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Actuarial Graduate Scheme

Develop knowledge and insight to help millions of our insurance customers make the right decisions for their needs.

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Actuarial Graduate Scheme

Duration

4 Years

Salary

£42,000 + fantastic benefits 

Locations

This role is based in Edinburgh. You’ll need to be flexible. Mix office and home working with our hybrid working policy.

Qualifications

Study to qualify as an Actuary and become a Fellow of The Institute and Faculty of Actuaries. Training and costs are all taken care of.

Behind our smart decisions? You

Actuaries are the quiet power behind smart financial moves. Combining sharp analytical thinking, technical and statistical mastery, and commercial awareness to turn numbers into knowledge and predictions into plans. They forecast the likelihood of future events and risks, assessing their financial impact - from how long people might live, to how often accidents happen, to how markets behave - and turn those predictions into financial strategies that stand the test of time. 

On our Actuarial Graduate Scheme, you’ll learn to think strategically, calculate risk, model the unknown and explain complex ideas so clearly your least-mathsy mate will finally get what you do for a living. 

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Four years. Multiple rotations. Maximum impact

Across four years, you’ll rotate through different actuarial functions, spending around 18 months in each placement. You’ll see the profession from every possible angle. And play a role in reshaping how a modern actuarial team works. 

You could be: 

  • Using pricing techniques to calculate premiums for Insurance, Pensions & Investment products. 
  • Calculating reserves and capital so every valid claim can be paid - no drama. 
  • Analysing experience and using judgement to set the assumptions that drive our models. 
  • Modelling risks using advanced actuarial and statistical techniques. 
  • Designing tools and models that forecast the future (without the crystal ball). 
  • Optimising investment strategies to meet regulations and keep risk in check. 
  • Explaining complex concepts to stakeholders and presenting analysis that drives big business decisions. 

 

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Your actuarial arsenal

You’ll get hands-on with: Excel / VBA, Python, R, Prophet (actuarial-specific modelling software), Power BI and other powerful data-driven tools. And because at Lloyds we’re actively modernising our actuarial function, you’ll work with automation, agile methods, and cutting-edge analytics to deliver faster, sharper insights.

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Studying: we make it doable

Qualifying as an actuary isn’t quick, but we’ll be your trainers, energy gels and finish-line cheer squad. 
You’ll have the opportunity to work towards becoming a Fellow of the Institute and Faculty of Actuaries (IFoA) with: 

  • A generous study package - study days, tutorials, materials, exam costs and professional subscriptions. 
  • Local education leads and study mentors who’ve been in your shoes. 
  • A proven career path, with grads moving on to Manager and Senior Manager roles - and beyond. 
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What you get

  • Work that’s challenging, varied and never dull. 
  • Real influence - your work helps shape products, investments and risk strategies. 
  • The chance to help reinvent what it means to be an actuary in a modern, insight-driven bank. 
  • A career that sets you up for long term success and progression. 
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Some of the things you’ll work on

  • Using climate-risk data to forecast future impacts on insurance portfolios. 
  • Presenting your models to senior decision-makers. 
  • Building a pricing model in R or Python. 
  • Creating slick dashboards in Power BI that tell a story in seconds. 
  • Helping shape our investment strategy to match our risk appetite. 
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Your future. Fully backed

By the end of the scheme, you’ll have: 

  • A respected professional qualification. 
  • A deep understanding of risk in insurance, pensions and investment. 
  • A rare blend of analytical skill, technical expertise, and commercial awareness - making you one of the most in-demand professionals in finance. It’s not always easy, but definitely rewarding.  
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Requirements

  • While we do not require a minimum degree achievement, we strongly recommend the ability to be able to demonstrate sound knowledge, understanding and technical skills aligned to the role. Some aspects of this, alongside behaviours and values, will be assessed through the application process. 
  • Please note that we cannot sponsor visas 

This scheme operates in Bristol, Edinburgh or Leeds. You will be in that location for the duration of your scheme. We support hybrid working with at least two days a week in the office 

This opportunity is now closed for applications in 2025. 

Our graduate schemes may close early if we receive a high number of applications, so it’s best to apply as soon as you can.  

You know what’s important to us? Giving everyone the chance to shine in their application. We want you to feel like you belong here, no matter what your background, identity or culture.

Find details on what stages are involved and tips for success on the  how to apply page.

Want to know more?

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FAQs

Looking for help with your application? Need to know more about the interview process? Search our FAQ page to find useful information, tips and support. Find out more
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The application process

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