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Actuary

Analysing data to predict the likelihood and potential financial risk of future events.

Summary of this apprenticeship standard

Level

7 (equivalent to master’s degree)

Typical length
36 months
Current funding band
Up to £18,000 per apprentice.
More information about funding
Entry requirements

Set by employer. Candidates will usually have a degree in subjects such as mathematics, statistics, economics, engineering, chemistry or physics.

What apprentices will learn
  • using data analysis techniques to evaluate financial risks
  • understanding company accounts and financial statements
  • working with statistics to identify and solve problems
Qualifications
  • before taking their end-point assessment apprentices must have achieved level 2 English and maths (equivalent to GCSE grades 9 to 4 or A* to C)
Professional registration

Apprentices who have completed their apprenticeship will be eligible to apply for associateship membership of the Institute and Faculty of Actuaries (IFoA). Apprentices with suitable experience could also be eligible for progression into the fellowship of the IFoA.

How apprentices are assessed

A government-approved organisation must assess apprentices towards the end of their apprenticeship.

This end-point assessment ensures apprentices achieve the skills, training and any qualifications necessary to complete their apprenticeship.

You can download the assessment plan from the Institute for Apprenticeships. There are no end-point assessment organisations for this apprenticeship yet. Please email apprentice.assessment@education.gov.uk if you urgently need an end-point assessment organisation.

More Information

The Institute for Apprenticeships has more detailed information about this apprenticeship.

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