Job Title: Actuarial Trainee  

Contract Type: Permanent  

Location: Edinburgh, Alderley Edge, or London

Working style: Hybrid 50% home/office based

Closing date: 29th February 2024

Are you passionate about numbers, analysis, and risk management? We have an exciting new opportunity for you to kickstart your career as an Actuarial Trainee at Royal London. As an Actuarial Trainee, you will be exposed to a dynamic and fast-paced environment where you will work alongside a team of experienced actuaries and gain exposure to a wide range of actuarial projects and responsibilities. You will have the opportunity to learn and apply actuarial techniques to analyse data and develop financial models.  

We are seeking a highly motivated and analytically minded individual to join our team as an Actuarial Trainee in our Edinburgh, Alderley Edge, or London offices. You will play a crucial role in helping assess and mitigate our risks.  This is an excellent opportunity for an actuarial student who is making good progress through the exams to develop their career, gain exposure in a strategically important business area and be part of our ambitious journey with Royal London.

The role will sit within the Insurance Risks team which has the following key responsibilities:
•         Development of Methodology & Assumptions for use in pricing and valuation of insurance risks
•         Development of Insurance Proposition to retain/create value
•         Delivery of risk management initiatives to optimise return on capital and operating profit
•         Development of End-to-End management process for Insurance Risk

The successful candidate will be partly qualified and studying towards the Institute and Faculty of Actuaries (IFoA) examinations with a minimum of 4 exams having already been successfully attained (not exemptions).

About the role

• Undertake technical analysis using standard actuarial and analytical techniques in accordance with agreed guidelines and methodology.
• Carry out reasonableness checks of own work to minimise errors.
• Check work of a technical or complex nature, providing feedback to the originator.
• Identify areas in processes which have a high level of risk or control failure and escalate to team manager, with suggestions for improvements.
• Challenge and make improvements and efficiencies to processes, procedures, and documentation to make them more accurate and/or efficient.
• Maintain the systems/processes used within the required level of governance.
• Provide support in the testing of changes to the systems/processes.

About you

• Be partly qualified and studying towards the Institute and Faculty of Actuaries (IFoA) examinations with a minimum of 4 exams passes (not exemptions).
• Bachelor's degree in actuarial science, mathematics, statistics, or a related field.
• Strong analytical and problem-solving skills, with the ability to think critically and independently.
• Solid understanding of probability theory, statistics, and financial mathematics.
• Excellent communication skills, both written and verbal, with the ability to present complex information in a clear and concise manner.
• Strong commitment to professional development and willingness to pursue actuarial exams.

About Royal London

We’re the UK’s largest mutual life, pensions, and investment company, offering protection, long-term savings and asset management products and services.   

Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve. 

We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance. You can see all our benefits here - Our Benefits  

Inclusion, diversity and belonging 

We’re an Inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected – whatever their background.