Actuarial Trainee

Full Support for Your Actuarial Qualification- We’ll provide paid study days, mentoring, and resources to help you succeed in your actuarial exams.
Diverse Experience Across Key Teams- Gain hands-on experience in a number of our actuarial teams, all while building your career with NFU Mutual.
Hybrid working- Enjoy the flexibility of working up to 60% from home, with the remainder at our Head Office in Stratford-upon-Avon. During your initial training and induction, you’ll spend more time in the office to ensure you’re fully supported as you get up to speed.
Entry Requirements- 3 A-levels at grade B or above (including mathematics, excluding general studies) and a 2:1 honours degree in actuarial science, mathematics, statistics, economics, or a degree with significant mathematical content.

About the Scheme

At NFU Mutual, we’re offering an exciting opportunity to kickstart your actuarial career with our Actuarial Trainee Scheme. This scheme is designed to provide you with hands-on experience which may include exposure to financial services and general insurance business across a number of teams including reserving & financial modelling, systems & services and profitability & pricing. You’ll play a key role in collecting, analysing, and interpreting data, and you’ll work closely with a range of teams to help make important business decisions that benefit both our customers and the business.

The purpose of our actuarial teams is to ensure that NFU Mutual remains financially robust and capable of providing outstanding service to our customers. Actuaries are at the heart of decision-making here, helping us assess and manage risks, set appropriate pricing, and maintain financial stability. Whether it’s modelling life policies, supporting general insurance, or managing the reserve funds for future claims, our actuarial teams provide crucial insights that guide the company’s strategy and protect our customers.

As an Actuarial Trainee, you’ll have the opportunity to support business-critical activities such as designing actuarial models, investigating data anomalies, and communicating key insights to non-actuarial colleagues. You’ll be fully supported on your journey to becoming a Fellow of the Institute and Faculty of Actuaries (IFoA). The scheme offers a structured learning path, including dedicated study days, mentoring, and funding for exam entries, along with access to a range of study materials to help you succeed. You’ll work closely with the actuarial team, gaining valuable hands-on experience, and will be a part of the IFoA, benefiting from a professional network and resources. The mentorship program ensures personalised guidance throughout your journey. In addition, as you progress and pass exams, you’ll receive incremental pay increases and rewards, recognising your growing expertise and achievements.

What you can expect

At NFU Mutual, we believe in supporting and nurturing our employees from the very beginning of their careers. As an Actuarial Trainee, you’ll be part of a small cohort of career starters, all embarking on a shared journey of professional development and growth.

Varied Work Across Teams: Whether you’re working with the Actuarial Systems & Services team, Profitability & Pricing, or Reserving and Financial Modelling teams, , your role will involve similar activities across all three teams, such as designing and improving actuarial models, data analysis, and recommending business strategies. You may also get involved in a range of projects, working with different departments like sales, marketing, and IT.
Clear Development Path: You’ll be supported in your personal development and we’ll also provide on-the-job coaching from experienced colleagues, so you’ll always feel supported as you grow in your role.
Study and Exam Support: As part of your actuarial journey, we’ll provide you with everything you need to study and pass your actuarial exams, including paid study days, mentoring, and a variety of resources to guide you every step of the way.
Collaborative Environment: You’ll be part of a friendly, collaborative team where your input matters. Whether you’re problem-solving, sharing insights, or working with internal stakeholders, you’ll always have the support you need to succeed.

About you

To be eligible for this role, you’ll need to have at least 3 A-levels at grade B or above (including mathematics but excluding general studies) and be working towards or have completed an honours degree (2:1 or above) in actuarial science, mathematics, statistics, economics, or another degree with significant mathematical content.

We’d love for you to have the following skills:

Strong Analytical and Numerical Skills
Effective Communication and Collaboration
Problem-Solving and Critical Thinking
Attention to Detail and Accuracy
Time Management and Self-Organisation
Knowledge of Excel and Programming (SQL/VBA)

Benefits and Rewards

Salary – £30,987
Annual bonus (up to 10% of salary)
Contributory pension scheme, up to 20%, including your 8% contribution
25 days annual leave + bank holidays + buy/sell/save holiday trading scheme
A Family Friendly policy that helps you balance your work and family responsibilities
Access to savings at High Street brands, travel and supermarkets
£20 contribution to a monthly gym membership – subject to T&Cs
Health and wellbeing plan – cashback for dentist, opticians, physio and more
Access to voluntary benefits, including health assessments, private medical insurance and dental insurance
Employee Volunteering – volunteer in the community for one day each year
Unlimited access to Refer a Friend £500 bonus scheme
Life Assurance cover of 4 x salary
Employee discounts of 15% on a range of NFU Mutual insurance policies.