Senior Actuary

Location:
London
Department:
Asset Risk
About The Role
The Senior Actuary is Motability Operations’ in-house actuarial expert, responsible for leading all actuarial activities in support of MO Group’s insurance model. Key deliverables are the quarterly reserving exercise and the twice-yearly pricing review. The Senior Actuary has regular contact with our insurance partner and our reinsurance captive MORL to ensure full understanding of claims costs developments and their impact on Group financials and our reinsurance panel.

The Role
  • Reserving (quarterly):
    • Calculate the movement in claims and latest projections of ultimate settlements, using appropriate actuarial techniques and loss development factors
    • Reconcile data to control reports and maintain documentation of process and controls
    • Produce summary presentation and paper
    • Liaise with external peer reviewers and secure endorsement of the reserving exercise with auditors
  • Pricing (half-yearly):
    • Produce a proposed premium for the next period for each head of damage
    • Liaison and influencing with our insurance partner’s Actuaries
    • Produce a summary presentation and paper
  • Maintain regular contact with our insurance partner to ensure prompt and accurate claims data provision and to understand the latest trends and drivers of Motability scheme claims costs
  • Share regular management information with the rest of the team, with MO senior management and with MORL
  • Development of analysis and presentations for our reinsurers
  • In addition to Excel and Access, data manipulation using software including SAS and reserving tools
About You

You will have gained the following experience/skills:

  • Fully-qualified Actuary
  • Excellent PC skills and Advanced MS Excel skills (Macro / VBA knowledge required)
  • Good experience working with very large data sets
  • Strong communication skills, with the ability to negotiate and influence

Desirable

  • Experience in both pricing and reserving
  • Presenting actuarial data to a non-actuarial audience
  • Experience using SAS software
  • Experience in motor insurance
About The Company

At Motability Operations Ltd we provide a unique mobility proposition for the specific needs of people with disabilities by leasing cars, scooters and powered wheelchairs to those in receipt of Disability Living Allowance and Personal Independence Payment. We are the largest car fleet operator in the UK (purchasing around 10% of all the new cars sold in the UK) and have over 600,000 customers. 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 and our people demonstrate these values:

  • We strive for excellence

  • We are passionate about what we do

  • We have a high performance culture

  • We think and act commercially

  • We are friendly, flexible and facilitating

What’s on offer

As a Motability Operations Ltd team member you can expect:

  • Competitive salary

  • Private healthcare

  • 15% non-contributory pension

  • Generous holiday allowance

  • Life assurance

  • Voluntary benefits such as discounted car hire, roadside recovery membership, travel insurance and gym membership

Unfortunately Motability Operations Ltd is unable to provide visa sponsorship; therefore applicants applying to work with Motability Operations Ltd must be eligible to work in the UK.