Actuarial Consulting - Pensions

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Introduction to the Stream

UK companies presently have approximately £2 Trillion invested in pension schemes, more than the rest of Europe put together. That's a breathtaking sum, but the question remains whether individual companies have set aside enough to meet their pensions' obligations 20, 30 or even 40 years down the line. People are living longer than ever before and the recent economic turmoil has demonstrated that those who manage pension schemes cannot always rely on good investment returns to help meet the costs of the benefits promised.

A market leader in actuarial consulting, Aon has been advising companies and trustees on their defined benefit pension schemes for over 60 years. Our Actuarial Consultants specialise in advising our clients on those schemes to help them manage the associated financial and operational risks, now and in the future.

Locations - Immediate:

Bristol, Epsom, Manchester, St Albans

Locations - August 2019:

Birmingham, Bristol, Epsom, Farnborough, Glasgow, Leeds, London, Manchester, St Albans

The role

As an Actuarial Analyst, you will find that no two days in the office are the same. You will work on a range of client teams with colleagues who advise either the trustees who manage the pension scheme, or the company that provides it.

Our aim is for you to develop into a trusted advisor for your clients as soon as possible. This will be achieved through developing both your technical and consulting skills – including communication techniques, project management and networking. Throughout your career with Aon, you will continually improve your commercial awareness and professionalism which will make you stand out as a successful consultant.

You will get involved with:

  • Regular assessment of the financial position of the pension scheme
  • Identifying and implementing ways for trustees and companies to reduce the risks in relation to their schemes, such as longevity, investment and inflation risk
  • Calculations relating to the pension scheme for the company's financial accounts
  • Calculations in respect of individual pension scheme members' benefits
  • The day-to-day management of the pension scheme
  • Estimation of Pension Protection Fund levies, often a significant annual cost for our clients
  • Corporate transactions – i.e. when a merger or acquisition of companies takes place, the liabilities of the companies' pension schemes need to be taken into account in the deal
  • The final close-down of the schemes when risk is passed to a third party

You will be given opportunities to work on various projects and gain early exposure to clients to support your development. We also provide the opportunity for you to be involved in one of our internal specialist teams. These teams work with a range of industry acknowledged thought leaders in order to provide our global clients with the best advice possible

Training and development

There will be plenty of on-the-job experience. As a graduate, you will also enjoy technical and consulting workshops. These will give you the skills and competencies needed to continue to provide innovative solutions to meet our clients' needs, as well as building your confidence and experience in proactively managing client relationships.

As you progress through your career, you will have access to a menu of training options to supplement your experience and help you develop into a Consultant and Actuary more quickly. Our courses are fully interactive to ensure you get a chance to practice the consulting elements of the topic with your peers.

Exposure to opportunities available in the Investment business and working closely with our Investment colleagues will also help you to develop into a well-rounded Consultant, providing high quality to our clients.

We want you to be as successful as possible, so we will fully support your study towards professional qualification as a Fellow of the Institute and Faculty of Actuaries. This includes providing you with a full range of study and tuition materials designed to support rapid progress through the exams, together with paid study leave to help you work towards the exams more effectively and financial rewards for successful exam sittings.

Requirements

To apply for this Stream, you must be educated to degree level with a 2:1 or equivalent qualification in a numerate/semi-numerate discipline and a 'B' or above in Maths A-level, or equivalent. Strong commercial awareness, lots of ambition and an enthusiastic approach are also important.

Application timetable

Applications open: 1st October 2018
Application deadline: 2nd January 2019
Assessment centres: November 2018 to March 2019

Events

Aon will be attending careers fairs, skills sessions and presentations throughout the autumn.
Our events provide an excellent chance for you to get to know more about the opportunities Aon has to offer and to meet people who can answer your questions.

Date University
Friday 28th September 2018 Cass Autumn Careers Fair
Tuesday 2nd and Wednesday 3d October 2018 Scottish Graduate Fair 2018
Thursday 4th October 2018 Imperial Finance and Consulting Careers Fair - Day 2
Monday 8th October 2018 Leeds - Autumn Fair
Tuesday 9th October 2018 Manchester - The Big Careers Fair (Day 1)
Tuesday 9th October 2018 Edinburgh University Careers Fair
Wednesday 10th October 2018 UCL Careers - Banking, Finance & Economics (Day 2)
Thursday 11th October 2018 Cambridge Banking and Finance Event
Thursday 11th October 2018 Warwick Autumn Careers Fair 2018
Thursday 11th October 2018 Birmingham Autumn Careers Fair 2018
Friday 12th October 2018 St Andrews
Tuesday 16th October 2018 Oxford University Finance Sector Fair
Tuesday 16th October 2018 Bristol - The Employer Showcase 2018
Wednesday 17th October 2018 Heriot-Watt Actuarial Careers Fair
Wednesday 17th October 2018 University of Nottingham - Management, Consulting and Finance Fair
Thursday 18th October 2018 Bath Autumn Careers & Placement Fair 2018
Thursday 18th October 2018 University of Southampton All Sectors Fair
Tuesday 23rd October 2018 Durham Careers and Placement Fair
Tuesday 23rd October 2018 Exeter Careers and Placement Fair
Wednesday 24th October 2018 Cambridge - Careers for Mathematicians
Wednesday 31st October 2018 Cass Business School Undergraduate Work Placement & Internship Fair 2018
Tuesday 13th November 2018 London South Bank University - Business Career Fair