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. And we all work together to be brilliant for customers, every single day.
Our Actuarial teams deal with risk on a billion-pound scale. Bringing together the widest range of skills, tools, and information, they calculate the risk involved in any given policy – and ultimately a potential claim. Using market leading techniques, maximised profitability and business-wide connection. That’s how 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.
As a Junior Actuarial Analyst, you will be a key member of the Reserving Team, working closely with senior actuaries to assist in the calculation and analysis of technical reserves. This is a fantastic opportunity to develop your actuarial skills in a collaborative, supportive environment
What you’ll be doing:
During this 42 month programme (potentially shorter with exemptions) you will rotate through the different areas within our Actuarial Reserving team and will have the opportunity to learn about insurance, statistics, actuarial techniques, economics, data analysis and visualisation, whilst working towards becoming an Associate Actuary with BPP.
As an Actuarial Apprentice, you will be a key member of the Reserving Team, working closely with senior actuaries to assist in the calculation and analysis of technical reserves. This is a fantastic opportunity to develop your actuarial skills in a collaborative, supportive environment.
You will report into the SME Squad Leader. The SME Squad is managed across the Corporate Actuarial team (Reserving and Capital Modelling), providing some flexibility to transfer between different areas and products, ensuring continuous development and allowing a broad exposure to various aspects of actuarial work.
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. You will also manage uncertainty and stay aware of business changes and trends. 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 (and other related uses), 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. Whilst proposing improvements to data flow management and handling processes.
- 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, whilst building strong relationships and networks with colleagues in other departments.
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 as well as colleagues across the company.
- 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 wouldn’t be where we are today without our people and the wide variety of perspectives and life experiences they bring. That’s why we offer excellent benefits to suit your lifestyle and a flexible working model combining the best parts of home and office-working, varying with the nature of your role. 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 way of working offers a 'best of both worlds' approach combining the best parts of home and office-working, offering flexibility for everyone. When you'll be in the office depends on your role, but most colleagues are in 2 days a week, and we'll consider the flexible working options that work best for you. Read our flexible working approach here
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. We’re proud of who we are, of what we do, and what every single one of us brings.
Join us. Help us keep innovating and putting customers at the heart of everything. To be an insurance company of the future. When we work together, we can all achieve great things. Inspiring, challenging, and supporting each other to aim higher.
Together we’re one of a kind.
