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Tormod Teig has extensive work experience in various roles related to risk management and finance. Tormod started their career as a Risk Controller at Western Bulk in 2006 and later held positions such as Risk Manager, Corporate Risk Manager, and Deputy CRO and Head of Business Improvement. In 2015, they joined Finanstilsynet (FSA Norway) as a Tilsynsrådgiver until 2020. From 2021 to 2022, they worked as a Director of Stab at SpareBank 1 Forsikring. Currently, they are the Risk Director (CRO) at KLP, starting in February 2023.

Tormod Teig started their education in 2001 at the Norwegian University of Science and Technology (NTNU), where they pursued a degree in Industriell økonomi og teknologiledelse. This program lasted from 2001 to 2006, and they obtained the degree of Sivilingeniør.

In 2004 to 2005, Tormod Teig was an exchange student at the National University of Singapore. However, the specific field of study during this time is not provided.

Later, in 2018, Tormod Teig enrolled in the University of Oslo (UiO) to pursue Aktuarkompetanse, which they completed in 2021. The field of study during this period is not specified.