Actuarial Apprenticeship

Actuaries at Lloyds Banking Group don’t rely on crystal balls — they rely on sharp minds, advanced maths skills, and cutting-edge technology to anticipate future trends. They’re the experts who forecast everything from life expectancy and accident frequency to market behaviour and economic shifts. Their work ensures that the financial promises made today remain secure for decades to come.

Those joining as Actuarial Apprentices won’t simply observe — they’ll be actively involved in shaping major decisions from early on. This apprenticeship offers a gateway into one of the most influential careers in Finance. Apprentices rotate through different teams, spending approximately 18 months in each placement, gaining hands-on experience and discovering the breadth and impact of actuarial work.

They may be involved in:

• Pricing insurance, pensions, and investments using specialist techniques to ensure fairness and competitiveness.
• Calculating reserves and capital to ensure future claims can be paid when customers need support.
• Applying actuarial and statistical modelling to assess and prepare for a wide range of risks.
• Designing and developing actuarial models and software to predict outcomes and guide strategic decisions.
• Analysing historical data and trends to set smart assumptions that power financial models.
• Optimising investment strategies to align with regulatory requirements and risk appetite.
• Communicating complex concepts to stakeholders and presenting financial results that influence strategic thinking.

Throughout the programme, apprentices will master the creation, verification, and review of accurate, timely financial information. They’ll work with advanced tools and technologies such as Excel/VBA, Python, R, Prophet, and Power BI, while developing key skills in maths, problem-solving, data storytelling, and communication. By the end of the apprenticeship, they’ll have the confidence to explain complex ideas clearly — a valuable skill in any career.