Head of Predictive Modelling

Octopus Energy

3800

London, UK, USA

Posted on: 2024-08-23

Category: energy

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Expired

Employment type:

Full time

Experience required:

Intermediate

Salary

Salary not provided

About the company:

We're on a mission to make a big green dent in the universe by building a truly sustainable energy system globally.

That means making power greener, smarter, and more affordable for everyone.

We put customers at the heart of everything we do: with always-fair prices, transparency and outrageous customer service.

We drive system change: with transformative tech to make renewable energy the norm and end global reliance on fossil fuels.

Octopus Energy Group is made up of 10 businesses spanning 6 countries across 3 continents, including: Octopus Energy Retail, Kraken Technologies, Octopus Energy Generation, Kraken Flex, Octopus Electric Vehicles, and the Octopus Centre for Net Zero. More on OEG @ octopusenergy.group

What we do. Electric Car Leasing

Why we do it. Greener. Fairer. Future.

Accurately predicting the value of electric vehicles (EVs) at the end of a lease period is challenging due to several factors. The rapid pace of technological advancements in batteries, variations in government incentives, and fluctuating consumer demand make it difficult to forecast how an EV will retain its value over time. Uncertainties surrounding battery life, the evolving charging infrastructure, and the future resale market contribute to the complexity.

You will play a critical role in developing, implementing, refining and owning a world leading predictive model for Electric Vehicle prices, known in the industry as Residual Value. This is a stand-alone role where your expertise in emerging technologies, market dynamics and statistical modelling will drive our ability to enhance the residual value forecasts of our electric vehicles, contributing to world leading strategic decision-making and market competitiveness.

About us

The electric revolution has arrived - and from 2035 you’ll no longer be able to buy a new petrol or diesel car in the UK.

We’re building a whole new way for drivers to join the electric charge and not only learn about and shop for their EV online, but experience a 'lease for life' through an industry changing customer experience. This is the chance to join one of the UK’s most exciting start-ups – making it easy for individuals and businesses to go electric by getting their car, charger and energy all in one cracking deal.

Octopus Electric Vehicles launched in 2018 to make it seamless to switch to cleaner, greener driving. Our mission is to drive sustainable change, decarbonise the planet and provide our customers with fair pricing and a fantastic experience.

We're an Octopus Energy company—an innovative new energy supplier. We are part of the Octopus Energy Group, which seeks to improve the lives of millions of people by transforming the industries we operate in. The Octopus Group incorporates Octopus Energy, Octopus Healthcare, Octopus Investments, Octopus Property, Octopus Ventures and Octopus Labs.

If this sounds like you then we'd love to hear from you.

Are you ready for a career with us? We want to ensure you have all the tools and environment you need to unleash your potential. Need any specific accommodations? Whether you require specific accommodations or have a unique preference, let us know, and we'll do what we can to customise your interview process for comfort and maximum magic!

Studies have shown that some groups of people, like women, are less likely to apply to a role unless they meet 100% of the job requirements. Whoever you are, if you like one of our jobs, we encourage you to apply as you might just be the candidate we hire. Across Octopus, we're looking for genuinely decent people who are honest and empathetic. Our people are our strongest asset and the unique skills and perspectives people bring to the team are the driving force of our success. As an equal opportunity employer, we do not discriminate on the basis of any protected attribute. Our commitment is to provide equal opportunities, an inclusive work environment, and fairness for everyone.

What you'll do

Strategic thinking: produce and own a differentiated and informed strategy for EV valuations in a rapidly scaling market, providing actionable insights and recommendations to senior management including C-suite and board members.

Risk analysis: evaluate potential risks associated with new technologies, including market adoption, regulatory challenges, and competitive threats.

Model development: oversee the design, development, and implementation of a comprehensive world leading Residual Value Model for EVs, utilising the Data Science team.

Data analysis: analyse diverse data sets to estimate the probability of external events and the size of their impact on residual EV prices.

Feature engineering: identify and engineer key features that significantly impact the residual value of EVs, ensuring the model's robustness and accuracy.

Industry insights: stay abreast of industry trends, advancements in EV technology and changes in market dynamics, to continuously enhance the model.

Cross-functional collaboration: work closely across teams including product development, marketing, pricing and fleet operations to align model outputs with business objectives and market strategies.

Senior stakeholder management: Engage with senior management to communicate the complexities of the model in a way to build trust and confidence in the residual value setting process.

What you'll need

Experience with advanced probabilistic modelling and prediction under uncertainty is desirable

Experience working in industries that might affect the value of an Electric Vehicle, for example commodities, would be useful

Curiosity and passion for solving problems at global scale

Flexible mindset able to anticipate a wide range of future scenarios

Highly proficient in data analysis

Willingness to seek out innovative data sources and approaches

Proven record of initiative taking

Success in communicating strategy to senior stakeholders

Why else you'll love it here

Wondering what the salary for this role is? Just ask us! On a call with one of our recruiters it's something we always cover as we genuinely want to match your experience with the correct salary. The reason why we don't advertise is because we honestly have a degree of flexibility and would never want salary to be a reason why someone doesn't apply to Octopus - what's more important to us is finding the right octofit!

Octopus Energy is a unique culture. An organisation where people learn, decide, and build quicker. Where people work with autonomy, alongside a wide range of amazing co-owners, on projects that break new ground. We want your hard work to be rewarded with perks you actually care about! We won best company to work for in 2022, on Glassdoor we were voted 50 best places to work in 2022 and our Group CEO, Greg has recorded a podcast about our culture and how we empower our people

Visit our perks hub - Octopus Employee Benefits

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