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- Tasks: Join our Actuarial team to analyse data and support financial projections.
- Company: We are a leading UK Life assurer focused on innovative insurance solutions.
- Benefits: Enjoy flexible working options, professional development, and a supportive team culture.
- Why this job: Gain hands-on experience in a dynamic environment while making a real impact.
- Qualifications: A degree in Mathematics or a related field is essential; FIA qualification is a plus.
- Other info: Ideal for those passionate about numbers and looking to kickstart their actuarial career.
The predicted salary is between 28800 - 43200 £ per year.
Job Details: Actuarial Trainee or Analyst
Full details of the job.
Vacancy Name: Actuarial Trainee or Analyst
Vacancy No: VN642
Location Country: United Kingdom
The purpose of this role is to work as a member of the Actuarial team undertaking a variety of different tasks to enable the department to meet its objectives. The role requires the ability to work independently to support the department objectives as agreed by the Actuarial Manager, including:
- Experience analyses and recommending valuation assumptions.
- Solvency II valuation, including Pillar I, II, and III.
- Statutory valuation, including UKGAAP and IFRS 9 & 17.
- Management of with-profits business, including recommendations on investment strategy and bonus rates.
- Pricing of annuity business and policy alteration terms.
- Production of Management Information.
- Support financial projection and planning work.
- Development and maintenance of actuarial models.
- Asset Liability Management.
- Ad hoc tasks as required.
- Comply with the FCA’s conduct (and senior conduct) and Consumer Duty rules and the PRA’s conduct (and senior manager conduct) standards as set out.
- Notify the regulator(s) of matters reasonably expected to be notified.
Core Competencies:
- Highly numerate.
- Experience in data analyses and ability to investigate data problems independently.
- Excellent knowledge of MS Excel and Word.
- Good communication skills, with the ability to propose solutions and work independently requesting support where needed.
- Ability to manage own time and deliver to deadlines.
- Able to handle multiple tasks simultaneously seeking support where appropriate for prioritisation.
Desirable:
- Positive approach and outlook.
- Knowledge of experience analyses within a UK Life assurer.
- Knowledge of life insurance products.
- Knowledge of Solvency II, Pillars I, II, and III.
- Knowledge of Statutory reporting, UK GAAP, and IFRS 9 & 17.
Experience and Qualifications:
- Mandatory: Degree in Mathematics or other maths-based subject.
- Desirable: Studying towards the FIA qualification or given up exams.
- Experience of working in a team in an office environment.
- Experience of working within the Actuarial Function of a UK Life assurer.
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Actuarial Trainee or Analyst employer: Utmost International
Contact Detail:
Utmost International Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Actuarial Trainee or Analyst
✨Tip Number 1
Familiarise yourself with the key actuarial concepts mentioned in the job description, such as Solvency II and UK GAAP. This will not only help you understand the role better but also allow you to engage in meaningful conversations during interviews.
✨Tip Number 2
Network with professionals in the actuarial field, especially those who work in UK life assurance. Attend industry events or join relevant online forums to gain insights and potentially get referrals for the position.
✨Tip Number 3
Brush up on your Excel skills, as proficiency in this software is crucial for the role. Consider taking an advanced Excel course or practising with actuarial models to demonstrate your capability during the interview.
✨Tip Number 4
Prepare to discuss your experience with data analysis and problem-solving. Think of specific examples where you've successfully tackled data issues, as this will showcase your ability to work independently and support the team effectively.
We think you need these skills to ace Actuarial Trainee or Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your mathematical skills and any relevant experience in data analysis. Emphasise your knowledge of actuarial concepts, such as Solvency II and statutory reporting, to align with the job requirements.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention specific experiences that demonstrate your ability to work independently and manage multiple tasks, as well as your commitment to pursuing the FIA qualification.
Showcase Relevant Skills: Highlight your proficiency in MS Excel and Word, as well as your communication skills. Provide examples of how you've used these skills in previous roles or projects, particularly in relation to actuarial tasks.
Proofread Your Application: Before submitting, carefully proofread your application materials for any errors or inconsistencies. A polished application reflects your attention to detail, which is crucial in the actuarial field.
How to prepare for a job interview at Utmost International
✨Brush Up on Technical Knowledge
Make sure you're well-versed in key actuarial concepts, especially those related to Solvency II and statutory reporting. Review your degree materials and any relevant coursework to ensure you can discuss these topics confidently.
✨Showcase Your Analytical Skills
Prepare to demonstrate your experience with data analysis. Be ready to discuss specific examples where you've identified data problems and proposed solutions, as this will highlight your ability to work independently and think critically.
✨Communicate Clearly
Good communication skills are essential for this role. Practice explaining complex actuarial concepts in simple terms, as you may need to present your findings to non-technical stakeholders during the interview.
✨Demonstrate Time Management Abilities
Be prepared to discuss how you manage multiple tasks and meet deadlines. Share examples from your academic or work experience that illustrate your ability to prioritise effectively and seek support when needed.
