Pricing & Development Associate Actuary, Individual Annuities
Pricing & Development Associate Actuary, Individual Annuities
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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.
The Role: Pricing & Development Associate Actuary Individual Annuities
Individual Life & Pensions is a division of M&G Life responsible for the manufacture and management of individual insurance products within the UK and internationally.
We have a strong ambition to increase our share of the Fixed Term Annuity market and expand into Lifetime Annuities. We are adding headcount to the Individual Annuities Pricing & Development Team to deliver this goal.
The remit of the team is to establish and execute competitive pricing strategy for our with-profits annuity propositions and ensure all technical elements associated with launching and maintaining our products are appropriately designed and implemented.
This includes but is not limited to establishing a valuation methodology for new business assisting the build of a customer quotation platform negotiating and setting up longevity reinsurance and developing an enhanced annuity underwriting process.
This role involves collaborating with a wide range of internal teams and external partners to ensure the successful development and management of individual annuity products.
Key responsibilities for this role
- Produce new business pricing for our Individual Annuity products.
- Take responsibility for regular BI updates.
- Assist the with-profits bonus setting for existing business.
- Support implementation and testing of calculations on IT systems.
- Contribute to pricing assumption reviews through the production of robust experience and market analysis
- Develop new and enhanced modelling capability including tech solutions across the Individual Annuity pricing infrastructure
- Assist with the development and launch of new Individual Annuity products.
Knowledge skills and experience
- Commercially minded Student Actuary with exceptional technical skills.
- Experience of individual annuities bulk annuities life insurance pricing or UK pension and longevity modelling strongly preferred.
- Experience with data and trend analysis and statistical techniques to develop compelling propositions and assess risk.
- Strong communication and presentation skills to effectively convey technical information to non-technical stakeholders
- Ability to collaborate with cross-functional teams including Finance Marketing Investment Risk and external business partners.
- Strong analytical and problem-solving skills with the ability to interpret complex data.
- Proactive and results focused responding quickly and adaptably to urgent priorities as they arise.
Job Level: Colleague
Recruiter: Phoebe Ewers
We have a diverse workforce and an inclusive culture at M&G plc 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.
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:
IC
Employment Type
Full-Time
