Non-Financial Risk 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.

The Role:

The M&G Group (MGG) Non-Financial Risk (NFR) Second Line of Defence team supports the Asset Management business in conducting its non-financial risk management responsibilities. It is also our responsibility to collaborate with M&G plc Central Non-Financial Risk Second Line of Defence department in the provision and maintenance of frameworks, policies, taxonomies, approaches and systems that are appropriate for Asset Management.

Our team’s responsibilities range from advisory, monitoring and assurance technical support and reviews. We provide ongoing advisory and collaboration support to our M&G plc Central NFR colleagues to provide appropriate risk frameworks for Asset Management in compliance with regulatory requirements. M&G Group (Asset Management) face off to several regulators such as the Financial Conduct Authority (FCA), Commission de Surveillance du Secteur Financier (CSSF) and Monetary Authority of Singapore (MAS) to name a few.

We also provide ongoing technical advisory support to M&G Group First Line of Defence in implementing and embedding the risk frameworks. We monitor risk management results continuously such as risks, issues, incidents, metrics, controls and other relevant data. We embed ourselves into the key Committees, Forums and discussions within the business to adequately support first line of defence on a continuous basis such as change and transformation programmes, strategic and business management discussions. We conduct a range of assurance reviews such as Risk and Control Self-Assessment, change governance, end-to-end process reviews, strategic plan reviews, issues, incidents, metrics, remedial activities and other reviews. These support us in providing senior management – such as Boards and Risk Committees - with appropriate Second Line of Defence views and opinions of the overall risk profile of the Asset Management business.

Through these activities, our core focus is to be an impactful business partner to both M&G plc Central NFR and Asset Management business areas.

Our team has reached a critical point in maturing our MGG Non-Financial Risk business operating model to continue to be an impactful business partner for which we need help with over the course of 2027. We are looking for an experienced colleague / analyst who can support us in the below 3 activities in 2027:

• Non-Financial Risk Second Line of Defence Processes and Controls: Our team have matured many of our practices across advisory, monitoring and assurance to support the M&G Group (Asset Management) business area. It is important that we update our methodologies, processes and controls to reflect our approaches taken to ensure consistency and robustness on a forward-looking basis.
• Local risk heatmap buildouts: M&G plc Central NFR have enhanced its approach to develop entity level risk heatmaps. To test this approach the M&G plc, M&G Group entity and Life entity risk heatmaps were developed in 2026. We will continue this build out for the subsidiaries of M&G Group that require it, such as Luxembourg, Asia Pacific, US, UK, etc.
• Risk monitoring and trend analysis: The MGG NFR team relies on the analysis of significant datasets to view global / consolidated and entity-level risk profiles, issues, incidents, controls, metrics, trend analysis, root cause analysis and other core analytics and trend analysis. This informs how we identify where to provide business partnering support for both advisory and assurance-related activities. It also supports our Committee reports and informs our senior management engagement responsibilities as attendees to core business strategic and management meetings. To date, we utilise a mixture of automated and manually created metrics. To support the full maturing of our NFR business partnering model, we would like to fully automate these activities.
• Other projects: This role will work in collaboration with 2 other fixed term contractor / secondment roles with similar projects underway that are integrated to these projects (e.g. build out of Risk Appetite Frameworks, committee reporting structures, etc.). Therefore, continuous engagement with the other projects and support if these project are completed early will also fall in scope of this role.   

This is a great opportunity for an individual to experience career growth in understanding our global Non-Financial Risk operating model, obtain exposure to local entities facing off to different regulators and operating setups within Asset Management as well as support the automation of important risk monitoring and trend analysis responsibilities.

Key Responsibilities for this Role:

• Support the documentation of our Non-Financial Risk Second Line of Defence Operating Model enhancements through the documentation / updates in our methodologies, processes and controls.
• Support the development of appropriate entity-level risk heatmaps utilising the enhanced approached developed by M&G plc Central NFR.
• Support the automation of risk monitoring and trend analysis.

Key Knowledge, Skills & Experience:

• Good working knowledge of risk methodologies, processes and controls (required).
• Good working knowledge of risk heatmaps (4 x 4 grid / likelihood and impact heatmaps) across both quantitative and qualitative impact ranges (required).
• Good working knowledge of risk monitoring and trend analysis automation. Specifically working with risk and control management systems such as MetricStream and tools automating business intelligence and data visualizations such as Power BI (required).
• Working knowledge of sound industry risk management practices across frameworks, policies, taxonomies, risk appetites, risk and control self-assessments, issues, controls and incidents management.
• Business degree / professional qualification in risk management or equivalent.

Location: London / Edinburgh / Stirling

Job Level: Experienced colleague / Analyst

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]