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- Tasks: Lead financial risk management and collaborate with teams to enhance pricing and underwriting strategies.
- Company: Join The AA, the UK's leading motoring organisation with over 100 years of innovation.
- Benefits: Enjoy 25 days leave, pension contributions, discounts, and diverse learning opportunities.
- Why this job: Make a real impact on financial strategies while working in a dynamic, inclusive environment.
- Qualifications: Experience in financial risk management and strong knowledge of pricing and underwriting.
- Other info: Hybrid working model with a focus on career progression and employee well-being.
The predicted salary is between 36000 - 60000 £ per year.
Location: Basingstoke (hybrid working 3 office days per week)
Employment Type: Full time / Permanent
Thought The AA only provide roadside assistance? Think again. For over 100 years, we’ve continued to evolve and adapt. Today, as the nation’s number one motoring organisation, we offer a range of excellent products and services to millions of customers from roadside assistance to home and motor insurance as well as providing the latest driving technologies. As we continue to expand, diversify, and modernise, joining us as our Financial Risk Manager, you’ll play a key part to our success and join us on this exciting motoring journey.
This is the job: As Financial Risk Manager, you’ll sit at the heart of the AA Group, playing a key role in protecting and strengthening the business as it delivers on its strategic ambitions. Working closely with the Director of Financial Risk, you’ll help oversee and manage financial risks across the organisation, with a particular focus on pricing and underwriting risk, areas that are critical to commercial success and long-term sustainability. This is a highly collaborative role where you’ll partner with actuarial, underwriting and finance teams to ensure risks relating to pricing, underwriting, reserving and capital management are clearly understood, well controlled and managed within appetite. You’ll have real influence, helping to shape a robust and effective risk management framework that not only safeguards the business but actively enables growth through improved understanding and smarter decision-making.
What will I be doing?
- Lead review and challenge of pricing and underwriting models and strategies.
- Partner with actuarial and underwriting teams to ensure robust assumptions and methodologies.
- Monitor pricing and underwriting controls against risk appetite.
- Assess pricing adequacy, risk selection, policy terms and claims practices.
- Identify emerging pricing and underwriting risks and recommend mitigations.
- Enhance pricing and underwriting risk frameworks, policies and procedures.
- Support identification and management of key financial risks across the business.
- Monitor financial risk exposures and escape emerging risks.
- Support oversight of reserving processes and reserve adequacy.
- Develop risk dashboards, KRIs and management information.
- Produce clear, timely reporting for senior management and the Board.
- Provide risk input to new products, pricing changes and strategic initiatives.
- Partner with leaders to design and implement risk mitigation actions.
What do I need? Capability, Knowledge and Experience:
- Strong experience in financial risk management or modelling within insurance or financial services.
- Proven expertise in pricing and underwriting risk, with a solid understanding of how these drive commercial outcomes.
- Knowledge of risk management frameworks, insurance pricing, underwriting, reserving and capital management.
- Hands-on experience of risk modelling, including design, build, testing and documentation.
Additional information: We’re always looking to recognise and reward our employees for the work they do. As a valued member of The AA team, you’ll have access to a range of benefits including:
- 25 days annual leave plus bank holidays + holiday buying scheme
- Worksave pension scheme with up to 7% employer contribution
- Free AA breakdown membership from Day 1 plus 50% discount for family and friends
- Discounts on AA products including car and home insurance
- Employee discount scheme that gives you access to a car salary sacrifice scheme plus great discounts on healthcare, shopping, holidays and more
- Company funded life assurance
- Diverse learning and development opportunities to support you to progress in your career
- Dedicated Employee Assistance Programme and a 24/7 remote GP service for you and your family
Plus, so much more! We’re an equal opportunities employer and welcome applications from everyone. The AA values diversity and the difference this brings to our culture and our customers. We actively seek people from diverse backgrounds to join us and become part of an inclusive company where you can be yourself, be empowered to be your best and feel like you truly belong. We have five communities to bring together people with shared characteristics and backgrounds and drive positive change.
Financial Risk Manager in Basingstoke employer: Automobile Association
Contact Detail:
Automobile Association Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Financial Risk Manager in Basingstoke
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect with current employees at The AA. A friendly chat can sometimes lead to opportunities that aren’t even advertised.
✨Tip Number 2
Prepare for interviews by researching The AA’s values and recent projects. Show us you’re not just interested in the role but also in being part of our journey. Tailor your answers to reflect how you can contribute to our success.
✨Tip Number 3
Practice makes perfect! Conduct mock interviews with friends or use online resources to refine your responses. The more comfortable you are, the better you’ll perform when it counts.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows us you’re genuinely interested in joining The AA family.
We think you need these skills to ace Financial Risk Manager in Basingstoke
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Financial Risk Manager role. Highlight your experience in financial risk management, pricing, and underwriting. We want to see how your skills align with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how you can contribute to our team. Be sure to mention any relevant experience that showcases your expertise.
Showcase Your Achievements: When detailing your experience, focus on specific achievements rather than just duties. Quantify your successes where possible, like improvements in risk management or successful projects you've led. We love numbers!
Apply Through Our Website: Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it’s super easy to do!
How to prepare for a job interview at Automobile Association
✨Know Your Numbers
As a Financial Risk Manager, you'll need to demonstrate your expertise in financial risk management. Brush up on key metrics related to pricing and underwriting risks. Be ready to discuss how these metrics influence commercial outcomes and how you’ve applied them in past roles.
✨Collaborate Like a Pro
This role is all about collaboration with various teams. Prepare examples of how you've successfully partnered with actuarial, underwriting, and finance teams in the past. Highlight your ability to communicate complex risk concepts clearly and effectively.
✨Showcase Your Problem-Solving Skills
Be prepared to discuss specific instances where you've identified emerging risks and implemented effective mitigations. Use the STAR method (Situation, Task, Action, Result) to structure your answers and showcase your analytical thinking.
✨Understand the Company’s Vision
Research The AA's strategic ambitions and how the Financial Risk Manager role fits into their growth plans. Be ready to discuss how you can contribute to shaping a robust risk management framework that aligns with their goals and enhances decision-making.
