (Scotland/London), initially contract’s for 12 months with potential extension.
About the Risk Modelling Team
The team oversees economic/market-based valuation methodologies for customer-related benefits and assets backing regulatory capital, covering best-estimate and solvency protection scenarios such as:
- Annual calibration of market/credit risks and their dependencies:
- Data collection, analysis updates, judgement rationalisation, reporting to senior stakeholders.
- Methodology & tool development, including research, validation, and stakeholder-communicated updates.
- Integration with Finance/developers/tool-users to implement new risk models.
Role-Level specifics: Experienced Colleague
| - Provides high-value customer/stakeholder service &’ deliverables with established frameworks and interpretative flexibility.
- Self-driven in quality outputs with opportunity bias on continuous improvements.
- Balances discretion with structured problem-solving. | - Multiskilling for end-to-end analytical workflows, including project sponsorship and process-design improvement.
- Prioritisation of cross-functional needs while ensuring regulatory governance and stakeholder harmony. |
Key Essential Requirements
- Degree (minimum) / Master’s / PhD in quantitative subjects (e.g., mathematics, computer science, actuarial science).
- Stakeholder management and audience-aligned communication experience.
- Ability to deliver under pressure while managing competing demands.
- Strong grasp of financial markets and diverse asset classes.
- Proficiency in statistics (e.g., stochastic modelling, VaR, backtesting).
- Technical coding expertise—preferably in Python, C++, R, or MATLAB.
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Desirable Skills
- Certifications (e.g., FIA, FRM, CFA).
- Research experience in stochastic risk models.
Our WorkplaceCulture
How we support you:
- Confidence in finance: Tailor-made pension (18% total), matching flexibility through Share Plan/Share Save, and financial wellbeing resources.
- Work–life balance: 38 days annual leave + optional 5 extra days + flexible holiday arrangements.
- Inspiring Families: Comprehensive parental leave, surrogacy, adoption support— rooted in an inclusive culture.
- Health & Protection: Encompassing private healthcare and critical illness coverage.
Want to build your future with M&G? [Explore our benefits](Life at M&G).
We value diversity, striving for gender/ethnicity balance, neurodiversity, and empowering military/veteran professionals, and those re-entering career pipelines. As a Disability Confident Leader, we foster inclusion for all.
For accessibility adjustments ([disability support]), contact: careers@mandg.com.
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