Retention Manager

Retention Manager

Location:
Haywards Heath
Salary:
£52,000 - £70,000 per annum dependent on experience
Department:
Commercial
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We’re First Central Insurance & Technology Group (First Central for short), an award-winning innovative insurance and technology organisation, delivering market-leading motor insurance, underwriting, distribution, finance, technology and legal services.
 

Are you looking for a new career with a fast-growing, dynamic company? Well look no further! We need a Retention Manager to join our Marketing team in Haywards Heath, West Sussex.

 

You will own performance delivery & innovation for improving customer retention and persistency in line with agreed budget and 5 year plan for all of First Central’s products. You will support the team and business in ensuring the correct oversight, governance and continuous improvement is achieved in line with business and regulatory requirements.

To be successful in this role, you’ll need to have:

  • Experience in a Retention focussed role
  • Strong leadership skills - ability to lead teams and champion the customer retention agenda
  • Excellent numeracy and analytics skills, with a data / insight driven approach to solve problems and distil complex information into clear insight and recommendations

Job Description

Job Responsibilities:

  • Support creation and lead execution of the customer retention strategy with a strong focus on minimising cancellation rates and maximising renewal retention rates, in both online and offline touchpoints – including understanding and monitoring the market best practice and competitor strategy reviews.
  • Lead on deep dive analysis of the persistency and retention KPIs and supporting metrics, working with the Pricing, customer & Trading team to explain variation from budget, and proactively deliver actionable insight to help determine the required approach to maximise profitability for First Central.
  • Lead the development of new strategies and initiatives in an Agile way from concept to commercialisation to drive the retention change agenda, and develop a backlog of commercial initiatives that are product & customer segment specific.
  • Lead tactical commercial initiatives across functional teams to deliver new capability or improvements in retention performance including renewal invite strategies and test roadmaps for improving the interactions we have with customers in life and at renewal.
  • Support the retention forecasting, budget, and retrospective analysis processes and the evolution of the customer retention roadmap and strategy.
  • Support the retention product owner in the ongoing continuous improvement of the core business processes of retention, cancellations & MTA to ensure they are delivering the right customer, commercial and regulatory outcomes. Lead the resolution of any core process issues.
  • Support the maintenance of the risk register (as applicable), providing evidence and commentary for controls, updates for mitigating actions and maintaining control matrices and attestations, with the goal of increasing automated controls and reporting for robust governance oversight.
  • Put in place appropriate engagement with cross functional teams to support the delivery of group wide business objectives & help integrate the customer retention team into the wider team and business.
  • Always ensure compliance with company and other relevant standards / regulations
  • Support the personal development of the customer retention team members
  • Any other reasonable duties as required.

Job Specific Competencies:

Experience

  • Experience of working within a highly regulated environment.
  • Understanding of the insurance/financial services industry, its products and key regulations.
  • Strong stakeholder management experience within a fast paced, matrixed environment.
  • Proven team leadership, experience in building, motivating and inspiring high-performance teams.
  • Ability to flex leadership style in order to engage and influence a wide range of stakeholders.
  • Exposure to insurance business functions – pricing , digital, finance, operations, underwriting
  • Exposure to senior management level and above in a customer-focused business.
  • Experience in delivering weekly trading updates & working within a team with both customer, commercial and regulatory responsibility.

Skills

  • Highly numerate and analytical, with a data / insight driven approach to solve problems and distil complex information into clear insight and recommendations
  • Ability to influence senior stakeholders and external suppliers.
  • Highly motivated self-starter.
  • Ability to take quick confident decisions at a strategic level to move things forward.
  • Structured thinking to find solutions to complex problems and the ability to adopt a pragmatic way forward.
  • Strong leadership skills - ability to lead teams and champion the customer retention agenda
  • Ability to communicate complex information in an easily digestible format to key stakeholders.
  • Confidence in prioritising and balancing competing work streams.
  • Excellent communication & presentation skills, both verbal and written.
  • Good time management and organisation skills.
  • Attention to detail.
  • Entrepreneurial mind-set with the ability to spot opportunities.
  • Strong organisational & planning skills
  • Be confident in prioritising and balancing competing work streams

Knowledge

  • Ideally an excellent understanding of retail insurance products, the insurance industry, and the different distribution channels.
  • Subscription-based businesses in other sectors will be considered.

Behaviours

  • Professional, confident and personable
  • Commercially focused with a strong customer ethic
  • A flexible approach and positive attitude
  • An agile approach to project management and able to rapidly react to changes in business priorities to take advantage of emerging business and customer opportunities
  • Able to work on own initiative and also collaboratively as part of a team
  • Able to manage internal and external stakeholders
  • Strives to drive business improvements to contribute to the success of the business
  • Self-motivated, enthusiastic, target driven and results focused
  • Analytical by nature with an aptitude for data-based decision making.
  • A driven attitude to deliver change and rapidly overcome obstacles.

If you’d like to work for an award-winning employer in a fast-paced environment, apply now!

Want to know what it’s really like to work at First Central? Take a look at our Glassdoor reviews.

What can we do for you?


We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…

  • Fantastic training and development opportunities
  • Employee benefit packages to suit your lifestyle
  • Flexible working
  • YOUday – we give you an extra day off to celebrate a special day
  • The opportunity to take a paid day off each year to do charity work
  • A health cash plan
  • Help with travel expenses
  • The opportunity to buy additional holiday
  • Company pension scheme
  • Group life assurance
  • Enhanced maternity and paternity pay
  • Professional subscription fees paid

Employee wellbeing is high on the agenda here too. We provide a weekly free fruit delivery, discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.

For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Recruitment team.

View more about our Benefits

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glassdoor

86% of people would recommend a friend to work at First Central

Based on 164 Glassdoor reviews (March 2022)

Benefits

View all benefits >

Flexible working

We support colleagues who wish to work flexibly whilst meeting the needs of the business.

YOUday

If it’s your birthday or you just fancy some me-time, get an extra day off for whatever you want.

Holiday Extra

We give you two opportunities each year to buy or sell up to five days of holiday.

Volunteering

Get a day off each year to take part in volunteering activities.

Health cash plan

Claim money back on your healthcare costs, such as dental check-ups and eye tests.

Season ticket loan

We provide interest-free loans to cover the cost of season tickets for rail, bus or car parking.