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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: Strong experience in financial risk management and expertise in 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 escalate 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 - NonVolume employer: The Automobile Association
Contact Detail:
The Automobile Association Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Financial Risk Manager - NonVolume
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those already at The AA. A friendly chat can open doors and give you insider info that could make your application stand out.
✨Tip Number 2
Prepare for the interview by knowing your stuff! Brush up on financial risk management concepts, especially around pricing and underwriting. Show us you’re not just a candidate, but the right fit for our team.
✨Tip Number 3
Practice makes perfect! Do mock interviews with friends or use online resources. The more comfortable you are talking about your experience and skills, 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. Plus, it shows you’re genuinely interested in joining The AA family.
We think you need these skills to ace Financial Risk Manager - NonVolume
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, especially in 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 your background makes you a perfect fit. We love seeing enthusiasm and a personal touch!
Showcase Relevant Experience: When filling out your application, be sure to showcase any hands-on experience you have with risk modelling and frameworks. We’re keen on understanding how you've tackled similar challenges in the past.
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way to ensure your application gets to us directly. Plus, it shows you’re serious about joining our team at The AA!
How to prepare for a job interview at The Automobile Association
✨Know Your Numbers
As a Financial Risk Manager, you'll need to demonstrate your expertise in pricing and underwriting risk. Brush up on key metrics and models relevant to the insurance sector. Be ready to discuss how these factors influence commercial outcomes during your interview.
✨Collaborate Like a Pro
This role is all about teamwork! Familiarise yourself with the actuarial, underwriting, and finance teams' functions. Prepare examples of how you've successfully collaborated in the past, as this will show your ability to work effectively across departments.
✨Showcase Your Risk Management Skills
Be prepared to discuss your hands-on experience with risk modelling and management frameworks. Think of specific instances where you identified risks and implemented effective mitigations. This will highlight your proactive approach to financial risk management.
✨Ask Insightful Questions
Interviews are a two-way street! Prepare thoughtful questions about the company's risk management strategies and how they align with their growth ambitions. This shows your genuine interest in the role and helps you assess if it's the right fit for you.
