A bit about Bupa…
Bupa is a global healthcare company operating across 16 countries which, in 2022 generated revenue of circa £14bn. The group mainly operates through three Market Units – Bupa Global UK (‘BGUK’), Asia Pacific, and Europe & Latin America. In the UK , Bupa is the leading provider of healthcare insurance, serving 2.3 million customers. 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.
About the area you’ll be working in…
The Pricing Risk Actuary role is a new created position, reporting directly to the Chief Commercial Actuary at Bupa. Further to a successful delivery and implementation of an advanced pricing sophistication project in 2022, the need has arisen for a senior leader to oversee pricing governance, decision-making, risk & control. Key to success will be driving the response to ‘Pricing Fairness’ and ‘Consumer Duty’ to support Pricing strategy.
What you’ll be doing…
- Support the Actuary Pricing function through education & awareness of risk and compliance
- Provide expertise on pricing fairness and relevant regulatory requirements
- Development of effective pricing governance, escalating potential concerns
- Facilitate risk and governance related forums – quarterly risk & monthly audit meetings
- Build excellent working relationships with pricing colleagues in 1st and 2nd line of defence
- Liaise with Bupa’s Company Secretary to ensure papers / actions for Board committees are delivered on time
- Manage any pricing related incidents ensuring that key learnings are distilled.
- Ensure compliance with Board Underwriting Control Framework and policies / standards (e.g. Board Risk Appetite, Pricing Principles)
- Represent the Pricing team in other forums where fairness is a key input e.g. Consumer Duty.
- Embed a culture that ensures the prioritisation and delivery of good customer and regulatory outcomes
Who we’re looking for?
- Senior Risk professional with Actuarial experience (ideally Pricing)
- Significant experience of designing & implementing governance frameworks
- Track record of working in FCA or Financial Services regulated environment
- Demonstrable understanding of Risk Management
- Excellent senior stakeholder management skills
- Ability to communicate and negotiate at all levels
- Good organisational skills & ability to motivate people across the organisation
- Solutions-focused to assist the business on moving forward with effective controls
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 (option to buy or sell days)
- 25% Management Bonus Scheme (annual, discretionary)
- Bupa health insurance as a benefit in kind
- An enhanced pension plan & life insurance
- Onsite gyms or local discounts where no onsite gym available
- 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.