Admiral Group is offering an exciting opportunity for a graduate to kickstart their actuarial career with Admiral Group's Actuarial Reserving Team, a core part of our Group Finance function. As a Graduate Actuarial Trainee, you'll be immersed in a dynamic and collaborative environment where your analytical skills will directly influence financial decision-making and risk management strategies. This role offers a unique opportunity to gain exposure to a wide range of actuarial disciplines, including Solvency II, IFRS17, and capital modelling, while working closely with senior stakeholders across the business.
You'll receive structured on-the-job training, mentorship from experienced actuaries, and full study support towards your actuarial qualification (FIA or AIA). From day one, you'll be contributing to meaningful work that supports the financial health and regulatory compliance of one of the UK's leading insurers.
Key Responsibilities
* Support the quarterly reserve review process, including data extraction, trend analysis, triangulation projections, and preparation of internal reports for senior management.
* Contribute to the end-to-end production of Solvency II Technical Provisions, including best estimate liabilities and risk margin calculations, ensuring compliance with regulatory standards.
* Participate in the review and documentation of IFRS17 best estimate reserves, including the enhancement of reporting templates and process.
* Support the valuation of Periodical Payment Orders (PPOs) using bespoke actuarial models, ensuring assumptions are robust and results are clearly communicated.
* Assist in the enhancement of reserving models and tools, including automation of processes and migration to new data systems.
* Collaborate with the Capital Modelling team to provide reserving inputs for capital assessments and stress testing scenarios.
* Build strong working relationships with Claims, Pricing, Risk, and Finance teams to ensure alignment on reserving assumptions and emerging trends.
* Participate in regular Claims Forums and Pricing discussions to provide actuarial insight and support business decision-making.
* Liaise with internal and external auditors, as well as second-line Risk Actuaries, to support independent reviews and ensure transparency in reserving practices.
* Prepare and deliver clear, concise reserving reports and MI packs for internal stakeholders, including senior management and regulatory bodies.
* Present findings and insights to both actuarial and non-actuarial audiences, translating complex technical results into actionable business intelligence.
Key Skills, Qualifications And Experience
* 2:1 undergraduate degree in a numerical or analytical degree (for example Actuarial Science, Maths, Statistics, Data Science, Economics, Engineering or Physics)
* Strong in numerical, analytical, and problem-solving skills.
* Effective communicators with the ability to explain complex concepts to non-specialists.
* Organised, self-motivated, and capable of managing multiple priorities.
* Proficient in Microsoft Excel and Word; experience with VBA, SAS, or RESQ is a plus.
* Enthusiastic about pursuing an actuarial career and committed to professional development.
Please note - we may close this vacancy early if we receive lots of applications or business priorities change.
Admiral: Where You Can
We take pride in being a diverse and inclusive business. It's a place where you can Be You, and show up as you are. We're committed to fostering a people-first culture where everyone is accepted, supported, and empowered to be brilliant. You can, Grow And Progress at a pace and direction that suits you, Make A Difference for our customers and each other, and Share in Our Future with all colleagues eligible for up to £3,600 of free shares each year after one year of service.
Everyone receives 33 days holiday (including bank holidays) when they join us, increasing the longer you stay with us, up to a maximum of 38 days (including bank holidays). You also have the option to buy or sell up to an additional five days of annual leave.
We're proud of our people-first culture. In fact, we've been recognised as a Great Place to Work for Women, a Great Place to Work for Wellbeing, and an overall Great Place to Work for over 25 years We're fully committed to making sure your progression is not slowed or halted by barriers related to race, gender, age, sexuality or any of the protected characteristics.
Our fantastic benefits make sure our colleagues have a great work-life balance; You can view some of our other key benefits here.