Graduate - Actuarial Programme

Rothesay Actuarial Graduate Opportunities

Permanent roles in Summer 2023

Rothesay is a UK insurance company purpose built to protect pensions. We are the largest specialist pension insurer in the UK, managing over £50bn of assets and securing pensions for over 810,000 people. We secure pensions for over 170 pension schemes and insurers including British Airways, Post Office, ASDA, National Grid and Aegon.

At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.

The role

We have vacancies in the Pricing and Reinsurance team and the Capital team. The Pricing and Reinsurance team focuses on the pricing, underwriting, negotiation and execution of new pension and reinsurance deals, working with a focus on the largest deals in the market. The Capital team focuses on life insurance reporting and the monitoring of regulatory and economic capital, the computation of balance sheet impacts for a wide range of prospective asset and liability transactions, and delivering strategic regulatory-driven projects.

Candidates would be expected to study for the Institute and Faculty of Actuaries (IFoA) qualification with an expected specialism in pensions or life insurance.  When you join us, your work will be highly varied involving all aspects of pensions and insurance actuarial work, and will involve significant interaction both internally with other teams and disciplines throughout the business, and externally, with clients and advisors.  You will need to be able to balance teamwork, intellectual curiosity and leadership potential with a passion for excellence and an interest in the financial markets.

What we offer

• A meritocratic, driven and stimulating environment where success and achievement are rewarded
• Work with support from leaders in the industry and excellent on-the-job training supplemented with class-based business training where best applied
• A competitive starting salary with a performance related bonus
• A full study support package (including a study budget and up to 40 study days per year) will be provided as you work towards your IFoA fellowship qualification

What we are looking for

• We recruit from all academic disciplines; although a high degree of numeracy is essential.
• Impeccable academic credentials are essential. You must have an expected degree minimum of a 2:1 or equivalent from a leading university.
• Internships & work experience in the financial services sector is desired but not essential.
• You will need to demonstrate a clear interest and intellectual curiosity in the financial markets and an interest in applying your knowledge and skills to the pension insurance market.
• You must be available for permanent work within 2 months of your graduation in 2022
• Fluency in English is a prerequisite.

How to apply

• You will need a 1 page CV, with a cover letter (PDF format) that states in 300 words or less why you want to work for Rothesay.
• Please additionally submit a one page briefing note (PDF format) on the challenges facing defined benefit pension schemes and the importance of the pension buyout market as a solution for these pension schemes. You should include a comment on Rothesay’s role and position in the buyout market. You should base your submission on publically available information, such as media coverage and our press releases.
• Applications will be reviewed on a regular basis so early application is encouraged. The times for interviews will be confirmed to applicants who are invited for these rounds. 

Competencies:

• Functional Expertise - Keeps up-to-date with emerging business, economic, and market trends
• Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
• Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
• Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
• Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
• Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
• Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
• Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
• Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations

Inclusion Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.

Disclaimer This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level.  The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request.  There are no specific health risks associated with the role.