Reporting Actuary

Job Description:

Reporting Actuary

Hybrid working – two days per week required on site Angel Court, EC2R 7HJ

12 month fixed term contract

Competitive salary + fantastic benefits, including up to 10% bonus

Full time - 35 hours per week  

Please ensure that an up-to-date CV is uploaded with your application.

We make health happen

At Bupa, our purpose is simple: helping people live longer, healthier, happier lives and making a better world.

As Reporting Actuary you’ll play a key role in supporting our mission by guiding the business to use technology that strengthens the efficiency of our Actuarial Systems reporting.

We are looking for an experienced qualified actuary to join Group Actuarial on a fixed-term contract basis until the end of 2027. The role will provide additional actuarial capacity during an important period of transition, supporting core BAU activity across areas such as Group actuarial reporting, economic capital, Group Specific Parameter (GSP) and related regulatory deliverables while the permanent team supports the testing and onboarding of new processes developed as part of our ActuVate transformation programme.

How you’ll help us make health happen:

You will support a range of actuarial activities, flexing between priorities as needed:

• Supporting the actuarial content for reports to the Executive, Board and Bupa’s regulators, including ORSA, stress and scenario testing, SFCR, RSR and QRTs, working with Group Finance, Governance and local actuarial and finance teams.

• Contributing to BAU actuarial reporting and analysis, including technical provisions, insurance risk measurement, pricing and reinsurance adequacy, stress and scenario testing, solvency capital requirement and economic capital assessment.
• Helping maintain, improve and document actuarial models, data, methods, assumptions, processes and controls, ensuring outputs remain robust, efficient and compliant with relevant policies and regulatory standards.
• Engaging with the actuarial community across Bupa to gather inputs, resolve issues, share knowledge and support consistent delivery.

• Interpreting prudential regulatory requirements and support updates to actuarial models and processes where needed.

Specifically, you may support activities across the following areas, depending on business priorities:

• Supporting the delivery of Technical Provisions, SCR and related actuarial reporting for Group in accordance with Bupa timetables and approved methodology, including engagement with MU/BU actuarial teams to support accurate and timely submissions and issue resolution.
• Performing and/or reviewing the analysis and associated investigations (and reports) to measure insurance risk including the calibration of the GSP for premium risk, in accordance with Bupa timetables and approved methodology.
• Performing and/or reviewing the analysis and associated investigations (and report) enabling the production of the annual Actuarial Function Holder's (AFH) report for Group, considering the adequacy of technical provisions, premium sufficiency, and appropriateness of reinsurance, in accordance with Bupa timetables.
• Performing analysis and associated investigations to deliver the annual Economic Capital Assessment (ECA) for Bupa Group to support business decisions. Assist the modelling and risk calibrations update process, methodology changes, analysis of change, sensitivity testing and validation of results which meets the data quality and model risk standards.
• Supporting the operation, control and documentation of actuarial tools, including Risk Margin and GSP calculators, TP consolidation and adjustment tools, IFRS 17 Risk Adjustment calculator, SCR models and ECA models, in line with relevant model risk and control requirements.
• Ensuring that all actuarial reporting work is undertaken in compliance with the relevant enterprise Policies and Standards, including but not limited to those relating to SII Data Quality, Model Risk, Insurance Risk, Regulatory Reporting & Disclosure, Expert Judgement and Materiality.
• Supporting Group’s planning and forecasting process, including stress and scenario testing and ensure the inputs properly reflect Bupa’s risk framework.

• Engaging with Group Finance, Market Unit teams and provide actuarial advice as appropriate.

What you'll bring:     

• Strong actuarial fundamentals, with experience in reporting, reserving, capital modelling, insurance risk or related actuarial analysis.

• Good understanding of Solvency II, UK prudential regulation or equivalent actuarial reporting frameworks, with an ability to learn new areas quickly.

• Ability to interpret complex technical actuarial and regulatory requirements.

• Ability to prioritise work effectively, managing conflicting tasks and deadlines.

• Comfort working through changes in processes, tools and ways of working as new ActuVate processes are tested and embedded.

• Collaborative working style, with a willingness to support colleagues, pick up new tasks and contribute wherever capacity is most needed.

• Ability to adapt to changing and ambiguous situations whilst delivering high-quality results.

• Clear written and oral communication skills, with the ability to summarise technical analysis for senior stakeholders.

• Excellent understanding of financial controls, validation and importance of data integrity.

• Excellent knowledge of Excel, Word and PowerPoint.

Benefits

Our benefits are designed to make health happen for our people. Viva is our global wellbeing programme and includes all aspects of our health – from mental and physical, to financial, social and environmental wellbeing. We support flexible working and have a range of family-friendly benefits.

Joining Bupa in this role you will receive the following benefits and more:

• 25 days holiday, increasing through length of service, with option to buy or sell
• Access to our wellbeing programmes and mental health support
• Bonus scheme
• Pension scheme
• Discounts on Bupa products and services
• Opportunities for career development and internal mobility

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 make health happen by being brave, caring and responsible in everything we do.

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.

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