Graduate - RMS Actuarial - Mumbai

PwC; Mumbai; On-site; INR 900,000 - 1,300,000; Full time

Job summary

PwC is seeking an Actuarial Services professional in Mumbai for a Senior Associate role within CMAAS. You will collaborate with UK teams on risk modelling services and workforce pensions, supporting insurance and banking clients across solvency, reserving, economic capital, risk management, and model validation.

The Graduate Training Programme develops business, personal and technical skills with hands-on coaching.

Qualifications

• Minimum 55% aggregate in undergraduate degree.
• At least 80% in Mathematics and English in Class XII.
• GCE A Level requirements if applicable.

Responsibilities

• Quantify uncertainty and risk using mathematics, statistics and financial modelling.
• Use data, technology and AI to analyse complex problems and generate insights.
• Design insurance products and policies that balance customer needs, risk and profitability.
• Communicate complex analysis clearly to clients and senior stakeholders to support decision-making.
• Combine mathematics, statistics, economics and finance to assess future outcomes and inform decisions.
• Develop specialist actuarial expertise through professional qualifications and practical experience.

Skills

Mathematics

Statistics

Financial modelling

Communication

Data analysis

Teamwork

Education

Bachelor's degree

Tools

Statistical software

Job description

Line of Service

Assurance

Industry/Sector

Not Applicable

Specialism

CMAAS (Capital Markets and Accounting Advisory Services)

Management Level

Senior Associate

Job Description & Summary

Actuarial Services - Mumbai

Our Mumbai actuaries collaborate with UK teams in Risk Modelling Services and Workforce Pensions.

Consulting:

Support UK teams with insurance (life and general) and banking (retail and investment) clients, as well as non-financial sectors like energy and utilities. Projects include solvency, reserving, economic capital, risk management, model validation, M&A, ESG, restructuring, de-risking, and client audits in insurance and banking.

Workforce Pensions:

Work with diverse clients, from large multinationals to private businesses. Projects include auditing pensions, developing pension strategies, managing pension risks, funding negotiations, designing retirement plans, and advising on M&A. Also, you will advise on reward strategy, structuring, governance, and compliance to ensure alignment with corporate goals and employee retention.

Programme

Our graduate training programme is underpinned by a development framework that broadens and deepens your knowledge. You’ll learn from hands-on coaching and an outstanding variety of work, picking up business, personal and technical skills you can use across the network, and throughout your career.

What you’ll do

Actuaries use mathematics, statistics, data and technology to understand and manage uncertainty, helping organisations assess risk and make informed financial decisions.

Key responsibilities:

• Quantify uncertainty and risk using mathematics, statistics and financial modelling.

• Use data, technology and AI to analyse complex problems and generate insights.

• Design insurance products and policies that balance customer needs, risk and profitability.

• Communicate complex analysis clearly to clients and senior stakeholders to support decision-making.

• Combine mathematics, statistics, economics and finance to assess future outcomes and inform decisions.

• Develop specialist actuarial expertise through professional qualifications and practical experience.

What you’ll gain

As an actuarial associate you’ll work with diverse clients to build global commercial awareness. From day one, you’ll manage projects and present modelling and analytics results to senior colleagues and clients.

Training includes on-job coaching and formal courses while working towards a professional qualification. Choose between the Institute of Actuaries of India (IAI) or the Institute and Faculty of Actuaries UK (IFoA). Upon completing the exams, you’ll become a Fellow of your chosen institute.

Start working towards this qualification immediately, requiring self-discipline and motivation. Our inclusive culture emphasises wellbeing and you may have the opportunity to organise team social events.

What you’ll need

• A minimum of 55% aggregate in your undergraduate degree (final-year students should be on course to meet this criteria).

• At least 80% in Mathematics and English in Class XII (CBSE or equivalent).

For students who have taken the GCE A Level examination, the eligibility criteria are:

• A minimum Grade C in A Level Mathematics or equivalent.

• A second A Level in any subject with a minimum Grade C.

When to apply

Once you have submitted your application you’ll have seven days to complete the online test, this is the first stage of our recruitment process.

Assessment centres for this role are predicted to take place between December 2026 and January 2027.

Applications for this role may close early should we receive a high volume of interest so we recommend prompt application to avoid disappointment.

Education (if blank, degree and/or field of study not specified)

Degrees/Field of Study required:

Degrees/Field of Study preferred:

Certifications (if blank, certifications not specified)

1. United Kingdom: Actuarial - Qualification - Primary - Institute & Faculty of Actuaries - NA - The Institute and Faculty of Actuaries (preferred)

Optional Skills

Accepting Feedback, Active Listening, Actuarial Science, Communication, Complex Data Analysis, Emotional Regulation, Empathy, Financial Data Mining, Financial Modeling, Financial Risk Analysis, Financial Risk Management, Inclusion, Intellectual Curiosity, Optimism, Presenting Financial Reports, Risk Analysis, Risk Model Implementation, Statistical Analysis Software, Statistical Consulting, Statistical Modeling, Strategic Forecasting, Teamwork, Well Being

Desired Languages (If blank, desired languages not specified)

Travel Requirements

Not Specified

Available for Work Visa Sponsorship?

No

Government Clearance Required?

Yes