Part VII Contracts Manager - 9 month Fixed Term Contract Part VII Contracts Manager - 9 month Fixed Term  …

M&G plc.
in London, United Kingdom
Permanent, Full time
Be the first to apply
M&G plc.
in London, United Kingdom
Permanent, Full time
Be the first to apply
Part VII Contracts Manager - 9 month Fixed Term Contract
At M&G our vision is: to become the best loved and most successful savings and investment business and we're looking for people who are excited about joining us on our journey. We're digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we're looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.

We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationality, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home working arrangements for any of our roles.

What you can expect from us:
We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:
  • Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
  • Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
  • Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
  • Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

How do we support our employees:
All M&G plc employees will be supported in the workplace through our M&G Employee Assistance Programme (EAP). If you need counselling, confidential financial or legal advice. The service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support.

The Role:
PAC is currently undertaking a Part VII transfer of a large block of annuity business to another insurance company. The Part VII Transfer Project Manager will support the Business Lead with the technical requirements for the current Part VII transfer as part of the Laker programme.

This is a 9 month secondment opportunity which will begin remote and then can be based between working from home and our London office.

Key Work Level Accountabilities:
  • For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise
  • Applies judgement to deliver outcomes, evaluating a range of potential solutions
  • Manages conflicts that may impact delivery
  • Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture
  • Identifies and anticipates need for changes to continuously improve quality and efficiency of output
  • Manages resources and risks using expert judgment, know-how and experience

Key Responsibilities for this role
This role will support the Business Lead in a number of technical areas, including:
  • Managing the activity required to ensure the smooth transition of a number of longevity swaps from PAC to the partner, monitoring and coordinating activity between the parties (including the reinsurers) and their respective legal advisers
  • Managing the activity required to enable frequent comparisons of commutation factors between PAC and the partner to be produced
  • Leading the activity required to ensure that additional annuity benefits are included in the scope of the reinsurance prior to the transfer, including the provision of pricing by the partner and the acceptance of that pricing by PAC
  • Supporting response handling, including assisting with the management and production of responses and assisting with the preparation of MI for the regulators, ensuring that the MI is accurate and complete

Key Knowledge, Skills and Experience
  • Experience of managing projects with significant legal and financial change
  • Managed 5+ projects successfully, ideally within a programme or portfolio environment
  • Managed a minimum of 3 projects with a duration of over 6 months
  • Proven track record of working on diverse and ambiguous programmes
  • Experience of working in a Group Head Office would be advantageous
  • Financial Service experience essential, Actuarial background helpful but not essential
  • Annuity business knowledge
  • Experience of Part VII transfers
  • Strong knowledge of potential sources of risk and their impact on project success
  • Highly effective stakeholder management skills including ability to challenge at all levels
  • Quality assurance techniques
  • Advanced Excel

Work Level: Manager/Expert
Recruiter: Emma Pryde
Closing Date: 20th April 2021

We live by four behaviours at M&G and we ask all our employees to:
  • Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
  • Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
  • Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
  • Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things
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