Advisory & Consulting - Actuarial Industrial Placement

Job Details

Advisory & Consulting - Actuarial Industrial Placement

Forvis Mazars : who are we?

Forvis Mazars LLP is the UK firm of Forvis Mazars Group. In the UK we have over 3,300 employees across 14 locations, delivering an outstanding client experience. Forvis Mazars is an engine for rapid and consistent career progression, offering career paths that help you pursue your interests, match your changing needs, and explore your true potential. We work with diverse, prestigious clients across a range of sectors and geographies, giving you the opportunity to constantly update and grow your skills for lifelong professional development. You can find out more about our firm here.

Advisory & Consulting at Forvis Mazars

At Forvis Mazars, our Advisory and Consulting service line is an award winning, global group of successful, entrepreneurial teams. The scope of roles across our service line is broad and varied which is great for our team and clients. The diversity of our service offering enables us to make the time we spend with our clients count by helping them take meaningful, key decisions with confidence and meet their goals.

In Advisory & Consulting, collaboration is at the core of all we do. We have over 700 experts across our teams who operate as subject matter experts across our 7 business units: Crisis and Disputes, Deals and Financing, Financial Services Consulting, Management Consulting, Infrastructure Energy, Sustainability Services and Digital and Risk Insurance, with the aim of adding value to clients by finding solutions to a range of financial issues as one collaborative team.

Join a team that prioritises quality and trust. Our team is commercial, pragmatic, and reactive to the changes in the market whilst also taking the time to ensure our approach is personal and productive.

You can find out more about Advisory and Consulting at Forvis Mazars here: Advisory & Consulting UK team

About the Actuarial Team

The Actuarial team at Forvis Mazars is part of the Insurance Risk Consulting (IRC) department, a rapidly growing and globally successful group of teams. We collaborate to offer a unique market differentiator while consistently delivering top-quality work for our clients.

Our expanding Actuarial team provides a variety of traditional actuarial services to clients across both the general and life insurance industries. This includes reserving, capital management, Solvency II assessment, IFRS 17 compliance, and other regulatory requirements. We work with insurance companies in multiple lines of business, including aviation, cyber, property, motor, individual & bulk purchase annuities, whole-life insurance, with profit, unit linked, etc. Our operations span the London Market and Lloyd's across the UK and Europe.

We also collaborate closely with various other teams, including Risk Assurance, Financial Services consulting, Audit, and Forensics, to provide services such as internal and external audit, Independent Expert reviews, claims consulting, and statistical sampling. We operate a hybrid working model, so on your industrial placement, you will split your time between working from home and visiting the office or client sites when required.

Hear from one of our graduate trainees, Arunan:

Being a part of the actuarial team has given me hands-on experience with much of the technical work we carry out, while also providing a good network and system to support my exams and my apprenticeship. It has also given me exposure to working with a variety of clients and team members at Forvis-Mazars. I've learned a lot from our extensive team and have felt supported throughout my transition into my first full-time role post-university.

Every story is different at Forvis Mazars. Our people have amazing, personal experiences so the best way to learn about life here is to hear it first hand, click here to hear their stories.

About the role

Our Actuarial team helps insurance organisations manage financial risk by analysing past data and advising on financial implications using our in-house reserving models. Industrial placement students joining this program will gain expertise in actuarial skills such as reserving, data analytics, and regulatory reporting, alongside key consulting skills. You will work with some of the world's most recognisable companies, including those listed on the London Stock Exchange, as well mutual and proprietary businesses. Our Actuaries work across both life and general insurance industries, addressing diverse client needs.

As part of our General Insurance team, you will:

• Perform independent calculations to estimate reserves for different classes of insurance;
• Perform detailed testing of claims data to challenge management on trends in large and unusual movements;
• Review the methodology and assumptions selected by management in their calculation of reserves;

As part of our Life Insurance team, you will:

• Create independent cashflow models for products such as annuities, whole life, and term assurance, and compare the output with models received from clients.
• Review methods to derive assumptions such as lapse, mortality, longevity, mortality trends, morbidity, expenses, discount rates (both deterministic and stochastic), and matching adjustments used in the cashflow projection models.
• Use actuarial techniques to create independent expectations to review assumptions related to annuities, whole life, term assurance, and health products.

Other general activities will include:

Provide support in writing technical reports

Assist in creating presentations in non-technical language for non-actuaries

Develop client relationships through meetings, social activities, and gaining an understanding of their business/industry.

Subject to performance on the placement, you will be offered a permanent role to return in September 2027 in the actuarial team. After completing your degree, you will re-join as a second year trainee and commence your fully funded actuarial qualification (Institute and Faculty of Actuaries, IFoA).

What we're looking for

• You must be in the penultimate year of your undergraduate university course (the placement must take place either in your 2nd year of a 3 year course or 3rd year of a 4 year course)
• On track to receive a 2.1 or above in a relevant degree (e.g. Maths, Physics, Economics, Engineering or Actuarial Science)
• An 'A' or above in A-Level Mathematics or equivalent qualification;
• Deep curiosity to learn new things and is naturally inquisitive;
• The ability to think critically solve problems and share knowledge with others;
• A commitment to self-development and learning;
• Strong sense of ownership of duties and high levels of responsibility to deliver on promises;
• Always looks to try their best in all they do and always looking for ways to improve;
• Enjoys meeting and engaging with new people with an underlying respect for individuals, diversity, and integrity;
• Works well under pressure and have a positive ‘can-do' attitude if faced with challenging situations;
• Excellent time management skills;
• A willingness to travel and adhere to our flexible working environment.
• Learning and development

If you are offered a permanent role to return at the end of your placement, you will re-join as a second year trainee and commence your actuarial qualification (Institute and Faculty of Actuaries, IFoA.)

Our supportive culture includes coaching, mentorship, and one-on-one guidance. You will be allocated a buddy before joining who will support you to settle into the team and navigate your first year at Forvis Mazars.

You will also receive comprehensive quality training and development to excel in your professional career; this includes development in professional excellence, client excellence, digital excellence, and technical excellence. Our goal is to support you in reaching your full potential and become a standout talent. To understand more read our FAQs.

Inclusion and diversity

Being inclusive is core to our culture at Forvis Mazars; we want to ensure everyone, whether in the recruitment process or beyond, is fully supported to be their unique self and provided with a level playing field. To read more about our approach click here.

Next steps

Roles will be closed as soon as we find the right people, so to avoid disappointment we encourage you to submit your application as soon as possible. If you are an international applicant and/or require a visa please view our FAQs before applying to be aware of deadlines and important information you need to know before applying.

About Forvis Mazars

Forvis Mazars LLP is the UK firm of Forvis Mazars Group. In the UK we have over 3,300 employees across 14 locations, delivering an outstanding client experience. Forvis Mazars is an engine for rapid and consistent career progression, offering career paths that help you pursue your interests, match your changing needs, and explore your true potential. We work with diverse, prestigious clients across a range of sectors and geographies, giving you the opportunity to constantly update and grow your skills for lifelong professional development. You can find out more about our firm here. 

How to apply

To apply for this role and to find out more, please click on the apply button.

Please note that applications may close before the application deadline, so apply early to avoid disappointment.