Senior Climate Risk Analyst - 24 Month Fixed Term Contract
IT
London, UK
At 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 offer workplace adjustments to ensure you have the support you need to succeed in your role.
The Role
This role sits within M&G Investments’ Stewardship & Sustainability team reporting to the Head of Climate Investment.
The Senior Climate Risk Analyst will work closely with the Head of Climate Investment to develop and implement the firm's climate risk integration with a focus on meeting the requirements of SS5/25. They will be responsible for developing and owning key elements of M&G Investments’ Climate Risk Framework.
Key Responsibilities:
Climate Risk Assessment Framework – Develop and implement M&G Investments' approach to assessing physical and transition risk exposure at individual issuer and asset level. Establish a consistent screening methodology to classify assets by climate risk exposure across listed equity and corporate bonds, with phased extension to other asset classes.
Key Risk Indicator Development & Delivery – Define, calibrate and maintain climate-related KRIs aligned to the business wide Risk Appetite Statement. Develop methodologies linking bottom-up issuer assessments to risk thresholds, limits and management-action triggers. Produce quarterly MI on risk indicators.
Material Risk Assessment – Monitor issuers that have a material impact on the climate risk profile of investment portfolios. Assess and monitor single-issuer, sectoral and geographic concentration risks arising from climate-related exposures.
Scenario Analysis – Develop and implement narrative and quantitative climate scenario analysis, including short-term scenarios and contributions to central case scenario development. Assess impacts on individual issuers, funds and multi-asset allocations. Implement and embed the firm's Principles for Climate Scenario Analysis across relevant workstreams.
Data Product Development & Reporting – Support the development of data products to aggregate issuer-level climate risk assessments. Develop dashboards and reporting tools to surface climate risk metrics for internal and external stakeholders. Coordinate reporting of management information related to M&G Investments' climate risk exposure and progress on its Climate Transition Plan.
Stewardship & Engagement – Work closely with the stewardship team to engage companies on the enhancement of their climate resilience and transition plans. Extend engagement scope to physical climate risks, with priorities informed by material relationship assessments.
Credit Rating Integration – Strengthen the integration of climate risk into internal credit ratings and asset valuation methodologies.
Regulatory & Client Support – Support the firm's compliance with PRA SS5/25 and contribute to ORSA, Climate Transition Plan and UK Sustainability Reporting Standards deliverables. Contribute to client presentations, due diligence processes and thought leadership on climate risk.
Key Knowledge, Skills & Experience
- A minimum of seven years' experience within asset management or financial services, incorporating climate risk analysis into investment processes and frameworks.
- PhD or Master's degree in climate science, environmental science, earth sciences, atmospheric physics or a closely related quantitative discipline (PhD preferred).
- IMC, CFA or CFA ESG qualification desirable.
- Additional qualifications in sustainability, risk management or data science are advantageous
- Comprehensive understanding of climate science and the mechanisms by which it may impact the global economy
- Strong quantitative and analytical skills, with demonstrated ability to analyse large and complex datasets to derive actionable insights for investment decision-making.
- Experience with climate scenario analysis methodologies, including familiarity with NGFS scenarios, integrated assessment models and short-term narrative scenario development.
- Understanding of PRA regulatory requirements for climate risk management (SS5/25, SS3/19) and broader prudential frameworks relevant to UK insurers.
- Familiarity with industry climate disclosure frameworks including TCFD, ISSB/IFRS S2 and the UK Sustainability Reporting Standards.
- Ability to demonstrate how Artificial Intelligence can be applied in workflows to accelerate and scale output
- Proven ability developing a complex workplan and work independently.
- Proven ability to advance projects while working with multiple stakeholders with different need and concerns.
- Ability to research unfamiliar and technical topics and translate findings into investment recommendations, policies and positions in the context of insurance investments.
- Comfort in working with and presenting to stakeholders across different functions and knowledge bases.
- Strong verbal and written communication skills. For example, preparation of PowerPoint presentations and briefing notes.
- Proficiency in data analysis tools such as Python, R or SQL for climate data processing, modelling and visualisation is desirable but not essential.
- Experience with ESG and climate data platforms (e.g., Aladdin Climate, MSCI ESG Research, Bloomberg, Trucost, Munich Re or equivalent physical risk data providers).
- Familiarity with geospatial analysis tools and methodologies for physical climate risk assessment at asset or location level.
- Experience with portfolio analytics, including carbon footprinting, temperature alignment metrics, transition pathway analysis and climate value-at-risk.
- Understanding of credit fundamentals, fixed income analysis or equity valuation methodologies and how climate factors interact with financial materiality.
Work Level: Manager or Expert
Recruiter: Hannah Curtis
What we offer:
We’re dedicated to supporting your wellbeing and helping you thrive, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, and financially plan for the future. Our UK benefits include:
- A valuable pension scheme of up to 18% (13% made up of employer contributions and 5% employee contributions).
- Access to our Share Save and Share Incentive Plan, alongside 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 five extra days. Our Time Off When You Need It policy gives you the flexibility - to balance work and personal commitments.
- Our market-leading Inspiring Families policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - because supporting families is an important part of our inclusive culture.
- Health & Protection cover includes Private Healthcare, Critical Illness cover and Life Assurance for you, with additional family options - for peace of mind.
To explore more about life at M&G and our full benefits offering, visit Life at M&G
At M&G we strive to have a diverse workforce and an inclusive culture, underpinned by our policies and employee-led networks that offer networking, support and development opportunities for the diverse communities our colleagues represent. We welcome applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience.
M&G is proud to be Level 3: Disability Confident Leader under the UK Government Disability Confident employer scheme, and we welcome applications from candidates with disabilities and long-term health conditions. If you would like to participate in the initiative, you will have the opportunity to indicate this on your application.
We are committed to providing an inclusive recruitment process. All candidates have the opportunity to request reasonable adjustments when applying. If you need any additional support at any stage, please contact us at: careers@mandg.com