Actuarial Trainee

Royal London Mutual Insurance Society; City of Edinburgh; Hybrid; GBP 32,000 - 48,000; Full time

Benefits offered by this job

Pension up to 14% matching

Life assurance 8x salary

28 days annual leave + bank holidays

Private medical insurance

IFoA study support

Hybrid working

Job summary

Royal London in Edinburgh is seeking an Actuarial Trainee to join a hybrid 50% home/office program. You will rotate through actuarial analysis, reporting and projects, building practical experience while working toward professional qualifications with IFoA.

This entry-level role offers mentoring, a structured study programme, and opportunities to contribute to valuations, pricing and risk assessment within the Finance & Actuarial function.

Qualifications

• Graduate with strong numerical skills and analytical ability.
• Willingness to pursue actuarial qualification with study support.

Responsibilities

• Support actuarial analysis, reporting and project work across rotations.
• Translate complex financial insights into actionable outcomes for customers.
• Engage in valuations, pricing, risk assessment and potential M&A analysis.
• Utilise funded study support towards IFoA qualification.

Skills

Numerical skills

Analytical thinking

Problem solving

Communication (English)

Tools

Coding

Data visuals

AI basics

Job description

Actuarial Trainee

Contract type: Permanent

Location: Edinburgh

Working style: Hybrid 50% home/office based

Are you a graduate with strong numerical skills and a keen interest in financial modelling, risk analysis, or data-driven decision-making? Our Actuarial Trainee programmeoffers the perfect launchpad for your actuarial career.

As part of our Finance & Actuarial function, you'll gain hands-on experience supporting actuarial analysis, reporting, and project work while progressing through the actuarial professional qualification.

You'll be part of a collaborative team, contributing to business-critical tasks and developing your technical and professional skills.

This entry-level role offers hands-on experience in actuarial analysis, reporting, and project work. You'll be supported by experienced mentors and a structured study programme as you progress towards professional qualification.

What you’ll gain?

• Starting salary of £32,000 per annum plus bonus, with further increments on successful completion of exams
• Generous pension (up to 14% matching) and life assurance (8x salary)
• 28 days annual leave plus bank holidays with the option to buy/sell up to 5 days
• Private medical insurance, as well as 24/7 confidential access to health, legal and financial advice
• Robust training and support to guide you towards Fellowship status with the Institute and Faculty of Actuaries (IFoA)
• Great career development beyond the end of the programme
• Amazing office facilities, with hybrid working

About the role

We're an actuarial business at our core and you'll be at the centre of the action, helping us make some of the biggest decisions for us and our customers. In fact, many of our group executive and senior leadership teams started their career on an actuarial programme, just like you.

You'll complete a number of rotations of around 18-24 months each, translating complex financial or mathematical insight into outcomes that deliver for our customers.

You could be working on everything from valuation (modelling) and pricing, through to assessing risk on climate change, or analysing mergers and acquisition opportunities.

Alongside each of your rotations, you'll receive funded study support towards a professional qualification with the IFoA. Depending on your educational background and any exemptions, this can be done in three years. For others this can be a much longer-term commitment.

We offer best in class study support, which includes generous study allowance and support with materials, exam costs and other things. We've run this programme for decades and have a great track record of coaching and supporting people like you through this

What skills and experience do I need?

• Qualified graduate and able to start no later than September 2027. Some placements may be available earlier on.
• You don't need to have studied actuarial science, finance or even a highly numerical discipline. We just ask that you are analytical and numerical, with strong critical thinking and problem-solving skills. One of the available roles would be particularly suitable for a graduate with a longevity-related degree.
• It would be great if you had some experience of coding, data, visualisation and AI, but this is not essential.
• Ability to identify, articulate and communicate the key conclusions from analysis in simple terms
• Intellectually curious, adaptable to change and not afraid to share new ideas and question the status quo
• Proactive, driven to succeed and able to deliver multiple projects concurrently
• Excellent verbal and written English language skills, with the ability to build relationships and engage with stakeholders across the business

About Royal London

We're the UK's largest mutual life, pensions and investment company, offering protection, long-term savings and asset management products and services.

Our People Promise to our colleagues is that we will all work somewhere inclusive, responsible, enjoyable and fulfilling. This is underpinned by our Spirit of Royal London values; Empowered, Trustworthy, Collaborate, Achieve.

We've always been proud to reward employees by offering great workplace benefits such as 28 days annual leave in addition to bank holidays, an up to 14% employer matching pension scheme and private medical insurance.

Inclusion, diversity and belonging

We're an inclusive employer. We celebrate and value different backgrounds and cultures across Royal London. Our diverse people and perspectives give us a range of skills which are recognised and respected - whatever their background.