Reserving Actuary

Reserving Actuary

London (Angel Court) or Staines (Willow House).
_Hybrid working available_

£58k-72.5k salary DOE & excellent benefits

Permanent contract

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.

Bupa’s purpose is to help people live longer, healthier, happier lives and making a batter world, our Actuarial teams play a key role in helping us deliver on our purpose. In 2019 we appointed a new Chief Actuary, under their leadership we’ve expanded our team and invested in our colleagues, delivering great results for our business.

We believe our Actuarial team shapes the future of our company. With colleagues covering pricing, reserving, modelling and much more they help future proof our business, all the while keeping our customers at the heart of every decision.

Role Overview

BGUK is the combination of the Bupa Global (selling international private medical insurance) and UK Insurance (selling domestic private medical insurance) business units. The Reserving Actuary will work as a member of the BGUK Technical Actuarial team which is responsible for a number of tasks across IFRS4, IFRS17, Solvency II, Planning, Forecasting, Reporting and Claims Analytics. More specifically, the Reserving Actuary will support the Head of Reserving in the end-to-end IFRS reserving process across BGUK. This role will include hands on involvement in all areas of the data, actuarial reserving models, and reporting of results to internal and external stakeholders.

What you’ll do:
- Ensure that the IFRS Technical Provisions are calculated in line with the Reserving Standards prescribed by the Bupa Group.- Assist in the Planning, IFRS17 and SII TP work that takes place within the wider Technical Actuarial team as required.- Actuary compliance - Insurance Risk Policy, regulatory requirements- 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.- Perform monthly actuarial reserve reviews to calculate the IFRS Technical Provisions (Outstanding Claims Reserves, Unearned Premium Reserves and Unexpired Risk Reserves).- Extract, transform and reconcile data on a monthly basis for use in the actuarial models and/or other analysis- Continually develop and improve the reserving processes where required.- Lead discussions with Pricing, Underwriting, Claims, Finance departments. Improving the feedback loop between reserving and other business functions.

What you’ll bring:
- Nearly or newly qualified Actuary (IFoA)- Experience in a health insurance or general insurance company.- Strong influencing and communication skills to manage key customer relationships.- Ability to sense check and validate own work, identify and correct errors.- Hands on experience of standard actuarial reserving techniques such as Chain Ladder, Bornhuetter-Ferguson and Bootstrapping techniques.- Ability to business partner with cross-functional teams at Bupa- Excellent in presenting all types of information including complex data.- Ability to sense check and validate own work, identify and correct errors.

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. As a Reserving Actuary you’ll 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.

Time Type:
Full time