Region: Midlands
Location: Stratford-upon-Avon
Contract type: Graduate
Reference number: EACA00052
Working pattern: Full-time
Salary: £30,987 + 10% annual bonus + benefits package
About the scheme
At NFU Mutual, actuaries are right at the heart of our business. They help us understand risk, set fair prices, manage reserves, and make sure we stay financially strong for our customers. We’ve got a proud track record of helping trainees become fully qualified Fellows of the Institute and Faculty of Actuaries (IFoA) – and this scheme is your chance to join them.
During the time you are working towards qualifying as an actuary, you’ll rotate across different actuarial teams, getting exposure to varied work and building a broad foundation before specialising. Along the way, you’ll benefit from a generous study package – funded exams, paid study leave, mentoring, and regular salary increases as you progress. In short, everything you need to succeed in your qualification and your career.
What you can expect
On the scheme, you’ll join one of two actuarial pathways – Finance or Risk. While you’ll start in one, some individuals may have the opportunity to gain experience across both areas, reflecting the close links between them. Each team offers plenty of variety and the chance to make a real impact across both our General Insurance and Financial Services business:
Finance Actuarial
On this pathway you’ll gain experience across several of our specialist finance actuarial teams, including Reserving & Financial Modelling, Profitability & Pricing, and Actuarial Systems & Services. While each team has its own focus, your work will often involve similar core activities – such as designing and improving actuarial models to set reserves, model profitability and set the prices of some of our products, analysing data, and providing recommendations that shape business strategy. You’ll also have the chance to get involved in cross-functional projects, working with colleagues from areas like Sales, Marketing, and IT. It’s a great opportunity to apply your analytical skills to real-world challenges, helping us make informed decisions that benefit both our customers and the business.
Risk Actuarial
This pathway focuses on financial risk, offering you the opportunity to work across several specialist teams, including Life Capital, Group Capital, With-Profits, and Solvency Management. The Financial Risk department plays a vital role in helping the business understand, assess, and navigate risk, enabling us to deliver on our promises to customers and members. We work closely with stakeholders across the organisation to ensure risks are well understood and managed within agreed appetites. Your work will involve supporting business-critical activities such as designing and using actuarial models to evaluate the impact of stress scenarios on the Group’s financial position in a range of plausible and remote events. Your insights will help inform strategic decisions, with opportunities to communicate key insights to non-actuarial colleagues up to and including the CEO and Board.
Your future
We’re serious about your development. From day one, you’ll be supported by a mentor and a strong graduate network. You’ll also take part in regular graduate development sessions over your first three years and as you near the end of the scheme, a careers coach will help you plan your next steps – whether that’s becoming a technical specialist or moving towards leadership.
It’s not all about exams and spreadsheets either. You’ll have the chance to get involved in volunteering, social and charity activities, and even represent NFU Mutual at industry events. These experiences are part of our Environmental, Social and Governance (ESG) commitments and a great way to broaden your skills while giving something back.
Application Process
If your application is shortlisted, you’ll be invited to complete an online assessment designed to measure your potential for success, such as your ability to learn and solve problems. Should you be successful, you’ll move on to a short video interview. The final stage will be an in-person assessment centre, where you’ll participate in a variety of activities, including a group exercise, a role-specific exercise, and a skills-based interview. These will be taking place on Monday 8th December and Wednesday 10th December.
Please note this vacancy may close at any time once sufficient applications have been received. Early submission of your application is therefore encouraged.
What we’re looking for
To join this scheme, you’ll need to have achieved, or be on track for, at least a 2:1 degree in actuarial science, mathematics, statistics, economics, or another subject with significant mathematical content. You’ll also need strong academic foundations in maths and English, but just as important are the skills and qualities you bring. We’ll be looking for:
- Communication and storytelling – the ability to explain complex ideas clearly and bring data to life for different audiences.
- Data confidence and digital literacy – comfortable working with data and eager to build your skills with tools and software used in actuarial work.
- Analytical and numerical skills – a sharp eye for interpreting data, spotting trends, and drawing meaningful conclusions.
- Prioritisation and time management – able to balance multiple projects and deadlines, especially while studying towards exams.
- Problem-solving ability – creative and logical thinking to tackle challenges and recommend practical solutions.
- Attention to detail and accuracy – ensuring your work is reliable, robust, and can be trusted to inform big decisions.
- Knowledge of Excel and programming (SQL/VBA/R/PYTHON) – an advantage, but not essential, as we’ll support you to grow these skills.
What matters most is your enthusiasm to learn and develop within the actuarial field. If you bring curiosity, drive, and a willingness to learn, we’ll give you the support and opportunities to build a rewarding actuarial career.
At NFU Mutual, we support an inclusive workplace and value all the differences that make us unique. We celebrate the creativity and innovation that comes from diverse perspectives and experiences and share a common vision of doing the right thing for our customers and employees.
We recognise that some candidates may experience barriers during the recruitment process. So, we encourage candidates to discuss any adjustments or accommodations they need to be the best they can be throughout our recruitment process.
We’re proud to be a Disability Confident Employer, a Race at Work and Women in Finance Charter signatory and welcome applications from people of all backgrounds, regardless of age, ethnicity, disability, neurodiversity, gender, religion, marital status, sexual orientation, or socioeconomic background.
Benefits and Rewards
When you join our team, you can expect a supportive culture and an attractive range of rewards and benefits including:
- Salary £30,987
- Annual bonus (up to 10% of salary)
- Contributory pension scheme, up to 20%, including your 8% contribution
- 25 days annual leave + bank holidays + buy/sell/save holiday trading scheme
- A Family Friendly policy that helps you balance your work and family responsibilities
- Access to savings at High Street brands, travel and supermarkets
- £20 contribution to a monthly gym membership – subject to T&Cs
- Health and wellbeing plan - cashback for dentist, opticians, physio and more
- Access to voluntary benefits, including health assessments, private medical insurance and dental insurance
- Employee Volunteering – volunteer in the community for one day each year
- Unlimited access to Refer a Friend £500 bonus scheme
- Life Assurance cover of 4 x salary
- Employee discounts of 15% on a range of NFU Mutual insurance policies.
About NFU Mutual
We are a leading provider of General Insurance and Financial Services. From our strong farming roots we’ve grown to become a UK-wide organisation, turning over £1billion annually. Yet success hasn’t gone to our heads. We’re proud to remain completely customer focused, down-to-earth and committed to the rural communities we’ve grown from.
Our ethos – of trust, respect and personal service – lies at the heart of all we do and has seen us build an enviable reputation for exceptional member loyalty. Though we’ve been in business for over 110 years, we have big ambitions for the future. And that’s why we’re looking for talented people to join our growing organisation. Talented people like you.
