Graduate Trainee Actuary

Details

Description

Have you ever thought about working as an actuary and in the heart of government? Do you enjoy analysing large datasets and helping others to make decisions that will have long-term implications for the country?

Consider the role of Graduate Trainee Actuary at the Government Actuary’s Department!

About us

GAD is the centre of actuarial expertise within government providing advice and analysis to government across a range of significant policy initiatives. We enable government to better understand and quantify risks and in turn result in better outcomes for the UK public.

We are now looking for graduate trainees to join our actuary team.

Entry requirements

  • First or high 2:1 Honours degree in a subject with high mathematical content
  • A level (or equivalent) mathematics at grade B or above

What the role is about

As a graduate trainee, you will play a crucial role at the Government Actuary’s Department (GAD) by working with other professionals to produce high quality advice and analysis for government. This will include actuarial advice across government in a wide range of areas including:

  • Applying actuarial and modern data science techniques to allow government to better understand and manage risks for important policies affecting the entire UK
  • Managing costs and risks across the public service workforce, including the design and operation of public service pension schemes
  • Understanding insurance risks and costs affecting government, including clinical negligence in the NHS
  • Delivering bespoke advice on financial and demographic risks facing government, including social security benefits

Responsibilities

  • Produce actuarial analysis to inform GAD’s advice to government departments, across areas of insurance, investments, pensions, and risk.
  • Support client engagement by drafting reports and advice as well as providing support in meetings and presentations.
  • Manage your time to deliver your work to time and budget. You may also be responsible for assisting with broader project management and development of junior staff.
  • Proactively develop your knowledge and understanding of actuarial methods and analysis, data science, the issues and risks facing government as well as how GAD can best provide advice to our clients.
  • Identify and suggest new ways of working and areas where GAD can provide advice.
  • Work within GAD’s professional standards and departmental procedures and guidance notes.
  • Use MS Office and modern data science languages such as R and Python to carry out analysis and prepare advice for clients.
  • Our goal is to integrate modern analytical and actuarial techniques into the business of government to achieve better outcomes for decision-makers and the public.
  • Typical areas of our work include the effective management of social security, pensions and risk-pooling arrangements, as well as bespoke advice including disaster risk protection.
  • We are an inclusive organisation which values the strength of a diverse team, supported through staff networks and an active Diversity and Inclusion strategy. We encourage everyone to apply to join us.
  • Our trainee programme will support you in reaching your full potential as an expert adviser within the heart of government, including generous support through your actuarial exams and opportunities to develop your consultancy skills.
  • Government has a wide need for actuarial advice which is growing over time as the world becomes more complex. GAD’s staff need to be equipped to work across a range of different areas to rise to the challenges of the future.
  • As a Graduate Trainee Actuary in GAD, you will develop both your technical and consulting skills through our structured rotation programme. This programme will help you develop your communication, client engagement and project management skills, as well as your understanding of key actuarial and analytical techniques.
  • We also encourage trainees to undertake secondment opportunities and work directly with clients and colleagues in major government departments.

What’s in it for you

  • The opportunity to work on unique projects, clients and challenges which make a difference for the UK public.
  • The ability to have great work life balance, with flexitime working and support to allow you to work in a hybrid manner at home and our London office.
  • Access to a wide range of training opportunities to develop your career as an analyst in government.
  • A great benefit package, including access to a generous defined benefit pension scheme.
  • 25 days annual leave per year, increasing to 30 days after 5 years’ service. In addition, we offer 9 days public and privilege days leave per year (pro rata for part time staff).
  • Generous defined benefit Civil Service pension scheme.
  • Access to employee assistance programme and occupational health.
  • Family-friendly policies such as help with caring responsibilities, special leave, generous paid maternity, paternity and adoption leave.

If you can see yourself as a Graduate Trainee Actuary for the Government Actuary’s Department, please apply now.

Nationality requirements

This job is broadly open to the following groups:

  • UK nationals
  • Nationals of Commonwealth countries who have the right to work in the UK
  • Nationals of the Republic of Ireland
  • Nationals from the EU, EEA, or Switzerland with (or eligible for) status under the European Union
  • Settlement Scheme (EUSS)
  • Relevant EU, EEA, Swiss or Turkish nationals working in the Civil Service
  • Relevant EU, EEA, Swiss or Turkish nationals who have built up the right to work in the Civil Service
  • Certain family members of the relevant EU, EEA, Swiss or Turkish nationals
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Government Actuary’s Department

We advise government on significant policy initiatives where understanding and quantifying financial risks are critical elements of good decision-making. In particular we provide advice on pensions, student loans and risk-pooling arrangements such as those for clinical negligence claims.

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