Internship, Actuarial, Risk Modelling Services, London, Summer 2024
- Recruiter
- PwC UK
- Location
- London
- Salary
- Competitive salary
- Posted
- 26 Sep 2023
- Closes
- 03 Oct 2023
- Ref
- PUDPUNUK473632WDEXTERNALENUK
- Approved employers
- Approved employer
- Job role
- Compliance/risk
- Sector
- Accounting - Public practice
- Experience level
- Entry level
As one of the UK's largest Actuarial practices we're market leaders providing insights and solutions for all businesses that face significant and complex risks. We play an important role in supporting clients through uncertain times. Actuaries analyse how future events could affect businesses and we calculate the impact these events could have on our clients. Using our risk and analytical skills and predictive insights, we calculate the impact of changing demographics or legislation on pension schemes, the effects that changes in financial markets have on different organisations, or how likely a business is to be hit by an earthquake.
Actuarial Services is part of our Risk business. Risk is all around us and in our complex world, is changing all the time. Our teams bring people from diverse backgrounds together, using their skills and cutting-edge technology, to help solve complex problems. We are pioneers in a world of changing risk and our market leading services build resilient organisations. Join us and together, we can support our clients to rethink risk.
Actuarial Services
Our Actuarial Services team sits within Risk Modelling Services. We have offices across the UK including London, Edinburgh, Manchester and Bristol. We're one of the largest growth areas within our Risk practice, working across a broad range of clients in sectors including insurance, healthcare, banking, investments and wider business modelling commercial and government. Within the team we have a blend of actuaries, data scientists and advanced analytics practitioners who apply cutting edge technology to solve a variety of client problems.
Our people are encouraged to take responsibility at an early stage and proactively develop their career. We seek to develop accomplished consultants, not just technically strong analysts. This means exposure to a wide range of project situations, often working with specialists from other disciplines within PwC such as Transaction Services, Regulatory, Risk Advisory, Corporate Finance, Business Recovery/Restructuring, Forensics, Audit and Tax. As part of PwC, we are involved with both actuarial led projects, as well as providing specialist advice on wider engagements led by other business units.
Programme
Our summer internships offer students invaluable insight into PwC's business and culture. You'll have the opportunity to experience work and life at PwC, and collaborate with experienced professionals on real client projects. The opportunities to learn and grow are unrivalled - so be prepared to get stuck in.
What you'll do
Actuaries work with uncertainty. You'll help clients analyse how future events could affect them. You'll 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-financial services sector like energy and utility providers. Your advice could cover everything from managing 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.
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'll 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 you'll gain
As an actuarial intern within Risk Modelling Services, you'll work as part of a team in at least one of our client sectors; insurance, healthcare, banking, investments and wider business modelling commercial and government. You'll help clients analyse how future events could affect them.
Discover what a n actuarial career with us is all about, and boost your employability. You'll find out first-hand if this is the career for you - do well, and you could be offered a graduate job. Working alongside specialists, you'll work on client projects to give you the best insight into what we're about. You'll have the opportunity to build networks with your colleagues and peer group.
What you'll need
You'll need to have achieved or be on track to pass an undergraduate degree or above in any subject. We determine whether you're on course to pass based on the grades you achieved in your last completed year of academic study.
Although we don't look for any specific degree or A Level subjects, please note that the Institute and Faculty of Actuaries (IFoA) offers some guidance to those considering a career as an Actuary: https://www.actuaries.org.uk/becoming-actuary/route-becoming-actuary . The IFoA qualification syllabus is rigorous and the examinations are highly demanding, so they recommend applicants have a maths-based degree. If you don't have a maths-based degree, they recommend you take one of their non-member exams to prepare you for the IFoA qualification process.
When to apply
Once you have submitted your application you'll have seven days to complete the online test, this is the first stage of our recruitment process.
Assessment centres for this role will take place between 18 December 2023 - 28 January 2024 or 19 February - 4 March 2024 . We expect to be able to give you at least a week's notice to attend.
Applications for this role may close early should we receive a high volume of interest so we recommend prompt application to avoid disappointment.
Actuarial Services is part of our Risk business. Risk is all around us and in our complex world, is changing all the time. Our teams bring people from diverse backgrounds together, using their skills and cutting-edge technology, to help solve complex problems. We are pioneers in a world of changing risk and our market leading services build resilient organisations. Join us and together, we can support our clients to rethink risk.
Actuarial Services
Our Actuarial Services team sits within Risk Modelling Services. We have offices across the UK including London, Edinburgh, Manchester and Bristol. We're one of the largest growth areas within our Risk practice, working across a broad range of clients in sectors including insurance, healthcare, banking, investments and wider business modelling commercial and government. Within the team we have a blend of actuaries, data scientists and advanced analytics practitioners who apply cutting edge technology to solve a variety of client problems.
Our people are encouraged to take responsibility at an early stage and proactively develop their career. We seek to develop accomplished consultants, not just technically strong analysts. This means exposure to a wide range of project situations, often working with specialists from other disciplines within PwC such as Transaction Services, Regulatory, Risk Advisory, Corporate Finance, Business Recovery/Restructuring, Forensics, Audit and Tax. As part of PwC, we are involved with both actuarial led projects, as well as providing specialist advice on wider engagements led by other business units.
Programme
Our summer internships offer students invaluable insight into PwC's business and culture. You'll have the opportunity to experience work and life at PwC, and collaborate with experienced professionals on real client projects. The opportunities to learn and grow are unrivalled - so be prepared to get stuck in.
What you'll do
Actuaries work with uncertainty. You'll help clients analyse how future events could affect them. You'll 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-financial services sector like energy and utility providers. Your advice could cover everything from managing 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.
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'll 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 you'll gain
As an actuarial intern within Risk Modelling Services, you'll work as part of a team in at least one of our client sectors; insurance, healthcare, banking, investments and wider business modelling commercial and government. You'll help clients analyse how future events could affect them.
Discover what a n actuarial career with us is all about, and boost your employability. You'll find out first-hand if this is the career for you - do well, and you could be offered a graduate job. Working alongside specialists, you'll work on client projects to give you the best insight into what we're about. You'll have the opportunity to build networks with your colleagues and peer group.
What you'll need
You'll need to have achieved or be on track to pass an undergraduate degree or above in any subject. We determine whether you're on course to pass based on the grades you achieved in your last completed year of academic study.
Although we don't look for any specific degree or A Level subjects, please note that the Institute and Faculty of Actuaries (IFoA) offers some guidance to those considering a career as an Actuary: https://www.actuaries.org.uk/becoming-actuary/route-becoming-actuary . The IFoA qualification syllabus is rigorous and the examinations are highly demanding, so they recommend applicants have a maths-based degree. If you don't have a maths-based degree, they recommend you take one of their non-member exams to prepare you for the IFoA qualification process.
When to apply
Once you have submitted your application you'll have seven days to complete the online test, this is the first stage of our recruitment process.
Assessment centres for this role will take place between 18 December 2023 - 28 January 2024 or 19 February - 4 March 2024 . We expect to be able to give you at least a week's notice to attend.
Applications for this role may close early should we receive a high volume of interest so we recommend prompt application to avoid disappointment.
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