Job Description:

Capital Actuary

Angel Court, London / Hybrid working with 1-2 days per week in London office

£70,000 base, 10% bonus, Pension, Private Medical Insurance

Permanent / 35 hours a week

A bit about us…

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. Your input will support Bupa to deliver on our purpose, helping people live longer, healthier, happier lives.

Bupa has 43 million customers globally and revenue in 2022 was circa £14 billion. Passionate about sustainability, Bupa’s ambition is to be net-zero by 2040.

About the area you’ll be working in…

We are looking for a nearly or newly qualified Capital Actuary to join our Group Actuarial team at Bupa’s London office. This is a broad role in which you will enjoy significant exposure to our senior leadership teams at Bupa – including our Chief Actuaries and Finance Directors. Further, you will build strong relationships with our global business areas.

What you’ll be doing…

• Plan and deliver the annual capital assessment including developing and maintaining the Economic Capital Model for Bupa Group and Bupa Insurance entity, with particular emphasis on the methodology, risk calibration, dependency/aggregation, validation and analysis of economic capital requirements.
• Assist the modelling and risk calibrations update process, maintain the model documentations and prepare reports of the modelled results in line with Bupa Enterprise Risk Policies and Standards.
• Prepare the analysis and associated investigations to risk calibration models,  participate in workshop discussions with key stakeholders in both insurance and healthcare provision businesses.
• Implement modelling changes to the Capital Modelling platform (Aon ReMetrica) and ensure the underlying change processes are properly controlled, documented and reliably produce required outputs.
• Support the development and embedding of Economic Capital models across Bupa, enabling the capital models to be used as a tool to support business decisions including risk appetite review, investment strategy, capital allocation, capital optimisation and business scenario analyses.
• Analyse capital adequacy regulations to ensure Bupa complies with all relevant regulatory requirements; drive continuous improvement in capital models, data transformation, methods and assumptions, process and controls
• Prepare the capital requirements reporting content for reports to the Executive, Board and Bupa’s regulators e.g. ORSA, SFCR
• Develop business solutions to challenges and opportunities that arise

Who we’re looking for?

• Newly/ nearly qualified Actuary (e.g. IFoA)
• General, Health or Life Insurance background
• Previous exposure to capital modelling techniques and reporting
• Aon Re-Metrica or Aon Tyche software knowledge is an advantage, but not essential
• Gravitas to engage with Executive leaders at Bupa
• Proactive mindset, ability to work independently
• Ambition and drive!

Benefits at Bupa

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. Benefits include:

• 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 & life insurance
• Annual performance-based bonus
• Various other benefits and online discounts

Diversity and Inclusion

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.

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 regardless of disability or circumstance. That’s why we’re happy to offer reasonable adjustments as part of our recruitment process to anyone that needs them.