Product Development Actuary

Job Description:

Product Development Actuary

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

Staines, Angel Court – London or Salford Quays - Manchester

Permanent

Salary £72,300 - £90,300 dependant upon experience

Fantastic benefits including generous pension, healthcare and 10% Management Bonus Scheme

Full time 37.5 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.

The Product Development Actuary is an exciting new role supporting both Bupa's UK Insurance and Bupa Global business units. Here, you’ll be part of the pricing projects team, responsible and accountable for providing product development and pricing support to a
wide variety of projects across the business. You will play a key role in shaping new and existing products by applying actuarial techniques, developing robust assumptions and supporting the implementation of initiatives.

The pricing team is responsible for developing and delivering the pricing strategy in support of Bupa's strategic goals.

How you’ll help us make health happen

Key duties include:

• Leading and contributing actuarial input into product & proposition development projects, including benefit design, underwriting features, pricing structures and customer outcomes.

• Assessing the financial, commercial risk and customer impact of proposed product and proposition changes, highlighting key sensitivities and downside risk analysis to support decision making.

• Engaging & influencing colleagues in other teams such as Sales, Finance, Product & Proposition, Clinics and Healthcare Analytics on a range of projects and initiatives.

• Providing actuarial oversight during implementation, including post-launch monitoring, review of emerging experience and identification of actions where outcomes diverge from expectations.

• Managing priorities across a diverse portfolio of projects, applying professional judgement to balance pace, quality, risk and stakeholder needs.

Key Skills / Qualifications needed for this role:

The role holder is expected to have the following experience and qualification/s:

• Qualified Actuary (FIA or equivalent)

• Significant experience of working in Financial Services

• Significant experience in Health Insurance is an advantage

• Excellent communication skills, including the ability to present technical information and ensure it is understood by various stakeholders

• Adaptability to handle a wide variety of different projects and prioritise and manage multiple tasks

• Awareness and understanding of the wider business, economic and market environment in which Bupa operates.

• An appropriate level of awareness and understanding of Bupa’s strategy and business model.

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 takes pride in being a Level 2 Disability Confident Employer and will aim to offer an interview/assessment to disabled applicants who best meet the minimum criteria for the role. We’re committed to ensuring you’re treated fairly during the recruitment process and offer reasonable adjustments to anyone who may benefit from accommodations to the recruitment process. 

If you require information regarding this role in an alternative format, please email: [email protected]

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