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Analysis and Strategy

EARLY CAREERS OPPORTUNITIES IN ACTUARIAL

In Actuarial we are problem solvers and strategic thinkers, who use mathematical skills to help measure the probability and risk of future events. Our work helps individuals to plan for the future, and it’s always challenging and interesting.

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Is Actuarial right for you?

Are you interested in statistics and the ways we can use them to improve the world around us? Are you analytical and detail-focused? In our team you’ll be able to build your knowledge and become skilled at translating complex information. By joining us you could be working with a wide range of different companies from the moment you kickstart your career, learning and developing new skills as you go.

Career options

In Actuarial, we have roles available for our Summer Vacation Scheme, Industrial Placement and Graduate Programmes.

Our Actuarial Insurance and Banking practice offers a variety of career options within the UK, in our London and Edinburgh offices. Roles are available across our three specialisms: Actuarial Insurance, the Capital Markets Group or Banking Analytics & Financial Resource Management.

Our team supports businesses in the insurance and banking sectors on their transformation journeys. As well as learning key consulting skills, you will also gain expertise in actuarial specific skills such as risk modelling, data analytics and knowledge of regulatory reporting requirements across the financial services industry. Along with learning and development opportunities, you will apply your strong quantitative and technical skills to solve challenging problems on behalf of our clients.

Actuarial Insurance: Our Actuarial Insurance business is known for delivering technical quality and thought leadership that drives the industry forward. We work in both life and general insurance, and our actuarial services attract everyone from large multi-national insurers and Lloyd’s market syndicates to small insurers who don’t employ their own actuaries.

The Capital Markets Group (CMG): We specialise in modelling the future movements of UK and international economic markets. As part of the CMG team you will be involved in the more technical aspects of actuarial and banking work, requiring high levels of quantitative skills to solve challenging problems. The team’s also responsible for XSG, the firm’s economic scenario modelling suite – and are also invited to advise on more-typical life insurance projects, so expect to gain broad actuarial experience.

Banking Analytics & Financial Resource Management: We help world-leading banks to maximise their data to solve complex business challenges. It’s a discipline that calls for deep mathematics and statistics knowledge, as well as intermediate to advanced programming skills, which you’ll learn while you’re here.

Our Actuarial, Pensions and Rewards practice is a rapidly growing team of actuaries, employee benefits specialists and modelling experts. They provide audit and assurance services to those responsible for pension schemes.

You’ll get the opportunity to work in a national practice based in London or Belfast, with many different learning and development options available. From the start, you’ll be exposed to interesting and challenging work, enabling you to develop personally and professionally within the pensions industry.

APPLICATION OPENING AND CLOSING DATES

We have lots of roles available within different business areas at Deloitte, with different opening and closing dates for applications, depending on the programmes and locations. However, we do close applications early when we get a very high volume of submissions, so we recommend applying as early as possible.

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Why Actuarial?

Alongside the support of our diverse team of experts, we offer a wide range of learning opportunities, including formal training courses and e-learning. As well as key consulting skills, you’ll also gain expertise in actuarial skills such as modelling, data analytics and knowledge of regulatory reporting requirements. We work with some of the world’s most recognisable names, including companies publicly listed on the London Stock Exchange. Plus you’ll get the chance to meet and work with some of the UK’s most innovative start-ups and privately-owned businesses.

"The size of Deloitte means there are a wide number of different projects to get involved with, abroad, on client site, and in Deloitte offices."

Susannah

Actuarial

Why it matters?

As the world continues to change rapidly, businesses are becoming more reliant on the skills of actuaries and analysts to help them navigate this landscape. Through our work we help to protect the financial health of different organisations and their customers. We use statistics and analysis to keep customers safe and drive value for insurers, banks and pension schemes, while helping them to remain compliant.

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Career Shapers

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Summer Vacation Scheme

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Spring into Deloitte

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Industrial Placement

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Graduate Programme

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Discover more about Actuarial

Multi-year Finance and Actuarial Transformation at a Multinational insurance company

IFRS 17 was introduced to standardise insurance accounting across the world, to make the process more transparent. This includes standardising the way a company measures insurance contracts, as well as the data they’re using to do this. We were asked by a company in Asia to support the implementation of this, so they can comply with the new regulations. Over the course of several years we worked on this complex project, and the firm we supported became one of the earliest multinational insurers in Asia to complete the implementation of IFRS 17. The implementation covered designing new methodology, building actuarial models and supporting systems, and re-organising their teams to be better aligned to operate the new process. This was done one year ahead of the deadline, and the company is now fully compliant with the new regulations.

Technology is becoming ever more advanced, making innovation critical. We're currently pioneering the theme of ‘Exponential Actuary’, which means we are looking at how the roles of actuaries will change in the future due to increasingly automated workforces and the advances of Artificial Intelligence (AI). The concept looks at finding new ways to use actuary skills in other areas of a client’s business, so the knowledge and experience we have can create value elsewhere.

Outside of our core actuarial work, we also champion the environment through our involvement with the WWT London Wetland Reserve. As well as presenting the benefits of investment in this natural landmark to companies, we also take a hands-on approach by volunteering, helping to carry out essential conservation tasks at the reserve. Last year 15 members of our team were involved in planting wildflower meadows, coppicing trees and shrubs, removing invasive plant species, repairing and refurbishing boardwalks and bridges and working from within the ponds, reed beds and bodies of water around the reserve.

"I am amazed at the support offered by my team and I’ve had a very positive experience since joining."

Ellen, Actuarial

How do you explain your job to friends and family?

When I tell people I am training to be an actuary, they never understand what I do! Essentially, we are the people who work out how much insurance products should cost and how much money insurance companies should hold to be able to pay out all the claims that come to them. The beauty with actuarial consulting is that no week is the same, which keeps it interesting and means you are always learning. At Deloitte there are so many different projects going on the variety is never-ending.

How does Deloitte support your wellbeing?

I am amazed at the support offered by my team and I’ve had a very positive experience since joining. Everyone I work with is aware of how much studying is involved for my actuarial exams and they always ensure I log off at a reasonable time to help manage the balance between life, work, and study. In my team we have our own Wellbeing Working Group who keep you up to date with current wellbeing events, as well as working as a support network. Deloitte also gives all its employees free access to the ‘Headspace’ app which is full of meditation and workout activities.

 

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