Summer Vacation Scheme - Actuarial - Actuarial Insurance

What does this team do?

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.   

Our Actuarial Insurance business provides actuarial services across the life insurance and general insurance markets. We work with a wide range of clients, from large multi-national insurers to small insurers who do not employ their own actuaries, and everything in between.  

We foster an open and friendly working environment that naturally allows everyone to learn from the wide range of experts within the practice. 

What kind of work will I do?

As well as learning key consulting skills, you will also gain expertise in actuarial specific skills such as actuarial modelling, data analytics and knowledge of regulatory reporting requirements across life insurance and general insurance.  

The following are some examples of the day-to-day work you will be involved in:  

• Analysing client data before drafting reports and slide decks to support the presentation of findings to clients;  
• Research and due diligence around demographic and financial assumptions;  
• Estimating, reviewing and validating a range of insurance actuarial numbers including insurance liabilities and capital numbers as part of our work on insurance company audits  
• Assessing future insurance liabilities for setting premiums, understanding profitability, financial reporting and transferring blocks of business;  
• Advising on the level of capital to hold and the capital structure;  
• Supporting financial change programmes by identifying inefficiencies in our client’s actuarial processes, designing better ways of working, and collaborating with their people to embed new solutions. 

Duration of the programme: 6 Weeks .

Where will I work?

At Deloitte we recognise how important face-to-face interaction is for your development in a new role. We also understand that our people need flexibility, which is why we operate a hybrid system, with a combination of office and home working. If you’re in a client-facing role, you might be expected to attend client sites on certain days, while your meetings will be a mix of online and in-person events. Please note your final assessment and induction will also be in-person, to give you the opportunity to network and build relationships

All our workspaces are accessible, however, if you require further flexibility due to a health condition or caring responsibilities, please discuss this with our team.

How will I develop?

When you join Deloitte, we will provide you with the training you need to develop. Deloitte offers a wide range of learning opportunities, including formal training courses and e-learning, to help you develop broader business skills. This training is focused on your own requirements, although there are some courses that most people will take.   

On a day-to-day basis, you will receive on-the-job training through your work with different actuarial colleagues and colleagues in other parts of the firm on different client and internal projects.   

As well as learning key consulting skills, you will also gain expertise in actuarial specific skills such as actuarial modelling, data analytics and knowledge of regulatory reporting requirements across life insurance and general insurance.  

A role in Actuarial Insurance offers stimulating actuarial work, alongside consulting opportunities to engage closely and directly with clients, plus a strong internal support network and a friendly open culture.  

We provide Summer Vacation Students Analysts with the following opportunities:  

• Our dedicated Technology & Transformation SVS team will support you from your first day, organising fun activities to help you get to know your fellow SVS students.  
• You will attend our induction alongside other business line students to learn about the firm, our culture and how we work, before diving into Technology & Transformation specific induction activities.  
• After your induction you'll work on projects with colleagues at all levels of seniority helping to solve real problems from our clients.  
• You will be provided with a support network including a buddy, people leader, mentor, programme sponsor and more!  
• You will be provided with a number of resources such as the SVS Student handbook which can help guide you through your placement.  
• If you are offered a role, you will be assigned a buddy in the team who has recently joined the Actuarial Insurance team through our SVS or Graduate programme. They will act as an informal point of contact, answering questions and offering insight and guidance before you join and throughout your journey at Deloitte on the Summer Vacation Scheme. 

What skills and academic qualifications do I need?

• This programme is for university students who are doing well academically and want to test their skills in the real world.    
• You must be in the penultimate year of your course, or going on to a Master’s, and you need to be on track to achieve a predicted degree classification of 2:1 or above in a maths or finance related degree (this could include but not limited to: including Chemistry, Actuarial Sciences, Finance, Physics, Economics, Engineering and Computer Science).  
• An A-level (or equivalent) in Maths is encouraged but not essential. 
• No prior experience is required, however some understanding and interest of the insurance industry, and the role of actuaries within it is recommended.     

Visa Sponsorship

Due to the Security Clearance requirement for this role, please note that we’re unable to progress applications from candidates on a Student Visa or those who do not hold the unrestricted right to work in the UK. 

Deadlines

We recommend getting your application in as soon as possible. Please note, some of our roles may close before the deadline if we experience high demand.

Assessment deadlines: Once you’ve applied to this role, you’ll receive an email from our recruitment team outlining next steps and the relevant deadlines for you to complete the following stages of our process.

We operate a strict one application per year policy across our Early Careers opportunities. We recommend only submitting an application for a role that you feel is right for you.

Visa Sponsorship

We’re not able to provide visa sponsorship for this programme. However, you can apply if you hold a Student Visa which is valid for the duration. If you are currently on a student visa and would require sponsorship to join Deloitte after graduation, we are able to accept your application for this role.

We’re a collaborative, inclusive firm and we want to help you to use your unique talents and perspectives in the workplace. From diversity networks to wellbeing and much more, we aim to support and reward you in the best way possible.

What matters to you? Make it happen at Deloitte.

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