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High Automation Risk

This role has an above-average probability of significant AI or automation disruption. Consider upskilling and monitoring AI tooling in this sector.

Trainee Actuary

Full TimePermanentNot specifiedFinance
Posted 15 March 2026Closes 7 April 2026

Job Description

A career in our Actuarial Services practice will give you with the opportunity to contribute to providing advice and consulting services to clients such as insurers, banks, regulators, and lawyers. You'll provide advice covering solvency, economic capital, risk management, mergers and acquisitions, company restructuring and risk control, financial modelling, underwriting, new legislation, and the efficiency of claims or reporting processes. Simply put, you might help analyse the impact that new regulation will have on an insurance company's balance sheet or you could be revising businesses' projections and making sure they have adequate reserves. Our team helps clients address new financial reporting requirements by assessing the financial and business impacts, building implementation plans, and implementing relevant requirements, particularly across areas of financial and actuarial reporting. To really stand out and make us fit for the future in a constantly changing world, each and every one of us at PwC needs to be an authentic and inclusive leader, at all grades/levels and in all lines of service. To help us achieve this we have the PwC Professional; our global leadership development framework. It gives us a single set of expectations across our lines, geographies and career paths, and provides transparency on the skills we need as individuals to be successful and progress in our careers, now and in the future. As an Associate, you'll work as part of a team of problem solvers, helping to solve complex business issues from strategy to execution. Actuarial Services: Our Actuarial Services team, you'll work with clients from the insurance industry (both life and general insurance), but also from the banking sector (retail and investment), the healthcare sector, the public sector, as well as corporate clients from the non-financial services sector like energy and utility providers. What you'll do: Your advice could cover solvency, assessing liabilities (including providing assurance over the liabilities of our financial services audit clients), economic capital, risk management, mergers and acquisitions, company restructuring and de-risking, financial modelling, stress and scenario testing, underwriting, new legislation, the viability of new products, Environmental, Social and Governance (ESG), and the efficiency of claims or reporting processes. Programme: Our graduate training programme is underpinned by a development framework that broadens and deepens your knowledge. You'll learn from hands-on coaching and an outstanding variety of work, picking up business, personal and technical skills you can use across the network, and throughout your career. What you'll need: To have achieved 120 UCAS points/32 IB points excluding General Studies and one of these subjects should be Maths. You should also have achieved or be on track for a 2:1 in your degree What you'll gain: During our programme, you'll study with the Institute and Faculty of Actuaries. Once you've completed the exams, you'll then be fully qualified and a Fellow of the Institute of Actuaries. To find out more and to apply please visit https://www.pwc.com/im/en/careers/current-opportunities.html

Automation Risk

Automation probabilityi48%
AI exposure (AIOE)i72%

Many core actuarial tasks, such as data analysis, modelling, and report drafting, are increasingly supported by advanced AI and analytics tools, raising exposure to automation and augmentation. However, the need for professional judgment, regulatory interpretation, and client-facing communication keeps overall automation risk moderate. The role is highly exposed to GenAI augmentation, especially in data-heavy and documentation tasks.

Task analysis

  • Analyze statistical data to estimate insurance liabilities and required reserves.
  • Assist in building and validating financial models for solvency and risk assessment.
  • Prepare and review actuarial reports for clients and regulatory bodies.
  • Support the implementation of new financial reporting requirements for clients.
  • Collaborate with multidisciplinary teams (e.g., underwriters, accountants, programmers) on client projects.
  • Advise clients on the impact of new legislation and regulatory changes.
  • Contribute to the design and review of insurance and pension products.
  • Participate in client meetings to explain technical actuarial concepts and recommendations.
  • Monitor and assess the efficiency of claims or reporting processes.

Automatable AI-assisted Human-only

Occupational Classification

✨ Bright Outlook🔬 STEM🇬🇧 UK Skilled Worker Visa Eligible
UK SOC2020: 2425Actuaries, economists and statisticians
O*NET: 15-2011.00 Actuaries
AI analysis: 15 March 2026

UK Salary Benchmark

Financial service activities, except insurance and pension funding · ONS ASHE 2024 annual earnings

scale £90k
UK sector median
£58,597
UK sector mean
£86,468
£0£23k£45k£68k

👤 For Candidates

AI & future-of-work guidance

🤖 Enhance with AI

  • Leverage AI tools for rapid data analysis and scenario modelling.
  • Use GenAI to draft and review actuarial reports efficiently.
  • Upskill in AI-driven regulatory analytics and compliance tools.

📈 Disruption outlook

12%1 yr
35%5 yrs
55%10 yrs

% risk of significant disruption

🎓 Learn now

📚 For full-time, part-time & evening courses on the Isle of Man, visit University College Isle of Man (UCM)

🏢 For Employers

Strategic hiring options & technology alternatives

🔄 Alternatives

🤖 AI AgentAzure OpenAI Service

Automates data analysis and draft report generation.

💻 TechnologyPower BI

Visualises actuarial data and automates reporting dashboards.

🌍 OutsourcingSpecialist Actuarial BPO

Offloads routine modelling and reporting tasks offshore.

Recommendation

🔀 Hybrid approach

AI augments modelling and reporting, but human judgement remains essential.

Microsoft Copilot & M365

Power BI

Automate actuarial dashboards and data visualisation.

Copilot for Excel

Accelerate complex actuarial calculations and model validation.

Copilot Studio

Draft technical reports and regulatory summaries efficiently.

Key Skills

Data AnalysisIntermediateCritical ThinkingIntermediateFinancial ReportingBeginnerRisk ManagementBeginnerReport WritingBeginnerAttention to DetailIntermediateTeamworkIntermediateRegulatory ComplianceBeginnerMicrosoft ExcelIntermediateStakeholder ManagementBeginnerProject ManagementBeginner

Knowledge Areas

Mathematics and StatisticsFinancial Analysis and ReportingRegulatory ComplianceEconomics and AccountingFinancial Services IndustryData Analysis and ReportingBusiness Management

O*NET Competency Skills

Critical ThinkingJudgment and Decision MakingMathematicsReading ComprehensionActive ListeningComplex Problem SolvingSystems EvaluationSpeakingSystems AnalysisWritingActive LearningMonitoringCoordinationOperations AnalysisService Orientation

Alternative Career Paths

Risk Analyst85% match

Applies quantitative analysis to identify and mitigate financial and operational risks for organizations.

Financial Analyst80% match

Performs financial modelling and analysis to support business decisions and investment strategies.

Insurance Underwriter75% match

Assesses risk and determines policy terms and pricing for insurance applicants.

Management Consultant70% match

Advises organizations on strategy, operations, and process improvements, often leveraging quantitative skills.

Also Consider

🔥 Hot Technologies

In-demand tools for this occupation (O*NET)

Microsoft AccessMicrosoft SQL ServerOracle DatabaseStructured query language SQLMicrosoft PowerPointIBM SPSS StatisticsSASC++Oracle JavaPythonR

Work Activities

General work activities from O*NET

  • Analyzing Data or Information
  • Processing Information
  • Working with Computers
  • Getting Information
  • Making Decisions and Solving Problems
  • Communicating with Supervisors, Peers, or Subordinates
  • Updating and Using Relevant Knowledge
  • Evaluating Information to Determine Compliance with Standards
  • Interpreting the Meaning of Information for Others
  • Identifying Objects, Actions, and Events
  • Communicating with People Outside the Organization
  • Providing Consultation and Advice to Others
  • Organizing, Planning, and Prioritizing Work
  • Establishing and Maintaining Interpersonal Relationships
  • Estimating the Quantifiable Characteristics of Products, Events, or Information

Anthropic Economic Index

Real-world AI adoption data from millions of Claude conversations · Dataset ↗

CC-BY Research

Observed Claude Usage

5%

of conversations

Classic Auto. Risk

21%

Frey & Osborne

Job Zone

4/5

Considerable prep

O*NET Median Salary

£81k

US ref. $103k · fx 0.79

Occupational family: Computer and Mathematical

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