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Apprenticeship Actuarial Jobs

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    Actuarial
        Actuarial
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        Added 288 days ago
        Royal Mail
        Nationwide
        £13,500 per annum
        Added 69 days ago
        • 1

        Helping you find a career in the actuarial industry

        Actuarial science is about working out financial risks by using complex mathematical formulas and statistics. If you love numbers and data, being an Actuary will put that passion to good use.

        Actuaries work out how world events, like natural disasters, floods and fires financially impact the economy. Actuaries advise companies on what precautions to take if an event is likely to occur.

        Most actuaries are employed within insurance companies because the work is related specifically to risk, which is the epicentre of the whole insurance industry. Your day will include building statistical models to predict risk and producing reports on your findings.

        The work is very important and many companies rely upon it for setting their prices, so the qualification requirements are quite strict.

        A career as an actuary is a financially rewarding one. It also presents opportunities to work across the globe. Actuaries are very much in demand!

        Find out more
        • FAQs
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        FAQs
        Which skills are needed for an actuarial career?

        As your day will involve working with numbers, it's important that you're proficient with maths.

        You'll be working with different teams, so strong communication skills are important, especially when trying to explain a complex statistics to those who are not experts.

        You'll need to be trustworthy and professional, as you'll be handling lots of confidential data.

        Here are some skills employers in the actuarial industry look for:

        • Strong mathematical ability
        • IT skills
        • Innovative thinking
        • Analytical skills
        What are typical progression routes for school leavers?

        The initial CAA qualification that you need to pursue in an actuarial apprenticeship takes between two and three years to complete. After this, you can become an actuarial technician, or assistant.

        You'll then need to pursue further qualifications from the IFoA to fully qualify as an actuary, which will take a few years to complete.

        Once you have some years of experience you could work on a freelance basis for a selection of your own clients, or you could progress in-house to a senior position.

        How can I get into the actuarial field?

        This is a highly competitive field, so you will need a strong set of skills to flourish as an actuary. To stand out from the crowd, you can:

        • Tailor your CV to specific roles: make sure you pull out details about the company and highlight why you want to work for them specifically
        • Applying for internships and/or work experience: having work experience on your CV will help you stand out from those who have similar academic qualifications
        • See what the top companies require: try looking at case studies from some of the big actuarial firms and see what qualifications other school-leavers had when they entered the industry
        • Get the relevant accreditation: in this case, you'll need to take the Certified Actuarial Analysis (CAA) qualification or the fellowship exams
        How much do actuarial professionals earn?

        Starting salaries for actuarial apprentices are usually between £17,000-£25,000. Fully qualified actuaries, on average earn £51,594.

        What qualifications do I need to work in the actuarial sector?

        To become an actuary you will need to have your CAA (Certified Actuarial Analysis) qualification. The CAA is a professional qualification provided by the Institute and Faculty of Actuaries (IFoA). It consists of 6 computer-based exams and you can study for it online.

        To get onto an actuarial apprenticeship you will likely need to have strong A-levels, with at least one of them being maths-related.

        Once you have achieved the CAA qualification, you can become an actuarial assistant or junior financial analyst. After this, you need to study the course further to become a fully-certified actuary.

        Read more about the Actuarial industry

        The Actuary
        Government Actuary Department (GAD)
        Actuarial Education Company (ActEd)

        Actuarial industry bodies

        Industry and Faculty of Actuaries
        International Actuarial Association