Group Head of Market Risk

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At M&G our purpose is to give everyone real confidence to put their money to work. As an international savings and investments business with roots stretching back more than 170 years, we offer a range of financial products and services through Asset Management, Life and Wealth. All three operating segments work together to deliver attractive financial outcomes for our clients, and superior shareholder returns.

Through our behaviours of 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.

The Role:

The Group Head of Market Risk will drive a sound understanding and monitoring of the market risks to which the Group is exposed, own the overall framework within which those risks are taken, and support the Group in implementing associated risk management strategies. They will also bring an outside in perspective of emerging risk themes.

The ideal candidate will have extensive experience of operating in financial markets and managing financial market risk (especially credit risk), and ideally an understanding of Insurance company balance sheets and the Solvency II regulations within which they operate.

The role will sit in M&G plc's Finance function, reporting to the Life CFO who also has Group responsibility for capital management. They will work closely with our Shareholder Financial Strategy, Treasury and Investment Office (T&IO), and second line Risk teams. The candidate will be expected to engage with senior stakeholder groups, including the Group and subsidiary Executives and Boards.

Key Responsibilities for this role:

1. Drive a deep understanding of the market risk the Group is exposed to across all businesses, through capital and liquidity lenses.
2. Bring an "outside in" view of market risk including forward looking horizon scanning.
3. Own the Group Market Risk Appetites and associated policies. Work with the Group Capital Management team to incorporate market risk into the Group's overarching risk appetite framework.
4. Bring together and enhance MI around market risk and relevant risk appetites / EWIs to enable relevant stakeholders (including Group Executive Committee and Board), and appropriately monitor exposures and drive corrective strategies where necessary.
5. Work with the Group Capital Management team and T&IO to develop hedging and other strategies to manage market risk within risk appetite, strategically and tactically as appropriate.
6. Advise and assist the Group and Business Unit CFOs (and associated reporting teams) on aspects of asset valuation approaches (particularly around Level 3 or other hard to value assets), and assist in oversight of the methodologies and models used by providers of such valuations.

Key Knowledge, Skills & Experience:

1. Broad and extensive experience of operating in financial markets.
2. Deep understanding of financial market risk - particularly credit risk - is essential.
3. Excellent understanding of market risk management frameworks in a financial services industry context.
4. Good knowledge of asset valuation methodologies and concepts, especially around private credit.
5. Good working knowledge of Solvency II and its approach to market risk within a Life insurance context.
6. Excellent communication skills, with experience of stakeholder management at a senior level. Able to distil complex information into decision-useful analysis. Confident in presenting to senior stakeholders including at Exec Committee and Board levels.
7. Highly collaborative - able to work constructively across different teams.
8. Able to self-direct in identifying potential issues, analysing them and communicating conclusions.

Work Level: Integration Leader

Closing Date: 25th October 2024