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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 36000 - 60000 £ per year.
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.
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 concepts of Solvency II and statutory reporting. Understanding these frameworks will not only help you in interviews but also demonstrate your commitment to the actuarial profession.
✨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.
✨Tip Number 3
Brush up on your Excel skills, particularly in data analysis and modelling. Being proficient in Excel is crucial for this role, and showcasing your skills during discussions can set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your experience with data analysis and problem-solving. Be ready to provide examples of how you've tackled data issues independently, as this is a key competency for the role.
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 background and any relevant experience in actuarial work. Emphasise skills like data analysis, proficiency in MS Excel, and any knowledge of Solvency II or statutory reporting.
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 FIA qualifications.
Showcase Relevant Skills: Clearly outline your analytical skills and experience with actuarial models. If you have worked on projects involving pricing of annuity business or management of with-profits business, be sure to include these details.
Proofread Your Application: Before submitting, carefully proofread your application 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 have a solid understanding of key actuarial concepts, especially those mentioned in the job description like Solvency II and UK GAAP. Being able to discuss these topics confidently will show your potential employer that you're well-prepared and knowledgeable.
✨Demonstrate Analytical Skills
Prepare to showcase your analytical abilities during the interview. You might be asked to solve a problem or analyse data on the spot, so practice explaining your thought process clearly and logically. This will highlight your capability to handle the tasks outlined in the role.
✨Communicate Effectively
Good communication skills are essential for this role. Practice articulating your thoughts and solutions clearly. Be ready to explain complex actuarial concepts in simple terms, as this will demonstrate your ability to work collaboratively with others in the team.
✨Show Enthusiasm and Positivity
A positive attitude can set you apart from other candidates. Express your enthusiasm for the role and the company during the interview. Share why you’re passionate about actuarial work and how you see yourself contributing to the team’s success.
