Risk Analyst, Solvency II ERM

Stirling - UK

Monthly Salary: Not Disclosed

Posted on: Yesterday

Vacancies: 1 Vacancy

Job Summary

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 work place accommodations to ensure you have what you need to effectively deliver in your role.

TheSolvency IIEnterprise Risk Management Team sits within the M&G plc Risk and Compliance functionwhoare responsible for:

assistingthe Board to formulate implement andmonitoradherence to the Risk Management Framework;

reviewingassessingand challenging the actions taken by first line of defence to managemitigate and control risks; and

providing the Board with an aggregate view of M&G plcs risk profile and supporting them inidentifyingand assessing key andemergingrisks.

Theteamprimarilyoperatesacross theLife business however some Group processes owned by the team also consider the wider AssetManagementand Group functions. The teamis responsible fora number ofSolvency IIenterprise-wide risk management processes reporting into Boards and Committees.

The roleprovidesanexcellentopportunity togain experience in a Risk function andconsiderrisk holisticallytosupport M&Gs growth plans. The role willinteract with a wide range of stakeholders toaggregate risk-basedinformation and communicate it effectively to Boards and Committees.The role is reliant oncollaboratingwiththe firstsecondand thirdlines of defence to collate challenge and present information in relation to theGroupsenterprise risk management processes.

Theprocessesthat the team managesrun across the year andinclude annual reportingmaintainingcompliance with the Solvency II Pillar II requirements risk identification including analysis of emerging risks collation of the Own Risk and Solvency Assessment (ORSA)Reportand calculation of the operational risk capital requirements.

Therisk analyst rolecombinesownership ofkey team deliverableswithsupportingsenior members of the teamin completinglargermore complexprocesses.The role provides opportunitiesto interact with senior management includingproducingboard papers and presentingthese at committees.

Theteams work is primarilybased aroundtheSolvency IIrequirements however anin depthknowledge of theSolvency IIregulations is not necessaryas long as the successful candidatehas relevant experience and isenthusiastic with a desire to learn. Theteam is looking for someone with ananalytic mindset andproactive attitudewhois able towork independentlyandhas the ability tocommunicate effectively tobuild relationships with a variety of different stakeholders.

The role would be best suited to apartially qualified actuarial student arecent graduatewith arelevantactuarialrisk orfinance baseddegree or someone withexistingFinance or Risk experience looking towork in Solvency II or risk management.

Key accountabilities for this role

Ownership of theManagementInformationreportfor the Internal ModelGovernance Oversight Committee and supporting processes such as maintenance of the documentation inventory.

Support the coordination and production of regulatory disclosuredocuments includingthe Solvency and Financial Condition ReportsORSA ReportandAnnual Reporting Accounts.

Maintain Group-wide Operating Standardsandmonitorcompliance with the Solvency II Pillar II regulatory requirements including compliance attestations.

Support theteam inidentifyingrisk includingmonitoringemergingrisksandidentifyingnew risks associated with the Lifebusinessgrowth agenda.

Support the team in analysingrisksandassessingthe resilience of the Groupthroughstress and scenario testing requirements and reporting.

Support theassessment process fordeterminingthe operational risk capital requirements includingcoordinating andtaking part inworkshops with subject matter experts from across the business.

Support the teams assessments against their key risks and controls including the assessment of any identified issues and notifiable events

Knowledge Requirements

Essential

Life Pensions and Investment products markets and competitors

Desirable

Financial services regulatory and legislative frameworks including Solvency II
Components of a risk framework
Understanding of M&G plc products systems and distribution methods

Experience Required

Essential

Minimum 2:1 in a relevant actuarial or financial/economic based degree and/or equivalent relevant work experience (minimum 1-2 years) in a Finance company

Desirable

Working with stakeholders to consolidate information into succinct reports for management
Identifying and assessing risk
Conducting risk reporting processes
Involvement in workshops (preparation and facilitation)
Operating or reviewing process and outputs
Supporting senior team members to deliver work
Working towards a professional actuarial or risk based qualification

Skills

Essential

Ability to work collaboratively across the immediate team and broader Risk and Compliance function
Ability to take accountability and organise tasks work independently and deliver outcomes to a high standard
Desire to strive to learn and consistently improve and simplify processes
Analytical numerical and problem solving skills
Ability to accurately summarise and communicate information orally and within written reports

Desirable

Stakeholder management and relationship building across a wide range of stakeholders
Good investigative skills and ability to constructively challenge
Ability to identify risks holistically and communicate the bigger picture effectively

Qualifications

Work towards completion of a professional actuarial or risk qualification not essential but helpful. Future training and support towards a relevant qualification will be considered.

Experience Level: Experienced Colleague

Recruiter: Helen Simons

What we offer:

At M&G were committed to helping you thrive and supporting your wellbeing both at work and beyond. Our benefits are designed to help you balance your professional and personal life while planning confidently for your future. Our UK benefits include:

As a savings and Investments firm 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 - 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 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 - as supporting families is a core aspect of our inclusive culture.
Health & Protection cover including Private Healthcare Critical Illness cover and Life Assurance for you with family options - for peace of mind.

To explore more about life at M&G and our full benefits offering visit Life at M&G

We have a diverse workforce and an inclusive culture at M&G 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.

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.

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:

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 work place accommodations to ensure you have what you need to effectively deliver in your role.

TheSolvency IIEnterprise Risk Management Team sits within the M&G plc Risk and Compliance functionwhoare responsible for:

assistingthe Board to formulate implement andmonitoradherence to the Risk Management Framework;

reviewingassessingand challenging the actions taken by first line of defence to managemitigate and control risks; and

providing the Board with an aggregate view of M&G plcs risk profile and supporting them inidentifyingand assessing key andemergingrisks.

Key accountabilities for this role

Ownership of theManagementInformationreportfor the Internal ModelGovernance Oversight Committee and supporting processes such as maintenance of the documentation inventory.

Support the coordination and production of regulatory disclosuredocuments includingthe Solvency and Financial Condition ReportsORSA ReportandAnnual Reporting Accounts.

Maintain Group-wide Operating Standardsandmonitorcompliance with the Solvency II Pillar II regulatory requirements including compliance attestations.

Support theteam inidentifyingrisk includingmonitoringemergingrisksandidentifyingnew risks associated with the Lifebusinessgrowth agenda.

Support the team in analysingrisksandassessingthe resilience of the Groupthroughstress and scenario testing requirements and reporting.

Support theassessment process fordeterminingthe operational risk capital requirements includingcoordinating andtaking part inworkshops with subject matter experts from across the business.

Support the teams assessments against their key risks and controls including the assessment of any identified issues and notifiable events

Knowledge Requirements

Essential

Life Pensions and Investment products markets and competitors

Desirable

Financial services regulatory and legislative frameworks including Solvency II
Components of a risk framework
Understanding of M&G plc products systems and distribution methods

Experience Required

Essential

Minimum 2:1 in a relevant actuarial or financial/economic based degree and/or equivalent relevant work experience (minimum 1-2 years) in a Finance company

Desirable

Working with stakeholders to consolidate information into succinct reports for management
Identifying and assessing risk
Conducting risk reporting processes
Involvement in workshops (preparation and facilitation)
Operating or reviewing process and outputs
Supporting senior team members to deliver work
Working towards a professional actuarial or risk based qualification

Skills

Essential

Ability to work collaboratively across the immediate team and broader Risk and Compliance function
Ability to take accountability and organise tasks work independently and deliver outcomes to a high standard
Desire to strive to learn and consistently improve and simplify processes
Analytical numerical and problem solving skills
Ability to accurately summarise and communicate information orally and within written reports

Desirable

Stakeholder management and relationship building across a wide range of stakeholders
Good investigative skills and ability to constructively challenge
Ability to identify risks holistically and communicate the bigger picture effectively

Qualifications

Work towards completion of a professional actuarial or risk qualification not essential but helpful. Future training and support towards a relevant qualification will be considered.

Experience Level: Experienced Colleague

Recruiter: Helen Simons

What we offer:

As a savings and Investments firm 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 - 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 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 - as supporting families is a core aspect of our inclusive culture.
Health & Protection cover including Private Healthcare Critical Illness cover and Life Assurance for you with family options - for peace of mind.