Actuarial Student Placement

About the role

At NFU Mutual, our actuaries sit at the heart of our business, helping us understand risk, manage reserves, and make sure we remain financially strong for our customers.

This Actuarial Analyst 12-month opportunity is ideal for undergraduates in the penultimate year of their degree in actuarial science, mathematics, statistics, economics, or another subject with strong mathematical content. As an Actuarial Placement student, you’ll gain hands-on experience and real responsibility from day one.

During your placement, you’ll join our General Insurance (GI) Reserving team – a close-knit, collaborative team of around 8–9 actuaries and analysts working closely together to support key business decisions.

You’ll gain exposure to a range of activities, including:

• Supporting the calculation and analysis of reserves (the money we hold to pay future claims)
• Analysing trends in claims data and identifying key insights
• Contributing to profitability analysis and analysis for pricing and business planning
• Sharing technical management information (MI) and insights with the wider business
• Working with actuarial models and helping to improve processes and reporting

This is a varied and hands-on role where you’ll be encouraged to apply your analytical skills to real business challenges, helping to inform decisions across the organisation.

Your Development

Although you’ll be part of the Reserving team, you’ll also have the opportunity to learn about other actuarial areas and how they connect across the Actuarial function.

We’ll support you throughout your placement with:

• Structured on-the-job training and guidance from experienced actuaries
• Opportunities to build technical skills, including Excel, data analysis, and potentially SQL and Power BI
• Involvement in team and departmental projects

We’ll also support you with any academic requirements set by your university to ensure your placement aligns with your course.

What you’ll gain

By the end of your placement, you’ll have:

• Developed a strong understanding of actuarial reserving within GI
• Built on your practical analytical and problem-solving skills
• Gained insight into how actuarial work supports wider business decision-making
• Experienced life within a collaborative, professional working environment.

This placement is a great opportunity to explore a career in actuarial science and will provide a strong foundation if you’re considering applying to an actuarial graduate scheme in the future.

Application process

If you’re shortlisted, you’ll be invited to complete an online assessment designed to explore your potential for success, including your problem-solving and learning ability. If successful, you’ll be invited to complete a short video interview. The final stage will be an in-person interview at our Head Office where we’ll explore your skills and potential further.

Please note this vacancy may close at any time once sufficient applications have been received. Early submission of your application is therefore encouraged.

About you

To join our Actuarial Placement, you’ll need to be working towards an honour’s degree, studying actuarial science, mathematics, statistics, economics, or another subject with a strong mathematical focus. You’ll also need solid academic foundations in maths and English – specifically an ‘A’ in A-Level Maths (with your other A-Levels at grade B or above) and at least a grade 6 (B) in GCSE English Language.

We’ll be looking for someone who can bring:

• 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) – an advantage, but not essential, as we’ll support you to grow these skills.

Any work experience would be helpful, but it’s by no means a requirement. What really matters is your curiosity, enthusiasm and drive to learn. If you bring an open mind, a positive attitude, and a willingness to get involved, we’ll give you all the guidance and opportunities you need to make the most of your year with us.

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.

Rewards and Benefits

When you join our team, you can expect a supportive culture and an attractive range of rewards and benefits including:

• Salary £31,864
• 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.
• Salary sacrifice employee car scheme - subject to eligibility