Actuarial Graduate Apprenticeship (Level 7)

Actuarial Graduate Apprenticeship (Level 7)

London – Hybrid working, 2 days per week in the office

Salary: £35,000

About Us:

At Direct Line Group, insurance is just the start. Combining decades of industry experience with talented people in every field from data, technology, customer care and auto repair, to HR, finance and procurement, we’re a customer-obsessed market powerhouse.

Our Actuarial teams deal with risk on a billion-pound scale. They calculate the risk involved in any given policy and ultimately a potential claim. Using market leading techniques, maximised profitability and business-wide connection, we support some of the UK’s most recognisable brands to grow and develop.

This trainee programme will give you exposure to our Actuarial Teams to develop relevant actuarial, data science and insurance knowledge, skills and behaviours to progress into data or actuarial analyst roles, all whilst studying towards your Level 7 (master’s degree level) qualification.

What you’ll be doing:

During this 42-month programme (potentially shorter with exemptions), you will rotate through different areas within our Actuarial Reserving team. You will learn about insurance, statistics, actuarial techniques, economics, data analysis and visualisation, whilst working towards becoming an Associate Actuary with BPP.

You will report into the SME Squad Leader. The SME Squad is managed across the Corporate Actuarial team (Reserving and Capital Modelling), providing flexibility to transfer between different areas and products, ensuring continuous development.

This role focuses on product-facing actuarial reserving for a designated product. You will support all aspects of the reserving process, including the calculation and communication of technical reserves, experience monitoring, financial forecasting, and collaboration with other business areas.

Day to day job responsibilities include:

• Assisting in the calculation of technical reserves under different accounting bases.
• Supporting tasks and projects proactively and accurately whilst collaborating with peers across various business areas.
• Helping prepare actuarial reports and presentations for senior management and internal stakeholders.
• Developing and refining models for reserving tasks, ensuring high-quality, efficient, well-documented, and verifiable work using appropriate techniques and data.
• Suggesting improvements to reserving methodologies and processes.
• Ensuring data integrity at every stage of work, including validation, structuring, cleansing, manipulation, and reconciliation.
• Staying up to date with current industry trends, regulatory requirements, and best practices.
• Fostering a positive culture and embodying the core values of Direct Line Group.

What we’re looking for:

Whether you’ve just completed your degree or you’re further along in your career journey, you’ll need to enjoy working with data, mathematical modelling, have an analytical mindset and a passion for learning.

As part of the programme, you will be completing an Associateship of the Institute and Faculty of Actuaries. You will need:

• A Degree in a numerate subject or related field AND a minimum of an A achieved in Maths A Level (or equivalent).
• Applicants need to have lived in the UK for the last 3 years.
• A strong desire to pursue an actuarial qualification. Progress towards the Core exams is a plus.
• Strong analytical and problem-solving skills, with a keen attention to detail.
• Proficient in Microsoft Excel; experience in other data analysis tools (e.g. VBA, Python) is a plus.
• Good communication skills, both written and verbal, with the ability to explain technical concepts to non-technical stakeholders.
• A proactive attitude and the ability to work effectively within a team.

You must also:

• Be able to work from our London Riverbank House office at least 2 days per week.
• Be available to start early September 2025 or sooner.

What we’ll give you:

• You’ll receive strong support and numerous opportunities to engage with colleagues in the Actuarial Teams.
• The opportunity to become an Associate of the Institute and Faculty of Actuaries.
• After successful completion of the Associate, there could be the opportunity to complete your Fellowship actuarial qualifications.
• Access to further learning e.g. Data Camp, LinkedIn Learning.
• Starting salary – depending on qualifications and experience, starting at £35,000 for graduate leavers.

Benefits:

We offer excellent benefits to suit your lifestyle and a flexible working model combining the best parts of home and office-working. Core benefits include:

• 9% employer contributed pension.
• 50% off home, motor and pet insurance plus free travel insurance and Green Flag breakdown cover.
• 22 days holiday (rising by 1 each year to 25) + bank holidays and option to buy or sell up to 5 days.
• Additional optional Health and Dental insurance.
• EV car scheme allows all colleagues to lease a brand new electric or plug-in hybrid car in a tax efficient way.
• Buy as you earn share scheme.
• Employee discounts and cashback.
• Plus many more.

Ways of Working:

Our hybrid model offers a 'best of both worlds' approach combining the best parts of home and office-working, offering flexibility for everyone. Most colleagues are in 2 days a week, and we’ll consider the flexible working options that work best for you.

There’s no-one else like you. No-one with the exact same mix of strengths, quirks, skills and thoughts. That’s why you could belong here. As part of a team of brilliant individuals, in a place that empowers you to be the best you can be.

Join us. Help us keep innovating and putting customers at the heart of everything. Together we’re one of a kind.