This Job Vacancy has Expired!

Head of Risk Modelling

Posted on Jan 24, 2019 by Prudential UK & Europe

London, London United Kingdom
Immediate Start
Annual Salary


Working with M&G Prudential as the Head of Risk Modelling means becoming part of a brand with a global reputation and an exciting vision: to become the best loved and most successful savings & investments business.

The forthcoming planned de-merger of M&G Prudential from the Prudential Group PLC provides a terrific opportunity to create a truly international and integrated savings and investments firm. A firm built on a rich and long history and with a commitment to an innovative future centred on the needs of customers and clients. There is a genuine opportunity to drive competitive advantage with value creation through the formation of this new organisation.

If you're inspired to join us, and have the necessary qualities, then this could be the opportunity you've been looking for.

We are expanding our team within M&G Prudential as a result of the de-merger from the Prudential Group PLC.

As the Head of Risk Modelling, you and your wider team will be responsible for:

  • The annual calibration of market and operational risks, as well as the dependency structure between risks, which includes collecting data, refreshing analyses, understanding changes, rationalising judgements and presentation to senior stakeholders.

  • Undertake on-going development to the methodology and tools which underpin the calibration. This involves research and implementation of enhancements, with associated testing and communication. The implementation of new risk models requires interaction with the Head of Internal Capital Model (ICM) systems and the IT developers who own the underlying engine, as well as the users who run the tools.

  • The production of monthly market data packs, with responsibility for delivering accurate and timely reports to end users across M&G Prudential.

  • The annual refresh of Group-wide Operating Standards for the production of Solvency II regulatory capital, including ensuring these keep up to date with change in the regulatory environment.

  • Review and sign-off of Risk Scenario Generator files which will be used for external disclosure.

Your responsibilities:

  • Manage teams consisting of actuaries and quantitative specialists.

  • Understand and be able to communicate complex technical problems from several angles.

  • Implement novel technical solutions that are pragmatic so they fit within the business's needs and produce analysis to support solutions.

  • Ensure that work is accurate and delivered in a timely fashion.

  • Be confident in explaining results to senior management.

  • Document and communicate technical concepts in a way that is clear and concise.

You will have:

  • Excellent understanding of financial markets and modelling methods applied to them

  • Strong communication skills, both written and verbal

  • Significant experience of specifying building or using capital models

  • Strong technical skills (e.g. VBA knowledge, Matlab) and ability to lead the development of efficient tools

  • Good understanding of statistics and statistical methods

  • Significant experience of communicating vision to gain support, motivate others, and build a sense of shared purpose

  • Significant experience of using knowledge of the external environment to shape thinking internally

  • Significant experience of acting as a trusted advisor to the business, utilising subject matter expertise to interpret complex recommendations, considering cause and effect, drawing conclusions and recommending solutions

  • Significant experience of identifying and anticipating potential concerns for key stakeholders and using multiple strategies and methods to gain support for change

  • Significant experience of coaching and guiding others

  • Experience of leading a team, building, organising and providing leadership

  • Experience of constructing and rolling out cross-divisional initiatives


People who work at M&G Prudential agree that ours is a great place to work with a brilliant team spirit. It's also an innovative, high-performing, commercial environment that's totally focused on customers. As an M&G Prudential colleague you'll get all the support you'd expect, including full training and professional development. You'll receive a competitive salary and reward package. And in a fast-changing world, you'll join an organisation that's leading the way in helping customers achieve their long-term financial goals.

M&G Prudential is committed to a diverse and inclusive workplace. Our role as an employer is very simple - to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences.

We welcome applications from individuals who have taken an extended career break, and we are willing to consider flexible working arrangements for all of our roles.

Recruiter: Greg Modlin

Location: London / Stirling

Closing Date: 18 January 2019

Reference: 629609026