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Hybrid working options with up to 4 days per week working from home

£35K – £40K + fantastic benefits

Full time 37.5 hours per week

Here you’ll be welcomed. We champion diversity and we understand the importance of our people representing the communities and customers we serve. You’ll find an inclusive environment where you can be yourself and where everyone is driven by the same purpose – helping people live longer, healthier, happier lives and making a better world.

We’re a leading health insurer and healthcare provider, with care homes, health centres, dental practices and a hospital. 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.

We believe in quality, affordable and accessible healthcare for all. Bupa’s Actuarial teams are a vital component in delivering on our purpose, helping people live longer, healthier, happier lives.

This role can be based in our London or Staines office. It’s a great opportunity for a part qualified actuary (0-5 exams) to build a successful career at the UK’s leading healthcare company.

What you’ll be doing…

  • To extract, transform and reconcile data on a monthly basis for use in the actuarial models and/or other analysis.
  • To perform monthly actuarial reserve reviews to calculate the IFRS Technical Provisions (Outstanding Claims Reserves, Unearned Premium Reserves and Unexpired Risk Reserves).
  • To provide an actuarial opinion on the reserves during the month end booking process.  Helping to quantify any deviations in the performance from plan and previous forecasts.
  • To ensure that the IFRS Technical Provisions are calculated in line with the Reserving Standards prescribed by the Bupa Group.  Including data granularity, modelling approaches, sensitivity tests, backtesting, analysis of change, monthly/quarterly/annual reporting templates and governance.
  • To work with internal and external auditors to assist their reviews and ensure that any gaps/actions identified are resolved in a timely manner.
  • To maintain and develop documentation around the IFRS TP process, in line with the internal Data Quality and Model Risk policies.
  • To deliver regular management reporting to senior management.  Providing insights into the claim trends and the drivers of these trends.  This includes reporting of the key LR/Frequency/Severity metrics, split by different diagnosis and business cohorts.
  • Assist in the Planning, IFRS17 and SII TP work that takes place within the wider Technical Actuarial team as required.
  • Support discussions with Pricing, Underwriting, Claims, Finance departments.  Improving the feedback loop between reserving and other business functions.
  • Continually develop and improve the reserving processes where required.

Who we’re looking for?

  • Part-qualified Actuary: completed 0 to 5 exams of IFoA qualifications (or equivalent) or relevant experience
  • Hands on experience of standard actuarial reserving techniques such as Chain Ladder, Bornhuetter-Ferguson and Bootstrapping techniques.
  • Excellent numerical and analytical skills as demonstrated through previous experience within an insurance company.
  • Ability to sense check and validate own work, identify and correct errors.
  • A proactive mindset, experience of challenging requirements and exploring new directions from results of analyses.
  • Ability to build strong relationships with key stakeholders and a proven track record of managing these relationships.
  • Capable of managing own time and workload.  Excellent planning and organisation skills.
  • Strong influencing and communication skills to manage key customer relationships.
  • Excellent in presenting all types of information including complex data.
  • Good technical skills with previous experience in the following tools being preferable:
    • Data: SAS, SQL, VBA, R
    • Reserving: ResQ, IBNRS, Psicle
    • Reporting: PowerBI, Tableau, R Shiny

Why Bupa?

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

Diversity and Inclusion

Bupa is committed to making sure that every applicant is assessed solely on personal merit and qualifications. We actively celebrate the diversity of our colleagues and provide an inclusive environment so you can bring your true self to Bupa. We’ll make sure you are treated fairly. That’s why we’re happy to offer reasonable adjustments as part of our recruitment process to anyone that needs them.

Whether you’ve found your feet or are discovering a new path.

Welcome to a place that celebrates you.

This isn’t where you’ve been.

This is where you’re going.

This is what we have belief in.

  • Job Type: Experienced Job
  • Field of Work: ,
  • Experience Level: Nearly Qualified (11+ exams)
  • Location: Staines or London. Hybrid working options with up to 4 days per week working from home
  • Contract Type: Permanent
  • Employment Type: Full Time
  • Date Posted: 09 Oct 2023
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