Description
The Head of Residual Value (RV) and Service, Maintenance and Repair (SMR) Risk sits in the Asset Risk Division, which has the responsibility for forecasting Motability Operation's key financial risks, including Residual Value and SMR, Insurance Lease Pricing, Economic Capital, as well as producing the customer pricing (Car, WAV PWSS). This role is accountable for delivering residual value and SMR budget forecasts and revaluations of existing forecasts for vehicles on fleet as well as the narrative around the past and future vehicle products and values. This role is key in understanding the transition to electric vehicles and its impact on depreciation dynamics
Reporting to the Chief Asset Risk Officer, the role is a member of the Strategic Leadership team (SLT) with the following key responsibilities:
You will drive the Asset Risk strategy and ensure success of AR objectives by steering and prioritising AR activity and ways of working as a member of our SLT
You will lead and develop a team of experts, ensuring they develop and maintain the skills and knowledge needed, remain engaged, and are passionate about effective communication and stakeholder management.
You will be drawing on broader AR operations support on data & insight, modelling and tools via our matrix way of working, driving objectives for the wider division.
You will work closely with wider business SLT to drive and ensure delivery of MO strategic objectives, as well as sharing Asset Risk insight
You will be accountable for delivering the quarterly RV and SMR Reviews and fleet revaluations. This includes the systems, tools and processes that support RV&SMR risk activity e.g. chairing the cross functional RV Forum and SMR forum
You will be accountable for leading the continuous development of our RV and SMR forecasting approaches as well as supporting outlooks
You will be accountable for delivering the 5+ year outlook for RVs and SMR budgets, incorporating key factors such as industry and MO volume and risk dynamics, ensuring data informs our understanding of current and future pricing and producing strong insight and story-led narratives
You will be responsible for managing the financial budget of your team, including associated consultancy spend
You will champion our purpose of unbiased storytelling grounded in data and expertise
You will work with the Asset Risk Leadership Team to ensure the requirements of the AR Operations Team are understood, planned and managed for all strategic projects and business as usual activity across the relevant time frames of 12 to 24 months.
You will work with your fellow Strategic Leadership colleagues to develop strong Asset Risk colleague engagement & wellbeing through effective communication, development and training, recognition and inclusion.
You will develop collaborative and enduring relationships and be an advocate for Asset Risk and our ways of working internally and also representing MO within the industry and expert areas
Qualifications
Ability to create and explain complex narratives to influence varied stakeholders, including ExCo members
Passionate about the intersection of automotive industry, wider economy and consumer choices, and using data to create meaningful insight, building convincing narratives for the future
Confident in ensuring data accuracy feeding models, insight and forecasts
Comfortable living in the 'grey', predicting a central path while sizing the risks and alternative outcomes and taking a proactive lead on risk management
Ability to bring together a matrix team to deliver outcomes and drive change
Commercial awareness: Can understand the business environment, market trends, and the financial impact of decisions to align models with the organisation's strategic goals
Ability to develop solutions for complex financial problems
Minimum criteria
You'll need all of these
A degree in Economics, Actuarial Science, Statistics, Mathematics or a related field is usually required
Extensive experience of delivering both strategic insight and key operational activities to a group of multiple stakeholders in a matrix management model
Extensive experience of leading a team, delivering data based outlooks and complex narratives
Experience of delivering insight that has made tangible changes in a commercial environment
Desirable criteria
Master's Degree in fields like Economics, Data Science, Business Analytics, or a related discipline
Benefits
Motability Operations is a unique organisation, virtually one of a kind. We combine a strong sense of purpose with a real commercial edge to ensure we provide the best possible worry-free mobility solutions to over 860,000 customers and their families across the UK. Customers exchange their higher rate mobility allowance to lease a range of affordable vehicles (cars, wheelchair accessible vehicles, scooters, and powered wheelchairs) with insurance, maintenance and breakdown assistance included. We are the largest car fleet operator in the UK (purchasing around 10% of all the new cars sold in the UK) and work with a network of around 5,000 car dealers and all the major manufacturers. 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. They represent ambition, and we look for our people to live and breathe them every day:
We find solutions
We drive change
We care
We operate hybrid working across the organisation where we split our time between working on-site at our offices, and at home, remotely within the UK. We believe hybrid working achieves a good work/life balance for our colleagues, allowing us to connect with each other, collaborate on important work, and perform together to deliver for our customers. It allows us to have the flexibility to work remotely up to 2-days per week whilst also using the great office spaces we have available.
As a Motability Operations team member, the benefits you can expect are:
Competitive reward package including an annual discretionary bonus
15% non-contributory pension (9% non-contributory pension during probation period)
28 days annual leave with option to purchase and sell days
Free fresh fruit and snacks in the office
1 day for volunteering
Funded Private Medical Insurance cover
Electric/Hybrid Car Salary Sacrifice Scheme and Cycle to Work Scheme
Life assurance at 4 times your basic salary to give you a peace of mind that your loved ones will receive some financial help
Funded health screening for over 50s
Voluntary benefits: charitable giving, critical illness insurance, dental insurance, health and cancer screenings for you and your partner, discounted gym memberships and season ticket loans
Employee Discount Scheme with an app to save on the go
Free access to healthcare apps such as Peppy, Unmind, Aviva Digital GP and volunteering app on Hand for all employees
Generous family leave policies
At Motability Operations, we believe in building a diverse workforce, where our people are empowered to attend work as their true selves, and we encourage people from all backgrounds to apply. We want to sustain a culture that nurtures, where employees are free to flourish and where they're rewarded equally, regardless of race, nationality or ethnic origin, sexual orientation, age, disability, or gender.
We pride ourselves on being an inclusive employer and as such, all our offices provide first rate disability access. With our hybrid working environment, we do our best to accommodate part-time and flexible working requests where possible, building on our culture of trust, empowerment, and flexibility.
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