Job Description

Line of Service Assurance

Industry/Sector Not Applicable

Specialism Actuarial Services

Management Level Associate

& Summary Actuarial Services Mumbai

Actuaries work with uncertainty. You\xe2\x80\x99ll learn how to use complex financial and statistical theories to weigh up the risks and estimate the odds of what might happen. You\xe2\x80\x99ll help clients analyse how future events could affect them. Just as important, you\xe2\x80\x99ll develop a flair for presenting your findings in simple, easy\xe2\x80\x91to\xe2\x80\x91understand language and gain from early client exposure which will broaden your experience. There are two business areas \xe2\x80\x93 both among the leading actuarial practices in the UK: Risk Modelling Services and People and Organisation.

What you\'ll do

Risk Modelling Services:

You\xe2\x80\x99ll work with clients from the insurance industry (both life and general insurance), and also from the banking sector (retail and investment), the healthcare sector, the public sector, as well as corporate clients from the non\xe2\x80\x91financial services sector like energy and utility providers. Your advice could cover everything from reviewing economic capital, risk management, assessing liabilities, mergers and acquisitions to company restructures, financial modelling,stress and scenario testing, navigating the evolving economic and regulatory environment and the viability of new products.

People and Organisation:

Our Pensions team work with a variety of companies, from large multinationals to private listed businesses. Using our market-leading pensions analytics tool and range of expertise, you\xe2\x80\x99ll help clients develop and implement their pension strategy or benefit schemes, consult on how they should manage both liability and asset risks within their pension plans, negotiate with trustees on how to fund schemes, design plans to help employees save for retirement and advise on potential mergers or acquisitions.

Your responsibilities will include but not be limited to:

Providing clear and concise communication of complex concepts to internal and external senior management to help clients make robust, evidence based decisions.

Working in multidisciplinary teams with our clients to use data analysis, visualisation and modelling to better quantify and understand risks facing businesses across a multitude of sectors. This could include quantifying the cost of an insurance contract or understanding how risks can emerge on a major infrastructure project.

Learning about a range of industries and applying your knowledge of the external environment to understand trends such as how life expectancy will evolve, the impact of climate change on natural catastrophes, or how real world events such as pandemics can affect the financial and banking system.

Working with our Audit team to provide specialist advice on our audits of both insurers and banks, including providing assurance over the adequacy of liabilities. As an actuary you\xe2\x80\x99ll have exposure to senior stakeholders to understand business plans, profitability and governance.

Helping clients adapt their business in light of changing economic conditions and regulatory requirements, including Environmental, Social and Governance (ESG) requirements.

Drafting reports and presentations and using data visualisation to explain our findings.

What we look for

Actuarial work is highly analytical and technical as many of our clients are in regulation, finance or on the board, and the terminology we use isn\'t something they\'re usually familiar with. That\xe2\x80\x99s why we need people who can explain complex subjects to non-actuaries in plain English - making a flair for communication and good all-round commercial awareness both crucial.

Above all, you must be highly numerate as you\'ll be carrying out complex financial calculations and modelling work.

You\'ll need

- At least 55% aggregate in your undergraduate degree (for students who are currently in their final year of graduation, they should be on course to satisfy this criteria)

- At least 80% marks in Mathematics in Class XII (CBSE or equivalent)

- At least 80% marks in English in Class XII (CBSE or equivalent)

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

1. Minimum Grade C in A Level mathematics or equivalent

2. A second A Level in any subject at a minimum Grade C

We\xe2\x80\x99ll look out for your intellect, willingness to learn, ability to build relationships, to put yourself in others\xe2\x80\x99 shoes, while always making a positive impact with our clients and each other.

Training and development

Your training combines on-the-job coaching and formal courses with study for professional qualifications.

During your first few years, you\'ll divide your time between working in the office and studying to qualify as an Actuary with The Institute of Actuaries of India (IAI) or the Institute & Faculty of Actuaries UK (IFoA), which usually takes four to six years. You\xe2\x80\x99ll start working towards this during your induction training and it\'s a hefty commitment, calling for a great deal of self-discipline and motivation.

You\xe2\x80\x99ll benefit from

- A structured induction programme that helps you pick up basic but vital technical and business skills and helps you settle in quickly and meet new colleagues.

- Study leave (about one day a week) and the provision of study materials; plus your own study mentor, someone whose first-hand knowledge of the exams will prove invaluable.

- A pay rise each time you pass an exam to reward you for all your hard work.

- Practical experience of working with multi-disciplinary PwC practices such as Transaction Services, Regulatory, Risk Advisory, Corporate Finance, Business Recovery/Restructuring, Cyber, Forensics, Sustainability, Audit and Tax on a wide range of client projects. This will help you develop analytical, technical, communication, project management and networking skills while building your business awareness and industry knowledge.

- You will be given an option to study from the Institute of Actuaries of India or the Institute and Faculty of Actuaries, UK. Once you\'ve completed the exams, you will be fully qualified and a Fellow of your chosen institute.

Ultimately, however, your development depends on you. At every stage of your career, including coming up to qualification, we\'ll encourage you to identify your own development needs and choose the right training to meet them.

When to apply

The deadline for applications is 6 February 2023

The deadline for online assessments is 7 February 2023

The deadline for video interview is 9 March 2023

Career Focus Days will be held between 5 April 2023 - 11 April 2023

Senior Interviews will be held between 24 April 2023 - 28 April 2023

Recruitment Process hints and tips

For hints and tips, please visit our , a place where you\xe2\x80\x99ll find useful virtual tools to support you to develop key employability skills.

We look forward to receiving your application and we wish you the best of luck.

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

Required Skills

Optional Skills

Desired Languages (If blank, desired languages not specified)

Travel Requirements Not Specified

Available for Work Visa Sponsorship? No

Government Clearance Required? No

Job Posting End Date February 7, 2023

PwC