Working in First Actuarial’s actuarial team

Home Careers Working in First Actuarial’s actuarial team

What does the actuarial team do?

We have more than 70 qualified actuaries working in teams across First Actuarial, sharing decades of actuarial experience. Together, we help pension scheme trustees and employers manage their schemes.

We work with trustees to make sure they can pay all the benefits promised to scheme members. This involves grappling with huge uncertainties. How will inflation affect those payments in future? And how long will the scheme have to pay each scheme member, or in starker terms, when will they die? Actuarial work tries to make sense of those uncertainties, to help trustees decide how best to fund retirement benefits.

For employers, it’s more about managing risk. Employers want to know that the pension promises they make to staff won’t cost the company more than expected.

What sort of people do we look for?

Whether we’re recruiting students, new graduates or experienced professionals, we’re interested in numerate problem-solvers – usually with a maths-related degree – who pay attention to detail and can work under pressure. If they’re graduate trainees, they have to be self-driven individuals, able to work full-time while studying for professional exams.

We also look for personable individuals who will fit in. These are team-based roles – you need to be able to work with other people, support junior staff, and be willing to work with senior professionals.

How does the actuarial team train and develop its staff?

New undergraduates undergo a 6-12 month training programme to build up basic skills and knowledge. Following that, professional development is mainly work-based. All our offices are open plan – even interns and new graduates sit next to senior professionals and have day-to-day access to partners. Everyone is happy to help.

Our actuarial trainees go through the exams of the IFoA (Institute and Faculty of Actuaries). First Actuarial provides a comprehensive study package, including paid study days, IFoA membership fees, exam materials and exam fees. And we reward exam success with pay rises.

What does career progression look like?

The traditional actuarial career path goes from trainee graduate to Scheme Actuary, but there are other options along the way.

As an actuarial trainee, once you have 1-2 years’ experience, you’ll be progressing through exams while doing most of the standard calculations and valuations with minimal assistance.

With 3-4 years’ experience, you’ll start checking the work of more junior trainees. You might start to meet clients, particularly if you have a future consultancy role in mind. And you’re likely to be studying for more specialist exams.

The time it takes to qualify as an actuary varies – the exams are tough so it’s not unusual to fail one or two. But once you qualify, you’ll be a highly valued member of the actuarial team. You’ll know your own clients well, and you’ll be managing workloads and services.

Interested in joining First Actuarial?

Then look through our available positions, and find the job that will take you to where you want to be.

I’d like to hear more about future career opportunities

Not quite the right time for a career move? Stay in touch and we’ll keep you informed of any suitable openings in the future. The information you provide will be held in line with our privacy policy.

Meet the actuarial team member

Megan Gill

Meet Megan

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