Running Head: BUPA ARABIA 1 BUPA ARABIA15 Internship Report 1 Lara Hamzah 1310042 BNFN 4303 Internship Banking and Finance Instructor: Ms. Dunia Mamlouk Tuesday, March 12, 2019 Executive Summary An internship provides learners with an opportunity of applying the theory they learn in class into a practical shape. In this regard, the internship provides great benefits to the students who desire to obtain critical knowledge in the corporate world as it presents them with real-work experience. The intern is engaged in the internship practice from 6th January, 2019 to 30th March, 2019. Bupa is a globally recognized institution that provides such services in healthcare as insurance funding, health care in clinics and hospitals, as well as aged care in villages and cares. Bupa seeks to be the Health and Care leader in Saudi Arabia by taking care of the lives of its customers. ( ADD HERE MORE MAKE IT ONE PAGE ) Table of Contents Introduction4 Internship Objectives:4 Objectives for The Intern4 Internship Organization Objective5 University Objective5 Internship Scope5 Background About Internship Organization (Bupa Arabia)6 i)Mission6 ii)Vision6 iii)Values6 iv)Profile6 v)What Bupa Does7 vi)Bupa’s People7 vii)Achievements7 viii)Purpose8 Bupa Arabia Branches in Saudi Arabia8 Employees Headcount of Bupa in Saudi Arabia8 Financial Information of Bupa9 Financial Statement of Bupa9 Services That Bupa Provide in Saudi Arabia10 Functions of Finance Operations10 What Does Finance Operations and Reporting Department do IN BUPA ARABIA?11 Summary of My Role in Finance Operations and Reporting12 Provider Payments12 Refunded and Reimbursed Payment:14 Brokers Commission Payment:14 Supplier Payment (Vendor Payments)15 Why Finance Department Is Important in Bupa and in Every Company?16 Challenges That I faced While I am Working at Account Payable - Finance Operations and Reporting Department16 Solution s for These Challenges16 Conclusion18 Appendix19 Introduction Internships are critical as they offer learners with practical work experience, whereby it offers them an experience of understanding classroom information and theories in a more efficient way. In addition, different internship programs offer learners with an opportunity of preparing for the transition from learning institutions to the workplace. As such, a student will be able to develop and grow personal contacts and relationships that may lead to an opportunity for job replacement, because its helps in building good communication skills, leadership, and confidence as one works with others. Through performing well and exceeding expectations in the internship, a student creates a great impression that is critical in providing a great reference letter at minimum, in addition to potential outcome of employment offer. Internship Objectives: Objectives for the Intern ·  To develop employer-value skills that include attention to detail, communications, and teamwork. · Exposure .

1. Running Head: BUPA ARABIA 1
BUPA ARABIA15
Internship Report 1
Lara Hamzah
1310042
BNFN 4303 Internship Banking and Finance
Instructor: Ms. Dunia Mamlouk
Tuesday, March 12, 2019
Executive Summary
An internship provides learners with an opportunity of applying
the theory they learn in class into a practical shape. In this
regard, the internship provides great benefits to the students
who desire to obtain critical knowledge in the corporate world
as it presents them with real-work experience. The intern is
engaged in the internship practice from 6th January, 2019 to
30th March, 2019. Bupa is a globally recognized institution that
provides such services in healthcare as insurance funding,
health care in clinics and hospitals, as well as aged care in
villages and cares. Bupa seeks to be the Health and Care leader
in Saudi Arabia by taking care of the lives of its customers. (
ADD HERE MORE MAKE IT ONE PAGE )

2. Table of Contents
Introduction4
Internship Objectives:4
Objectives for The Intern4
Internship Organization Objective5
University Objective5
Internship Scope5
Background About Internship Organization (Bupa Arabia)6
i)Mission6
ii)Vision6
iii)Values6
iv)Profile6
v)What Bupa Does7
vi)Bupa’s People7
vii)Achievements7
viii)Purpose8
Bupa Arabia Branches in Saudi Arabia8
Employees Headcount of Bupa in Saudi Arabia8
Financial Information of Bupa9
Financial Statement of Bupa9
Services That Bupa Provide in Saudi Arabia10
Functions of Finance Operations10
What Does Finance Operations and Reporting Department do IN

3. BUPA ARABIA?11
Summary of My Role in Finance Operations and Reporting12
Provider Payments12
Refunded and Reimbursed Payment:14
Brokers Commission Payment:14
Supplier Payment (Vendor Payments)15
Why Finance Department Is Important in Bupa and in Every
Company?16
Challenges That I faced While I am Working at Account
Payable - Finance Operations and Reporting Department16
Solution
s for These Challenges16
Conclusion18
Appendix19
Introduction
Internships are critical as they offer learners with
practical work experience, whereby it offers them an experience
of understanding classroom information and theories in a more
efficient way. In addition, different internship programs offer
learners with an opportunity of preparing for the transition from
learning institutions to the workplace. As such, a student will be
able to develop and grow personal contacts and relationships
that may lead to an opportunity for job replacement, because its
helps in building good communication skills, leadership, and
confidence as one works with others. Through performing well

4. and exceeding expectations in the internship, a student creates a
great impression that is critical in providing a great reference
letter at minimum, in addition to potential outcome of
employment offer. Internship Objectives: Objectives for the
Intern
· To develop employer-value skills that include attention to
detail, communications, and teamwork.
· Exposure to the expectations and environment of performance
in a particular professional field practice that is related to the
intern’s career.
· To enhance and expand the knowledge of the intern in the
respective career field.
· To obtain professional mentors or role models who provide
necessary support that shapes the behavior expected at
workplace.
· To increase proficiency in particular career disciplines.
· To develop and improve professional and technical skills such
as teamwork, quantitative reasoning, technology, and
communication. Internship Organization Objective
· Practical experience in banking and accounting
· Time management.
· Meeting the target and setting up goals.
· Problem solving.
· To provide trainees with critical experience that improves
their skills in a real-working environment.

5. · To help in the improvement of the analytical and behavioral
skills of the interns.University Objectives
The primary goal of having an internship program for a
university is to provide the students with learning professional
activities, abilities, and skills that are critical in rehabilitation
of interns whereby they are supported such that they can
develop social, career, recreational, physical, psychosocial, and
independent living skills. The internship program also helps
interns in their career development through the provision of real
work experience that given the learners an opportunity of
exploring their interests as well as developing professional
competencies and skills.Internship Scope
The internship has been placed at Bupa Arabia, Jeddah.
Starting from 6th of January 2019 to 30th of March 2019. Daily
working hours beginning from 08:30 AM and ending at 05:30
PM, 5 days a week from Sunday to Thursday. In addition, my
training role situated in accounts payable under financial
control, finance operations department.
Background About Internship Organization (Bupa Arabia)
Mission – To be the Health and Care leader in Saudi Arabia by
taking care of the lives in our hands.
Vision – Taking care of the lives in our hands.Values
Passionate – full of energy and inspired to serve their
customers.
Caring – compassionate and big hearted as they treat other

6. people with kindness and respect.
Openness – finding new ideas and new perspectives. Shares
ideas freely, listens, understands, and embraces diversity.
Authentic – being true, honest, and genuine.
Accountable – always responsible and takes ownership of the
outcomes.
Courageous – bravery, daring, and speaking up.
Extraordinary – going over and above the call of duty thus
delivering outstanding results.Profile
Bupa has vested great interest in the development and wellbeing
of all its working staff through providing them with a similar
standard of professionalism, support, and care, which is
expected to be replicated to the customers. The company is also
proud of being one of the largest employer of Women in Saudi
Arabia, and has portrayed great commitment towards helping
them grow and develop as business professionals (McDaid &
Park, 2011). In this regard, the institution has provided
workplace opportunities and facilities that have been voted as
No.1 company that is most favorable for work by women in
Saudi Arabia. The company has also been honored by the Saudi
Ministry of Social Affairs for its corporate social responsibility
(CSR) efforts, which has greatly contributed to improved
provision of healthcare insurance to over 3,000 orphans in the
Kingdom (de Vries, 2011).What Bupa Does (TALK ABOUT
TEBTOM AND RAHTKOM SERVICES IN GENERAL, DON’T

7. FORGET THE REFERENCE )
The company strives to be the partner to the healthcare of the
customers. As such, it differentiates itself through providing
quality services that give the customers access to the best
healthcare facilities, in addition to facilitating a more
comfortable healthcare experience. Bupa also offers health
insurance services and products that are essential in catering for
the needs of the small and medium enterprises, government
institutions, Kingdom’s corporations, as well as its employees
(de Vries, 2011).
The products and services provided by Bupa are a
representation of a lifetime of care, which starts at the prenatal
life stage, on through maternity, as well as the later life stages.
As such, the company seeks to help its members make life
choices that are healthier through establishment of programs
that are carefully designed. (de Vries, 2011). These include the
Rahatkom and Tebtom offerings. The company has an
uncompromising commitment towards serving the customers, an
attribute that has enabled the company to realize an unparalleled
growth over the years. Bupa’s People ( TALK ABOUT BUPA
ARABIA PEOPLE BESIDE BUPA INTERNATIONAL PEOPLE,
DON’T FORGET THE REFERENCE )
Bupa remains to be an international healthcare company. Bupa
has more than 15.5 million health insurance customers, and
provides healthcare to at least 14.5 million individuals in its

8. hospitals and clinics (Ansari, 2011). Moreover, the company
looks after more than 22,000 aged care residents in its homes
and villages.Achievements
Bupa has received a number of regional and international
nominations and awards. The most recent achievements include:
Best Medical Insurance Company 2017 – International Finance
Magazine (2018 award).
Best Investor Relations Saudi Arabia 2017 – International
Finance Magazine (2018 award).
Ranked 1st in Saudi Arabia in the Corporate Governance Index
(CGI) rankings, for Public Disclosure & Transparency, and also
the no 1 ranked insurance company, in the overall CGI rankings
list, ranked 9th of all Saudi listed companies, and in the top 10
overall rankings for the second successive year since the awards
began, at the AlFaisal University’s second Annual Corporate
Governance Conference, for strong Corporate Governance
practices during 2016 (2018 award) (Ansari, 2011).
Runner up in the Lean Transformation Category of the inaugural
Four Principles Kaizen Awards of 2018.
Ranked 13th in the Saudi Arabia’s Great Workplaces of 2017
awards (2018 award).
Ranked 8th most powerful brand in Saudi Arabia and the
number one insurance brand – MISK foundation at the NEXT
festival (2017 award) (Ansari, 2011).
Ranked 37th of the best 100 companies in Saudi Arabia by Al-

9. Eqtisadeya (2017 award).Purpose
Bupa’s purpose is to help individuals live happier, healthier,
and longer lives. Although the company does not have
shareholders, it greatly focuses on its customers. Bupa has
reinvested its profits into provision or more and better
healthcare for the good of its current and future customers.Bupa
Arabia Branches in Saudi Arabia
Bupa Arabia has 6 branches in Saudi Arabia which located in
Riyadh, Khobar, Madinah, Buraidah, and 2 branches in
Jeddah.Employees Headcount of Bupa in Saudi Arabia
In Saudi Arabia, Bupa has over 200 employees, and the
company has protected them together with their families
through provision of a quality health cover (de Vries,
2011).Financial Information of Bupa (WRITE IT IN
DECEMBER 31,2018 NOT 2017)
The financial information of Bupa that is available regards to
the company’s performance for the year ending December 31,
2017.
Capital - $6,826.7 million
Total Assets - $14,465.4 million
Profit for the financial year - $570.9 millionFinancial
Statement of Bupa
Statement of financial Position (Unaudited) as at September 30,
2018
SAR’000

10. Total Assets9,086,725
Total Liabilities6,575,318
Total Equity2,511,407
Total Liabilities and Equity9,086,725
Statement of Income (Unaudited) for 9-month period ended
September 30, 2018
SAR’000
Net Revenues Earned6,007,411
Total Underwriting costs and expenses(5,037,477)
Total other operating expenses (496,163)
Net Income for the Period 473,771
Services That Bupa Provide in Saudi Arabia (WRITE
RAHATKOM AND TEBTOM SERVICES IN DETAILS, WHAT
EACH OF THEM PROVIDE AND SO ON)
The origin of Bupa is provision of health insurance, which
remains one of the critical services provided by the company.
Bupa also engages in delivery of healthcare services that have
complemented the position of the company in health insurance,
which gives it a greater insight regarding the performance of
health systems as well as enhancing the company in terms of
delivery of outstanding customer experience (Ansari, 2011).
Critical products and services provided by Bupa include funding
through insurance services, provision of healthcare in clinics
and hospitals, as well as provision of aged care through
retirement villages and care homes (Alkhamis, Hassan &

11. Cosgrove, 2014).Functions of Finance Operations
Finance Operations & Reporting
Collection Services Credit Control
Financial Control
SME Corporate Lapsed Credit
Allocation Data Accounts Financial Asset
& Control
Analysis Payable Reporting Management
Broker
& Staff & bank ops
· Credit Control
Credit control make decision about the late and unpaid
contracts.

12. Allocation allocate the receivable funds under the client’s
contracts.
Data analysis analyze all the outcomes from sales and collection
to prepare the commotions for the brokers.
· Collection Services Control
SME (Small and Medium Enterprise) and corporate and broker
collect Bupa Funds from the Clients, make Reminder, and
following for the coming installments.
· Lapsed Manage the late and unpaid Installments.
· Financial Control:
· Accounts payable do the payments for suppliers’ payments,
providers payments, broker payments, refund and
reimbursement payments.
· Financial reports prepare the financial statement for SAMA
(Saudi Arabian Monetary Authority).
· Staff benefits pay all the internal funds including payroll,
expense claim, and travel expenses.
· Asset management mange and count Bupa Arabia assets and
labilities.
· Bank operations reconcile funds payable and receivable. What
Does Finance Operations and Reporting Department do IN
BUPA ARABIA?
· Control all the funds, operate the financials and cash flow, and
report all the financials regarding to SAMA or internal.
· Maintaining great relationships with vendors, and ensuring

13. that timely payment to the vendors is done.
· Accounting and tracking the receivables, which includes the
invoices and all other required collection functions
· Ensuring that all the employees are paid timely and accurately.
· The department also ensures accurate collection of financial
data, preparation of financial statements, and reporting them
accurately, which helps in creation of budget, forecasts, and
other processes for decision making.Summary of My Role in
Finance Operations and Reporting
Finance Operations & Reporting
Collection Services Credit Control
Financial Control
SME Corporate Lapsed Credit
Allocation Data Accounts Financial Asset
& Control

14. Analysis Payable Reporting Management
Broker
& Staff & bank ops
Operations
Finance Operations and Reporting Financial Control Accounts
Payable
Account Payable
Provider Refund and
Brokers Supplier
Payments Reimbursement
Commission PaymentsProvider Payments
It’s a daily payments function that enable Bupa to process and
monitor all various types of provider (Hospital) payments Local
and International which impacts medical claims cost.
Types of Payment

15. Local
International
Prompt Payment Full and
Final Signed Statement
Payment
· There are three different types of payments which are Prompt
payment, Full and Final payment, and Signed Statement
payment. These three types it could be local payments or
international payments.
Prompt payment: Agreement between Bupa and the provider on
a discount if it is paid early on a certain period.
Full and Final Payment: Final settlement to be paid which has
multiple batches.
Signed Statement Payment: Final settlement to be paid which
has individual batch.

16. Process:
1. Monitored and controlled all hospital payment recovery.
2. Processed international provider payment through direct bank
(HSBCnet).
3. CEACAR to ACCPAC (Finance Operational Software and
Accounting Software) journal mapping process and ensure all
the entries are correctly allocated in the GL (General Ledger).
4. Received the payments from provider control (commercial
actuarial).
5. Made accounting entries based on the bank statement.
6. Made the Monthly closing regarding to the bank statement
reconciling.
7. Responded to all query related to provider payment (Payment
Conformation and Transaction Receipt).Refunded and
Reimbursed Payment:
· Refund: Refunded the remaining amount to the client for the
canceled contract.
1. Received the refund form from account receivable team.
2. Entered the date in ACCPAC system (Accounting Software).
3. Released the refund amount in the bank.
· Reimbursed: It’s a daily payments function that enable Bupa
to process and monitor customer medical claims reimbursement
payments proceed on time to meet the customer satisfaction KPI
(Key Performance Indicator).
Process:

17. 1. Received the approve documents from claim department.
2. Made the entries in the ACCPAC system.
3. Journalized all claims.
4. Released the payment in the bank.
5. Updated customer service and claims department rejected
EFT (Electronic Fund Transfer) on daily basis.Brokers
Commission Payment:
· It’s a weekly payment function that enable Bupa to process
and monitor broker payments and proceed on time.
Process:
1. Obtained the data from data analysis team and release the
payment for the brokers.
2. Received the invoice from the broker.
3. Reconciled the invoice with data analysis team.
4. Confirmed broker accounts by reconciling monthly statement
and related transactions (monthly closing).Supplier Payment
(Vendor Payments)
· The last step in the purchase cycle. When Bupa orders goods
and services from the market.
Supplier Payment
Local

18. International Utility through SADAD
STC SEC Jawazat
Process:
1. Received the invoice.
2. 3-Way Matching: Obtained approvals from the other
department (Marketing, IT, HR, etc.) from the cost center
manager or budget owner, link the invoices with the purchase
order, and check the purchase order status.
3. Checked the invoice form if it is correct based on GAZT
Terms.
4. Charged expenses to account and cost center from accounting
wise.
5. Reconciled of Sundry creditors / aged payable.
6. Analyzed supplier accruals on monthly basis.
7. Weekly SADAD payments batch closing activity.
8. Confirmed vendor accounts by reconciling monthly statement
and related transactions (monthly closing).
9. Responded all query related to supplier payment (Payment
Conformation and Transaction Receipt).Why Finance
Department Is Important in Bupa and in Every Company?

19. · Finance department report financial transaction and handling
confidential and critical data of the company to report financial
statements.
· Ensures that there are adequate funds that can be utilized in
the acquisition of the resources that are required towards
achievement of organizational goals.
· Ensures that costs are effectively controlled
· Ensures that the organization has adequate cash flow
· Facilitates establishment and control of profitability level of
an organization.
· Identifies appropriate financial information before
communication of the information to decision-makers and
managers so that they make informed decisions and judgments.
· Prepares final documents and financial documents that are
utilized by managers and for reporting purposes.Challenges
That I faced While I am Working at Account Payable - Finance
Operations and Reporting Department
1. Duplicate Payments. Receive the same payment twice from
provider control (commercial actuarial), supplier and brokers.
2. Payments have same batch ID number but different provider
ID.
3. Payments have wrong PPD (Prompt Payment Discount).
4. Rejected by the bank since incorrect bank IBAN in refund
and reimbursement payments.
5. Received invoices for a consumed purchase order.