Reporting Actuary

Reporting Actuary

Angel Court, London

Hybrid working options

Permanent

Full time 35 hours per week

Salary circa £70,000 per annum depending on experience + 10% bonus and benefits

Closing date for applications 21st March 2025

We make health happen!

Working in our Group function, you’ll play a key part in helping our customer-facing colleagues deliver exceptional standards of customer service and patient care not just in the UK but around the globe.

No matter your role, you’ll have an opportunity to do work that matters. Making a difference to the lives of our customers each and every day by helping shape the strategic direction of our business around the world.

As Reporting Actuary, you will work with the Senior Reporting Actuary and the Capital Reporting Actuary to support the Actuarial Reporting Director to deliver key Finance & Governance outcomes to ensure that:

• Efficient, consistent and compliant actuarial modelling processes are in place and embedded throughout Bupa globally.
• Bupa’s Board and Executive are provided with actuarial analysis and insight to support business steering and transaction assessment.
• Bupa has appropriate actuarial capabilities to achieve Bupa’s purpose.

What you’ll do:

• Support the delivery of the Solvency Capital Requirement (SCR) (and related actuarial items and reports) for Group reporting.
• Help to deliver IFRS 17 and Solvency II Technical Provisions (and related actuarial items and reports) for Group reporting.
• Coordinate the submissions of actuarial reporting data with Market Unit and Business Unit actuarial teams, and lead the engagement with them to ensure accurate, timely submissions and issue resolution.
• Drive continuous improvement in the reserving models, methods and assumptions used by the actuarial community and in the consistency of reporting.
• Support the delivery of the actuarial reporting content for reports to the Executive, Board and Bupa’s regulators (e.g. ORSA Report, SFCR, RSR, QRTs).
• Perform and/or review the analysis and associated investigations (and reports) to measure insurance risk.
• Perform and/or review the analysis and associated investigations (and report) enabling the production of the annual Actuarial Function Report (AFR) for Group.
• Ensure that the team’s tools (e.g. Risk Margin and GSP Calculators etc.) are properly controlled and documented.
• Define user requirements and perform user acceptance tests for change requests.
• Support the Group planning and forecasting process, including stress and scenario testing and ensure the inputs properly reflect Bupa’s risk framework.
• Interpret capital adequacy regulations to understand the implications for actuarial models and capital reporting.

What you’ll bring:

• Newly qualified actuary ideally with experience in general insurance, life & health insurance, or consultancy.
• Regulatory reporting, reserving and actuarial modelling experience, ideally with some of this experience relating to health insurance.
• In-depth understanding of Solvency II regulations, with focus on Technical Provisions and Economic Capital and/or modelling of insurance risk.
• Ability to interpret complex technical actuarial and regulatory requirements.
• Strong prioritisation skills; managing conflicting tasks and deadlines.
• Ability to manage changes in process and toolkits.
• Willingness and relevant skillset to manage a small team.
• Ability to adapt to changing and ambiguous situations whilst delivering high quality results.
• Excellent written and oral communication skills, including experience in the preparation of presentations and papers for Executives and Boards.
• Excellent understanding of financial controls, validation and importance of data integrity.

Benefits:

We are a health insurer and provider. With no shareholders, our customers are our focus. We reinvest profits into providing more and better healthcare for the benefit of current and future customers.

Our benefits are driven by what matters to our people. It’s important to us that these benefits support a work-life balance that keeps people healthy, both mentally and physically. You will be eligible for:

• 25 days holiday, increasing through length of service, with option to buy or sell.
• Bupa health insurance as a benefit in kind.
• An enhanced pension plan and life insurance.
• Annual performance-based bonus.
• Onsite gyms or local discounts where no onsite gym available.
• Various other benefits and online discounts.

Why Bupa?

We’re a health insurer and provider. With no shareholders, our customers are our focus. Our people are all driven by the same purpose – helping people live longer, healthier, happier lives and making a better world.

We encourage all of our people to “Be you at Bupa.” We champion diversity and understand the importance of our people representing the communities and customers we serve. That’s why we especially encourage applications from people with diverse backgrounds and experiences.

Bupa is a Level 2 Disability Confident Employer. This means we aim to offer an interview/assessment to every disabled applicant who meets the minimum criteria for the role. We’ll make sure you are treated fairly and offer reasonable adjustments as part of our recruitment process to anyone that needs them.

Time Type: Full time

Job Area: Finance & Accounting

Locations: Angel Court, London