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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:
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:
The ideal candidate will be:
Qualified (or qualified by experience) Actuary with experience in General Insurance pricing or reserving. The successful candidate will have passed the IFOA exams CP1 and CM2 or equivalent as a minimum, and will have applied a range of actuarial techniques in a comparable role. The role holder will have experience and aptitude with a wide variety of analytical tools. Additional relevant experience would be UK motor pricing or reserving, using ResQ software, experience of developing actuarial processes, and presenting actuarial information, analysis and proposals to a variety of stakeholders. Candidates who are fully-qualified IFOA members will be preferred.
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 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:
At Motability Operations, we believe in building a diverse workforce, where our people are empowered to attend work as their true selves, and we encourage people from all backgrounds to apply.We want to sustain a culture that nurtures, where employees are free to flourish and where they’re rewarded equally, regardless of race, nationality or ethnic origin, sexual orientation, age, disability, or gender.
We pride ourselves on being an inclusive employer and as such, all our offices provide first rate disability access. With our hybrid working environment, we do our best to accommodate part-time and flexible working requests where possible, building on our culture of trust, empowerment, and flexibility.
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