Prudential Risk Manager

Bupa; City Of London; On-site; GBP 68,000 - 85,000; Full time

Job summary

A leading health insurer is looking for an experienced Prudential Risk Manager to oversee financial risk activities and support the Head of Prudential Risk. You will ensure compliance with regulatory standards and shape risk management frameworks. The ideal candidate should be a qualified actuary with strong risk management experience, particularly in the insurance sector. This position offers a salary range of £68,800 to £85,000 per year plus benefits including a 10% bonus and health insurance.

Benefits

25 days holiday, increasing through length of service

Bupa health insurance

Enhanced pension plan

Life insurance

Onsite gyms or local discounts

Various other benefits and online discounts

Qualifications

• Experience in Insurance, particularly Health & Care.
• Experience with risk management within an insurance business or consultancy.
• Experience with Model Validation beneficial.
• Ability to identify key actions from complex information.

Responsibilities

• Support and challenge management through oversight of financial activities.
• Deliver second-line validation of numbers for the Own Risk and Solvency Assessment.
• Provide risk management best practice guidance.
• Develop financial and insurance elements of the Risk Management Framework.
• Foster a culture of good customer and regulatory outcomes.

Skills

Qualified actuary

Risk management experience

Model Validation

Knowledgeable about regulatory frameworks

Analysing complex information

Stakeholder management skills

Confident communicator

Governance and oversight

Continuous improvement

Education

Qualified actuary certification

Job description

Overview

Prudential Risk Manager

Locations: Manchester, Leeds, London or Brighton

Full time 37.5 hours

Permanent

Salary £68,800 to £85,000 per annum (DOE)

10% Bonus and excellent Bupa Benefits

Advert closes Wednesday 5th November 2025

We make health happen

We’re a health insurer and provider with no shareholders, so our customers are always our focus.

Responsibilities

You’ll sit within our Financial & Insurance Risk team and support the Head of Prudential Risk. You’ll be part of a team that provides oversight and challenge across Bupa’s UK-regulated insurance entities and global trading operations. It’s a chance to make a real impact on how we manage financial and insurance risk, ensuring we operate within our risk appetite and regulatory expectations. You’ll work closely with Finance and Actuarial teams, helping to shape our risk frameworks and support decision-making at the highest levels.

• Support and challenge management through oversight of solvency, capital, liquidity, financial reporting, stress testing and insurance risk activities across Bupa’s UK and global insurance entities

• Deliver second-line validation of numbers supplied for the Own Risk and Solvency Assessment (ORSA) from finance functions.

• Provide advice and guidance to Finance and Actuarial teams on risk management best practice, including around Model Risk.

• Develop and promote financial and insurance elements of the Risk Management Framework (RMF)

• Facilitate and support risk management activities including RCSA, emerging risks, and incident analysis

• Deliver deep-dive assurance activities over strategic priorities and initiatives

• Support the Head of Prudential Risk in providing technical interpretation of PRA/EIOPA rules and guidance

• Contribute to the potential adoption or consideration of development of a partial internal model, including opining on the effectiveness of project plans and delivery execution of such a model.

• Promote a culture of good customer and regulatory outcomes

• Foster a positive culture of confident and informed risk-taking through training, communication and promotion of the agreed risk framework.

• Build strong relationships across Finance, Actuarial and Risk teams

Key Skills/Qualifications

We’re looking for someone who’s:

• A qualified actuary (essential) with experience in Insurance, and particularly Health & Care (beneficial).

• Experienced in risk management within an insurance business (1st, 2nd or 3rd line) or consultancy environment.

• Experience with Model Validation would be beneficial

• Knowledgeable about regulatory frameworks including Solvency II

• Skilled in analysing complex information and identifying key actions

• Commercially minded with strong judgement and stakeholder management skills

• A confident communicator who can influence and motivate others

• Experienced in governance, oversight and controls

• Committed to delivering good customer and regulatory outcomes

• Able to foster a culture of continuous improvement and collaboration

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, 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

• Onsite gyms or local discounts where no onsite gym available

• Various other benefits and online discounts

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.

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

Time Type: Full time

Job Area: Legal, Risk & Audit

Locations: Angel Court, London, Bupa Place