Job Description: Actuarial Analyst Hybrid working with up to 3 days per week working from home Angel Court, London Permanent Salary circa £35K per annum Fantastic benefits including generous pension and healthcare Full time 35 hours per week We make health happen Our Actuarial teams play a key role in helping us deliver on our strategy. Whether your focus is pricing, reserving, modelling or another area we believe in allowing our colleagues to work in a way that suits them. Giving them the time and freedom to keep our customers at the heart of every decision. Bupa has 50 million customers worldwide and revenue of £15 billion (2023). We don't have shareholders at Bupa, which means we're free to invest our profits where they matter: our patients, our facilities, our research, and you. Your input will support Bupa to deliver on our purpose, helping people live longer, healthier, happier lives. As a recent graduate, you’ll have a great opportunity to learn about the healthcare industry. You’ll draw on your analytical skills to support the Senior Capital Actuary to deliver key Group Finance & Governance outcomes: Efficient, consistent and compliant actuarial capital modelling processes are in place and embedded throughout Bupa globally. Bupa’s Board and Executive are provided with actuarial analysis and insight to support business steering and transaction assessment. Bupa has appropriate actuarial capabilities to achieve Bupa’s purpose. This is a broad role in which you will collaborate with many other teams across Bupa’s global businesses and enjoy significant exposure to our senior leadership – including our Group Chief Actuary. How you’ll help us make health happen: As an Actuarial Analyst, you will support the actuarial work to meet the following objectives: Improvement of delivery of Bupa’s Economic Capital Assessment (ECA), with particular emphasis on the calculation and analysis of economic capital, risk calibrations, stress and scenario testing and the assessment of capital risk appetite. Deliver the Economic Capital Assessment for reports to the Executive, Board and Bupa’s regulators (e.g. ORSA Report, Stress and Scenario Testing). This will entail working alongside other Group Finance & Governance teams, local actuarial and finance teams. Support the implementation of initiatives to improve the economic capital modelling capabilities of Bupa (e.g. process efficiency, data quality control) and to ensure regulatory compliance. Support the implementation of initiatives to accelerate revenue growth and optimise Bupa’s risk profile (e.g. internal and external reinsurance optimisation, M&A activities). Be familiar with 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. Produce an environment of continuous improvement to ensure that all actuarial work is conducted to the highest possible standard in the most efficient manner. Continually engage with the actuarial community across the group in a step-by-step and strategic manner to enable the actuarial community to efficiently develop, communicate and share knowledge. Specifically, you will be accountable for the following activities: Perform analysis and associated investigations to deliver the annual Economic Capital Assessment (ECA) for Bupa Group & relevant solo entities, to support business decisions. Support the ongoing model development of Economic Capital Model (ECM) and the associated analysis to deliver the annual Economic Capital Assessment (ECA) for Bupa Group and relevant insurance entities. Assist in the modelling and risk calibrations update process which meets the data quality and model risk standards, prepare the associated analysis of change and perform capital model runs in an efficient and timely manner. Ensure the team's tools (e.g. risk calibration models, analysis of change models, sensitivity testing results comparisons) are properly controlled and documented, and reliably produce required outputs. Perform user acceptable tests for change requests. Assist the capital requirements reporting content for reports to the Executive, Board and Bupa's regulators e.g. ORSA, Stress and Scenario Testing exercise. Assist model documentations (model inventory, process & controls, data directory, expert judgement log) and prepare reports of the modelled results in line with Bupa Enterprise Risk Policies and Standards. Assist 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. Support the team to ensure that all capital modelling 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. Key Skills / Qualifications needed for this role: You will be an ambitious, recent graduate with the following qualification/s and skills: A degree in a relevant field (e.g. Mathematics, Statistics, Actuarial Science, Data Science). Commitment to completing the actuarial qualification with the IFoA. Strong analytical and problem-solving skills. Coding knowledge using R and/or Python is desirable but not essential Excellent communication and interpersonal skills. Proactive mindset, ability to work effectively in a team and independently. Strong ability to manage and prioritise day-to-day activities as delegated. Strong focus on detail and accuracy. 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 per year, pro rata to your contract. • Access to a range of services to support your physical and mental wellbeing • Fixed term benefits allowance • Access to our confidential employee assistance programme • Workplace pension • Online discounts covering your everyday shopping, entertainment, eating out and more. 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 we 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. If you require information regarding this role in an alternative format please email: careersbupa.com Time Type: Full time Job Area: Finance & Accounting Locations: Angel Court, London