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For Companies At a Glance
- Tasks: Rotate through various actuarial functions, gaining hands-on experience in risk analysis and modelling.
- Company: Join a modern bank reshaping the actuarial profession with innovative practices.
- Benefits: Generous study package, career progression, and a respected professional qualification.
- Why this job: Make a real impact on financial strategies while developing in-demand analytical skills.
- Qualifications: Passion for numbers and problem-solving; no prior experience needed.
- Other info: Dynamic environment with excellent mentorship and growth opportunities.
The predicted salary is between 36000 - 60000 £ per year.
Behind our smart decisions? You
Actuaries are the quiet power behind smart financial moves. Combining sharp analytical thinking, technical and statistical mastery, and commercial awareness to turn numbers into knowledge and predictions into plans. They forecast the likelihood of future events and risks, assessing their financial impact – from how long people might live, to how often accidents happen, to how markets behave – and turn those predictions into financial strategies that stand the test of time.
On our Actuarial Graduate Scheme, you’ll learn to think strategically, calculate risk, model the unknown and explain complex ideas so clearly your least-mathsy mate will finally get what you do for a living.
What will you do
Four years. Multiple rotations. Maximum impact
- Using pricing techniques to calculate premiums for Insurance, Pensions & Investment products.
- Calculating reserves and capital so every valid claim can be paid - no drama.
- Analysing experience and using judgement to set the assumptions that drive our models.
- Modelling risks using advanced actuarial and statistical techniques.
- Designing tools and models that forecast the future (without the crystal ball).
- Optimising investment strategies to meet regulations and keep risk in check.
- Explaining complex concepts to stakeholders and presenting analysis that drives big business decisions.
Your actuarial arsenal
Some of the things you’ll work on
- Using climate-risk data to forecast future impacts on insurance portfolios.
- Presenting your models to senior decision-makers.
- Building a pricing model in R or Python.
- Creating slick dashboards in Power BI that tell a story in seconds.
- Helping shape our investment strategy to match our risk appetite.
Why this job
Studying: we make it doable
- A generous study package - study days, tutorials, materials, exam costs and professional subscriptions.
- Local education leads and study mentors who’ve been in your shoes.
- A proven career path, with grads moving on to Manager and Senior Manager roles - and beyond.
What you get
- Work that’s challenging, varied and never dull.
- Real influence - your work helps shape products, investments and risk strategies.
- The chance to help reinvent what it means to be an actuary in a modern, insight-driven bank.
- A career that sets you up for long term success and progression.
Your future. Fully backed
- A respected professional qualification.
- A deep understanding of risk in insurance, pensions and investment.
- A rare blend of analytical skill, technical expertise, and commercial awareness - making you one of the most in-demand professionals in finance. It’s not always easy, but definitely rewarding.
Actuarial Graduate Scheme employer: Lloyds Banking Group
Contact Detail:
Lloyds Banking Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Actuarial Graduate Scheme
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, and don’t be shy about reaching out on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that dream job.
✨Show Off Your Skills
When you get the chance to chat with potential employers, make sure to highlight your technical skills, especially in Excel, Python, and R. We want to see how you can use these tools to solve real-world problems, so come prepared with examples of your work!
✨Ace the Interview
Interviews can be nerve-wracking, but we’ve got your back! Practice common actuarial questions and think about how you can explain complex concepts simply. Remember, they want to see your analytical thinking and how you approach problem-solving.
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, you’ll find all the info you need about the Actuarial Graduate Scheme and what we’re looking for in candidates like you.
We think you need these skills to ace Actuarial Graduate Scheme
Some tips for your application 🫡
Show Your Passion for Actuarial Science: Let us see your enthusiasm for the actuarial field! In your application, share why you’re excited about the role and how it aligns with your career goals. A genuine passion can really make your application stand out.
Tailor Your CV and Cover Letter: Make sure to customise your CV and cover letter for the Actuarial Graduate Scheme. Highlight relevant skills and experiences that match the job description, like your proficiency in Excel, Python, or any actuarial projects you've worked on. We love seeing how you fit into our world!
Be Clear and Concise: When writing your application, keep it clear and to the point. Use straightforward language and avoid jargon unless it’s relevant. We appreciate a well-structured application that’s easy to read and gets straight to the heart of what you want to convey.
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way to ensure your application reaches us directly. Plus, you’ll find all the details you need about the scheme and what we’re looking for in candidates.
How to prepare for a job interview at Lloyds Banking Group
✨Know Your Numbers
Brush up on your actuarial knowledge and be ready to discuss key concepts like pricing techniques, risk modelling, and statistical analysis. Familiarise yourself with tools like Excel, R, and Python, as you might be asked to demonstrate your understanding of how these can be applied in real-world scenarios.
✨Showcase Your Problem-Solving Skills
Prepare to tackle hypothetical problems during the interview. Think about how you would approach calculating reserves or optimising investment strategies. Use examples from your studies or previous experiences to illustrate your analytical thinking and decision-making process.
✨Communicate Clearly
Actuaries need to explain complex concepts to stakeholders. Practice breaking down intricate ideas into simple terms. During the interview, focus on your ability to present your thoughts clearly and confidently, as this will demonstrate your communication skills and commercial awareness.
✨Be Ready to Discuss Your Future
Think about your career aspirations and how they align with the Actuarial Graduate Scheme. Be prepared to discuss why you want to become a Fellow of the Institute and Faculty of Actuaries (IFoA) and how you see yourself contributing to the modernisation of the actuarial function. Show enthusiasm for the journey ahead!
