Start Your Next Chapter: UK Junior Product Analyst! 

Start Your Next Chapter: UK Junior Product Analyst!

Are you looking for your next exciting step as a Junior Product Analyst Job Opportunity in the United Kingdom? Then join Union Income Benefit (UIB) in London and help us deliver clear, meaningful product analysis that shapes our insurance offerings for over 2.5 million members nationwide.

About Us

UIB is a trusted UK insurance brokerage, working closely with some of the largest Trade Unions in the country. Since 1999, we have helped our members feel secure with simple, reliable protection, paying out over £45 million in claims to date. We are regulated by the Financial Conduct Authority (FCA) and have held Investors in People status since 2002, demonstrating our strong commitment to staff training and development.

Your Role

As a Junior Product Analyst, you will directly support the Senior Product Analyst in delivering accurate, data-driven insights. These insights, in turn, will guide our pricing, risk management, and overall product strategy. You will analyze performance, build financial models, and contribute to dashboards and reports that keep our products competitive and profitable.

What You’ll Do

Your responsibilities will cover various key areas:

Product & Financial Analysis:

• You will examine product performance, including revenue, claims, loss ratios, and other vital metrics.
• You will maintain financial models to forecast profitability and various scenarios.
• You will build dashboards and create clear reports for the team.
• Furthermore, you will spot trends or issues in product data and escalate them where needed.

Data Management & Reporting:

• You will extract, clean, and validate data from both internal and external sources.
• You will use tools like Excel, SQL, Power BI, or similar for reporting and visualization.
• Additionally, you will monitor data quality and actively resolve discrepancies.
• You will keep files, templates, and documents up to date and accurate.

Regulatory Compliance:

• You will help maintain documentation that meets FCA PROD, Solvency II, and internal standards.
• You will support product assessments, fair value documentation, and regulatory reporting.
• Crucially, you will ensure data is correct and submitted in a timely manner for quarterly returns.

Market Research & Strategy:

• You will research competitor products to compare pricing and positioning.
• You will track industry trends and evolving customer needs.
• Ultimately, you will present your findings to the Senior Product Analyst for strategic planning.

Collaboration:

• You will work closely with colleagues in actuarial, finance, underwriting, and compliance.
• You will join cross-functional meetings and provide essential supporting analysis.
• Moreover, you will help prepare presentations and reports for senior leaders.

What We’re Looking For

We are seeking a candidate who brings:

• A degree in Maths, Economics, Finance, Data Science, or a similar field — alternatively, equivalent practical experience.
• Strong Excel skills, including proficiency with formulas, charts, and pivot tables.
• Knowledge of SQL or other query languages is a definite plus.
• Experience with Power BI, Tableau, or similar reporting tools is a bonus.
• Experience in the insurance industry or an FCA-regulated field is desirable.
• Excellent attention to detail and strong communication skills are essential.
• The ability to effectively balance multiple tasks and meet deadlines.
• A collaborative team player who enjoys working across different departments.

Perks

We offer a rewarding package for our team members:

• Competitive Salary: Expect a salary ranging from £30,000 to £40,000.
• Generous Leave: Enjoy 25 days of annual leave plus all bank holidays.
• Professional Growth: Benefit from ongoing training and development opportunities.
• Work-Life Balance: We emphasize excellent work-life balance for our employees.
• Career Advancement: Discover significant room for professional growth in a respected, regulated company.

Location

Based in the UK, you’ll join us in our London office one day a week. Furthermore, regular travel to Edinburgh and London will be part of this role.

Recruitment Process

Our hiring process is straightforward and transparent:

1. CV Screening: We will review your CV to assess initial suitability.
2. First Interview: A short 10–15 minute Teams interview will be conducted.
3. Second Interview: A full Teams interview with the hiring manager will follow.
4. Final Stage: The final stage involves a face-to-face interview with the hiring manager and a team member.

If you’re ready to grow your skills and make a real impact, apply now and become part of our trusted team! 💙