Who we are
GAD was established as an independent government department in 1919. Today, we provide actuarial analysis for public sector clients throughout the UK. We are based in central London in the heart of the financial community, with a second office in Edinburgh, and currently employ around 50 actuaries and 50 trainees. We are a not for profit organisation.
What We Do
Our analysis enables Government to formulate national policy and manage public sector finances. This work is crucial to the welfare of millions of people both in the UK and overseas. We provide advice on a wide variety of topics in many fields which can be grouped into seven main areas:
• Public sector pensions
• Pensions policy
• Social insurance (UK and overseas)
• Long-term care and health
• Risk and Insurance
What you’ll be doing
As a trainee actuary you will work as part of a team, with qualified actuaries, to deliver advice across a broad range of areas such as valuations, benefit design, investment strategy and government policy. In addition to advising government, trustees and employers, there may also be opportunities to work in UK and international social insurance. As your experience grows you can expect to have regular client contact.
Our training programme
To help you to qualify as quickly as possible we offer substantial study support with generous study leave, and paid for tutorials, courses, exam entry and exam counselling. We also provide an internal business training programme to help trainees grasp the opportunities we offer and to assume new responsibilities, including:
- A comprehensive induction and technical training programme.
- In-house seminars and professional briefings.
- Managerial and business training including project management, team working, presentations, IT skills and managing client relationships.
- A friendly and cooperative working environment, where actuaries and senior students are enthusiastic about teaching new trainees and passing on their experience.
Rewards & Benefits
- Competitive salary with exam bonuses
- Defined benefit pension scheme
- Flexible working hours with up to 2 days’ flexi leave per month
- 25 days annual leave (30 days on qualification)
- Excellent technical training
- Opportunity to work in other areas
- Assigned study mentor, generous study leave and support for the exams
- Professional briefings, management and business training
Who are we looking for?
Each year we recruit a small number of people who have clear potential to become fully qualified actuaries and will relish the challenges of our diverse and public interest-orientated work. At a minimum, candidates should:
- expect to graduate, by Summer 2014, or have graduated, with a first or high 2:1 honours degree in a subject with high mathematical content or expect to achieve or have achieved an equivalent postgraduate qualification
- have an A level in mathematics at grade A, or Scottish/Irish equivalent
- have a GCSE in English language at grade B or above, or Scottish/Irish equivalent.
Applicants must be highly numerate, but do not need to be maths graduates. Many people come to GAD from other disciplines, such as physics or economics.
Previous applicants need not re-apply.
Applicants applying with Scottish qualifications should note that a Scottish Higher is NOT considered comparable to GCE Advanced Level. However, GAD appreciates that some candidates will progress to higher education without taking Scottish Advanced Higher qualifications.
If you have Scottish qualifications you are eligible to apply if you have a Grade A Scottish Higher in Maths but have not taken a Scottish Advanced Higher in Maths as long as you meet all other eligibility criteria. However if you have taken a Scottish Advanced Higher in Maths you need to have achieved a grade A in order to be eligible to apply.
GAD’s selection process is demanding and, to be considered, candidates must demonstrate several essential qualities. You must have the personal qualities required for professional work with high levels of responsibility. These include the ability to communicate well, both orally and in writing, to explain technical matters in layman’s language and to work as part of a small team with regular client contact. The self-discipline to pursue the demanding course of study to qualify as an actuary is essential. Qualified Actuaries have to represent the department at a wide variety of meetings with clients including government officials and ministers as well as those outside the Civil Service, so good inter-personal skills are important.