Head of Retail Annuity Pricing

M&G Plc; Stirling; Hybrid; GBP 125,000 - 150,000; Full time

Job summary

A financial services company is seeking a Head of Retail Annuity Pricing to lead innovative product launches and manage pricing frameworks. This role is crucial in aligning pricing strategies with business objectives. The ideal candidate will be a qualified actuary with extensive experience in retail annuity pricing, strong analytical skills, and a customer-focused approach. Opportunities for flexible working and competitive benefits are available.

Benefits

Competitive pension scheme

38 days annual leave

Inspiring Families policy

Health & Protection cover

Qualifications

• Extensive experience in pricing retail annuity propositions.
• Excellent communication skills to convey technical information.
• Proven ability to lead cross-functional teams.

Responsibilities

• Define pricing methodologies to support annuity launches.
• Develop active pricing processes post-launch.
• Monitor economic factors and competitor pricing.

Skills

Pricing retail annuity propositions

Stakeholder management

Customer-centric mindset

Commercial drive

Analytical and problem-solving

Education

Qualified actuary

Job description

Head of Retail Annuity Pricing – M&G

Join M&G’s responsible retail and life division as the Head of Retail Annuity Pricing. You will spearhead the launch of innovative individual annuity products, design and manage pricing frameworks, and deliver competitive strategies that align with business targets.

M&G has a 175‑year heritage combining asset management and insurance expertise to offer a wide range of savings and investment solutions. Our Retail Annuity Pricing team works across Asset Management and Life to provide balanced, long‑term investment and savings solutions.

Location

The successful candidate will ideally be based in our Edinburgh office. We also consider London or Stirling for hybrid working arrangements.

Key Accountabilities

• Define appropriate pricing methodologies and processes to support the lifetime annuity launch.
• Develop and implement an active pricing process for dynamic and frequent repricing post‑launch to maintain competitiveness.
• Ensure detailed understanding of the current pricing dynamics and landscape for individual annuities.
• Liaise closely with the annuities product development team, the With‑Profits development lead, and the underwriting team to ensure pricing aligns with all relevant proposition features.
• Set and execute the pricing strategy to consistently meet commercial, customer value and competitive position targets.
• Design and implement capability and processes to monitor competitiveness, commercial, and customer outcomes.
• Monitor economic factors (including asset yields) and competitor pricing activity.
• Guide and develop a team of actuaries to ensure professional growth and project success.

Knowledge

• Deep understanding of UK life insurance products and annuity concepts, with both technical and commercial knowledge.
• Excellent knowledge of annuity products, services and distribution methods.
• Thorough familiarity with regulatory requirements and compliance standards in the insurance industry.
• Significant experience with data and trend analysis and statistical techniques to develop compelling pricing strategies.

Skills and Experience

• Qualified actuary with extensive experience pricing retail annuity propositions (fixed‑term and lifetime annuities).
• Excellent stakeholder management and communication skills to convey technical information to diverse stakeholders.
• Customer‑centric mindset and a genuine passion for putting the customer at the heart of decision‑making.
• Commercial drive – strong desire to win in the highly competitive individual annuity market through market‑leading rates while meeting commercial targets.
• Proven ability to lead and collaborate with cross‑functional teams, including finance, propositions, distribution, and product development.
• Strong analytical and problem‑solving skills, with the ability to interpret complex data and make informed decisions.
• Self‑starter, results‑focused, and able to respond rapidly to urgent priorities.

Job Level: Manager Expert
Reports to: Director of Individual Annuities

What We Offer

• Competitive pension scheme: 18% total cost (13% employer + 5% employee contributions). Share Save and Share Incentive Plan available.
• 38 days annual leave (including bank holidays) with the option to purchase up to 5 extra days and flexible Time Off When You Need It policy.
• Inspiring Families policy offering comprehensive paid parental leave covering maternity, adoption, surrogacy and paternity.
• Health & Protection cover: Private Healthcare, Critical Illness and Life Assurance with family options.

M&G is committed to diversity and inclusion, welcoming applicants of all backgrounds. We are a Disability Confident Leader and encourage applications from candidates with long‑term health conditions, disabilities or neuro‑divergent conditions. Please contact [e-mail] if you need assistance with the application process.