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Actuarial - Year in Industry Placement (Under Graduate)

Posted 23 Mar 2024
Work experience
0 to 1 years
Full-time / part-time
Full-time
Job function
Degree level
Required language
English (Fluent)

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Do you love to tackle problems? Is math’s one of your key strengths and passions? Do you want to a Years Placement with a FTSE 100 company?

If so, why not follow in the footsteps of our previous Actuarial Interns/Year in Industry student and put the theory you have learnt at university already to great use by coupling it with real industry experience.

Actuaries are problem solvers and strategic thinkers. They share a love of maths and use their skills to help measure the probability and risk of future events. They are passionate about finding ways to support our customers without exposing ourselves to unnecessary risk. From reporting to pricing, from valuations to solvency, from data to digital, our actuaries have a say. A big say!

About the Aviva Actuarial Year in Industry Placement Scheme:

We are UK’s largest insurer, a FTSE 100 company and a market leader globally, and we have one of the largest networks of actuaries in the country so you will be in good hands from the beginning. Based in our UK Insurance business in York, with hard work successful applicants will have numerous opportunities to learn, network, develop their skills and make a significant contribution to the production of actuarial results. Your line manager, buddy and your qualified mentor will all work with you and provide encouragement and support throughout your placement. You also have an encouraging team around you to help you succeed.

Our scheme is a 12 month fixed term contract, starting Summer 2020, and at the end of the placement, we strive to have given you a solid foundation on which you can build upon, with further studies to become a well-rounded actuary. The roles will give real responsibility for tasks and decisions that will affect our business. Some of the activities involved are listed below:

  • Production of Solvency II results (both Internal Model and Standard Formula) for submission to Aviva Group and the Prudential Regulation Authority (PRA). This includes the production of Loss Functions and the calculation and review of the results produced by the Internal Model
  • Monthly solvency monitoring of our capital position
  • Producing New Business results
  • Working on production of IFRS results
  • Working in our asset or liability production teams

Skills and knowledge:

These roles are aimed at undergraduates, who are able to take a year out in industry as part of their course. Applicants should be highly numerate and analytical, with the capability to interpret data and come up with solutions to complex problems.

Essential requirements:

  • Minimum of B grade in A level Maths or equivalent
  • On course for at least a 2:1 in a numerical based degree
  • Good interpersonal skills

Desirable requirements:

  • Proficiency with a variety of computer packages, in particular MS Word & Excel
  • A working knowledge of industry products and regulations
  • An understanding of actuarial methodologies and techniques

What will you get for this role?

  • Starting salary of £20,250 per annum
  • Generous defined contribution pension scheme
  • Annual performance related bonus and pay review
  • Holiday allowance of 25 days plus bank holidays and the option to buy/sell up to 5 additional days
  • Up to 40% discount for some Aviva products through “My Aviva Extras” plus discounts for Friends and Family (some exclusions apply)
  • Excellent range of flexible benefits to include a matching share save scheme

Oh and by the way…

At Aviva, we always ‘Care More’. It’s our thing. We’re all about our people – that’s you – so we can be pretty flexible. If you need to work from home some of the time, or change your hours so you can pick up your kids or care for someone in your family, we’re very open to that! We’ll even try to bend work around your further studies or hobbies where we can.

We care deeply about welcoming people no matter where they’re from, how old they are or what disability they have. We encourage applications from every age, race, ethnicity, disability, gender, gender identity, religion, culture, sexual orientation, national origin, marital status, pregnancy, maternity or caring responsibility. We want our employees to bring their whole self to work and that starts with you!

As part of that we interview every disabled applicant* that meets the minimum criteria for the job. Just send us an email once you’ve applied, and we’ll make sure we interview you.

Our purpose is to free our 34 million customers from the fear of life's uncertainties. We’ve been providing first-class insurance, retirement health and investment products for over 300 years and we make a difference to people, businesses and communities around the world. That gives us a unique competitive advantage too – we are one of only a few composite insurers…


Our purpose is to free our 34 million customers from the fear of life's uncertainties. We’ve been providing first-class insurance, retirement health and investment products for over 300 years and we make a difference to people, businesses and communities around the world. That gives us a unique competitive advantage too – we are one of only a few composite insurers in the world.
In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. And we’ve got big ambitions for the future.
By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society. Our values – care more, kill complexity, never rest and create legacy – are at the very heart of how we do business.

Finance & Banking
London
30,000 employees

What employees are saying

Nour

Trainee Accountant

Nour

I started on a grad scheme at Aviva in September 2014. Since then I’ve had a variety of experience in different teams. We rotate every year into very different roles in order to get the most well rounded experience. One of the best things about working at…

Hannah

Business Manager

Hannah

I started in Life Direct marketing as a Online Marketing Consultant delivering online and offline campaigns and, amending web journeys. Then went to Future Propositions, leading on a wearable technology project and focusing on telematics . On my last placement I worked in the Group…