Actuarial Trainee

• Full Support for Your Actuarial Qualification – We’ll provide paid study days, mentoring, and resources to help you succeed in your actuarial exams.
• Diverse Experience Across Key Teams – Gain hands-on experience in a number of our actuarial teams, all while building your career with NFU Mutual.
• Hybrid working – Enjoy the flexibility of working up to 60% from home, with the remainder at our Head Office in Stratford-upon-Avon. During your initial training and induction, you'll spend more time in the office to ensure you're fully supported as you get up to speed.
• Entry Requirements – 3 A-levels at grade B or above (including mathematics, excluding general studies) and a 2:1 honours degree in actuarial science, mathematics, statistics, economics, or a degree with significant mathematical content.
• Salary £30,987 + up to 10% annual bonus

About the scheme

At NFU Mutual, we’re offering an exciting opportunity to kickstart your actuarial career with our Actuarial Trainee Scheme. This scheme is designed to provide you with hands-on experience which may include exposure to financial services and general insurance business across a number of teams including reserving & financial modelling, systems & services and profitability & pricing. You’ll play a key role in collecting, analysing, and interpreting data, and you’ll work closely with a range of teams to help make important business decisions that benefit both our customers and the business.

The purpose of our actuarial teams is to ensure that NFU Mutual remains financially robust and capable of providing outstanding service to our customers. Actuaries are at the heart of decision-making here, helping us assess and manage risks, set appropriate pricing, and maintain financial stability. Whether it’s modelling life policies, supporting general insurance, or managing the reserve funds for future claims, our actuarial teams provide crucial insights that guide the company’s strategy and protect our customers.

As an Actuarial Trainee, you’ll have the opportunity to support business-critical activities such as designing actuarial models, investigating data anomalies, and communicating key insights to non-actuarial colleagues. You’ll be fully supported on your journey to becoming a Fellow of the Institute and Faculty of Actuaries (IFoA). The scheme offers a structured learning path, including dedicated study days, mentoring, and funding for exam entries, along with access to a range of study materials to help you succeed. You’ll work closely with the actuarial team, gaining valuable hands-on experience, and will be a part of the IFoA, benefiting from a professional network and resources. The mentorship program ensures personalised guidance throughout your journey. In addition, as you progress and pass exams, you’ll receive incremental pay increases and rewards, recognising your growing expertise and achievements.

What you can expect

At NFU Mutual, we believe in supporting and nurturing our employees from the very beginning of their careers. As an Actuarial Trainee, you’ll be part of a small cohort of career starters, all embarking on a shared journey of professional development and growth.

We pride ourselves on fostering a supportive and inclusive company culture where people are valued for their individual contributions. As part of our wider team, you’ll be encouraged to take ownership of your development and will receive guidance and mentoring to help you thrive. We focus on building long-term relationships with our employees, so you’ll feel supported not just in your day-to-day work, but in your wider career aspirations too.

• Varied Work Across Teams: Whether you're working with the Actuarial Systems & Services team, Profitability & Pricing, or Reserving and Financial Modelling teams, , your role will involve similar activities across all three teams, such as designing and improving actuarial models, data analysis, and recommending business strategies. You may also get involved in a range of projects, working with different departments like sales, marketing, and IT.
• Clear Development Path: You’ll be supported in your personal development and we’ll also provide on-the-job coaching from experienced colleagues, so you’ll always feel supported as you grow in your role.
• Study and Exam Support: As part of your actuarial journey, we’ll provide you with everything you need to study and pass your actuarial exams, including paid study days, mentoring, and a variety of resources to guide you every step of the way.
• Collaborative Environment: You’ll be part of a friendly, collaborative team where your input matters. Whether you're problem-solving, sharing insights, or working with internal stakeholders, you’ll always have the support you need to succeed.

Application Process

If your application is shortlisted, you’ll be invited to complete an online assessment designed to measure your problem-solving and reasoning skills across numerical, deductive, and inductive tasks. It helps us understand how you work with data, spot patterns, and draw logical conclusions. The following stage will be an introductory call with a member of our team, and the final stage will be an in-person assessment, including a skills-based interview and role-based exercises.

Please note this role is not eligible for visa sponsorship as it does not fulfil the criteria set by the Home Office.

This vacancy may close early depending on application volumes, so we recommend getting your application in as soon as possible!

About you

We’re looking for motivated individuals who are excited to start their actuarial journey and are eager to contribute to a company that values growth, innovation, and customer-focused decision-making. To be eligible for this role, you’ll need to have at least 3 A-levels at grade B or above (including mathematics but excluding general studies) and be working towards or have completed an honours degree (2:1 or above) in actuarial science, mathematics, statistics, economics, or another degree with significant mathematical content. Any work experience in an actuarial environment or even just a professional office placement would be advantageous but not essential.

We’d love for you to have the following skills:

• Strong Analytical and Numerical Skills

The ability to quickly evaluate complex data and make accurate calculations is essential. Your strong numerical skills will help you analyse and interpret large datasets, ensuring you can provide valuable insights to support decision-making across different teams.

• Effective Communication and Collaboration

As an Actuarial Trainee, you’ll work with various teams and departments. Your ability to clearly communicate technical actuarial findings to non-actuarial colleagues is key, ensuring that everyone understands the impact of your work. Whether it’s presenting findings or collaborating on projects, strong communication helps foster a collaborative environment and drive action.

• Problem-Solving and Critical Thinking

Actuarial work often involves complex scenarios that require problem-solving skills. Being able to think critically, challenge existing methods, and propose alternative solutions will allow you to contribute meaningfully to improving processes and achieving business objectives.

• Attention to Detail and Accuracy

The work you do directly impacts business decisions and customer outcomes. Attention to detail is crucial when working with data and actuarial models, as even small errors can have significant consequences. Your ability to spot discrepancies and ensure accuracy will be essential in maintaining the integrity of your work.

• Time Management and Self-Organisation

With multiple projects and deadlines to juggle, it’s important to stay organised and manage your time effectively. Prioritising tasks and staying on top of your workload will ensure you’re meeting expectations and progressing with your studies while contributing to team goals.

• Knowledge of Excel and Programming (SQL/VBA)

While not essential, knowledge of Excel, and programming languages like SQL or VBA, will be an advantage. These tools are used to manipulate large datasets and automate processes, so being comfortable with them will help you work more efficiently and add value to the team from the start.

Benefits and Rewards

When you join our team, you can expect a supportive culture and an attractive range of rewards and benefits including:

• Salary - £30,987
• 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 x salary
• Employee discounts of 15% on a range of NFU Mutual insurance policies.