2023 Graduate, Actuarial null

About PwC

PwC, as a business advisory organization, provides strategy management, accounting, auditing, taxation, and human resource consultancy services for its clients. PwC clients cut across various industries such as insurance, hospitality, defense, energy, aerospace, health care, banking, automotive, consumer markets, transport, etc.

Your role

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 analyze 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.

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 their clients to use data analysis, visualization, and modeling 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 their Audit team to provide specialist advice on their audits of both insurers and banks, including assuring 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 visualization to explain their findings.

Note: For detailed information about responsibilities, click on the "Apply on employer site" button.

Training, development & rotation

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.

Salary & benefits

The annual salary for this role will range from INR 5 Lakhs to INR 8.5 Lakhs. (Source: AmbitionBox)

Benefits they will offer you:

• A structured induction program that helps you pick up basic but vital technical and business skills and helps you settle in quickly and meet new colleagues.
• Study leaves (about one day a week) and the provision of study materials; plus your 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 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 the option to study at 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, they'll encourage you to identify your own development needs and choose the right training to meet them.

Work-life balance

PwC values its employees and strives to provide the best for them. They constantly provide opportunities for their employees to develop and upskill themselves. Also, provide a vibrant working environment to promote a fun and collaborative work culture. It is also considered a Fast-paced and exciting workplace. A place to learn and gain more skills as the company allows employees to explore new marketing techniques.

Culture & vibe

PwC is an employee-centric organization. The company supports and encourages the personal and professional development of its employees. The company's culture is steeped in a collaborative work environment where knowledge and ideas are shared. 

PwC welcomes different perspectives, ideas, and people, making it an inclusive and diversity-friendly organization. They also welcome the feedback of their employees, encouraging staff members to find their voice and contribute to the decisions made. This is the perfect place for interns and fresh graduates to begin their careers. They learn and grow as they work. 

About you

What they look for:

• Actuarial work is highly analytical and technical as many of their clients are in regulation, finance, or on the board, and the terminology they use isn't something they're usually familiar with. That’s why they need people who can explain complex subjects to non-actuaries in plain English - making a flair for communication and good all-around commercial awareness both crucial.
• Above all, you must be highly numerate as you'll be carrying out complex financial calculations and modeling 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 criterion)
• At least 80% marks in Mathematics in Class XII (CBSE or equivalent)
• At least 80% marks  in English in Class XII (CBSE or equivalent)
• You should be intellectual, willing to learn, able to build relationships, to put yourself in others’ shoes, while always making a positive impact on your clients and each other.

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

• Minimum Grade C in A-Level mathematics or equivalent.
• A second A Level in any subject at a minimum Grade C.

How to apply

To apply for this role, just click on the "Apply on employer site" button below, which navigates to the career page where the application can be submitted directly.