Our actuaries support the FSA's supervisory teams and assist in policy reviews. Over the course of this programme, you'll spend six months with each of our actuarial teams - life insurance and general insurance - before a further two six-month rotations in policy and supervisory roles.
The life insurance actuarial team is based in the Insurance Department of Retail Firms Division. Each life insurer has an actuary assigned to it. These actuaries lead the review of the market, credit and insurance risk parts of the Individual Capital Adequacy Standards (ICAS) submission for the firm, provide advice to the supervisor and attend meetings with the firm on actuarial or technical matters. The life actuarial team carries out research on the life industry and its reports enable benchmarking of individual firms.
The general insurance actuarial team is based in the Wholesale Insurance Department of Wholesale Firms Division. General insurance actuaries are involved in the review of ICAS submissions and other issues relating to firms where specifically requested by the supervisor.
In order to increase your all-round knowledge and commercial awareness, you'll also be seconded to an actuarial role within an external organisation for six months.
Throughout the programme, we'll give you time off for study when necessary and we'll also sponsor you to qualify as a Fellow of the Institute of Actuaries and pay for your tuition, exam fees and study materials.
Fellow of the Institute of Actuaries www.actuaries.org.uk/students/qualifications