Actuarial technician apprenticeship

Actuaries manage risk. They work for companies in a range of fields, but especially in insurance and pensions, analysing the potential for unwanted events to occur and helping to plan for (or avoid) those events.

Actuarial teams build mathematical models to predict future financial outcomes – from setting car insurance premiums to helping people provide for retirement through investment in pensions. They even analyse the weather to see how it could affect the financial performance of a business.

The actuarial technician apprenticeship is an entry-level role into the industry. As an apprentice, you will work as part of a team, supporting qualified actuaries using data to provide solutions for clients. You will develop key business skills and behaviours, including servicing clients and supporting the advice given by qualified actuaries, through ‘on-the-job’ training, while also studying for some professional exams.

Your duties could include: preparing data and checking it for accuracy; using spreadsheets and models to create reports and presentations for clients; technical support for the actuarial team; systems development and testing; using IT to complete a wide range of tasks; providing support for queries from clients, third parties and other business areas. You will develop an understanding of hot topics which affect the industry and learn how to complete internal and external compliance documentation.

If you like maths, enjoy solving problems and have an analytical and logical mind, this could be the apprenticeship for you. You will need to be able to work in a well-organised manner with good attention to detail as you may be required to work on several projects at the same time, with different clients and deadlines.

The prospects for career progression are excellent.

This apprenticeship will typically take 2–3 years to complete and apprentices will be required to pass the Institute and Faculty of Actuaries’ online professional awareness test.

For more information about becoming an actuary visit www.actuaries.org.uk.

Level:

Higher Apprenticeship (Level 4)

Starting salary:

Will vary by employer

Job role:

Actuarial technician

To view the full apprenticeship standard, click here