Actuary

6 months ago

London, United Kingdom Motability Operations Full time

**About The Role**:
We are looking for an experienced, enthusiastic and resourceful Actuary to join the Insurance Risk team in Motability Operations.

The MO Actuary will deliver the actuarial outputs to support MO’s insurance model and our reinsurance captive MORL (MO Reinsurance Limited). The role holder will be the senior actuarial expert in MO, using their breadth of expertise to perform a broad range of complex actuarial activities. They will also contribute to the development of the Motability scheme’s insurance proposition, and identify opportunities to improve MO’s management of our insurance risk.

This role sits in the actuarial team in Insurance Risk, in the Asset Risk division. This is a small team which carries out a wide range of actuarial activities in support of MO and the insurance component of the Motability scheme. These activities include:

- Reserving reviews (quarterly) for MORL,
- Pricing reviews (twice yearly), based on burn cost analysis conducted in parallel with our insurance partner,
- Strategic and commercial analysis of our risk model and reinsurance programmes
- An annual capital modelling exercise,
- Review of the scheme’s risk profile,
- Make-model pricing adjustments to feed into scheme lease pricing.

This is a unique role, responsible for managing a large book of motor risk, consisting of 750,000+ cars, 1.2m+ drivers, and £600m+ of annual premium. Though not an insurance company, Motability Operations is a significant presence in the UK motor market, and the MO Actuary will represent MO and MORL in engagements with our insurance partner, our reinsurance broker and reinsurers, as well as with our expert actuarial partners and auditors.

The successful applicant will relish the opportunity to develop and demonstrate their actuarial expertise, to take responsibility for a broad range of insurance risks, and to contribute to the development of an excellent insurance proposition. Working alongside other analytical teams in the Asset Risk division, the Actuary will also look for opportunities to share techniques, data and insight with colleagues in support of MO’s wider management of automotive financial risk.

Reporting to the Head of Insurance Risk, you will also be responsible for managing, mentoring, and developing your actuarial colleagues.

**About You**:
This is an opportunity for a talented Actuary to lead and mentor a small actuarial team, managing a large and unique motor book. We are looking for someone who:

- Works independently and is seen as the ultimate technical authority
- Leads others in solving complex technical or analytical problems
- Collaborates with different departments across MO and with our key insurance partners
- Manages internal and external stakeholders to drive success
- Contributes to the team’s direction through direct accountability for commercial results and technical leadership
- Is a good communicator, mentor and educator, with good leadership skills
- Creates and maintains a culture of quality and checking
- Is a strong contributor to and user of skills networks, and brings views to the table.

**About The Company**:
Motability Operations is a unique organisation, virtually one of a kind. We combine a strong sense of purpose with a real commercial edge to ensure we provide the best possible worry-free mobility solutions to over 700,000 customers and their families across the UK. Customers exchange their higher rate mobility allowance to lease a range of affordable vehicles (cars, wheelchair accessible vehicles, scooters, and powered wheelchairs) with insurance, maintenance and breakdown assistance included. We are the largest car fleet operator in the UK (purchasing around 10% of all the new cars sold in the UK) and work with a network of around 5,000 car dealers and all the major manufacturers. We pride ourselves on delivering outstanding customer service, achieving an independently verified customer satisfaction rating of 9.8 out of 10.

Our values are at the heart of everything we do. They represent ambition, and we look for our people to live and breathe them every day:

- We find solutions
- We drive change
- We care

We operate hybrid working across the organisation where we split our time between working on-site at our offices, and at home, remotely within the UK. We believe hybrid working achieves a good work/life balance for our colleagues, allowing us to connect with each other, collaborate on important work, and perform together to deliver for our customers. It allows us to have the flexibility to work remotely up to 2-days per week whilst also using the great office spaces we have available.

As a Motability Operations team member, the benefits you can expect are:

- Competitive reward package including an annual discretionary bonus
- 15% non-contributory pension (9% non-contributory pension during probation period)
- 28 days annual leave with option to purchase and sell days
- Free fresh fruit and snacks in the

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