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Actuarial - Summer Vacation Scheme - Edinburgh
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What does this team do?
In Actuarial we are problem solvers and strategic thinkers, who use mathematical skills to help measure the probability and risk of future events. Our work helps individuals to plan for the future, and it’s always challenging and interesting.
Our Actuarial Insurance business provides actuarial services across the life insurance and general insurance markets. We work with a wide range of clients, from large multi-national insurers to small insurers who do not employ their own actuaries, and everything in between.
We foster an open and friendly working environment that naturally allows everyone to learn from the wide range of experts within the practice.
What skills and academic qualifications do I need?
This programme is for university students who are doing well academically and want to test their skills in the real world.
You must be in the penultimate year of your course, or going on to a master’s, and you need to be on track to achieve a predicted degree classification of 2:1 or above in a maths or finance related degree (this could include but not limited to: including Chemistry, Actuarial Sciences, Finance, Physics, Economics, Engineering and Computer Science). An A-level (or equivalent) in Maths is encouraged but not essential.
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No prior experience is required, however some understanding and interest of the insurance industry, and the role of actuaries within it is recommended.
Duration of the programme: 6 Weeks
We have identified 10 core skills that are essential to all our roles in Early Careers. To learn more about these skills and their detailed descriptions, please visit the 'Discover What We Look For' section in our Candidate Zone.
What kind of work will I do?
As well as learning key consulting skills, you will also gain expertise in actuarial specific skills such as actuarial modelling, data analytics and knowledge of regulatory reporting requirements across life insurance and general insurance.
The following are some examples of the day-to-day work you will be involved in:
- Analysing client data before drafting reports and slide decks to support the presentation of findings to clients
- Research and due diligence around demographic and financial assumptions
- Estimating, reviewing and validating a range of insurance actuarial numbers including insurance liabilities and capital numbers as part of our work on insurance company audits
- Assessing future insurance liabilities for setting premiums, understanding profitability, financial reporting and transferring blocks of business
- Advising on the level of capital to hold and the capital structure
- Supporting financial change programmes by identifying inefficiencies in our client’s actuarial processes, designing better ways of working, and collaborating with their people to embed new solutions.
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Where will I work?
At Deloitte we recognise how important face-to-face interaction is for your development in a new role. We also understand that our people need flexibility, which is why we operate a hybrid system, with a combination of office and home working. If you’re in a client-facing role, you might be expected to attend client sites on certain days, while your meetings will be a mix of online and in-person events. Please note your final assessment and induction will also be in-person, to give you the opportunity to network and build relationships.
All our workspaces are accessible, however, if you require further flexibility due to a health condition or caring responsibilities, please discuss this with our team. You can find further information on our parent and carer policies here.
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