Quantitative Analyst

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.

Quantitative Analyst, Life Investment Office

The Life Investment Office (LIO) is responsible for approximately £159bn of assets, including the UK’s largest £134bn With Profits Fund, delivering multi-asset and annuity solutions on behalf of the Prudential Assurance Company (PAC).

The LIO has deep expertise across asset allocation, manager selection and oversight, strategy design, derivatives and portfolio management. By combining scale, experience and global partnerships, LIO focuses on building resilient, diversified portfolios designed to deliver long-term value for clients.

The role sits within the Stochastic Modelling area in the Quantitative Portfolio Design (QPD) team within LIO. The QPD team is responsible for the development and implementation of the quantitative framework, models and analytics used to set risk budgets, construct reference portfolios and support robust strategic asset allocation decision making across a range of multi-asset portfolios. The Stochastic Modelling sub-team is responsible for the in-house economic scenario generator, which are used in key business processes, including reporting, pricing and supporting the investment decisions for a range of products.

The role will be to support both the risk-neutral and real-world BAU calibrations of the in-house economic scenario generator,  for a range of key processes including Solvency II reporting, EGR setting for PruFund. The role will drive the continued evolution of the model suite, including model design for public and private market assets, while ensuring outputs remain robust, well understood and delivered within an approved governance framework. This role will provide opportunities to contribute across other work streams within the QPD team.

Key Responsibilities

• Deliver the end to end BAU calibration process within the approved methodology and control framework, covering execution, validation, interpretation, issue resolution and results
• Research and evaluate enhancements from academic, market and industry sources for the models
• Develop and implement model changes across design, calibration, assumptions and limitations
• Validate model outputs, ensuring they are explainable, robust and fit for business use
• Build and maintain analytical tools that support model production, validation and diagnostics, applying good development practices and controls
• Produce clear, documentation covering methodology, assumptions, model changes and validation evidence, in line with internal policies and committee expectations
• Contribute to knowledge sharing and good modelling practice across the team

Key Knowledge, Skills & Experience

• A relevant quantitative degree, for example in mathematics, statistics, financial engineering, or a related discipline
• Knowledge of stochastic asset return modelling techniques, including distributional assumptions, time-series modelling, volatility dynamics and tail risk
• A research mindset, with the ability to review academic, market and industry approaches, assess their applicability and translate suitable ideas into practical model improvements
• Strong programming skills, particularly in Python and Excel/VBA, applied to model development, analysis and validation
• Clear communicator, able to explain complex outputs and produce structured documentation for technical and governance audiences
• Attention to detail and ability to deliver within structured timelines and control requirements

Work Level: Manager / Expert

Location: London

Recruiter: Amy 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: [email protected]