Challenging and highly technical, actuarial work in pensions gives you the chance to advise some of the world's top employers on issues critical to their ability to reward and retain staff.
Find out more about Human Resource Consulting
Actuarial
What we do
HRC actuaries guide companies through the dramatic and ongoing changes in the pensions industry and advise them on the best way to run pensions and benefits schemes.
Often we advise on issues arising from a merger, acquisition or private equity takeover. We also have a specialist Executive Reward team that helps clients design and implement reward programmes to attract, retain and motivate senior talent. Our combination of thought leadership and robust analysis has a hugely positive effect on the organisations we work with.
Join this part of our Actuarial practice and you'll be in good company. Our HRC team was awarded the Pension and Benefits Consultancy of the Year title at the UK Pensions Awards in 2008, and we advise 40% of the FTSE 100 on executive reward. Just think how much you could learn by working alongside people at the top of their profession.
Our Culture
Actuarial work is demanding. Your first few years will be intense, especially as you begin work towards your qualification. But the more committed you are, and the harder you work, the faster you’ll see the rewards.
We can offer you a huge variety of clients and projects, as well as occasional opportunities to work overseas. You'll be constantly challenged - but given all the support you need. And we'll encourage you to play to your strengths. Let’s say you develop a particular talent for business development for instance. You'll be able to build on that with client selling or relationship management responsibilities.
In the Actuarial HRC team and Executive Reward Consultancy, we’re focused on finding solutions. We want to show clients we can do more than simply understand the issues they come across: we also have the expertise and business insight to solve them.
What you'll do
During your first few years, you'll split your time between office, clients and college, where you'll study for Institute of Actuaries exams. You might work with a multidisciplinary team to understand the financial strength of an organisation so you can work out how much it can afford to pay into its pension scheme. Or you could be advising a company on different ways to reduce a pension scheme deficit.
Within the Executive Reward team, you'll play a big part in helping clients design, evaluate and account for equity-based long-term incentives as well as executive pensions. You'll gain extensive financial modelling skills, including stochastic modelling, and use them to help clients appreciate the key issues they face. Ultimately, you'll be looking to develop your own network of contacts.
Working within HRC and Executive Reward is predominantly office-based. Although the work does involve client visits, it will be rare for you to spend weeks away.
Training & Development
Your training combines on-the-job coaching, formal courses and study for professional qualifications. This involves intensive time at college (usually one day a week) where you’ll study alongside other PwC students.
You’ll benefit from:
- a structured induction programme that helps you pick up basic but vital technical and soft skills and gives you the chance to settle in and meet your new colleagues
- a competitive study package that includes both financial support and a mentor to guide you through the exams
- internal tutorials, often led by former examiners from the Actuarial profession. These help reinforce certain aspects of the study material and give you the extra edge needed to perform well in your exams. While on average it takes six years to become a fully qualified actuary, you’ll gain your qualification in four years thanks to the extra support we offer
- a pay rise each time you pass an exam as a further incentive and to reward all your hard work
- practical experience of working with multi-disciplinary PwC practices such as Tax, Business Recovery or deal experts on a wide range of client projects. This will develop your analytical, technical, communication, project management and networking skills while building your business awareness and industry knowledge.
About you
Actuarial work is highly analytical and technical. And as many of our clients are in HR, finance or on the board, the terminology we use isn't something they're usually familiar with. That’s why we need people who can convey ideas and solutions to non-actuaries in plain English - making communication skills and good all-round commercial awareness both crucial.
Above all, you must be highly numerate as you'll be involved in complex financial calculations and modelling work.
You'll also need a 2.1 in any discipline plus 320 UCAS points (or equivalent), including an ‘A’ in Maths at A level
Your work could make a difference in the ever-evolving and high-profile pensions arena. Or it could impact a major employer's ability to attract, retain - and pay for - top talent. Apply now to find out more.
Next Steps