Actuarial Graduate Scheme

The National Farmers Union Mutual Insurance Society Limited; Stratford-upon-Avon; Hybrid; GBP 30,000 - 36,000; Full time

Benefits offered by this job

Annual bonus up to 10%

Contributory pension

25 days annual leave

Gym membership contribution

Private medical insurance

Employee discounts

Job summary

The National Farmers Union Mutual Insurance Society Limited in Stratford-upon-Avon offers a three-year actuarial graduate scheme with hybrid working. You’ll rotate between Finance Actuarial and Risk Actuarial, gaining experience across Reserving, Pricing, Life and general insurance areas.

The programme combines hands-on model work with substantial study support and mentoring. Eligibility includes a 2:1 degree in actuarial science or a closely related field, strong maths and English, and

Qualifications

• 2:1 degree in actuarial science, mathematics, statistics, economics or related field.
• Strong mathematical foundations in maths and English.
• Willingness to study towards actuarial qualifications with support.

Responsibilities

• Rotate across Finance Actuarial or Risk Actuarial teams during the scheme.
• Work on real business challenges and cross-functional projects.
• Develop actuarial models, analyse data and support strategic decisions.

Skills

Analytical skills

Numerical skills

Communication skills

Data literacy

Problem-solving

Attention to detail

Excel

Programming (SQL, VBA, R, Python)

Education

2:1 degree in actuarial science or mathematics or statistics

Tools

IFoA study resources

Job description

You’ll be based in Stratford-upon-Avon, with hybrid working depending on business needs. Regular office time will help you collaborate with your team and learn from experienced colleagues. Please note this role is not eligible for visa sponsorship as it does not fulfil the criteria set by the Home Office. This is a three-year programme. Candidates must have, or be able to obtain, permission to work in the UK in a way that enables them to undertake the role and complete the programme. If you need any adjustments during the recruitment process, please let us know. We’ll work with you to understand what support would help you perform at your best. You may need to discuss any adjustments or accommodations to be the best you can be throughout our recruitment process.

What you can expect

On the scheme, you’ll follow one of two actuarial pathways. Both offer varied experience and the chance to make a real impact across our general insurance and life insurance business:

Finance Actuarial

On this pathway, you’ll gain experience across several of our finance actuarial teams, including Reserving & Financial Modelling, Profitability & Pricing, and Actuarial Systems & Services. Each team has its own focus, but your work will often involve similar core activities, such as designing and improving actuarial models, analysing data, and providing recommendations that shape business strategy. You’ll also have the chance to get involved in cross-functional projects, working with colleagues from areas like Sales, Marketing and IT. It’s a great opportunity to apply your analytical skills to real-world challenges. You’ll help us make informed decisions that benefit both our customers and the business.

Risk Actuarial

This pathway focuses on financial risk. You’ll have the opportunity to work across several specialist teams, including Life Capital, Group Capital, With-Profits and Solvency Management. The Financial Risk department helps the business understand, assess and manage risk. This helps us deliver on our promises to customers and members. You’ll work closely with colleagues across the organisation to make sure risks are clearly understood and managed within agreed risk limits. Your work will include supporting business-critical activities, such as designing and using actuarial models to test how stress scenarios could affect the Group’s financial position. These scenarios may include both likely and less likely events. Your insights will help inform strategic decisions. You may also have opportunities to share these with non-actuarial colleagues, including senior leaders, the CEO and the Board.

Application Process

1. Online assessment - to help us understand how you learn and solve problems.
2. Video interview - a short interview to learn more about you.
3. Assessment centre - an in-person day where you’ll take part in activities such as a group exercise, a role-specific task and a skills-based interview. The assessment centre will be held on 15^th December in Stratford Upon Avon, Warwickshire.

Your future

This scheme is designed to help you build your skills, and work towards recognised qualifications. We’ll support you to gain the knowledge and experience you need for a successful career. You’ll be supported by experienced colleagues, a dedicated buddy and a mentor who will help you maximise your development and career opportunities. You’ll also be part of a strong graduate community, with opportunities to connect with current and former graduates, build your network and learn from others on similar schemes. As you come towards the end of the scheme, a careers coach will help you think about your next role and plan your next steps. It’s not all about work either. We encourage our graduates to get involved in extracurricular activities, from volunteering and organising charity or social events to representing NFU Mutual at industry events, all in line with our Environmental, Social and Governance (ESG) framework.

You’ll need to have achieved, or be on track for, at least a 2:1 degree in actuarial science, mathematics, statistics, economics, or another subject with significant mathematical content. You’ll also need strong academic foundations in maths and English. To help you succeed on the scheme, you’ll bring:

• Analytical and numerical skills - a sharp eye for interpreting data, spotting trends, and drawing meaningful conclusions.
• Communication and storytelling skills - the ability to explain complex ideas clearly and bring data to life for different audiences.
• Data confidence and digital literacy - comfortable working with data and eager to build your skills with tools and software used in actuarial work.
• Prioritisation and time management - able to balance multiple projects and deadlines, especially while studying towards exams.
• Problem-solving ability - thinking creatively and finding practical solutions to complex challenges.
• Attention to detail and accuracy - ensuring your work is reliable, robust, and can be trusted to inform big decisions.
• Knowledge of Excel and programming (such as SQL, VBA,R, Python) - an advantage, but not essential, as we’ll support you to grow these skills.

Work experience Industry experience or a placement year would be a real advantage, but it isn’t essential. What matters most is that you've had some experience of work where you've been able to interact with people, build your communication skills and learn how to work well with others.

We’re one of the UK’s leading general insurance and financial services organisations, and for over 110 years we’ve put our customers at the heart of everything we do. Our people are just as important to us, so we’re proud to be recognised as "a great place to work". Our Gallup Exceptional Workplace 2026 award was not only awarded with Distinction, but it also marked us as the first UK-based company to earn a Gallup Exceptional Workplace award for eleven consecutive years. We’ve also been consistently recognised by Glassdoor. We appeared in the Glassdoor Best Places to Work UK list in 2023, 2024 and 2026 - and in 2026, we were the highest ranked insurance business in the UK, highlighting our strong employee experience and the positive feedback our people share on the platform. Additionally, we were named in the LinkedIn Top Companies 2026 list of "Best midsize employers to grow your career in the UK", and we’ve been certified as a UK Top Employer by the Top Employers Institute in 2023, 2024, 2025 and 2026. We offer a supportive and empowering culture where people are inspired to perform, given opportunities to grow, and recognised and rewarded for their contribution. Our people are proud to work for a company that respects them and their communities, and they trust us to be financially sustainable - we’re successful now and in the future.

We recognise that some candidates may experience barriers during the recruitment process. So, we encourage candidates to discuss any adjustments or accommodations they need to be the best they can be throughout our recruitment process. We’re proud to be a Disability Confident Employer, a Race at Work and Women in Finance Charter signatory and welcome applications from people of all backgrounds, regardless of age, ethnicity, disability, neurodiversity, gender, religion, marital status, sexual orientation, or socioeconomic background.

About the scheme

At NFU Mutual, actuaries are central to our business. They help us understand risk, set fair prices, manage reserves and maintain the financial strength we need to support our customers. Throughout the three-year scheme, you’ll rotate across different actuarial teams, building a broad foundation before deciding where you want to specialise. You’ll also have the opportunity to work towards becoming a fully qualified Fellow of the Institute and Faculty of Actuaries (IFoA), backed by our proud track record of helping trainees achieve this. We know it can take time to balance professional exams with day-to-day work and personal commitments. We’ll support your career development throughout the scheme with a structured plan and a competitive study package, including fully funded exams, access to study resources, and generous study leave. In addition to annual pay reviews, successful exam progression can increase your salary significantly, with individual exam passes attracting salary increases of between £400 and £4,825. This means your earning potential grows alongside your actuarial expertise and professional development.

Scheme Summary

• Become a qualified actuary with funded exams, study leave and salary increases as you progress.
• Gain varied experience across Finance Actuarial or Risk Actuarial, working on real business challenges.
• Get support from day one with a buddy, mentor, graduate network and careers coaching.
• Salary - £33000 + up to 10% annual bonus + annual pay reviews
• Start date - September 2027
• Scheme length - 3 years
• Location - Stratford-upon-Avon, with hybrid working depending on business needs
• Entry Criteria - You’ll need at least a 2:1 degree in actuarial science, mathematics, statistics, economics, or another subject with significant mathematical content. You’ll also need an 'A' in A-Level Maths (with your other A-Levels at grade B or above) and at least a grade 5 (C) in GCSE English Language.

Benefits and Rewards

• Salary - £33,000
• 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 * salary
• Employee discounts of 15% on a range of NFU Mutual insurance policies.