Location: London
Salary: To circa £120000
Location: London
Salary: Circa £55K
Location: London or Outskirts
Salary: Base to £90K plus ...
Location: London
Salary: Circa £80,000 plus...
Location: London
Salary: £Significant
The Actuarial Placement Scheme - Employer Overview
Our placement scheme is run by actuaries with extensive recruitment experience. It provides the opportunity to take on high quality actuarial undergraduates on a one-year placement.
Through this “year long” interview process, there is no obligation on the employer to offer work to the student beyond the agreed term of the placement. In practice, however, the vast majority of employers do offer actuarial trainee roles to students who have spent a successful year with them. For an employer, this is one of the most significant advantages of offering a placement position to an undergraduate.
Our Process
Our thorough vetting process provides a quick and efficient service for employers to view suitable candidate CVs and interview notes. An outline of our vetting process is:
- Delivering university presentations and attending careers’ fairs.
- Meeting students and careers’ officers face-to-face where possible.
- Screening subsequent registered CVs leaving only the most suitable candidates.
- Undertaking initial interviews to identify the strongest and most committed students.
- Conducting 2nd round interviews and coaching sessions.
- Providing employer access to most suitable candidates’ CVs and interview notes.
Benefits to Employers
1. Expert Screening/Matching to Provide the Best-Fit Students
Our filtering process is rigorous and includes:
- Pre-screening of all CVs to filter out unsuitable students
- Face-to-face interviews - carried out by qualified actuaries - with all students who pass this pre-screening phase
- Short-listing of only those candidates with the potential to become strong and effective actuaries
- A detailed report and summary for each short-listed student
Screening and interviews are carried out by highly experienced actuaries with a fundamental understanding of the qualities and attributes required to become a successful actuary.
This filtering process means that only the very best students are submitted to employers. We are also happy to tailor our screening processes to match specific requirements (for example meeting academic criteria, screening for specific competencies, etc.).
2. Enhancing/Complementing Existing Recruitment Processes
Once students are in their placement year, employers are able to observe them carefully for a full 12 months.
This gives employers an extended opportunity to assess a student's suitability for a full-time actuarial trainee position. There is therefore less chance of offering a job to an unsuitable candidate, and an increased chance of retaining a good student once they have graduated.
Many of the employers we work with are now using our placement scheme as a way of accelerating their graduate recruitment processes. This enables them to identify, and offer trainee roles to high quality actuarial trainees before they graduate, rather than competing for graduates in the traditional milk round.
This gives employers a significant competitive advantage, and also means that they benefit from an experienced graduate who is up to speed from the outset.
3. Obtaining a Flexible and Skilled Resource
During the placement year, employers benefit from a highly motivated, bright and inexpensive actuarial resource - many employers find that placement students are an excellent way of meeting specific resourcing needs (such as short-term project work).
Placement students are fundamentally different to vacation students. Because they are available to work for 12 months, there is sufficient time to train students and give them much more responsible - and productive - work to do.
This means that placement students typically undertake exactly the same work as graduate trainees.
Finally, because they are in the office 5 days a week, placement students provide valuable cover for other actuarial trainees taking study and exam leave.
4. Financial Benefits
Recruiting actuarial trainees through our placement scheme can actually work out significantly cheaper than recruiting final-year students directly.
The overall cost of an actuarial placement student (including our fee) is approximately 30-50% less than an equivalent graduate. This is mainly a result of lower salary levels, no requirement to give study support and the placement student working a 5-day week.
Moreover, if a graduate position is subsequently offered and accepted, then the employer will not need to invest any further time (or cost) bringing the graduate up to full 'working' speed.
