KEY ELEMENTS OF OUR GRADUATE SCHEME
1. We believe our graduate scheme provides successful candidates with the most immediate and direct exposure to client-facing work in the actuarial sector. Within one month of starting employment with us, you may be asked to be the sole APR representative at a client’s site. However, you will be given the support that you need. Before working on site at a client, all employed associates will be given intensive initial training and tuition. The aim of this training is to allow you to start making an active contribution to clients’ requirements from day one.
There is a very wide range of actuarial work that our employed associates are asked to provide to our clients. Examples include:
• Writing and reviewing calculation specifications across a range of life assurance and pension products as part of a systems migration.
• Developing highly detailed models, commonly in Excel and VBA, to ensure a client’s policyholders have not been disadvantaged in the payout received from a policy held.
• Working in a financial reporting team whose responsibility is to determine the liabilities and assets of an insurance company for a number of different purposes.
• Working in a model development team, ensuring the client’s modelling of future cashflows is robust and compliant with emerging regulation such as Solvency 2.
• Testing the illustrations that will be provided to potential policyholders prior to the launch of a new life insurance or pension product.
• Documenting the actuarial calculations and processes of a client.
2. We want our employed associates to qualify as actuaries as quickly as possible, and to facilitate this, we provide them with a comprehensive package of study support. This package comprises a generous allowance of study days for each actuarial exam, the cost of study materials (including marking and/or tutorials), exam entrance fees and professional subscription fees.
3. Because our business is all about the quality and skills of the people we use on our clients’ projects, this has an important and positive impact for our employed associates. We are committed to providing some of the best training in the actuarial industry and we have an ongoing interest in doing so; without this, our services would not be in such demand from clients.
4. We expect successful candidates to be highly intelligent and exceptionally numerate. In addition, we believe the early exposure to client-facing roles and technical responsibilities require a higher level of written communication skills and self confidence than for a standard actuarial role. In return for the outstanding skills we expect, it is fair that we pay commensurately, and our rates are therefore well within the top quartile of the actuarial sector.
APPLYING FOR THE SCHEME
If our high demands do not deter you and you feel this is an environment in which you would enjoy working, we are confident that joining our graduate scheme is a decision you will not regret. In short, we believe it provides a new range of opportunities for a more varied, exciting and financially rewarding career than offered by traditional actuarial employers. We would make sure you have the opportunity to speak to the current members of our graduate scheme as part of the assessment process.
We require candidates to possess the following: a minimum Grade A in English Language GCSE (or equivalent) and a minimum Grade A in Mathematics A Level (or equivalent). When applying please ensure that your CV demonstrates that you meet these minimum academic requirements and that you also have the right to work in the UK.