PwC Hiring for Graduate, Actuarial Job at Mumbai Full Time

As one of the UK’s largest Actuarial practices we’re market leaders providing insights and solutions for all businesses that face significant and complex risks. We play an important role in supporting clients through uncertain times. Actuaries analyse how future events could affect businesses and we calculate the impact these events could have on our clients. Using our risk and analytical skills and predictive insights, we calculate the impact of changing demographics or legislation on pension schemes, the effects that changes in financial markets have on different organisations, or how likely a business is to be hit by an earthquake. You’ll learn how to use complex financial and statistical theories to weigh up the risks and estimate the odds of what might happen. Just as important, you’ll develop a flair for presenting your findings in simple, easy‑to‑understand language. What’s more, early client exposure will broaden your experience.

Actuarial Services Mumbai

Actuaries work with uncertainty. You’ll learn how to use complex financial and statistical theories to weigh up the risks and estimate the odds of what might happen. You’ll help clients analyse how future events could affect them. Just as important, you’ll develop a flair for presenting your findings in simple, easy‑to‑understand language and gain from early client exposure which will broaden your experience. There are two business areas – both among the leading actuarial practices in the UK: Risk Modelling Services and People and Organisation.

What you’ll do

Risk Modelling Services:

You’ll work with clients from the insurance industry (both life and general insurance), and 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. Your advice could cover everything from reviewing economic capital, risk management, assessing liabilities, mergers and acquisitions to company restructures, financial modelling,stress and scenario testing, navigating the evolving economic and regulatory environment and the viability of new products.

People and Organisation:

Our Pensions team work with a variety of companies, from large multinationals to private listed businesses. Using our market-leading pensions analytics tool and range of expertise, you’ll help clients develop and implement their pension strategy or benefit schemes, consult on how they should manage both liability and asset risks within their pension plans, negotiate with trustees on how to fund schemes, design plans to help employees save for retirement and advise on potential mergers or acquisitions.

Your responsibilities will include but not be limited to:

• Providing clear and concise communication of complex concepts to internal and external senior management to help clients make robust, evidence based decisions.

• Working in multidisciplinary teams with our clients to use data analysis, visualisation and modelling to better quantify and understand risks facing businesses across a multitude of sectors. This could include quantifying the cost of an insurance contract or understanding how risks can emerge on a major infrastructure project.

• Learning about a range of industries and applying your knowledge of the external environment to understand trends such as how life expectancy will evolve, the impact of climate change on natural catastrophes, or how real world events such as pandemics can affect the financial and banking system.

• Working with our Audit team to provide specialist advice on our audits of both insurers and banks, including providing assurance over the adequacy of liabilities. As an actuary you’ll have exposure to senior stakeholders to understand business plans, profitability and governance.

• Helping clients adapt their business in light of changing economic conditions and regulatory requirements, including Environmental, Social and Governance (ESG) requirements.

• Drafting reports and presentations and using data visualisation to explain our findings.

What we look for

Actuarial work is highly analytical and technical as many of our clients are in regulation, finance or on the board, and the terminology we use isn’t something they’re usually familiar with. That’s why we need people who can explain complex subjects to non-actuaries in plain English – making a flair for communication and good all-round commercial awareness both crucial.

Above all, you must be highly numerate as you’ll be carrying out complex financial calculations and modelling work.

You’ll need

– At least 55% aggregate in your undergraduate degree (for students who are currently in their final year of graduation, they should be on course to satisfy this criteria)

– At least 80% marks in Mathematics in Class XII (CBSE or equivalent)

– At least 80% marks in English in Class XII (CBSE or equivalent)

For students who have taken GCE A Level examination, the eligibility criteria is:

1. Minimum Grade C in A Level mathematics or equivalent

2. A second A Level in any subject at a minimum Grade C

We’ll look out for your intellect, willingness to learn, ability to build relationships, to put yourself in others’ shoes, while always making a positive impact with our clients and each other.

Training and development

Your training combines on-the-job coaching and formal courses with study for professional qualifications.

During your first few years, you’ll divide your time between working in the office and studying to qualify as an Actuary with The Institute of Actuaries of India (IAI) or the Institute & Faculty of Actuaries UK (IFoA), which usually takes four to six years. You’ll start working towards this during your induction training and it’s a hefty commitment, calling for a great deal of self-discipline and motivation.

You’ll benefit from

– A structured induction programme that helps you pick up basic but vital technical and business skills and helps you settle in quickly and meet new colleagues.

– Study leave (about one day a week) and the provision of study materials; plus your own study mentor, someone whose first-hand knowledge of the exams will prove invaluable.

– A pay rise each time you pass an exam to reward you for all your hard work.

– Practical experience of working with multi-disciplinary PwC practices such as Transaction Services, Regulatory, Risk Advisory, Corporate Finance, Business Recovery/Restructuring, Cyber, Forensics, Sustainability, Audit and Tax on a wide range of client projects. This will help you develop analytical, technical, communication, project management and networking skills while building your business awareness and industry knowledge.

– You will be given an option to study from the Institute of Actuaries of India or the Institute and Faculty of Actuaries, UK. Once you’ve completed the exams, you will be fully qualified and a Fellow of your chosen institute.

Ultimately, however, your development depends on you. At every stage of your career, including coming up to qualification, we’ll encourage you to identify your own development needs and choose the right training to meet them.

When to apply

The deadline for applications is 6 February 2023

The deadline for online assessments is 7 February 2023

The deadline for video interview is 9 March 2023

Career Focus Days will be held between 5 April 2023 – 11 April 2023

Senior Interviews will be held between 24 April 2023 – 28 April 2023

Recruitment Process hints and tips

For hints and tips, please visit our Employability Hub, a place where you’ll find useful virtual tools to support you to develop key employability skills.

We look forward to receiving your application and we wish you the best of luck.

Do you need a work permit?
Please take some time to confirm your eligibility for the role. We welcome applications from all candidates but there are restrictions to some areas of our business and some points you should note on our website.

Please note that PwC is unable to sponsor any candidates for some roles as the Home Office’s eligibility criteria will not be satisfied. For a list of these roles, please review the ‘Important information’ section of the work permit page on our website.

The Deal
We want all of our people to feel empowered to be the best that they can be, which is why we have ‘The Deal’.

Find out more about our firmwide Employee Value Proposition: https://www.pwc.co.uk/careers/about-us/the-new-deal.html

Diversity
Valuing Difference. Driving Inclusion

We work in a changing world which offers great opportunities for people with diverse backgrounds and experiences. We seek to attract and employ the best people from the widest talent pool because creating value through diversity is what makes us strong as a business, enabling us to solve important problems and deliver value to our clients. We encourage an inclusive culture where people can be themselves, are valued for their strengths and are empowered to be the best they can be. As an organisation with an increasingly agile workforce, we also support different ways of working offering flexible working arrangements. Learn more here about our work to support an inclusive culture.