Job Introduction

MPS is seeking a Senior Actuarial Analyst with a specialism in non-life insurance to join a growing Actuarial team.

The successful candidate will play a key role in the delivery of the annual capital assessment and implementing capital model developments. There will also be the opportunity to contribute towards strategic projects including the evolution of our Lloyd's vehicle.

Role Responsibility

• Support the delivery of the annual capital assessment for MPS discretionary business which includes:
  • Delivering a Capital Report explaining results, key movements and key assumptions
  • Performing model validation and delivering a validation report to relevant committees
  • Communication of results, key assumptions and uncertainties to relevant committees
  • Compliance with all appropriate governance (particularly the Capital Modelling Policy and Technical Actuarial Standards)
• Identify and implement model changes as required in line with the Capital Modelling Policy
• Assist with the capital modelling element of MPS projects as identified by the Head of Actuarial
• Support capital modelling work for SPA 1892
• Maintain model documentation and write new documentation as required
• Stay abreast of best practice to ensure that all actuarial work is of the highest standard and improve the use and understanding of actuarial analysis within MPS

The Ideal Candidate

• Advanced knowledge of capital modelling
• Experience of building and running capital models for a non-life insurer using specialist software (preferably ReMetrica)
• Experience of model validation, parameterising capital models and actuarial report writing
• Excellent Excel skills
• Excellent communication skills including the ability to explain complex concepts clearly both in presentations and actuarial reports
• Experience of training and managing the workload of junior staff members
• An interest in process improvement (eg automation)
• Either recently qualified or making good progress towards qualification as a Fellow of the Institute and Faculty of Actuaries

Due to the urgency of this role we may commence interviews prior to the closing date so please submit your application as soon as possible.

Package Description

Up to 21% pension

Annual bonus scheme

Private Medical Insurance

Health Care Cash Plan

25 days annual leave, plus bank holidays

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.

About the Company

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 more than 300,000 members around the world, in countries as diverse as the United Kingdom, South Africa and Hong Kong.
We strive to be much more than a last line of defence by being at our members’ side at every step, offering support, advice and world-class defence. Membership provides access to expert advice and support together with the right to request indemnity for complaints or claims arising from professional practice.
We continue to invest in our team to ensure that we are delivering the best possible service for members. This was recognised in 2016 when we were awarded an Investors in People Silver award.

Medical Protection Society