Job Description

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.

Associate Pricing Actuary

Looking to kick-start or accelerate your actuarial career in a role that blends technical depth with real commercial impact?

At M&G Life, we’re growing—and fast. Our Individual Life & Pensions (IL&P) division is entering an exciting new phase, with major product launches on the horizon including a new Onshore Bond, expansion of our market-leading PruFund proposition, and entry into the Lifetime Annuity market.

To support this ambition, we’re expanding our Pricing team across both Savings and Annuity products—and we’re looking for talented Associate Actuaries (or those on the journey) to join us.

The Opportunity

This is a fantastic opportunity to gain exposure across a broad range of products and pricing challenges in a collaborative, forward-thinking environment.

You’ll play a hands-on role in shaping pricing strategies, supporting new product launches, and building the tools and insights that drive business decisions. You’ll initially join either our Savings or Annuities team, with opportunities to rotate and broaden your experience over time.

What You’ll Be Doing

• Produce new business pricing for Savings and Individual Annuity products
• Own and deliver regular Management Information (MI) to track performance and inform decisions
• Analyse experience and market data, contributing to pricing assumption reviews
• Build and enhance models, improving pricing capability and efficiency
• Support the implementation and testing of calculations within IT systems
• Contribute to the development and launch of new products
• Work closely with teams across Finance, Propositions, Investments, Risk, and external partners

What We’re Looking For

• A student actuary or recent graduate with a strong academic background and a passion for actuarial work
• A commercial mindset, with an interest in how pricing decisions drive customer value and business growth
• Strong analytical and problem-solving skills, with the ability to interpret complex datasets
• Experience with data analysis, trends, and statistical techniques
• Clear and confident communication skills, able to explain technical concepts to non-specialists
• A collaborative approach and eagerness to learn from cross-functional teams
• Proactive and adaptable, comfortable working in a fast-paced environment

Desirable (but not essential):

• Experience in pricing individual life products
• Familiarity with Excel and VBA
• Exposure to Python or other programming tools

Why Join M&G Life?

• Be part of a high-growth business with exciting product launches and strategic expansion
• Gain exposure across both Savings and Annuities, building a well-rounded actuarial skillset
• Work in a team that values innovation, development, and continuous learning
• Enjoy real ownership and visibility, with opportunities to influence key decisions early in your career
• Develop within a supportive environment committed to actuarial study and progression

If you’re looking for a role where your technical skills meet commercial impact—and where you can grow alongside an ambitious, evolving business, apply now!

Job Level: Colleague

Location: Edinburgh

Recruiter: Phoebe Ewers / Tanya Bains

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 ContributionsWe 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