Senior Actuary With-profits - Stirling, United Kingdom - eFinancialCareers

eFinancialCareers

Verified Company

Stirling, United Kingdom

3 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

At M&G our purpose is
to help people manage and grow their savings and investments, responsibly.

As a business, we are continuing to take steps towards a sustainable future, delivering better long-term solutions for our customers and clientsand identifying new opportunities to make a positive impact for our environment and communities.
To help us achieve our vision we're looking for exceptional people who live our values of care and integrity and who can inspire others; embrace change; deliverresults and keep it simple.

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 with-profits management team serves the following purposes:
The team providing expert with-profits knowledge to inform key business decisions, delivered through a comprehensive understanding of the investment strategy, bonus policy, capital and expense drivers and profitability of the with-profits business Reviewingand challenging of initiatives and changes proposed by the business to the extent they impact the with-profits funds and policyholders Enabling the statutory role of the With-Profits Actuary to be fulfilled in connection to the With-Profits business, witha view to safeguarding policyholders' interest and ensuring they are treated fairly

In order to discharge its responsibilities in an efficient manner, the with-profits management team is moving to operating as a series of networked teams, clustering individuals in a fluid fashion to address specific pieces of work, although the main prioritiesfor each individual will be specified in their objectives.

In the above context the Senior Actuary (with-profits) is expected to be proactive and a self-starter, proposing solutions to complex problems and able to move easily across multiple stakeholders within finance, risk and other business areas as appropriate.

The individual is expected to demonstrate maturity and be comfortable in managing subordinates and peers as the work requires and in some instances being managed by peers.

The individual must be confident in presenting to Executive level and Board level committees with the appropriate gravitas whilst also be able to effectively manage individuals and peers to meet challenging timelines and multiple priorities.

Purpose statements:

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 UK's operational riskprofile
To provide the appropriate support to the With-Profits Actuary so that he/she can discharge his/her statutory responsibilities. Such support to include inter alia
To support the WPA in providing advice to management, relevant Boards and Committees on the implications for the fair treatment of withprofits policyholders of the company's exercise of discretion relating to setting risk appetite and the overall financialmanagement framework
To undertake the appropriate reviews and documentation to ensure compliance with the statutory requirements
To work closely with the With-Profits Committee, providing input and opinions where required and operational support
To liaise closely with the business where issues which may impact the fair treatment of withprofits policyholders are identified and bring these to a satisfactory resolution
To lead and/or contribute to the sound financial management of the withprofits fund by considering the implications of its financial strength and resilience (both now and projected in the future) and thereby help to drive the fair treatment of withprofitspolicyholders alongside the capital management agenda
To drive the withprofits agenda on behalf of finance, drawing key expertise from across the function to ensure a leadingedge approach
To ensure that policyholder interests are appropriately allowed for

Knowledge statements:

With a particular focus on withprofits business, detailed knowledge of M&G Prudential's:
Products, systems and distribution methods
Assets and investment strategy
Drivers of group wide KPIs
Understanding of the Groupwide standards and operating codes and practices (where relevant to the role)
The PPFM
Expert knowledge of all aspects of withprofits business including a deep understanding of how conflicts of interest between shareholders and policyholders and between different groups of policyholders can be manifested and how these conflicts can be resolved
Detailed knowledge of life and pensions products, markets and competitors
Detailed knowledge of underlying regulations (Solvency II, COBs)
Detailed knowledge of actuarial profession's standards and codes of conduct

Experience statements:

Significant experience in the financial management of withprofits business including capital management, investment strategy, bonus policy, risk appetite and a clear understanding of how these affect policyholder outcomes and the implications for treatingpolicyholders fairly
Experience in leading actuarial programs where new methodologies, frameworks and concepts are created, deployed and operationalised
Experience in coaching and guiding others in using advanced actuarial principles and methodologies to solve complex or unique problems and in ambiguous or unique situations
Experience in using multiple strategies to gain stakeholder support for change

Personal attribute/skills:

Adept at building strong relationships
Ability to show sound, reasoned, judgement
Ability to anticipate key stakeholders perspectives and appreciate alternative viewpoints when challenged
Ability to work across technical and nontechnical business areas
Ability to assess and react quickly and decisively to problems once identified and to take tough decisions based on well thought through principles where required.
Ability to influence and negotiate at all levels of the organisation, including internal and external
Ability to challenge decisions, setting out clearly the rationale for the challenge and clearly communicating own point of view
Be confident and show gravitasAbility to communicate vision to gain support and