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Actuarial Trainee Programme London 2024

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Royal London is the UK’s largest mutual life, pensions and investment company. We’re owned by our members and work for their benefit, not for shareholder profits, and that makes us different.

We’re looking for highly creative, intellectually curious and analytical graduates to join our cross functional and rotational actuarial trainee programme.

You’ll be joining a supportive team of talented, diverse and passionate people who make a real impact on the lives of our customers every day. Start date: 2 September 2024

What’s in it for you?

  • Starting salary of £30,000 per annum plus bonus, with further increments on successful completion of exams
  • Generous pension (up to 14% matching) and life assurance (up to x8 salary)
  • 28 days annual leave plus bank holidays with the option to buy/sell up to 5 days
  • Private medical insurance, as well as 24/7 confidential access to health, legal and financial advice
  • Robust training and support to guide you towards Fellowship status with the Institute and Faculty of Actuaries (IFoA)
  • Great career development beyond the end of the programme
  • Opportunity to join our inclusion networks, join events across the business and build your network

What will you be doing?

We’re an actuarial business at heart and you’ll be at the centre of the action, helping us make the biggest decisions for us and our customers. In fact, many of our group executive and senior leadership teams started their career on an actuarial programme, just like you.

You’ll complete a number of placements across the full breadth of the business. This could see you get involved in everything from valuation (modelling) and pricing, through to assessing risk on climate change, or analysing mergers and acquisition opportunities.

Each placement will be structured to build your technical knowledge and exposure to the breadth of the Royal London business. You’ll provide actuarial expertise across the business, helping to translate complex financial or mathematical data into simple, actionable language.

Alongside each of your placements, you will study towards a professional qualification with the IFoA. Depending on your educational background and resulting exemptions, this can be done in three years. For others this can be a much longer-term commitment.

We offer best in class study support, which includes generous study allowance and support with materials, exam costs and other things. We’ve run this programme for decades and have a great track record of coaching and supporting through this.

What skills and experience do I need?

  • Recently qualified graduate in a highly numerical discipline.
  • It would be great if you had some experience of coding, data, visualisation and AI, but this is not essential.
  • Highly analytical, with critical thinking and problem solving
  • Ability to identify, articulate and communicate the key conclusions from analysis in simple terms
  • Intellectually curious, adaptable to change and not afraid to share new ideas and question the status quo
  • Proactive, driven to succeed and able to deliver multiple projects concurrently
  • Excellent verbal and written English language skills, with the ability to build relationships and engage with stakeholders across the business

What else do I need to know?

Your application should include a short cover letter that makes clear why you’re well suited to the role at Royal London.

We’re hiring Actuarial Trainees across all three sites. Please apply only for your preferred location – you can make clear on your cover letter your preferences on other locations.

Exact dates are still to be confirmed, but if you’re selected, then you’ll need to be available for an interview and assessment centre.

At Royal London we believe your difference is our strength and our organisation benefits from the different perspectives that diversity brings.

Studies have shown that people from under-represented groups are less likely to apply unless they meet every requirement. So, if you’re excited about this role but your past experience isn't a perfect fit with the job description, we encourage you to apply anyway as you may be the right candidate for this or other opportunities.

Our expectation is that colleagues will come into the office for 50% of their time. This hybrid model is built around our mutual mindset, thinking about what is good for us as individuals (the ‘me’) and in the context of what is right for our customers, our colleagues and the wider Royal London Group (the ‘we’). To give you the support and development needed, you may need to spend much more time in the office, particularly in the earliest stage of your career.

DEADLINE 28th November 2023