Actuary

About the Role
We are seeking an experienced and resourceful Actuary to join the Insurance Risk team at Motability Operations. The successful candidate will lead and manage the actuarial activities related to Motability Operations’ insurance model and reinsurance captive, MORL (MO Reinsurance Limited). The role encompasses a broad range of complex actuarial activities, supporting the development of the Motability scheme’s insurance proposition and enhancing the management of insurance risk.
Key Responsibilities
Lead the actuarial team in performing quarterly reserving reviews for MORL, pricing reviews, strategic and commercial analysis, capital modelling, and risk profile reviews.
Oversee the preparation of actuarial outputs, including supporting the production of the annual consolidated Group financial statements, tax planning, and capital adequacy.
Collaborate with internal and external stakeholders, including insurance partners, reinsurance brokers, and auditors, to ensure compliance and successful project outcomes.
Manage internal and external stakeholders to drive success and contribute to the development of the insurance proposition.
Represent Motability Operations and MORL in engagements with insurance partners, reinsurance brokers, and external stakeholders.
About You
Ability to work independently and serve as a technical authority in the field of actuarial analysis.
Skilled in solving complex technical or analytical problems and providing strategic insights to stakeholders.
Effective communication, mentorship, and leadership skills, with the ability to build and maintain strong relationships across the business.
Proven experience in General Insurance pricing or reserving, with a minimum of 10 years of post-qualification experience.
Ability to create and maintain a culture of quality, consistency, and accountability in actuarial practices.
Minimum Criteria
Qualified Actuary (ACCA, CIMA, or equivalent) with experience in General Insurance pricing or reserving.
Experience with UK motor pricing or reserving, using ResQ software, and developing actuarial processes.
Strong analytical skills and experience in presenting actuarial information to various stakeholders.
Strong communication skills and the ability to collaborate across different departments.
Ability to work in a fast-paced environment and manage multiple projects simultaneously.
About the Company
Motability Operations is a unique organization, providing worry-free mobility solutions to over 700,000 customers and their families across the UK. Customers can lease a range of vehicles, including cars, wheelchair-accessible vehicles, scooters, and powered wheelchairs, with insurance, maintenance, and breakdown assistance included. We operate the largest car fleet in the UK and collaborate with over 5,000 car dealers and major manufacturers.
Benefits
Competitive reward package, including an annual discretionary bonus.
15% non-contributory pension (9% during the probation period).
28 days annual leave with the option to purchase and sell days.
Funded Private Medical Insurance cover.
Electric/Hybrid Car Salary Sacrifice Scheme and Cycle to Work Scheme.
Life assurance at 4 times your basic salary.
Employee Discount Scheme and various voluntary benefits, including charitable giving, critical illness insurance, dental insurance, discounted gym memberships, and health screenings.
1 day for volunteering each year.
Free access to healthcare apps such as Peppy, Unmind, and Aviva Digital GP.
Inclusion and Diversity
We value diversity and encourage applications from people of all backgrounds, striving to create a culture of inclusion and flexibility. We aim to accommodate flexible working arrangements where possible, supporting a positive work-life balance for our colleagues. If you need any assistance or adjustments during the application process, please let us know.