Job Introduction

Are you an experienced actuarial professional with a passion for capital and risk management? Join the team at MPS, the world’s leading Medical Defence Organisation, and be part of a transformative journey that will shape the future of the capital function.

At MPS we have a vision to cultivate a culture of risk and capital awareness across the organisation. We believe that decision-making should be driven by capital considerations, maximising the value of the capital model outputs. By joining us, you will play a crucial role in informing business decisions, ensuring they are economically sound and in the best interest of our members.

Our mission is to enhance the capital function – and we need your expertise to help us achieve it! To drive this transformative change, we are seeking a Capital Actuary and a Capital Actuarial Analyst. When you join us, you will have a direct impact on capital modelling and the investment, pricing and reinsurance decision-making processes. Utilising your valued expertise, you will educate the wider business on the importance of capital in decision-making, accelerating our progress and enabling us to realise our mission.

This is a unique opportunity to make a difference without the constraints of working in a regulated environment as MPS are not an insurance company, and all benefits of MPS membership are discretionary. So, if you are someone who connects with our values, embraces change and is hungry to get involved and make a difference, apply now to join our growing team.

At MPS, we are committed to helping you achieve both your professional and academic goals, so you will receive full study support (as described in the benefits package) and be a part of a supportive, experienced team who are on hand to share their knowledge and experience with you along the way.

Role Responsibility

• Support the delivery of capital assessments for the MPS discretionary business. This will include setting assumptions, carrying out validation activities and seeking to continually improve the capital model.
• Work closely with other colleagues in the actuarial team to deliver analysis and insight to support decision-making across MPS. This will include working with capital colleagues, underwriters, pricing and reserving, financial planning, risk management, claims and reinsurance.
• Ensure that key processes and assumptions are adequately documented, and that the quality of data used in the actuarial processes is of the highest standard and reconciles to source data.
• Provide actuarial and capital advice and support to internal and external stakeholders, as required.
• Support the continued evolution of embedding capital in decision making at MPS.

The Ideal Candidate

We are looking for either:

• A senior student actuary who is making good progress in your goal towards becoming a Fellow of the Institute and Faculty of Actuaries or;
• An individual with equivalent work experience, gained in a general insurance environment, with applicable skills that you can transfer to this exciting role. This could include individuals from a statistics background or someone who has decided to stop sitting actuarial exams. 

We are open minded and keen to secure candidates with a great aptitude for this role, whatever their background.

Ideally, we are looking for someone with some experience in capital modelling and/or Lloyds of London exposure.

You are an experienced excel user with high attention to detail and a keenness for problem solving. You have the ability to quickly learn and adapt to the appropriate tools which enable data extraction, manipulation and report generation. You are confident and comfortable in presenting the data, analysis and conclusions and can do this clearly both verbally and in writing.

An added bonus would be having knowledge of SQL, R or Python and, we use ReMetrica as the platform for our capital model, so having experience using this would be the cherry on top!

We welcome applicants from all backgrounds, and we encourage you to apply even if you feel you do not match 100% of the technical requirements. We celebrate diversity, promote inclusivity and strive to create a work environment which ensures everyone can be heard.

Package Description

• Up to 10% discretionary annual bonus
• 11% pension contribution (3% from you, 8% from us optional additional matched 3% contributions, e.g. 6% from you, 11% from us)
• 25 days annual leave plus flexible bank holidays (option to buy/sell 5 days)
• Private Medical Cover
• Healthcare cash plan
• 6x salary death in service
• Paid volunteering day
• A personal GP service enabling you to get a video consultation with an NHS-registered, private GP
• Employee Assistance Programme
• A range of shopping discounts from major high-street retailers

MPS’s Actuarial Development Scheme provides a study package for the UK actuarial exams which includes up to 40 days leave per annum and reimbursement for exams, tutorials and study materials. These benefits are subject to meeting the exam progression and work performance requirements of the scheme.

At MPS, we are committed to fostering a diverse and inclusive workforce, and therefore welcome applications from individuals who may benefit from flexible working arrangements. We know flexibility is important to people and at MPS we want you to have the best work-life balance possible.

About the Company

The Medical Protection Society Ltd (MPS) is the worlds leading protection organisation for Doctors, Dentists and healthcare professionals. We protect and support the professional interests of almost 300,000 members around the world.

We are a not-for-profit organisation, meaning our members subscriptions are either invested into bettering the organisation, our employees and our products, or kept safe should our members require support for complaints or claims arising from professional practice.

Our philosophy is to support safe practice in medicine and dentistry by helping to avert problems in the first place. We also actively campaign for regulatory and legal reforms that benefit members and the wider healthcare professions.

To do this, we need colleagues who are trusted and supported to deliver their best work, whether that be through leadership development, fully-funded training courses or peer-to-peer support. We want colleagues to feel empowered to deliver positive change, display ambition to push themselves and be determined when faced with a challenge, whilst ensuring our members best interests are at the core.

Medical Protection Society