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Junior Risk Analyst
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 also offer work place accommodations to ensure you have what you need to effectively deliver in your role.
The Solvency II Enterprise Risk Management Team sits within the M&G plc Risk and Compliance function who are responsible for:
assisting the Board to formulate, implement and monitor adherence to the Risk Management Framework;
reviewing, assessing and challenging the actions taken by first line of defence to manage, mitigate and control risks; and
providing the Board with an aggregate view of M&G plc’s risk profile and supporting them in identifying and assessing key and emerging risks.
The team primarily operates across the Life business however some Group processes owned by the team also consider the wider Asset Management and Group functions. The team is responsible for a number of Solvency II enterprise-wide risk management processes, reporting into Boards and Committees.
The role provides an excellent opportunity to gain experience in a Risk function and consider risk holistically to support M&G’s growth plans. The role will interact with a wide range of stakeholders to aggregate risk-based information and communicate it effectively to Boards and Committees. The role is reliant on collaborating with the first, second and third lines of defence to collate, challenge and present information in relation to the Group’s enterprise risk management processes.
The processes that the team manages run across the year and include annual reporting, maintaining compliance with the Solvency II Pillar II requirements, risk identification including analysis of emerging risks, collation of the Own Risk and Solvency Assessment (ORSA) Report and calculation of the operational risk capital requirements.
The risk analyst role combines ownership of key team deliverables with supporting senior members of the team in completing larger more complex processes. The role provides opportunities to interact with senior management including producing board papers and presenting these at committees.
The team’s work is primarily based around the Solvency II requirements however an in depth knowledge of the Solvency II regulations is not necessary as long as the successful candidate has relevant experience and is enthusiastic with a desire to learn. The team is looking for someone with an analytic mindset and proactive attitude who is able to work independently and has the ability to communicate effectively to build relationships with a variety of different stakeholders.
The role would be best suited to a partially qualified actuarial student, a recent graduate with a relevant actuarial, risk or finance based degree or someone with existing Finance or Risk experience looking to work in Solvency II or risk management.
Key accountabilities for this role
Ownership of the Management Information report for the Internal Model Governance Oversight Committee and supporting processes such as maintenance of the documentation inventory.
Support the coordination and production of regulatory disclosure documents, including the Solvency and Financial Condition Reports, ORSA Report and Annual Reporting Accounts.
Maintain Group-wide Operating Standards and monitor compliance with the Solvency II Pillar II regulatory requirements including compliance attestations.
Support the team in identifying risk including monitoring emerging risks and identifying new risks associated with the Life business’ growth agenda.
Support the team in analysing risks and assessing the resilience of the Group through stress and scenario testing requirements and reporting.
Support the assessment process for determining the operational risk capital requirements including coordinating and taking part in workshops with subject matter experts from across the business.
Support the team’s 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, we’re 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.
If you need assistance or an alternative means of applying for a role due to a disability or additional need, please let us know by contacting us at: careers@mandg.com