Model Validation Senior Actuary Senior Analyst
Model Validation Senior Actuary Senior Analyst
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Job Description
At M&G our purpose is to give everyone real confidence to put their money to work.As an international savings and investments business with roots stretching back more than 170 years we offer a range of financial products and services through Asset Management Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients and superior shareholder returns.
Through our behaviours of 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 work place accommodations to ensure you have what you need to effectively deliver in your role.
Context for the role:
The M&G plc Risk and Compliance function:
- 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; andprovides the Board with an aggregate view of M&G plcs risk profile and supports them in identifying and assessing key and emerging risks which threaten the achievement of M&G plcs objectives. The M&G Life team is responsible for oversight of risks within M&G Life.
- The Model Validation team support 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 of 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 organization. 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.
- To 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 plcs operational risk.
- To 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.
Knowledge required:
- 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
- Awareness of external developments and ability to identify recommend and implement improvements to processes and policies in line with these detailed statistical knowledge
Experience required:
(Essential)
- Experience in actuarial and statistical modelling
- Experience in model risk and governance
- Experience of providing constructive challenge and oversight of technical matters
(Desirable)
- 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
Personal attribute/skills:
(Essential)
- 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
(Desirable)
- Relationship building skills
- Strong oral and written communication skills.
- High level of diplomacy discretion and problem solving ability.
- Experience in Python PowerBI or R
Qualifications:
- Professional qualification e.g. Qualified Actuary desirable
Experience Level: Manager / Expert
Recruiter: Helen Simons
We have a diverse workforce and an inclusive culture at M&G plc underpinned by our policies and our employeeled 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.
Ifyou need assistanceor an alternative means of applying for a role due to a disability or additional needpleaselet usknow by contacting us at:
Required Experience:
Senior IC
Employment Type
Full-Time
