Admiral Financial Services Ltd (AFSL) is a wholly owned subsidiary of Admiral Group PLC (Admiral), the FTSE 100 insurer.  AFSL offers personal loans and car finance products to consumers in the UK. 

Changes to the UK insurance sector mean Admiral has sought to diversify and grow the scope of the services it offers to consumers.  Drawing on the Company’s established reputation for customer service and seeking mutually compatible alignment with its existing product portfolio, in summer 2016 the Board agreed to support the establishment of a “substantial” lending division led by Scott Cargill and supported by an independent board – AFSL.

Since inception, AFSL has enjoyed continued growth in both the personal loans and car finance businesses.  The business has lent approximately £500 million to date and lends about £50 million per month.  AFSL currently has a team of approximately 140 people.

In 2018, AFSL was awarded Best Newcomer in the Consumer Credit Awards and Highly Commended (second place) in the Personal Loans Category at the Moneyfacts Awards, which is voted for by customers.  The business has built a strong infrastructure and foundation and is now in a ‘scale up’ phase.

AFSL is a technology-driven, highly consumer focused business.  It has the culture and disruptive mentality of a start-up business but within an established FTSE 100 company behind it.  It is well capitalised and has the resources and strategy to expand significantly.

AFSL is authorised and regulated by the Financial Conduct Authority.  The business is headquartered in Cardiff.

COMPANY BACKGROUND – ADMIRAL GROUP PLC

Admiral is a leading FTSE 100 financial services company with a presence in eight countries.  The Company was set up in 1993 as a car insurance specialist, but since then has expanded in other countries and other insurance verticals such as household and travel insurance, in loans, price comparison platforms, and has developed innovative products.

Admiral was co-founded by Henry Engelhardt and David Stevens (current Group Chief Executive Officer), and the Group Chief Executive Officer-designate, Milena Mondini, will be taking over the reins in March 2021.

Admiral is agile, innovative and not afraid to test new ideas.  During the early 2000’s, Admiral created the first price comparison website, and now heads the largest network of price comparison platforms in the world.

The Group launched AFSL, focused on personal loans, in 2017.  It utilises the learning gained from Admiral’s experience within the insurance sector, and has a focus on data analytics, technology, customer-centricity, and product innovation.

More recently, Admiral has launched new Insuretech propositions, such as Veygo and Homebrella focused on millennials and microinsurance.  To provide further resource for business development, a new arm was recently set up called Admiral Pioneer, tasked with exploring and investing in new ventures and emerging consumer needs.

The Group has seven million customers worldwide and employs over 11,000 people across its operations.  Admiral is a growth story with an enviable track-record of strong financial performances, ROE consistently over 50%, a turnover of £3.5 billion and a profit before tax of £520 million in 2019.

COMPANY CULTURE

Admiral’s philosophy is that “people who like what they do, do it better,” and Admiral is proud to offer an open culture where achievement is rewarded and recognised and where coming to work is exciting every day.  In 2019, Admiral received a special award from “Best Companies to Work For” as the only company to feature within their rankings since they began 20 years ago: a true testament to the Group’s culture.

ROLE PURPOSE AND ACTIVITIES

• Reporting into the CFO, this position will oversee UK funding activities of Admiral Financial Services
• Optimise cost of funds by running competitive processes for new funding arrangements and through transaction structure
• Support business growth by executing new funding transactions of different forms, including forward flow, risk share, warehouse and public ABS
• For all funding agreements ensure reporting and other contractual requirements are met
• As required to meet business objectives, negotiate and implement amendments to existing facilities
• Manage liquidity by forecasting cash flow and taking actions to meet business minimum requirements
• Lead financing projects to ensure delivery on time, on cost and in line with business objectives

KNOWLEDGE & EXPERIENCE

• Experience in public and private debt raising
• Understanding of relevant financing structures
• Previous experience in a leadership role
• Strong communication skills and stakeholder management
• Commercial and analytical mindset
• Excellent organisational skills, with the ability to work under pressure and prioritise key deliverables
• Relevant financial services experience within lending

QUALIFICATIONS REQUIRED

• Batchelor’s degree or equivalent

SALARY, BENEFITS AND WORK-LIFE BALANCE

We do not have a set salary for this position, as it will be dependent on the successful candidate’s experience. We are happy to see CVs from all candidates who meet the requirements, and will be happy to discuss the remuneration package.

At Admiral, we are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure employees have a great work-life balance; it's one of the reasons we're voted as one of the Sunday Times Best Big Companies to Work For in the UK. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.

The Recruitment Officer looking after this role is Kyle Meacock. If you have any queries about this position, please feel free to drop them an e-mail. 

Please note, we are not accepting CV’s from agencies for this role. Agencies on our PSL should only send CVs if asked to do so by the Recruitment team.

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