Head of Prudential Risk

TN United Kingdom; London; Hybrid; GBP 70,000 - 110,000; Full time

Job summary

An established industry player is seeking a Head of Prudential Risk to oversee solvency, capital, and financial risk management. This pivotal role involves leading a team to ensure robust risk management practices, conducting stress testing, and advising on risk management strategies. The ideal candidate will be a qualified actuary with extensive experience in financial services, particularly in life, general, or health insurance. Join a company dedicated to promoting health and wellbeing, and enjoy a supportive culture that prioritizes employee development and flexible working arrangements.

Benefits

Generous contributory pension scheme

Family health insurance

Life insurance

25 days annual leave

Qualifications

• Qualified Actuary with extensive post-qualification experience.
• Strong knowledge of Solvency II and prudential risk regulations.

Responsibilities

• Lead development and implementation of Risk Management Framework.
• Conduct 2nd line validation for Own Risk and Solvency Assessment.
• Provide regular risk reporting for executive decision-making.

Skills

Solvency II

Risk Management

Financial Reporting

Analytical Skills

Stakeholder Management

Leadership

Education

Qualified Actuary

Job description

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Head of Prudential Risk

Location: London / Hybrid

Type: Permanent

Hours: 37.5 hours per week

Salary & Benefits: Competitive salary & bonus / benefits

About Bupa

At Bupa, our purpose is to help people live longer, healthier, happier lives and make a better world. We make health happen.

Role Overview

As the Head of Prudential Risk, you will oversee solvency, capital, financial reporting, and financial risk management at Bupa Insurance Limited (BINS). You will lead the Financial & Insurance Risk Management Team, ensuring robust risk management practices that support our mission to deliver excellent customer outcomes.

Key Responsibilities

1. Lead the development and implementation of the Risk Management Framework (RMF) for financial and insurance risk.
2. Conduct 2nd line validation of figures for the Own Risk and Solvency Assessment (ORSA).
3. Advise on risk management to Finance and Actuarial functions.
4. Oversee risk processes, the Integrated Management System, and SAI 360.
5. Lead assurance activities for material financial and insurance risks.
6. Provide regular risk reporting for executive decision-making.
7. Conduct stress and scenario testing, and oversee pricing and commercial activities.

Candidate Profile

• Qualified Actuary with extensive post-qualification experience in Life, General, or Health Insurance.
• Strong knowledge of Solvency II, prudential risk, and regulations.
• Senior-level experience in financial services.
• Proven track record managing financial and insurance risks and controls.
• Excellent analytical skills for risk assessment and mitigation.
• Effective communication and stakeholder management skills.
• Leadership experience, with a focus on team development and positive culture.

Benefits

Our benefits aim to promote health and wellbeing through our Viva programme, supporting mental, physical, financial, social, and environmental health. We support flexible working and offer family-friendly benefits.

• Generous contributory pension scheme
• Family health insurance
• Life insurance
• 25 days annual leave, with options to buy or sell 5 days

Why Join Bupa

As a health insurer and provider without shareholders, our focus is on our customers. Our people are driven by the purpose of helping people live longer, healthier, happier lives. We foster a culture of bravery, care, and responsibility in all we do.