Job Introduction

Are you an innovative pricing expert eager to take on a dynamic role that drives sustainable growth through precise pricing strategies? Your next career move awaits! We are in search of a talented Senior Pricing Analyst for our UK and Ireland segments to become a valued member of our Pricing and Data Science team. In this role, you will play a crucial part in fostering operational excellence, financial stability, and exceptional member satisfaction.

As a Senior Pricing Analyst, we will look to your analytical technical expertise and in-depth industry/segment knowledge supported by your proficiency in market leading tools to deliver innovative and actionable pricing solutions that consider member and commercial outcomes. This is to ensure that MPS meets its strategic and annual plans whilst pricing our members fairly.

You will lead the setting of subscriptions for our medical and dental members. Your primary responsibilities will involve designing, developing, and implementing cutting-edge pricing algorithms and the underlying risk differentiation machine learning (GLM) models. We will look to you for lifetime value and price optimisation models. This pivotal role entails making strategic, data-driven pricing decisions that align with our commitment to excellence and future growth. Your contributions will be key in ensuring long-term prosperity and financial resilience for MPS.

You will be an instrumental player driving best-in-class pricing decisions for the UK and Ireland portfolio. You will keep a keen eye on key performance   to identify pockets of over and under-performance, driving appropriate pricing analyses which will guide the team towards informed pricing strategies that support our overarching divisional goals. We are looking for a resilient individual who can work collaboratively with senior stakeholders, contribute positively and effectively to change, and lead on projects. You will advocate actionable data driven pricing solutions to Pricing and Data Science Manager, Head of Pricing, Underwriting and Insurance, Segment Planning Committee, and Executive Committee and secure stakeholder their buy in.

We’re looking for someone who’s passionate about pricing and Data Science. This is a chance to showcase your skills by introducing innovative and impactful pricing techniques that will shape the future pricing scene at MPS. You will have the opportunity and support to significantly impact the profitability of the segments under your care. Rather than just following the crowd, you'll be influencing strategy implementation, leading the charge towards success in this crucial area. You will have the opportunity to work alongside two experienced Senior Pricing Analysts already in the team with the support of Pricing Analysts and Data Science Analysts.

Role Responsibility

• Design, develop, and implement market leading pricing models/algorithms and strategies.
• Leading and signing off regular analysis to set subscriptions appropriately & accurately across assigned MPS segments business.
• Collaborating with Pricing Systems Developers in the team, Business Change partners and external stakeholders to ensure the timely implementation, rigorous testing, and seamless updating of pricing coefficients and/or algorithms to ensure they harmonise with ratified pricing decisions and control frameworks.
• Carrying out regular, detailed portfolio monitoring to identify pockets of over and under performance from which to drive appropriate pricing strategies.
• Leading and signing off the creation, cleansing, validating, and reconciliation of membership and claims datasets for model development, subscriptions setting and MI suite.
• Provide peer review - supporting, coaching, mentoring, and sharing of skills and expertise within the team.
• Present actionable data driven pricing solutions to relevant committee(s).
• Collaborating with other stakeholders within the division (Underwriting, Product & Proposition) and the wider business (Business Development and Engagement, Marketing, Direct Sales & Services) to ensure that segment priorities are aligned.

The Ideal Candidate

The ideal candidate for the Senior Pricing Analyst (UK and Ireland) role will bring a diverse skill set and background. If you have sharp analytical and problem-solving abilities, and the capability to swiftly pinpoint performance trends within complex portfolios, you're on the right track.

A practical business acumen is crucial, backed with an ability to manipulate numbers and data with ease. You will be qualified to bachelor’s or master’s degree level in disciplines like Data Science, Mathematics, Statistics, Computer Science, Operational Research, or any other STEM qualifications. These qualifications should enable you to identify, carry out and interpret analyses at the level required to succeed in this role.

While familiarity with existing methodologies is important, we value bold innovators who can pioneer new pricing approaches from scratch. You will have experience in developing, maintaining, and implementing machine learning models such as generalised linear models (GLM). Experience/knowledge of lifetime value modelling and price optimisation will set apart.

To excel (pun intended) in this role, you'll at least need to be proficient in Microsoft Excel. However, in order to develop the required predictive models, you will also need expertise in coding languages such as Python, R, for data manipulation, analysis, and modelling as well as machine learning techniques and libraries (e.g scikit-learn, TensorFlow, PyTorch). You will also need familiarity with data visualization tools (e.g., Matplotlib, ggplot2). Familiarity with Visual Studio Code, jupyter notebooks, and Git will be an added advantage.

In addition to your quantitative and technical skills, you'll be a confident communicator with solid presentation skills. This will enable you to translate complex technical insights into actionable pricing solutions and tell a compelling ‘story’ to a variety of stakeholders in a way they understand in order to secure their buy in. You'll be a pro at internal stakeholder management and relationship building, possessing the skills and finesse needed to make sure everyone is heard and understood.

In this senior analyst position, leadership qualities are key. You'll be a mentor and guide for junior team members, so strong leadership abilities are essential for nurturing and empowering colleagues to reach their full potential.

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
• Career development and progression opportunities – 22% of our vacancies in 2023 were filled internally
• A truly flexible hybrid-working arrangement (take a look at below to find out more about how we work)
• A culture that promotes inclusivity, wellbeing and rewards hard work
• Paid volunteering day
• Car Salary Sacrifice scheme
• Healthcare cash plan
• 6x salary death in service
• A personal GP service enabling you to get a video consultation with a NHS-registered private GP
• Employee Assistance Programme
• A range of shopping discounts from major high-street retailers

About the Company

The Medical Protection Society Ltd (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 member’s subscriptions are either invested into bettering the organisation, colleagues and products, or kept safe should 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 members best interests are at the core.

Medical Protection Society