Annuity ALM Manager

M&G plc

Manage inflation risk and enhance ALM strategies for Annuity portfolios at M&G, a leading investment firm. Collaborate with various teams to ensure compliance and develop innovative financial solutions.

Posted 5/8/2026full-timeStirling • 🇬🇧 United KingdomMid-LevelSeniorWebsite

About the role

Key responsibilities & impact

The role will lead and/or support a wide range of activities in shaping and driving forward the Annuity ALM approach.
In the short term this role will focus on supporting the development and rollout of an inflation risk management and delta hedging framework for new business and the back book, working with various subject matter experts and developing increasing ownership over time.
Matching Adjustment - Supporting the Head of Annuity ALM with their responsibilities for ensuring compliance with the Solvency UK requirements particularly with respect to Matching Adjustment (MA).
Supporting the Pension Risk Transfer (PRT) team deliver the new business targets and develop new, innovative products.
This includes providing insight into our current MA approvals and taking a key role in projects to vary our MA permissions with the regulator (PRA).
Discuss complex financial concepts across the business including with non-actuarial colleagues, contribute to product design, and integrate financial solutions into broader business strategies.
Respond to emerging regulatory, balance sheet and stakeholder demands and supporting business-wide initiatives which impact the Annuity portfolios as and when required.
Maintaining strong internal and external networks to assist understanding and delivery, managing internal stakeholders and keeping abreast of market and competitor developments.

Requirements

What you’ll need

Knowledge of, or strong interest in developing expertise in, inflation risk management techniques in liability-driven portfolios, such as delta hedging, dynamic hedging strategies or other ALM-based risk mitigation approaches.
Experience of Matching Adjustment portfolios and / or delta-hedging inflation risk management in liability-driven contexts is desirable. However, candidates with related experience from adjacent areas (such as ALM, liability driven investment, capital or financial risk management), and the motivation to develop MA specific expertise will be considered.
An ability to think clearly and simplify complex financial situations into simple messages and proposals.
Experience of effectively communicating and influencing on complex issues to a wide range of stakeholders.
An ability to quickly understand the financial dynamics of a business and the key factors that impact different financial measures.
A willingness and ability to build new technical capability through self-directed learning, research and collaboration with colleagues, in areas where the team’s approach is still evolving.
The role is well-suited to someone who is comfortable operating in areas where methodologies are still being developed and who is motivated to help define good practice, rather than applying an existing playbook.
Excellent written and verbal communication skills including drafting Board and committee papers.
Strong delivery focus and attitude with ability to manage against complex stakeholder requirements and short timescales when required.
An actuarial qualification is desirable, however, strong candidates who are not qualified but have relevant experience in ALM, hedging, risk management, capital or liability driven investment and who are willing to develop the necessary actuarial and regulatory knowledge will be considered.
Experience of proactively managing and progressing multiple work items concurrently.

Benefits

Comp & perks

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.

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Hard Skills & Tools

inflation risk managementdelta hedgingdynamic hedging strategiesMatching Adjustmentliability-driven investmentcapital risk managementfinancial risk managementALM-based risk mitigationproduct designfinancial solutions integration

Soft Skills

communicationinfluencingsimplifying complex financial situationsstakeholder managementself-directed learningcollaborationdelivery focusability to manage multiple work itemsadaptabilityproblem-solving

Certifications

actuarial qualification