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 core actuarial teams - life insurance and general insurance - before a further four six-month rotations. These could be in a number of areas including Policy, Supervision or the Prudential Risk Division. You will also have the opportunity to undertake an external secondment.
The life insurance actuarial team is based in the Insurance Department of Retail Firms Division. The general insurance actuarial team is based in the Wholesale Insurance Department of Wholesale Firms Division. Both of these divisions sit in the Supervision Business Unit.
Each medium or large insurer has an actuary assigned to it. Actuaries in these teams lead the review of the market, credit and insurance risk parts of the Individual Capital Adequacy Standards (ICAS) submission from firms, provide advice to supervisors and attend meetings with firms on actuarial and other technical matters. The actuarial teams also carry out research on the insurance industry and their reports enable benchmarking of individual firms.
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.
You can find out more about how to become an actuary via the following link: www.actuaries.org.uk/students/getting_started