Actuarial Analyst Apprentice Review

My primary role is to perform actuarial calculations and then communicating that information. My most common work is individual calculations where a particular member of a pension scheme with unusual benefits is referred to WTW. These calculations are quite interesting and involve combining excel and in house macros / software. Outside of those, I do an amount of admin style work, answering emails, triaging work and updating large spreadsheets. I have recently started to get involved in larger projects related to GMP equalisation which will involve creating and operating large spreadsheets / pieces of software to do calculations on mass.

I have learnt how to use excel proficiently, both with the standard tools and additional in house functions. I have learnt a lot about general pension legislation and specific scheme benefits in order to accurately perform calculations. Through module study, I have further developed my general mathematical skills including probability, statistics and calculus. I would also say I have developed better communication skills, both written and spoken.

I enjoy it a lot. The people that work here are really friendly and helpful. There is the odd bit of boring work but the vast majority is quite interesting especially to someone mathematically inclined like myself. Figuring out the little details of a complex calculations or considering how best to approach completing a massive group of calculations is challenging and satisfying.

It is well structured. There are three parts to it (outside of the work itself), in house training, BPP study and BPP modules (2 onwards). The in house training has been excellent, it is always in person and is very informative. The BPP study is primarily self driven, the company provides a number of study day (around 18) per exams to prepare. BPP provides a textbook and several full day online tutorials to go over many questions live. Finally, there are written modules which are based on training you cover at work and are a way to create an evidence base for what you have learnt on the programme.

I feel like I receive good support from WTW. My manager regularly checks in on me and is always quick to answers my questions. The study day system has been good and flexible, one time I was sick and I was able to get that study day back. More widely, my team is super helpful and always happy to answer my many questions especially in my first month or two as there was a lot to learn.

I received good support. The online resources for BPP are super helpful with videos and a large selection of practice questions my topic. The tutorials can be a little intense but are very useful to see many types of questions broken down in details. Additionally, I have monthly catch ups with a BPP coach to see how I'm finding the work and the study. I also can and have reached out to her with questions in between these which she answered swiftly and thoroughly.

The qualification (on the technical side) is split into two parts, module 0 and Module 1. Currently I have just completed my module 0 exam and that was focused on a good mathematical grounding in statistics, probability and calculus, all of which come up regularly (albeit a bit less directly) in all of the work that I do. Module 1 I have yet to full start but my previous apprentices my understanding is its much more actuarially focused. Such that now we have the grounding of module 0 we can dig into the specific math behind the calculations we perform, so I expect this module to be much more directly applicable.

Yes, the Reigate WTW office is quite social. We have regular events such as Pub Ask, Football, Netball, Squash and Board game evenings which range from once a month to once a fortnight. Additionally, there will be extra socials in the summer and around Christmas such as Rounders, Christmas social, Business unit Christmas lunches and more. Its also not uncommon for teams or business units to occasionally to go out to lunch together.

Yes

The work is interesting, the people are lovely and the pay is good with potential to grow. If someone is mathematically inclined I would highly recommend this apprenticeship. I had no idea what I wanted to do before getting this job and my first guess wouldn't have been pensions! But I have genuinely enjoyed my time here so far and I would recommend.

The process involved online tests followed by two in person interviews. I would suggest you dress up smart and formal for the interviews. Confidence is key and if your concerned for the interview I highly recommend practicing answering questions with a parent or friend. Also, don't put anything in your CV that isn't true or you can't talk about as a large part of my interview was discussing in details elements of my CV such as my experience tutoring secondary school students in mathematics.