Our client is seeking an Actuarial Trainee to support the actuarial function of the company and assist in reaching its strategic targets. You will help prepare base financial results for Group, internal, and regulatory audiences, including completing calculations, reviewing methods, drafting reports, and providing recommendations where appropriate. Additionally, you will provide technical support and capture data from policy databases, validating and analysing as required. The role also involves assisting in the identification of risks and providing reports based on analyses to ensure appropriate risk management.
Job Duties:
- Assist in preparing calculations for reserves, economic value, solvency, capital, surplus, new business profit, and company forecasts.
- Prepare draft reports summarising financial results and identifying reasons for deviations from expectations.
- Prepare business experience investigations and reports.
- Help maintain actuarial models, identify shortcomings, and implement changes as advised by senior actuaries.
- Conduct investigations into office experience, such as loss ratios, disability claim duration, and lapse rates.
- Identify and report risks through analysis of financial results, profitability, and policy data.
- Provide recommendations based on risk analysis and report results in both written and verbal formats.
- Support senior actuaries with technical actuarial work as directed.
- Progress through actuarial exams and keep knowledge up-to-date to meet current and future business requirements.
- Ensure compliance with regulatory, professional, and company standards.
- Report any operational risk events on a timely basis and contribute to a culture of risk awareness.
Job Requirements:
- Strong numerical, analytical, and problem-solving skills.
- Systematic and logical approach to work.
- Excellent time management, organisational, and prioritisation skills.
- Results-focused and deadline-driven.
- Detail-oriented with a focus on accuracy.
- Strong communication skills in explaining complex information clearly.
- Self-starter with the ability to work independently.
- Ability to build strong relationships at all levels.
- High professional and personal standards.
- A Levels or International Baccalaureate with A in Maths (minimum 260 UCAS points).
- Degree in Maths, Statistics, or a similar field (minimum 2.1) if graduate.
- Ideally, experience with Excel functions and Microsoft Office (Excel, Word, PowerPoint).
- Ability to learn actuarial modelling software.
- Ideally, experience in life insurance actuarial work.
- Progress in actuarial exams and understanding of the actuarial function.
What You’ll Love:
Our client offers a collaborative and supportive working environment where you will develop valuable actuarial skills while contributing to the company’s strategic goals. You will have the opportunity to work alongside senior actuaries and gain exposure to a range of actuarial processes, helping you grow within the field. As part of a forward-thinking team, you’ll receive continuous professional development and support to progress through actuarial exams and enhance your expertise. The role provides the opportunity to make a significant impact within the actuarial department, ensuring the successful delivery of critical financial reporting and risk management activities.
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