Actuarial Graduate Scheme

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 the Actuarial Graduate Scheme at Lloyds Banking Group, graduates will learn to think strategically, calculate risk, model the unknown, and explain complex ideas so clearly that even their least mathematically inclined friends will finally understand what they do for a living. Over four years, participants will rotate through different actuarial functions, spending around 18 months in each placement. They will see the profession from every possible angle and play a role in reshaping how a modern actuarial team works.

Graduates could be using pricing techniques to calculate premiums for Insurance, Pensions & Investment products, calculating reserves and capital to ensure every valid claim can be paid, analysing experience and using judgement to set the assumptions that drive models, modelling risks using advanced actuarial and statistical techniques, designing tools and models that forecast the future, optimising investment strategies to meet regulations and keep risk in check, and explaining complex concepts to stakeholders while presenting analysis that drives major business decisions.

Participants will get hands-on with Excel/VBA, Python, R, Prophet (actuarial-specific modelling software), Power BI, and other powerful data-driven tools. As Lloyds Banking Group actively modernises its actuarial function, graduates will also work with automation, agile methods, and cutting-edge analytics to deliver faster, sharper insights.

Qualifying as an actuary is a long-term commitment, but Lloyds will act as trainers, energy gels, and finish-line cheer squad. Graduates will have the opportunity to work towards becoming a Fellow of the Institute and Faculty of Actuaries (IFoA), supported by a generous study package—including study days, tutorials, materials, exam costs, and professional subscriptions. Local education leads and study mentors who have been through the same journey will provide guidance. A proven career path awaits, with graduates progressing to Manager and Senior Manager roles and beyond.