Job Introduction

MPS, the world’s leading Medical Defence Organisation are currently recruiting for a Reserving Actuarial Analyst to sit within the reserving function. So, if you’re an actuarial student with significant experience of reserving, then why not join the team and be an integral part of a transformative journey that will shape the future of reserving within MPS.

At MPS we have a vision for the reserving function to become a key provider of analytical insights across the organisation. We believe that the reserving team should be well placed to provide these insights in addition to the core requirement to estimate the reserves required to be held in the financial statements. By joining us, you will play a crucial role in developing existing processes to better inform business decisions, ensuring these are in the best interest of our members.

When you join us, you will have a direct impact on enhancing the reserving process. 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 team.

Role Responsibility

• Support the delivery of reserving reviews for the MPS discretionary business. This will include undertaking analysis, setting assumptions, and documenting and explaining key drivers of movements.
• Play a key role in transforming the existing process to improve robustness, efficiency, transparency, and accuracy and enable it to evolve to become a key part of decision making at MPS.
• 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 reserving colleagues and the pricing, claims, finance, and capital teams.
• 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 reserving advice and support to internal and external stakeholders, as required.

The Ideal Candidate

We need someone who can make an immediate impact and help the existing team deliver their objectives. Therefore, the ideal candidate will:

• Be a senior student actuary who is making excellent progress towards becoming a Fellow of the Institute and Faculty of Actuaries.
• Possess significant reserving experience, whether this has been gained within a personal or commercial lines company or a consultancy. 
• Have excellent Excel skills, and ideally a good knowledge of both VBA (within Excel) and SQL (including interacting with Excel).
• Demonstrate a high level of attention to detail and an ability for problem solving and be capable of learning quickly and adapting to the appropriate tools.
• Be confident and comfortable in presenting the data, analysis and conclusions and can do this clearly both verbally and in writing.

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 15% 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

At MPS, we are committed to helping you achieve both your professional and academic goals, so you will receive full study support and be a part of a team who are on hand to share their knowledge and experience with you along the way. The study package for the UK actuarial exams 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 (MPS) is the world’s 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’ premiums 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 our colleagues to feel empowered to deliver positive change, display ambition to push themselves and be determined when faced with a challenge, whilst ensuring our Member’s best interests are at the core.

Medical Protection Society