M&G plc
Senior Underwriter - Annuities
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At M&G, 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 offer workplace adjustments to ensure you have the support you need to succeed in your role.
The Role
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.
We’re building something bigger, and better, that makes delivering change across our organisation easier, smarter and genuinely enjoyable for colleagues. M&G Life supports over 5 million customers with more than £300bn invested across our products, working with partners including Equiniti, Diligenta, Waystone, Paragon, Willis Towers Watson and M&G Global Services.
We’re looking for a Senior Underwriter to help M&G Life deliver its strategic priorities, for our Annuity products.
This is a unique opportunity to join a newly established underwriting function supporting the launch and growth of an exciting new annuity proposition. As an early member of the team, you will have the chance to shape underwriting practices, influence processes and contribute directly to the success of the proposition.
Alongside delivering high-quality underwriting decisions, you will be expected to contribute across a range of activities including process design, testing, training, operational readiness, governance, customer journey development and continuous improvement initiatives.
We are looking for someone who thrives in a dynamic environment, enjoys solving problems and is excited by the opportunity to build new capabilities rather than simply operate within established processes.
Key Responsibilities for this Role
- Underwrite a range of financial products, including annuities and investment bonds, ensuring all decisions align with company policies, risk appetite and regulatory requirements
- Conduct comprehensive risk assessments by reviewing financial, medical and lifestyle data, applying underwriting principles to determine eligibility, pricing and appropriate terms.
- Analyse complex cases and escalate where necessary, providing clear rationale and recommendations to senior underwriters or risk committees
- Collaborate with internal teams (e.g., Actuarial, Compliance, Operations) and external stakeholders (e.g., advisers, reinsurers) to obtain additional information, resolve queries, and ensure smooth case progression.
- Maintain robust documentation of underwriting decisions, risk assessments and supporting evidence for audit, governance, and reporting purposes
- Monitor regulatory and market developments impacting annuity and bond products, adapting underwriting practices to remain compliant and competitive
- Contribute to process improvement initiatives, leveraging data insights and technology to enhance efficiency, accuracy, and customer outcomes
- Support training and knowledge sharing within the underwriting team, promoting best practices and continuous professional development
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Key Knowledge, Skills & Experience
Our ideal candidate has strong underwriting experience across life, pensions or investment products. You are proactive and adaptable, bringing a continuous improvement mindset and a willingness to take ownership of tasks and outcomes. You apply critical thinking to interpret data from multiple sources, using digital underwriting tools and automation to turn complex information into clear insights that support effective commercial decision making.
- Experience in assessing and underwriting more complex enhanced annuity applications in line with underwriting guidelines and risk appetite.
- Experience working with reinsurers, including management of referral cases, facultative underwriting and underwriting authorities.
- Demonstrable technical underwriting skills with ability to act as a referral point and subject matter expert for more junior underwriters/underwriting support
- Experience in completing internal quality assurance reviews
- Strong knowledge of FCA regulation, Consumer Duty requirements and the importance of delivering good customer outcomes.
- Familiarity with automated underwriting systems, rules engines and digital underwriting solutions.
- Customer-focused and commercially aware, with the ability to balance positive customer outcomes with sound risk management and underwriting discipline.
- Excellent communication and stakeholder management skills, with the ability to explain technical underwriting decisions clearly to a wide range of audiences.
- Adaptable and flexible, with the enthusiasm to take on a broad range of responsibilities and contribute to the successful development of a new underwriting function.
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We’d love to hear from you if you’re someone who’s genuinely curious - the kind of person who asks thoughtful questions and digs a little deeper to understand what’s really going on. You enjoy working with others and naturally bring people together, even when things feel a bit unclear. You think ahead, notice patterns early and stay focused on creating real value for the people around you.
Most of all, you care about making things better - for colleagues, for customers, and for the workplace as a whole.
If this sounds like you, we want you to apply!
What we offer
We’re dedicated to supporting your wellbeing and helping you thrive, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, and financially plan for the future. Our UK benefits include:
- A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions).
- Access to our Share Save and Share Incentive Plan, alongside financial wellbeing and support services to help 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 five extra days. Our Time Off When You Need It policy gives you the flexibility - to balance work and personal commitments.
- Our market-leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - because supporting families is an important part of our inclusive culture.
- Health & Protection cover includes Private Healthcare, Critical Illness cover and Life Assurance for you, with additional family options - for peace of mind.
To explore more about life at M&G and our full benefits offering, visit Life at M&G
At M&G we strive to have a diverse workforce and an inclusive culture, underpinned by our policies and employee-led networks that offer networking, support and development opportunities for the diverse communities our colleagues represent. We welcome applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.
M&G is proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme, and we welcome applications from candidates with disabilities and long-term health conditions. If you would like to participate in the initiative, you will have the opportunity to indicate this on your application.
We are committed to providing an inclusive recruitment process. All candidates have the opportunity to request reasonable adjustments when applying. If you need any additional support at any stage, please contact us at: careers@mandg.com
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