Employment Information
Job Description
We’d all like amazing work to do, and real work-life balance. That’s waiting for you at Sainsbury’s Bank. “Bank by name, Sainsbury’s by nature” is the promise line we stand firmly behind, making sure we follow through on this by always offering value, making it easy and being an ally for our customers. We’re proud to be an equal opportunities employer that champions a diverse and inclusive culture that reflects the diversity of the communities we serve. Because we know it’s by working together, and by bringing new, diverse ideas that creates the best experience for our customers and colleagues. As part of the wider Sainsbury’s Group, being one of the UK’s most trusted brands, it brings our colleagues a wealth of opportunities to fulfil their potential. Here, you can be part of something bigger and help to create a new approach that puts the customer at the heart of everything we do.
Why join us
Joining Sainsbury’s Bank means becoming part of a dynamic and innovative organisation that values growth, collaboration, and excellence in the insurance industry. As a Pricing Analyst, you will have the opportunity to work with cutting-edge technology and data science techniques to shape and optimise the pricing strategies for our insurance products. With a strong focus on machine learning models and data enrichment, you will play a crucial role in enhancing our competitive position in the market and driving profitability. Working closely with cross-functional teams, you will have the opportunity to collaborate with experts in Product, Marketing, Finance, and Data, contributing to the overall success of the business. Join us and be part of a team that strives for excellence, harnesses the power of data, and offers an exciting career path in the insurance industry.
What you’ll do
As a Pricing Analyst at Sainsbury’s Bank, you will play a crucial role in maintaining and monitoring the pricing of insurance products to achieve the growth and profitability goals of the bank. Working closely with the Pricing Manager and other bank colleagues, you will collaborate to offer optimum prices and commissions for Sainsbury’s Bank customers while aligning with the bank’s objectives. Your responsibilities will include maintaining and monitoring the models that feed into the bespoke pricing optimisation platform for motor and home insurance products, as well as supporting the scoping and building of new models. Leveraging unique data sources and established relationships with underwriters, you will implement and test the underwriters' rates to maintain a competitive position for the Sainsbury’s panel. Additionally, you will contribute to delivering the required sales and profit targets through effective management of pricing levers and supporting the implementation of changes to retail pricing functionality. Your expertise will make you a subject matter expert for one of the bank’s key insurance products, while collaborating closely with various internal teams and stakeholders, including product managers, marketing, finance, and data teams. You will also monitor market trends, identify opportunities and threats, and contribute to wider team discussions on strategy development, commercial issues, and customer management. Ultimately, your analytical skills, mathematical proficiency, experience with machine learning models, and knowledge of analytical tools such as Python, AWS services, and version control will be essential to excel in this role.
Who you are
As an Insurance Pricing Analyst for Sainsbury’s Bank, you are a highly skilled and analytical professional with a strong background in pricing, statistical analysis, and data science. With a mathematical, statistics, financial, or scientific degree, you bring a solid foundation in quantitative methodologies to the role. Your experience in personal lines general insurance products, coupled with your proficiency in machine learning models and analytical tools such as Python, enables you to effectively develop and deploy pricing strategies. Your expertise in working with data and your understanding of the financial services sector contribute to the maintenance and monitoring of pricing models, ensuring the achievement of growth and profitability targets. With your strong communication skills and ability to collaborate with cross-functional teams, you provide valuable insights and support to product managers, marketing, finance, and other stakeholders, driving competitive positioning and optimising business performance.
We are committed to being a truly inclusive retailer, so you’ll be welcomed whoever you are and wherever you work. Around here, there’s always the chance to try something new - whether that’s as part of an evolving team or somewhere else across the business - and we take development seriously and promise to support you. We also recognise and celebrate colleagues when they go the extra mile and, where possible, offer flexible working. When you join our team, we’ll also offer you an amazing range of benefits. Here are some of them:
Starting off with colleague discount, you’ll be able to get 10% off at Sainsbury’s, Argos, TU and Habitat after 4 weeks. This increases to 15% off at Sainsbury’s every Friday and Saturday and 15% off at Argos every pay day. We’ve also got you covered for your future with our pensions scheme and life cover. You’ll also be able to share in our success as you may be eligible for a performance-related bonus of up to 20% of salary, depending on how we perform.
Your wellbeing is important to us too. You’ll receive an annual holiday allowance and you can buy additional holiday. We also offer other benefits that will help your money go further such as season ticket loans, cycle to work scheme, health cash plans, pay advance (where you can access some of your pay before pay day) as well access to a great range of discounts from hundreds of other retailers. And if you ever need it there is also an employee assistance programme.
Moments that matter are as important to us as they are to you which is why we give up to 26 weeks’ pay for maternity or adoption leave and up to 4 weeks’ pay for paternity leave.
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