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For Companies At a Glance
- Tasks: Lead a dynamic pricing team to enhance RAC's portfolio pricing and achieve commercial goals.
- Company: Join RAC, a market leader in personal lines insurance with a rich heritage and ambitious growth plans.
- Benefits: Enjoy flexible hybrid work, competitive salary, 25 days leave, and exclusive discounts.
- Why this job: Be part of a forward-thinking team that values innovation and collaboration in a fast-paced environment.
- Qualifications: 5+ years in pricing, strong analytical skills, and familiarity with data science techniques required.
- Other info: Embrace a culture of inclusivity and diversity while contributing to RAC's success.
The predicted salary is between 48000 - 72000 £ per year.
About The Role
The RAC is a company with a rich heritage yet when it comes to insurance pricing, the journey is only just beginning. We have the unique and exciting opportunity to appoint a Head of Portfolio Pricing who will manage a high-performing pricing team and help continuously advance RAC’s portfolio pricing capability and deliver its commercial targets.
This is a permanent role in Bristol on a flexible hybrid model and be a part of an established market leader with a wealth of data.
We operate as a broker within the personal lines insurance market and have big ambitions to grow in this area, to punch our weight in insurance as we do in breakdown cover.
What You’ll Do…
- Work with Commercial, Finance and Product teams to deliver P&L Budget result
- Develop opportunities to drive Trading performance
- Develop performance improvements via pricing, data, product and deployment
- Develop options to deliver benefit via our insurance panel
- Manage team analysts to effectively and efficiently tackle trading problems
- Embed the appropriate governance for all pricing changes deployed to market
- Develop appropriate MI to drive insight
- Develop pricing capability alongside other pricing teams to give RAC cutting edge ability
- Review and sign off pricing proposals as required
- Support the development of a governance framework for Model builds
- Ensure all pricing practices adhere to governance processes
- Review the data available to Pricing and alongside other teams prioritise future data consumption
- Develop pricing controls, working with internal and external partners to ensure pricing is implemented correctly and within business timescales.
What You’ll Need…
- 5+ years of pricing experience in relevant field (such as Finance, Insurance, etc.).
- Good technical knowledge of pricing and analytical techniques.
- Highly numerate with strong analytical & problem solving skills
- Awareness of Data Science techniques and how /where to draw value from them
- Understanding of risk underwriting and risk based pricing of insurance products
Software skills a bonus. E.g. Python, SQL/SAS, WTW Radar / Earnix.
Knowledge of FCA regulatory guidance, including emerging changes.
To be considered for this role we are looking for someone who is comfortable working in a fast-paced environment and can prioritise their own work and the contributions of others to effectively deliver agreed objectives.
In return, we offer…
At RAC, our colleagues do whatever it takes to help our customers. And we believe in rewarding you in return. As well as a competitive salary, you’ll have all these extra benefits:
- FREE RAC Ultimate Complete Breakdown Service from Day One.
- 25 days annual leave entitlement plus bank holidays.
- Option to join RAC’s Group Personal Pension scheme where we will match / contribute up to 6.5% on qualifying earnings.
- 2 x Basic Salary Core Employer funded Life Assurance cover (4 x for pension scheme members) with the option to flex up to 10 x cover through our flexible benefits offering.
- Confidential personal support service, available 24 hours a day every day of the year for you and any family members ages 16+ in your household.
- Car salary sacrifice scheme – after 12 months of employment, where you’ll enjoy significant tax savings, including electric vehicle options.
- Access to Orange Savings, our online discounts portal offering 1000’s of savings on high street retailers, supermarkets, holidays, tech and much, much more.
When you join us you will automatically be opted into our Colleague Share Scheme, called ‘Owning it together’. This is a unique opportunity for our colleagues to get rewarded for the outstanding work they deliver, to share in the future success of the RAC and is no ordinary work benefit, incentive, or bonus!
We’re committed to developing a culture that is representative of the diverse communities we serve and one which is open, accessible, collaborative, and inclusive. We welcome applicants of all backgrounds and experiences.
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Head Of Portfolio Pricing employer: Rac
Contact Detail:
Rac Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head Of Portfolio Pricing
✨Tip Number 1
Familiarize yourself with the latest trends in insurance pricing and data analytics. Understanding how these trends impact the market will help you demonstrate your expertise during discussions with our team.
✨Tip Number 2
Network with professionals in the insurance and finance sectors. Engaging with others in the field can provide valuable insights and potentially lead to referrals that could strengthen your application.
✨Tip Number 3
Showcase your experience with relevant software tools like Python, SQL, or SAS. Highlighting your technical skills will set you apart, especially since we value candidates who can leverage technology in pricing strategies.
✨Tip Number 4
Prepare to discuss your approach to managing teams and driving performance improvements. We’re looking for someone who can lead effectively, so be ready to share examples of how you've successfully managed projects and teams in the past.
We think you need these skills to ace Head Of Portfolio Pricing
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your relevant experience in pricing, particularly in the insurance or finance sectors. Emphasize your analytical skills and any software knowledge, such as Python or SQL, that aligns with the job requirements.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your background and skills make you a perfect fit for leading a high-performing pricing team and advancing RAC’s portfolio pricing capability.
Showcase Your Achievements: When detailing your previous roles, focus on specific achievements related to pricing strategies, performance improvements, and team management. Use metrics where possible to demonstrate your impact on P&L results.
Research the Company: Familiarize yourself with RAC's history, values, and current market position. Understanding their ambitions in the personal lines insurance market will help you tailor your application and show that you are genuinely interested in contributing to their goals.
How to prepare for a job interview at Rac
✨Showcase Your Pricing Expertise
Make sure to highlight your 5+ years of pricing experience during the interview. Discuss specific projects where you successfully managed pricing strategies and how they contributed to P&L results.
✨Demonstrate Analytical Skills
Prepare to discuss your analytical and problem-solving skills. Bring examples of how you've used data science techniques or software like Python or SQL to drive performance improvements in pricing.
✨Understand the Regulatory Landscape
Familiarize yourself with FCA regulatory guidance and be ready to discuss how you ensure compliance in pricing practices. This shows that you are not only technically skilled but also aware of the broader implications of your work.
✨Emphasize Team Leadership
As a Head of Portfolio Pricing, you'll manage a team. Be prepared to share your leadership style and experiences managing analysts. Discuss how you foster collaboration and tackle trading problems effectively.
