Actuarial Trainee

Royal London; City of Edinburgh; Hybrid; GBP 29,000 - 35,000; Full time

Benefits offered by this job

Hybrid work model

28 days annual leave + bank holidays

Pension up to 14% matching

Private medical insurance

IFoA study support

Job summary

Royal London is launching an actuarial trainee programme in Edinburgh, offering rotations of 18–24 months with funded study towards the IFoA qualification. The role blends on-site assessment with a hybrid 50% home/office model, supported by mentors and a structured study plan.

You will gain hands-on experience in actuarial analysis, reporting and project work, building technical and professional skills for a formal actuarial career.

Qualifications

• Analytical and numerical aptitude; strong problem-solving skills.
• Coding and data awareness is a plus but not required.
• Rotations with hands-on actuarial analysis and reporting, supported by mentors.

Responsibilities

• Participate in rotations of ~18–24 months translating financial insight into outcomes.
• Assist with valuation, pricing and risk assessment tasks.
• Support reporting and project work for actuarial analysis; engage with stakeholders.

Skills

Numerical skills

Analytical thinking

Coding basics

Data visualisation

AI awareness

Education

Graduate degree (numerical)

Job description

“It feels good to have a career with real purpose.”

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? OurActuarial Trainee programmeoffers the perfect launchpad for your actuarial career.

As part of ourFinance & Actuarialfunction, 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 areanalytical 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 concurrentlyExcellent verbal and written English language skills, with the ability to build relationships and engage with stakeholders across the business

What else do I need to know?

Exact dates are still to be confirmed, but if you’re selected, you’ll need to make yourself available for an on-site assessment centre. This is likely to be at the beginning of December 2026.

At Royal London we believe your difference is our strength and our organisation benefits from the different perspectives that diversity brings. Studies have shown that people from under-represented groups are less likely to apply unless they meet every requirement. So, if you’re excited about this role but your past experience isn't a perfect fit with the job description, we encourage you to apply anyway as you may be the right candidate for this or other opportunities.

Our expectation is that colleagues will come into the office for 50% of their time. This hybrid model is built around our mutual mindset, thinking about what is good for us as individuals (the ‘me’) and in the context of what is right for our customers, our colleagues and the wider Royal London Group (the ‘we’).

Even if you don't meet every single requirement, we encourage you to apply. We are dedicated to building a diverse and inclusive workplace, and your unique experiences and perspectives could be a great addition to our team.

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.

Only candidates who have the legal right to work in the UK or Ireland can undertake this role.
Unfortunately, Royal London is unable to provide visa or work permit sponsorship.