Actuarial Analyst

About the role

The Role

• Reserving and reporting: delivering reserving analyses for Motor and Home insurance on a best estimate basis and contributing to internal and external reporting on insurance provisions under IFRS 17 and Solvency II bases.
• Option of supporting standard formula capital calculations depending on interest and experience.
• Data management and analysis: processing, maintaining and analysing claims and policy data, ensuring high data quality, strong governance and accurate, timely management information.
• Actuarial modelling and methods: developing, maintaining and validating actuarial models, assumptions and data requirements, and applying appropriate actuarial and statistical techniques to generate insights.
• Insights and decision support: producing actuarial insights to support business decisions, supported by market and industry research.
• Process improvement: supporting enhancements to reserving and reporting processes, actuarial systems and methodologies, with a focus on continuous improvement.
• Collaboration and stakeholder engagement: working closely with Underwriting, Risk, Claims, Finance and other stakeholders to embed the actuarial function into the business.

We need you to have

• A degree in a numerate subject such as Mathematics, Statistics, Actuarial Science, Economics, Engineering, Physics or a related discipline.
• A strong academic record with excellent numerical and analytical skills.
• An interest in pursuing a professional actuarial qualification through the IFoA (or equivalent).
• Strong communication skills, with the ability to present technical information clearly and work as part of a team.
• The ability to manage and prioritise work effectively to meet deadlines.
• A proactive and structured approach to problem solving.
• A continuous improvement mindset, looking for ways to enhance processes and outputs.
• Flexibility to adapt to the changing insurance market.
• Experience using Microsoft Excel and an interest in developing technical data skills.
• Willingness to work collaboratively in person at our Reigate office at least 2-3 days per week.

And if you have any of these, even better

• Completion of one or more IFoA exams.
• Internship, placement year or project experience in actuarial, insurance, finance, analytics or data-related roles.
• Experience using programming or data analysis tools such as Python, R, SAS, SQL or Power BI.
• Exposure to statistical modelling, data visualisation or predictive analytics through academic studies or projects.
• Knowledge of insurance or financial services gained through coursework, placements or personal interest.

Compensation and benefits

• Starting salary from £38,000 to £47,500 depending on experience plus competitive benefits.
• Generous pension with up to 7.5% employer contribution depending on what you put in.
• Performance related annual bonus.
• 7.2 weeks holiday, with the opportunity to buy more.
• Colleague Clubcard discount (10-15% plus second card to share with someone else).
• Enhanced parental leave.
• Virtual GP Service for you and your family.
• Opportunities to Save and Buy as you earn.

Workplace and schedule

• Location: Reigate, Permanent.
• Hybrid working model with flexibility to work from home and face-to-face time with colleagues.
• This role typically requires 2-3 days per week onsite in the Reigate office.
• Closing Date: 09/10/2026 at 5pm.
• Interviews are expected to be held shortly after closing date.

Why Tesco Insurance and Money Services

How to apply

• Applications are welcome from everyone; candidates who do not align perfectly with every requirement are still encouraged to apply.
• Reasonable adjustments are offered throughout the recruitment process, including interviews.
• Candidates can discuss part time and flexible working opportunities at interview.