Documente Academic
Documente Profesional
Documente Cultură
ActuAries 2013/14
Hi, Im
Athena
I work at Towers Watson,
and today I did something
extraordinary.
WhAts inside
actuaries
all about the profession
NEW Internship profiles
Graduate & senior profiles
salaries & career paths
Professional qualifications
yourimagination. employer directory
Youve nearly completed your degree, and youre ready for whats next: a job that will inspire you,
make you think and put your skills to the best use.
But dont you really want more than that? Go beyond your expectations at Towers Watson.
If you join us, youll often be challenged to do something extraordinary. From the start, youll team
with senior associates to learn on the job and interact with clients on projects that help improve their
business. And along the way, youll be in charge of your own career, working with your manager to
decide whats next and how to get there. Sound good? Then plan to Go Beyond at Towers Watson.
Benefits
2013/14
towerswatson.com
Copyright 2013 Towers Watson. All rights reserved. graduate jobs l internships & placements l career advice
www.insidecareers.co.uk/act
TW-EU-2013-33153a
your
actuarial career
starts here
Contents
05 Introduction
The profession
08 What is an actuary?
10 Why be an actuary? furTher sTudy
12 Actuarial areas of work
15 Salaries & benefits
16 Trends in the pensions sector
18 Frequently asked questions
inTernship profiles
employer direcTory
22 Barnett Waddingham Actuarial Trainee
24 Mercer Trainee Actuary
graduaTe profiles
28 AXA Actuarial Analyst
30 SunGard Graduate Actuarial Analyst
32 PwC Consultant recruiTmenT consulTanTs
34 Guy Carpenter Actuarial Analyst
senior profiles
Introduction
The actuarial profession is one that is well regarded and rewarding. Consistently highly rated, the
profession has received particular attention recently for outperforming other professions and
topping polls in 2013 as the most desirable career.
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WHAT IS AN ACTUARy?
08
WHy BE AN ACTUARy?
10
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08
THE PROFESSION
what is
AN ACTUARY?
Actuaries are more than just number crunchers: they not only have to be good
at maths, but be innovative thinkers and problem solvers, helping companies to
manage their risk.
Actuaries analyse past and present data to hard work, so ensure you work towards your
solve real business problems. A lot of actuaries actuarial qualifications with a firm that really
work is about risk management: assessing how supports you, meets the costs associated
likely an event may be and the costs associated with your exams and study, provides you with
with it. Actuaries predict and measure study leave and also gives you the practical
emerging risks and then help to reduce them, experience you need to make your mark.
putting financial safeguards in place.
Career paths
An actuarys early training has a split focus on
passing the professional exams and building Beyond this you will need to develop the
practical experience. Once qualified, many capacity to give expert advice. Often this will
actuaries go on to be practising specialists involve dealing with non-actuaries and the
in one of the traditional fields, with many general public, so the ability to communicate
actuaries becoming senior managers in firms and articulate difficult topics to non-specialists
of consultants or insurance companies. is of paramount importance.
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09
wHaT IS aN acTuaRy?
acquisitions, mergers, corporate recovery sold) and answering technical queries from
and financing capital projects. Many also policyholders. Insurance actuaries also
offer advice to employers and trustees who undertake detailed investigations of different
run occupational pension schemes. In fact, experiences such as how assets and expenses
such consultancies are probably the biggest have performed and the extent of different
employers of actuaries in the UK. types of claims for different types of insurance
policies (e.g. death claims for life insurance or
A successful consultant will work to develop car theft for motor insurance).
a real partnership with their client, allowing
them to gain an in-depth understanding Pensions
of commercial operations and business The work of actuaries is vital to the
objectives. Actuarial consultants also need health of pension schemes. Actuaries are
to be able to communicate effectively, often heavily involved in designing and advising
explaining complex technical issues and ideas occupational pension schemes. This could be
to all kinds of people, whether they are finance a formal valuation for one persons benefits or
directors, CEOs, shareholders or trustees. for a whole scheme with one million members.
why be
AN ACTUARY?
If you want to apply your mathematical skills to real life problems, then the actuarial
profession could be for you. Find out why the diverse opportunities, intellectual
challenges and prestige of being an actuary all add up to a highly rewarding career.
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11
wHy bE aN acTuaRy?
admit to this being your key benefit at There are around 10,000 qualified actuaries
interview though! in the UK and over half now work in these
non-traditional areas. Qualified and trainee
Beyond the UK, the consultancy and actuaries are now to be found in investment
accountancy firms allow some opportunity management, corporate finance, liquidations,
for overseas work and travel. Actuaries have mergers and acquisitions, derivatives, fund
an agreed and accepted international exam and asset management, project finance and
syllabus and there are some c. 4,000 actuarial risk assessment.
students studying outside the UK and Ireland.
Well paid
A wide range of opportunities You can expect to receive very good financial
The range of opportunities within the rewards in the actuarial sector. Graduate
profession continues to grow. Actuarial entry salaries are offered from 25,000
careers used to be found mainly in the life to 35,000, newly qualified actuaries can
assurance and non-life (insurance) industries. command in excess of 55,000, and senior
In recent years though, there has been an positions can attract 100,000 plus. A
insatiable demand for trainee actuaries from very satisfying and clearly defined career
actuarial consultants, life offices and the progression is there for the taking for highly
professional financial services firms. motivated and driven individuals.
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actuarial
AREAS OF WORK
Traditionally, the key employer of actuaries has been the insurance industry. Todays
actuaries work all over the world and in a variety of different industries, including
finance and investment. Find out where a career as an actuary could take you.
Actuaries have the skills for tackling the investment and 4% work in the public sector
risks and uncertainties that financial and education, as well as other newer areas
businesses face in the interest of both such as industry.
customers and owners.
Consultancy
As the skills of an actuary are increasingly Actuarial consultancies are the biggest
recognised, the range of employment employers of actuaries in the UK. Many offer
opportunities will increase. Traditionally advice to employers and trustees who run
actuaries have worked in pensions, insurance occupational pension schemes. The 1995
and investment. However, actuaries have Pensions Act made it a statutory requirement
sought new opportunities to move into for the trustees of a pension scheme to
other areas of business whilst at the same appoint an actuary. The advice given to clients
time maintaining their presence in traditional covers a wide range of topics, from setting
employment areas. Ageing populations, up a new scheme, to assessing the level of
damages, finance, genetics, healthcare, personal contribution to be paid by the members
finance planning and risk management are all and valuing the fund if the company is to be
new areas in which the effective contribution of taken over. Additionally, consultancies will
actuaries has been recognised. offer a range of services to their clients, such
as enterprise risk management, merger and
Where do actuaries work? acquisition advice, corporate recovery and
Of the 10,498 Fellows of the Profession, financing capital projects.
72% are based in the UK, 8% in the rest of
Europe and 20% in the rest of the world. The Government Actuarys Department (GAD)
35% of those Fellows work in Insurance, 37% provides advice to the Government via Royal
work in consultancy, 7% work in finance and Commissions, as well as giving advice to
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acTuaRIaL aREaS OF wORK
other government departments and a wide companies are extending their range of
range of public sector bodies, including local products to include medical insurance, critical
authorities and the NHS. An important part of illness and disability insurance.
this work concerns the occupational pensions
for about four million people via the operation In an increasingly global business world,
of the National Insurance Fund. mergers between life companies are
becoming more frequent. When life offices
Insurance industry are bought and sold or life funds merged,
Life insurance actuaries tend to be retained by both sides.
Life insurance companies provide life
insurance, pensions and other financial General insurance
services. Actuaries are involved at all stages General insurance is a fast-growing area for
in the product development and in the actuaries, both within insurance companies,
pricing, risk assessment and marketing of the consultancies and at Lloyds of London, where
products. In addition, actuaries fill key roles in they have certain statutory duties. Many are
financial management and the investment of employed by consultancies which provide
policyholders money by developing strategies services to insurers and Lloyds syndicates.
that ensure customers get a good return.
General insurance actuaries are also to
It is currently a legislative requirement that be found in reinsurance and broking
each UK life office appoints one or more operations. General insurance includes
actuaries to perform the actuarial function, personal insurance, such as home and motor
advising the firms directors on the firms insurance, as well as insurance for large
ability to pay claims and how to ensure that commercial risks. As there are many different
the life insurance and pensions benefits factors that can affect the size and number
from the many millions of pounds invested of claims, general insurance companies
by policyholders are secure. Firms that have employ actuaries to assist with their financial
with-profits business must also appoint one management, in particular in connection with
or more with-profits actuaries to advise the premium rating and reserving.
firms directors on the use of discretion in
the management of with-profits funds: in Actuarial and statistical techniques are used
particular, the addition of bonuses to policies, extensively in the analysis of often substantial
having regard to the fair treatment of with- amounts of available data. Statistical models
profits policyholders. are thus a key part of an actuarys work.
This analysis is then used to rate the risks
With recent legislation leading to more and to ensure that claims reserves are
private healthcare provision, insurance adequate to meet the eventual settlement of
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SaLaRIES & bENEFITS
Actuary 47,411
trends in
THE PENSIONS SECTOR
Todays actuaries have to continually adapt to a pensions sector thats constantly
evolving. These changes demand flexibility and innovative thinking. Find out how
changes in the market-place will affect graduate job prospects in the pensions sector.
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TRENdS IN THE PENSIONS SEcTOR
The economic environment is tough, but Joining specialist teams, for example
many of our clients see the value that driving thinking and techniques used in
pensions actuaries add particularly in the area of consulting on the issues of
helping them to manage the financial increased longevity, or focusing on the
risks associated with their pension funds. lively space of corporate transactions.
The bread and butter work of years gone Developing strong careers in less
by will inevitably start to reduce as many technical (but key business) areas of
final salary schemes have closed or are sales, people management, project
closing to new members. The opportunity management and communication.
exists to broaden the range of work we
can provide to clients and also shape
the future of pension provision (and
indeed benefit provision) more widely.
Graduates who are flexible and embrace
the changing face of the sector still have The pensions actuary
the chance to make a big impact. of the future needs to
be willing and able to
The impact on the graduate job market evolve and apply their
The graduate job market is tough and as skills in a changing
things stand, the number of graduates being market-place.
recruited and trained as pensions actuaries
in the UK will fall in the coming years. At first
glance, this may sound a daunting prospect,
as it will inevitably be a more competitive
recruitment environment. However, graduates
who demonstrate the aptitude, the attitude
and the drive to become a pensions actuary Quite often people combine all of the
will increasingly be expected to progress their above mixing a specialism with business
career quickly and develop consulting skills management responsibility. There are many
earlier in their careers than those who have combinations of things in which you can get
gone before. involved if you are proactive and willing to put
yourself forward.
For example, an increasingly common
business model is for the employers of Traditional skills, new approaches
pensions actuaries to move the tried and Some things do not change. The pensions
tested mainly calculation-based pensions actuaries of today need to be every bit
work to offshore locations. This leaves the as numerate and capable of learning the
onshore team to focus on delivering bespoke technical skills that underpin being a good
work and projects. actuary as has always been the case. In
addition though, the pensions actuary of the
Career prospects future needs to be willing and able to evolve
A grounding in pensions actuarial work and to apply their skills in a changing market-
provides a good base from which to expand place. Its a challenge that the best graduates
your career. The people in the industry who will relish.
are making the most from their careers are
those who embrace change, are open to new
opportunities and push themselves out of
their comfort zone.
Alex Jefferson qualified as an actuary
Actuaries can go down a variety of career in 2009 with Aon Hewitt and now
paths such as: works on a variety of management
Specialising their actuarial/consulting projects in addition to his actuarial
skills to advise either companies, trustees consulting work.
or public sector clients.
frequently asked
QUESTIONS
There are some questions that everyone has about joining the actuarial profession: in
our online Employer Q&As, students have the opportunity to ask different actuarial
recruiters their questions. Here are some commonly asked questions from students,
along with helpful answers from Inside Careers and prominent actuarial recruiters.
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19
FaQS
incredibly transferable and there are examples required in pensions but to a lesser extent,
of people switching between the two with greater emphasis on communication.
programmes. At the end of the day, if you are Both departments contain a good mixture
keen for a secondment to one of Aons many of one-off, unique projects and there is an
different departments, or even to a client, opportunity to see a wide range of work and
there are opportunities out there. use different mathematical techniques in both.
Our clients come from a range of different Inside Careers: Different companies will vary
backgrounds and we need to be able to in their policies on recruiting international
communicate to them in a way that is suitable students always check with each company
for people with varying levels of pensions and before applying to avoid disappointment.
financial knowledge. In insurance, many of
our clients are other actuaries. Here, it is more I want to take a gap year to go travelling
common to be asked very specific technical after I graduate. Would this hinder my
questions that you need to be able to answer chances of being recruited and would I still
giving the appropriate level of detail. be eligible to apply for graduate schemes
one year after graduating?
In terms of the day-to-day work, insurance Towers Watson: We are sure the experiences
could, in general, be described as the more you would gain from a gap year would be
technical. As a graduate, you may find you valuable. We would suggest either applying
are required to use more statistics and there to our Summer Intern Programme or waiting
is a greater focus on techniques such as until the following September before applying
computer programming. These skills are still to our Graduate Programme.
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BARNETT WADDINGHAM
22
Actuarial Trainee
MERCER
24
Trainee Actuary
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22
INTERNSHIP PROFILES
Actuarial Trainee
Barnett Waddingham
LOCATION Liverpool NAME Victoria yung
UNIVERSITy Manchester University
LOCATION Southampton
DEGREE Mathematics & UNIVERSITy
Physics Oxford
PLACEMENT TyPE Summer Internship
DEGREE Mathematics
EWAN
xxxMIL
xx LER
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acTuaRIaL TRaINEE
Trainee Actuary
Mercer
LOCATION Glasgow NAME Victoria yung
UNIVERSITy Glasgow University
LOCATION Southampton
DEGREE Statistics UNIVERSITy Oxford
PLACEMENT TyPE Summer Internship
DEGREE Mathematics
Kirsten Fairlie
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TRaINEE acTuaRy
Social events
I was invited to a dinner and drinks event
During my internship I had the opportunity to the week before starting my placement in
work on a number of different responsibilities, the Glasgow office which was a great way to
including a range of calculations from Transfer meet the people I would be working with in
Values and Early Requirement Quotes for a relaxed environment and definitely made
individual scheme members to updating client starting in the office a much less intimidating
specific monthly factors. I was also involved in prospect. During my placement there were
accumulating data to fill in valuation surveys, plenty of other events to be involved in,
which gave me the chance to work with including team nights out, drinks to celebrate
colleagues in different teams as well as some colleagues passing their actuarial exams and
of the senior actuaries. even a cocktail master class!
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AXA
28
Actuarial Analyst
SUNGARD
30
Graduate Actuarial Analyst
PwC
32
Consultant
GUy CARPENTER
34
Actuarial Analyst
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28
GRaduaTE PROFILES
Actuarial Analyst
AXA
NAME Mallika Natarajan
LOCATION London
UNIVERSITy Warwick
DEGREE BSc MORSE
Be empowered to take your career where experience as you. youre surrounded by key
you want to go stakeholders which gives you an in-depth
At AXA, youre empowered to flourish understanding of everything thats going on.
and take your career where you want it
to go. youre given an amazing level of Im finding the work incredibly interesting.
responsibility, which I just dont think youd Ive been working on the Reserve Review,
find in many graduate roles. Being exposed to looking after the projection of long term
the Finance Director and Head Underwriters general insurance claims. Its a key project.
of a global, market-leading organisation is The review is produced quarterly and vital to
very exciting and a great opportunity to learn all insurance companies.
and develop your skills. you feel like youre
constantly growing. Were working to tight deadlines and there
can be quite a lot of pressure, but the
environment doesnt make it feel stressful.
Were always commended for our work and
we even get taken out to lunch as a thank you,
which is lovely!
Its hard work, but its
actually a nice step up AXA have been hugely supportive with my
from university as youre actuarial exams too. Not just financially, but
still learning but also theyve also given me plenty of study days
enjoying a great career. throughout the year and these are topped up
as the exams get harder.
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acTuaRIaL aNaLyST
I really do love my job. My CEO is a real allowing me to practice across the world.
inspiration and I can see a great future here. The qualification path takes blood sweat
and tears with exams twice a year, but being
How did you get your job at AXA? an academically strong and competitive
I applied for my role through the graduate candidate makes you push on!
scheme while still completing my final year.
Do you have any advice for anyone
What was the application process like do wanting to get into the industry?
you have any advice? As the qualification process is long and requires
The application process was similar to a great amount of dedication, ensure that you
most other actuarial companies: there was are comfortable with giving up your social life
a competency based application process, for large chunks of the year! There are plenty
followed by an initial online numerical and of students with most companies so there is
logical reasoning test. This is usually nice and always someone to have study sessions with.
straightforward for budding actuaries. If youre
successful in the numerical test, it is followed What skills are useful in the
by an interview and assessment centre. My actuarial profession?
advice for assessment centres would be to just This might sound obvious, but a good
be yourself. mathematical mind is a must. I would also
recommend working on your communication
Why did you choose a job in the skills, as a great part of the role is explaining
actuarial profession? results and methods to non-actuaries.
As a MORSE graduate from the University
of Warwick I had the opportunity to attend Is it a 9-5 job?
seminars held by actuaries. This gave me the The great part of working with AXA is that
opportunity to learn more about the career there are times when one needs to work a
and the paths open to me through pursuing little bit extra, but most days are 9-5. This is
the profession. The prestige of being a Fellow definitely a big plus when you compare it with
of the Institute of Actuaries opens doors, roles in banking and trading.
I think 2007/2008 was a watershed year for insurance industry. By supporting our clients,
a lot of people. Northern Rock and Lehmans everyone in the team has the opportunity
both sparked my interest in learning about to liaise with many of the worlds largest
economics (a subject I was wholly ignorant insurance and reinsurance companies. In
about at the time). The more I read, the more addition to that exposure, the opportunity to
interested I became. further develop my computational skills was a
prospect I couldnt resist!
When I graduated with my PhD in physics,
I decided that I would use my analytical What is your role?
skills to solve some real-world problems. I In broad strokes, my job is a mixture
decided to study for the actuarial exams, as of development and maintenance. My
I had missed the slightly more formalised team effectively sits between two groups:
world of undergraduate study. Having had the computational developers, who
some experience programming during are professional coders, and the clients
both my undergraduate degree and my and business managers, who steer the
PhD, a software company seemed the development. Our team develops the
natural environment for me to continue my economic and mathematical ideas into
professional development. practical solutions, which can then be
implemented in software.
Who are SunGard?
My manager once called SunGard The largest Weve got some big projects in the pipeline
software company youve never heard of. which will add more functionality to our
SunGard provides software across a spectrum software, and theyre a great mix of some
of financial institutions, including insurance hard maths, and a little bit of computer
companies. Our insurance software suite is science. When not working on development,
used by nine of the top ten US life insurers I spend time on third line client support,
and all of the top ten UK life insurers. you helping our customers work around any
can find our software being used in offices in problems theyre experiencing.
almost one third of all the worlds countries.
What do you enjoy most about your job?
Why did you decide to join SunGard? I really enjoy the variety of work. Id never
SunGard stood out from the other companies worked with the programming and scripting
I interviewed for immediately. I took a languages VBA or PowerShell before
tour around the office when I came for an joining SunGard, and you really do get the
interview, and the positivity in the office was opportunity to learn new skills and work on
tangible. SunGard is also a major player in the real problems. Its incredibly satisfying to
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GRaduaTE acTuaRIaL aNaLyST
know that the product is used by real people with using computers. I would say the most
in the industry. Aside from that, having a great important aspect is self-confidence; the fear
team around you who are all experts in their of breaking the computer can sometimes
field really makes a difference! override the better maybe this will work, or
Lets see what this does mentality. There is
a lot of self-discovery in this role, and that is
something which has always been encouraged.
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Consultant
PwC
NAME Kirsty
LOCATION Edinburgh
UNIVERSITy Heriot-Watt
DEGREE Actuarial Maths & Statistics
When and why did you choose an Which skills do you consider to be essential
actuarial career? for your job?
Growing up I never knew what I wanted to As I work in a consultancy, I think
do (I changed my mind weekly!) so when it communication is a key skill which is essential
came to picking university courses during for my job. It is important to be able to
my final year of school I had no idea where communicate clearly with both colleagues
to even begin. I had always enjoyed maths and clients including explaining complex
and sciences so started looking into courses information in simple understandable way to
along those lines when I stumbled across the non-actuaries.
Actuarial Mathematics and Statistics course at
Heriot-Watt. I had never heard of an actuary What do you like most about your job?
before, but the statistical, risk and analytical I really enjoy my job and find the work really
side of the course appealed to me. interesting and challenging but the thing I like
most about my job is the people I work with.
I really enjoyed my degree, but I had a
nagging doubt in my mind that maybe I From the day I started at PwC I have been
would enjoy another maths based career such made to feel welcome in the team and
as accountancy better. A summer internship have been provided with great support. In
with an accountancy firm soon corrected that particular, people are always willing to answer
and I went into my final year of university your questions or take the time to explain
certain that an actuarial career was for me! something which you are unfamiliar with even
if they arent working on that piece of work
Briefly explain what your work involves with you.
I work in Actuarial Insurance Management
Solutions based in Edinburgh. I work in life I love the variety of work that I get the
insurance mainly and I have worked on a opportunity to do, working with different clients
variety on different projects since I joined, and on different projects throughout the year.
ranging from auditing large insurance
companies to organising a volunteering event How do you achieve a work/life balance?
for the Edinburgh office. I think it is important to be realistic and be
aware there are times where you may have
I spend a lot of time working on client sites to work late and you will have to study in the
both in Edinburgh and throughout the UK. evenings and/or at weekends close to exams.
This allows me to experience a wide variety of However this is only in the short term and I
work and gain experience in many different generally have not found it hard to achieve a
areas of the life insurance industry. good work/life balance.
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cONSuLTaNT
The important thing is to leave work at work expand my technical knowledge. The actuarial
and ensure you enjoy your spare time. Being profession is expanding out of the traditional
organised and writing a daily to do list also fields, therefore it is impossible to know where
helps me maintain a good work/life balance my career will be in 20 years time but I hope
as it allows me to prioritise the tasks I need to to continue to find the work as interesting and
get done each day. enjoyable as I do today.
Actuarial Analyst
Guy Carpenter
NAME Chris Apps
LOCATION London
UNIVERSITy University of Oxford
DEGREE MSc Physics
I graduated from Oxford University with a insurance. I frequently work with many clients
Masters degree in Physics in July 2011. Guy simultaneously, which can get very intense.
Carpenter kick-started my actuarial career The tasks I perform vary in both difficulty
with an analyst position in September. I am and length; from cleaning up spreadsheets
currently studying for the actuarial exams and just received from clients, so we can input
sat my first modules in April. data into our models; to building complex
reinsurance structures, and their respective
What does Guy Carpenter do? models, completely from scratch. As an
Guy Carpenter is a reinsurance and risk intermediary, Guy Carpenter is completely
intermediary. Reinsurance is basically insurance focused on serving its clients in the best way
for insurers. Our primary task is helping our possible. My actuarial training has equipped
clients place their reinsurance with Lloyds of me with strong technical expertise to allow me
London or other reinsurance companies. If to achieve this.
effectively placed, it helps clients cope with
large claims they wouldnt otherwise be able What do you enjoy most about your job?
to survive similarly to how primary insurance There are many things to enjoy about working
protects the public. It also spreads the risk of at Guy Carpenter, as there is with many
losses over larger populations than insurance actuarial firms. The pay is good, the work is
companies can effectively manage; preventing interesting, and Im actively improving my
insurers from losing out if a big loss affects skills in a way which many careers do not offer
an entire region, or an entire population so early on. Most of all, I enjoy working with a
subgroup, where they make business. team of like-minded individuals on a common
objective we all believe in.
How did you get your job at Guy Carpenter?
I was contacted by a recruitment consultant What are the most stressful parts of the job?
in the summer following graduation, who I rarely get stressed at work. Better
suggested the actuarial profession would suit overworked than underworked! Fitting in
someone of my background. I interviewed study and adequate exam preparation,
for several actuarial positions in the following however, is not easy. If an exam is a week
month and following many challenging, and away theres a lot less time remaining than at
many more unsuccessful interviews received university as Id most likely be in office for
several offers. I started working at Guy five days out of the available seven. Rigorous
Carpenter in September. time management is critical. Fortunately
Ive learned to manage data well, with
What is a typical day like for you? spreadsheets, as part of my training. A few
The reinsurance workplace tends to be thousand hours is nothing compared to a few
closer to consulting than traditional million insurance claims!
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acTuaRIaL aNaLyST
What was the interview process like? can happen for a variety of reasons; the
The interviews were hard, but its competition for the role could be very fierce,
understandable why it was necessary. and an employer needs to be completely
Thinking and communicating on the spot, in certain youll fit in with existing employees.
unfamiliar territory to unfamiliar audiences, is In either case its never personal. If a
an important part of my role. My interviews recruitment consultant is getting you plenty of
at Guy Carpenter were fairly standard for interviews, its mostly a numbers game before
graduate positions questions about me and you get a position. Just ditch the recruiter if
my experiences mixed in with technical critical they arent (theres plenty out there!), and
thinking style problems. The key in both types make sure you really want the jobs youre
of question is how you communicate your applying for. Interviewers can sniff out lack of
answers as opposed to what you say. Practice motivation instantly.
was very important.
Is there a work/life balance?
yes, although I dont agree with the term
balance as it implies the two are separate. If
my home life is good I rock up at work with a
The pay is good, the smile on my face, bursting with energy, and
work in interesting, and perform well; if not my work suffers. Its also
Im actively improving important for work to provide a continuous,
my skills in a way which but not overwhelming, challenge otherwise it
many careers do not affects my home life in a negative way.
offer so early on.
What soft skills have you found useful?
Managing time well has been paramount.
Its important to manage both long-term
important, but not urgent, tasks along with
those that are urgent, but less important. An
ability to work well in any team is important,
but this is something interviewers try to assess
Any advice for the interview process? before employing you. Staying proactive and
Be prepared to do a lot of them. Its not on the ball in fast-paced environments is also
uncommon for an interview to go perfectly important not just so you can do your job
well and yet not be offered a position. This well, but so you enjoy doing it!
BACK TO CONTENTS
THE CO-OPERATIVE INSURANCE
38
Chief Actuary
AON
40
Pensions Consultant Actuary
MERCER
44
Senior Associate
BACK TO CONTENTS
38
SENIOR PROFILES
Chief Actuary
The Co-operative Insurance
In seventeen years at the Co-operative Insurance, Grant has progressed from
Actuarial Trainee to Chief Actuary, and all stops in between. He explains what being
a Chief Actuary involves and how his career has taken some turns he never expected.
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39
cHIEF acTuaRy
My big career break came in 2007, when I My role is very broad and gives me the
was appointed as Head of Motor Insurance opportunity to use both my technical
and Pricing. This gave me the opportunity actuarial training and my knowledge of the
to combine my technical background, insurance market. The market is extremely
still managing the pricing team, with an competitive and regulation is intense so we
account management role responsible for can never stand still. I have the opportunity
growth and profitability of a 500 million to contribute to the overall strategic thinking
business, whilst also ensuring that we kept of the business and I attend board meetings
our customers happy and complied with a where these ideas are discussed. Ive also
regulatory framework that becomes ever made a number of TV and radio appearances
more onerous. as an insurance expert definitely something I
wouldnt have seen myself doing 17 years ago.
This was something of a departure for an
actuary moving into a more general business Overall, I would definitely recommend an
management role but it was one that suited actuarial career. The technical training opens
my interests and gave me more exposure to doors to a wide range of potential future
the way the business, and the wider market, roles and whilst it can be very hard work
operates, as well as more responsibility for at times, it is also constantly interesting
leading a larger team of people. and challenging.
2006 When I found out I had passed my last exam in July 2011
I felt relieved that they were over and excited about the
opportunities that would be open to me in the future. While
studying for the exams, you build up great camaraderie
Joined Aon as a
graduate trainee
with your fellow students that I dont think you get in other
graduate jobs. I think this is a big part of being a student
actuary that I will miss.
2005
What is a typical day like for you?
I am a Pensions Consultant Actuary and a member of
the Trustee Advisory Group responsible for advising the
trustees of larger clients. Day to day I will specify and review
Graduated from
Oxford University
calculations and prepare advice for my clients. I attend
meetings with clients to present the advice on a regular
basis. I enjoy developing relationships with clients and
making their jobs easier.
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41
PENSIONS cONSuLTaNT acTuaRy
An appealing aspect of the job is that there What do you enjoy most about your job?
is no defined career path you are given the I enjoy learning, solving problems and
opportunity to drive your career. I am on the meeting people. In my job I work with
team which helps train new Pension Scheme like-minded people, in an industry that is
Trustees, and I also give training within the continuously evolving so there is always
business to our actuarial trainees. I enjoy this something new to learn. Working for a
part of my job, as it adds a bit of variety and consultancy allows you to get out and meet
allows me to stretch myself. There are many clients rather than sit behind a desk all day.
areas that you might choose to get involved
in if training doesnt appeal to you, for What would you like to achieve in
example you might want to specialise more the future?
in selling the business and building contacts, I am always looking to develop myself and
or you might be more suited to building never want to stand still. Being an actuary
calculation models. opens up lots of doors and really allows you to
choose your career path rather than it choosing
you. I aim to become a top consultant.
I am vice chair of the 2013 Momentum Do you have any advice for anyone
conference organising committee, which wanting to get in to the industry?
is a conference for nearly/newly qualified I would speak to a trainee actuary and an
actuaries. This has allowed me to meet actuary to hear firsthand about what it is like
actuaries from other areas such as Life, General to sit the exams and ultimately to finish them.
Insurance and Investment. There are various you may be able to take actuarial modules
roles you can take up at the institute, and it is as part of your university course I would
good opportunity to meet other actuaries and recommend taking these options if they are
trainee actuaries from the industry and give available to get a taster of actuarial science.
something back to the profession. Good luck!
Head of Pricing
Legal & General
Hannah was looking for a career that gave her the opportunity to use her
mathematical skills when she found out about the actuarial profession. She
discusses where her career has led her so far and why she loves where she is.
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43
HEad OF PRIcING
picture. I think that is one of the biggest pricing the new business that we sell and
differences that hit me when I qualified. monitoring the performance of the existing
policies that we have. No two days are ever
the same as we always seem to be working
on a new project. Ive got a great team
of 15 who are a mixture of students and
I dont have a grand plan. qualified actuaries and we all pitch in to
What I do know is that I make sure we achieve what we need to.
love my current job and
plan to continue to do it What does the future hold for you?
for as long as I continue Who knows what the future holds for me? I
to enjoy it. have to confess Im not a fan of the age old
Where do you see yourself in five years time?
interview question. I dont have a grand plan.
What I do know is that I love my current job
and plan to continue to do it for as long as I
continue to enjoy it as much as I currently do.
Thats the great thing about being an actuary
Where do you work now and what does the though the opportunities are so diverse
job involve? that if youre not happy in one role, there are
I lead Legal & Generals busy protection plenty more out there if youre willing to seek
pricing department. Were responsible for them out.
Senior Associate
Mercer
Katie wasnt sure what she wanted to do after graduating, but chose the actuarial
profession for the opportunity to stretch herself academically whilst working with
clients. She sheds some light on the challenges and rewards of being an actuary.
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45
SENIOR aSSOcIaTE
I now have supervisor responsibilities and that What do you enjoy most about your job?
aspect of my job is completely non-actuarial. I enjoy the people that I work with, some of
The role takes up quite a lot of time, but on whom have become good friends. I think its
the whole I enjoy it because I like the variety a really important element of any job that you
it gives me. get on with the people around you because,
lets face it, you are going to have to spend a
lot of your life with them.
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WRITING THE PERFECT ACTUARIAL CV
48
ACTUARIAL INTERNSHIPS
54
BACK TO CONTENTS
48
FINdING THE RIGHT JOb
THE BASICS
Presentation
Keep things simple and professional looking.
This means sticking to standard fonts, such as
Arial, Calibri or Times New Roman. Avoid the
use of colours, pictures or photographs. your
CV should be roughly two sides of A4 this is
also a useful guide to how much content you
should include, so dont be tempted to adjust STRUCTURE
spacing and font-size to compensate for
over-long or over-short CVs keep font sizes Profile
between 10 and 12 points. This is a short paragraph allowing you to
present yourself to the recruiter. Briefly
Style summarise your background, ambitions
Keep things clear and brief. Break up large and achievements.
blocks of text (which recruiters are likely to
skip over) and instead aim to use bullet points To stand out as an actuarial candidate, avoid
to itemise key facts. any vague or general statements. The more
focused you are as a candidate the better, as
Aim to always use positive language and the recruiter wants to know that youre serious
emphasise achievements, but avoid sounding about joining their firm. If youre seeking to
arrogant. Dont say youre very intelligent or become an actuarial trainee, where? Are you
talented, prove it: what specific achievements interested in working within consultancy,
demonstrate your value to employers? insurance or finance? These are things you
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49
wRITING THE PERFEcT acTuaRIaL cv
should be considering before you make an Never underestimate the value of work
application. List your strengths, but avoid experience: take care to highlight key
general traits such as team-player. achievements, even of summer shop jobs
which you might not think sound very
Amongst other things, future actuaries should impressive. you might have had a customer
be looking to highlight their analytical skills, facing role or trained other members of staff:
technical abilities and commercial awareness. these show communication skills, which are
crucial for a future actuary. Taking stock
Personal details checks or dealing with money proves your
Supply your contact details, including at least ability to take on responsibility.
one phone number, your postal address and
your email address. It isnt necessary to list your Be sure to include any particular goals you
gender, age or marital status, but if you are not achieved, (such as sales targets) or praise you
a UK national, include your nationality and give received from senior members of staff.
details of your work permit status here.
Skills
Whether you choose to highlight them
elsewhere in your CV, such as education,
work experience or interests, or you
Sometimes you may hear that the
choose to include a specific skills section,
latest mode is to include details of work
its important to display your relevant
experience ahead of your educational
knowledge and talents. IT and language
qualifications. Disregard this: as an
skills are particularly important for
actuary, your education and training
actuaries. For example, if youve come
is always of the highest importance
across actuarial systems such as Prophet
to employers and as such should be
through your course, or youre very adept
included first.
with Excel, these are vital skills which an
actuarial employer will value. Remember,
Dr. Geraldine kaye, Managing Director
they wont assume you have these skills
of GAAPS Actuarial
unless you tell them.
Interests
Different recruiters place different emphasis
Education on hobbies: keep these brief and bear in
In reverse chronological order, list your mind what a hobby says about you as a
educational qualifications, including dates, potential employee. Involvement in societies
grades and where you studied. The more at university, particularly if you took on an
recent the qualification, the more space you organisational role, is valuable, as are hobbies
can take to expand on it. that demonstrate commitment, such as sport
or charity fundraising.
For your degree, listing the modules that
youve studied or the subjects youve Referees
covered and the grades received can help to Nowadays, it is not seen as necessary to
emphasise how relevant your qualifications include references on your CV: these can be
are. If you have not studied actuarial sciences supplied later in the recruitment process.
specifically, but have studied a business or
science related degree, highlighting any When submitting a CV, always take care
mathematics or statistics covered during your to note what information an employer
course can help to show your competence. has requested you include: its extremely
important to demonstrate that you have
Work experience attention to detail and can follow instructions.
List your work experience in reverse Dont forget, that if youre applying for roles
chronological order, including any voluntary which require different skills, always adapt
work that youve undertaken. your CV accordingly.
Maths was always my favourite subject. I lived, Tenacity is essential, as the actuarial exams
ate and slept maths. But it was not until a are demanding. To be accepted as an
friend mentioned actuaries that I first thought actuarial student usually demonstrates that
about a career as an actuary. you have the ability to qualify. The two
reasons for not qualifying are that a) the
She told me that actuaries not only used student learns well how to fail and gives
maths and economics every day of their up, or b) gives up, albeit for some wholly
working lives, but they required good justifiable reasons (such people are often
interpersonal skills, as they are in regular referred to as unqualified successes).
contact with clients, senior colleagues and the
staff they manage. This certainly appealed to Actuaries need good communication skills. It
me. But my eyes really sparkled when I heard used to be said that you know you are talking
of the salaries that actuaries could command to an extrovert actuary because they look at
at that time. And they still sparkle over some your shoes rather than their own when they
of todays levels! speak. This is no longer true. As an actuary you
will often need to explain complex technical
Ideally, you should be studying for a degree information to non-technical audiences.
with significant mathematical content;
statistics, maths, engineering, science and Actuaries work across diverse industries, from
economics are all ideal subjects. The advice insurance, pensions and benefits, investment
that I was given as a student, and that I still and asset management through to banking,
give, is to study a subject that you enjoy. healthcare, capital projects and risk. Working
you are better with a good class of degree individually or as part of a team, you could
than a poor degree and some exemptions find yourself being a consultant, analyst,
and you are more likely to do well at trouble-shooter and risk assessor all in the
something you enjoy. same day; so because your own future will be
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51
acTuaRIaL KEy SKILLS
wide open, you will also be the kind of person West End. Then, in the final year, I tried my
whos ready for anything. you need to be able hand at consulting, at Lane Clark & Peacock.
to distinguish between the essential and the On leaving university, I started my full-time
inessential, and once qualified, to have a long- career, as an actuarial student and trainee
term perspective. I often describe the actuarial analyst in the investment department of Sun
qualification as a qualification in applied Alliance (now RSA).
common sense.
Born with an inquisitive and acquisitive mind, I
In theory, exemptions make it easier to have never been slow in asking questions and
qualify, but you need practical experience in I certainly asked plenty during my days as an
an office in order to integrate the theoretical actuarial trainee. If I have any one message for
knowledge and to learn the jargon. Take todays graduate entrants to our profession,
advantage of the long summer holidays it is never be afraid to ask questions. It is a
before you graduate to gain as broad a range superb way of building up knowledge.
of experience as possible. While at university I
chose something different each year. It is important to remember that different
employers are looking for different things;
actuaries are a diverse bunch and one size
does not fit all. Before you apply, research the
different companies, read their websites and
speak to their representatives at careers fairs.
Because your own Get a feel for the companies so that you can
future will be wide open, apply to the employer that is right for you.
you will also be the kind
of person whos ready Skills in brief:
for anything. Excellent academics
Excellent communication skills
Strong numeric and logic skills
Be able to distinguish between the
important and the unimportant
Never be afraid to ask questions.
First, it was the City head office of a large NB: it may be possible to demonstrate these
life assurer, The Northern (before it was other than just by examination results.
taken over by what is now Aviva). The
second summer, I chose Dominion Lincoln, Dr Geraldine kaye is Managing Director of GAAPS
a minnow of a life office based in Londons Actuarial.
jobs on offer:
GRADUATE TRAINING SCHEMES
If you have started to think about jobs after you graduate, you have probably heard
about employers offering graduate training schemes. But what are they and why
should you apply to them?
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53
GRaduaTE TRaINING ScHEmES
how to secure
ACTUARIAL INTERNSHIPS
Are you not sure if an actuarial internship is for you? Have you thought about taking
one, but dont know what to do or where to begin? Read this article for a quick
introduction to actuarial internships and advice on how, where and when to apply.
How do I apply?
Much like full-time graduate positions,
companies generally ask for candidates to have
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55
acTuaRIaL INTERNSHIPS
a maths A level or equivalent qualification. It is The companies at the back of this guide all
generally preferred that candidates are taking a indicate whether or not they offer internships
numerically related degree and are on track for in addition to graduate placements. you can
a 2:1. Find out what employers ask for in the also find the internships currently accepting
Employer Directory at the back of this guide. applications online at www.insidecareers.co.uk
/professions/actuaries/work
Most firms will ask you to apply by filling out
an online application form, although it is also When should I apply?
common (roughly one third of companies) Actuarial internships are generally held during
to request that you send a CV and covering the summer in between your penultimate and
letter, either via email or by uploading them final year of university. You will need to apply to
online. Make sure you use your time wisely by companies early in the year, generally January
researching companies and only selecting a to March, although some companies open
few to apply to, investing the time to perfect applications earlier than this, in the preceding
your application, rather than adopting an autumn/winter. you should always aim to apply
ineffective scatter gun approach. as early as possible as places can fill up quickly.
CASE STUDy
What we offer
Each year we run a six-week intern programme, during July/August across all of our 11 UK
offices. An internship with us will give you valuable real-world experience while you are still a
student. youll apply your education in an environment that is both intellectually challenging
and rewarding.
Training and development
you will be invited to attend three induction days with all other interns from across the UK.
During the induction days you will benefit from various training sessions and networking
opportunities. you will also be assigned a buddy and a line manager who will help you settle
in and be on hand to answer any questions throughout your time with us.
What will I do day to day?
As a largely project based business, no two days are the same! We work hard to ensure your
six weeks are well planned so that you leave us feeling youve really contributed to client
projects and developed your skills further; from project management to communication and
presentation skills.
Social sceneits not all work and no play!
Our culture is open and friendly so be prepared to be invited out to office events ranging
from organised trips to more informal drinks after work. On your last day we bring all interns
back together in London to celebrate the end of the internship where you will also get to
participate in a fun outdoor activity!
Why Towers Watson?
We devote a lot of time and energy to making our intern programme the best it can
be. Why? We consider interns to be critical after all, many of our best university hires
were once interns. We offer around 75% of our interns graduate positions, far above the
market average.
To find out more and to apply, please visit our website: www.towerswatson.com/graduate/uk
applications and
INTERVIEW TIPS
Gary works as a partner for APR, an actuarial company that places more than usual
emphasis on the quality of graduate recruits: in a 2012 actuarial exams session,
APRs staff achieved over a 95% exam pass rate. In this article he explains what he
sees as some of the key dos and donts when applying for actuarial jobs.
TAKING yOUR FIRST STEPS INTO THE the name, syllabus and pass rate of all 15
ACTUARIAL INDUSTRy modules, but its important to show you have
some understanding of what youre letting
Who wouldnt want to be an actuary? yourself in for. Weve rejected candidates
According to research by Careercast.com with great CVs for not appearing to have
published this year, its the best job you done the most cursory research around the
can have, finally making official what those actuarial profession.
of us on the inside have always suspected.
According to the survey, perks of the job CV typos
include lack of stress, pleasant working your CV is your key pre-interview marketing
environment, relatively short working hours, tool and is unlikely to vary greatly between
high wages and good future prospects. So employers. As such, there is no excuse for
naturally, you want a piece of that for yourself, typos and errors in it. If you appear to lack
right? Problem is so do a lot of others, and the ability to exercise care in such a crucial
just like you theyre academically strong, document, its not unreasonable for an
diligent, motivated and have a killer suit just employer to conclude you lack the attention
waiting to be cracked out for those crucial to detail that is a key attribute of most good
interview situations. actuarial students. Find more actuarial CV tips
on page 48.
So what can give you the edge?
Tailored cover letter
APPLICATIONS Its good to strike a balance between
conciseness and substance. Most importantly,
Prioritise prospective employers it should be tailored each time towards the
I recognise that your primary objective may be application in question. Sending out the same
to gain an offer from any actuarial employer, cover letter for all applications, changing only
but youd be wise to go down the list of the name of the company, can usually be
actuarial employers, check the companies out, spotted a mile off. For example, as a provider
and figure out which ones youd most like of actuarial services predominantly within the
to work for. Do you want to work for a big UK, some candidates seem to think we will
or small company? Which sector of actuarial be flattered by being told we enjoy a global
work interests you? This will almost certainly reputation we dont currently, and inclusion
come up in an interview, so candidates that of such a line only harms a candidates chances.
appear to have given some genuine thought
to this will be better placed to sell themselves Be truthful
to the companies theyre most keen on. Here are just two examples:
A. Dont suggest youre full of initiative
knowledge of the profession if, for example, you graduated a year
It costs a lot of money for an employer to ago and dont appear to have taken
sponsor a student through the actuarial steps to increase your attractiveness to
exams. you dont need to be able to reel off actuarial employers in that time (e.g.
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57
aPPLIcaTIONS aNd INTERvIEw TIPS
by sitting the CT1 exam or developing interest in whats been said. Without being
relevant IT skills). monosyllabic and closed, keep your answers
B. Dont overstate your competency in on the short side, focused on the specific
key areas (e.g. Excel or programming question asked and arrive at a definite end
languages) because this can be easily if the interviewer wants more detail, theyll
shot down at interviews. ask for it.
Dont over-prepare
Its important to know whats on your CV and
be aware of the skills your achievements have
Show some personality demonstrated, in case they become relevant
to questions youre asked in interviews.
and you may find
However, dont have word-for-word pre-
it goes a long way prepared answers for every possible line of
towards helping you questioning. One of the skills employers are
secure your dream job. looking for is the ability to think on your feet.
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THE INSTITUTE AND FACULTy
OF ACTUARIES
60
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60
THE INSTITuTE & QuaLIFIcaTIONS
Find out about the aims and activities of the Institute and Faculty of Actuaries, the
organisation that regulates and represents the actuarial profession in the UK.
What is the Institute and Faculty of Actuaries? Members are encouraged to sign up
The Institute and Faculty of Actuaries (IFoA) for practice areas and member interest
is the professional body of the UK actuarial groups, and to volunteer to help with other
profession. The aim of the IFoA is to support working parties or committees. It is through
actuaries throughout their careers so they this work that they seek to influence
have the skills, attributes and knowledge government, regulators and thinking in the
appropriate for the evolving needs of the UK actuarial profession.
financial sector, primarily as risk professionals.
In addition, it has the twin roles of regulating
and representing members to the outside
world. It achieves this through:
There is close
Education of new entrants who wish cooperation between
to become actuaries and the actuarial socieites around
continuing professional development
the world through
of existing actuaries.
Cooperation with government, business,
mutual recognition
regulators and other professions. agreements.
Innovation through research and
debate, to expand the horizons of
actuarial knowledge.
Promotion of the work of actuaries in
general (but not of individuals or firms).
Regulation of members by enforcing
adherence with the ethical standards and Professional qualifications
the technical standards produced by the There are a number of different
Board for Actuarial Standards (BAS), an membership classes. The current classes of
independent body under the Financial membership are:
Reporting Council (FRC).
Affiliate
IFoA has a strong tradition of encouraging Student
community and companionship among its Associate
members, locally and internationally. There is Fellow
close cooperation between actuarial societies Honorary Fellow.
around the world through mutual recognition
agreements with the organisation, enabling In order to qualify as either an Associate or
qualified actuaries to obtain full membership Fellow, students have to pass examinations,
status in another country. IFoA is governed by demonstrate satisfactory completion of certain
a council elected by the membership helping modules and acquire a satisfactory level of
to set its strategic direction. work-related experience.
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61
THE INSTITuTE aNd FacuLTy OF acTuaRIES
actuarial
SYLLABUS AND EXAMS
The actuarial syllabus is reviewed and updated every year. The syllabus and
examinations described below cover the full range of study required up to Fellowship.
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63
acTuaRIaL SyLLabuS aNd ExamS
technical actuarial skills as well as more version of the syllabus termed Core Reading.
general business and management skills. The syllabus and Core Reading provide a
guide to tutors preparing tuition material
Exemptions and exams for students working for the examinations.
University exemptions for students reaching Examinations are based on the extended
the agreed standard are available for all stages syllabus, so students can prepare for them in
except the Specialist Applications Stage. any way they choose. As the key route, the
Candidates may also gain an exemption from IFoA has an agreement with a tuition provider,
one Specialist Technical paper if they have a The Actuarial Education Company (ActEd), for
relevant professional qualification recognised a series of distance-learning texts which cover
by the IFoA. the syllabus.
All examinations, except Business Awareness A series of units have been written for each
(CT9), Model Documentation, Analysis and subject covering the core learning and the
Reporting (CA2) and Communications (CA3), objectives of the syllabus and containing a
are held twice yearly. Students, in consultation number of self-assessment questions and
with their employer, can determine the solutions. The material is presented in loose-
optimal pace of study through the subjects. leaf form and is updated year on year where
necessary. Assignments are included which
Tuition opportunities can be used independently or in conjunction
The institute has prepared an extended with a marking service.
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66 CASS BUSiNESS SChOOl
68 hEriOT-WATT UNivErSiTy
70 UNivErSiTy Of KENT
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66
FURTHER STUDY
BACK TO CONTENTS
Interested in
a world-class
Actuarial Masters?
MSc in Actuarial Science
MSc in Actuarial Management
Full-time and part-time study
options available
Find out more at
www.cass.city.ac.uk/masters
London. Business. Masters.
www.cass.city.ac.uk/masters
There have always been plenty of excellent
reasons to study actuarial science at
Heriot-Watt. After all, we pioneered
degrees in the field. Today, we enjoy a
worldwide reputation for the quality of our
teaching and research. We offer a range
of accredited courses from BSc to MSc/
Diploma.
Distinctly Ambitious
www.hw.ac.uk
70
FURTHER STUDY
A two-year, part-time version of this course is Centre for Actuarial Science, Risk
also available. and Investment
The Centre for Actuarial Science, risk
Postgraduate Diploma in Actuarial Science and Investment is part of the School of
This nine-month, full-time taught course Mathematics, Statistics and Actuarial Science
enables graduate students to acquire the core at the University of Kent, where actuarial
skills and knowledge required by all actuaries. science has been taught for over 25 years.
It offers the opportunity to gain exemptions The centre includes 13 professionally qualified
from eight subjects (CT1CT8) within the actuaries with many years practical experience
Core Technical stage of the examinations of in insurance and pensions and maintains
the ifoA. excellent links with the actuarial profession.
BACK TO CONTENTS
ACTUARIAL
SCIENCE /THE
UNIVERSITY
OF KENT
BACK TO CONTENTS
74 AON 88 lCP
80 CAPiTA 97 PwC
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74
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
65,000
o of qualified actuaries
120
Locations
Few things are certain in life. Economic upheaval, Opportunities nationwide,
depending on your chosen stream
political crises, natural disasters and plenty more
besides all mean the world can be full of surprises.
International opportunities
At Aon, we draw on the expertise of 5,000 people
No
to help the biggest names in business plan for
every eventuality. Our size, global network and
emphasis on innovation mean where we lead, the
industry follows. Type of work experience offered
vACANCy deTAils
Internships
Weve recently moved our global headquarters to
No. of work experience vacancies
the UK. Here we rely on ,500 employees across
40
30 offices to uphold our reputation for excellence,
insight and outstanding service delivery. its the skills,
No. of graduate vacancies
knowledge and attitude of these people that help us
50
do what we do best. So, if youre looking for a sure-
fire way to start your career and have a 2:1 degree or Disciplines recruited from
higher, wed like you to join them. All degrees considered, although
numerate subjects are required for
We recruit summer interns and graduates into some streams
six streams: pensions; general insurance;
insurance, reinsurance and risk management; Min. degree required
investment consulting; captives and health & 2:1
benefits broking and consulting.
Starting salary
Depending on the area you join, youll be using Competitive
your numeracy, analytical abilities and strong
customer service skills to help clients address key Benefits
questions that affect the running and growth of their Life assurance and pension scheme
businesses. How can risk be predicted and spread
to minimise the impact of natural or man-made
catastrophes? How can financial markets effectively How to apply
AppliCATiON deTAils
manage their risks? Where can employers invest to Apply online at:
www.aon.co.uk/graduates
improve the value of their pension schemes? Will
a company be able to meet its pension obligations Contact information
decades down the line? How can it provide a benefits T: 0845 026 4587
programme that rewards employees and represents
a shrewd business investment for the employer? Application deadline
Check website
Whatever the question, its our business to provide
the answer.
BACK TO CONTENTS
67% chance of buying your first house before turning 30.
33% chance of keeping in touch with your first-year friends.
2% chance of leaving uni debt free.
0.01% chance of making a tutorial after a big night out.
100% chance of moving onwards and upwards at Aon.
BACK TO CONTENTS
77
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
Over 550
o of qualified actuaries
110
No. of trainees
95
available, with the aim of enabling you to reach your
full potential. In addition, we will help you to develop Locations
Amersham, Bromsgrove,
your technical and consulting skills with regular Cheltenham, Glasgow, leeds,
performance development reviews, internal courses Liverpool and London
and most importantly, experience.
International opportunities
The social side No
Social activity is taken seriously across the firm; from
inter-office sporting events to the annual Christmas Type of work experience offered
vACANCy deTAils
Internships
party. Sporting events include bowls, cricket, croquet,
football, golf, poker, pool and table tennis. The non- No. of work experience vacancies
sporting side is equally active and includes walking 10-13
weekends, excursions to UK and European cities, wine
and beer tasting, charity events and picnics. No. of graduate vacancies
10-13
Contact information
graduaterecruitment@
barnett-waddingham.co.uk
Application deadline
Please visit our website
No. of employees
COmpANy deTAils
340
o of qualified actuaries
40
No. of trainees
40
About Buck
Locations
Buck is a global pensions, employee benefits and Bristol, Edinburgh, Ipswich,
investment consulting firm. We provide real-world london, Manchester and reading
solutions to our clients complex HR and business
challenges. After nearly 100 years, weve remained true to International opportunities
our core values: innovation, unparalleled client satisfaction No
and the highest professional standards.
No. of graduate vacancies
vACANCy deTAils
The requirements 2-4
We look for graduates who are both literate and
No. of work experience vacancies
numerate, have a strong academic background, are On request
good communicators and highly analytical. in addition,
graduates need to be flexible, confident and committed Type of work experience offered
to their profession. Internships and industral placements
BACK TO CONTENTS
79
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
900
o of qualified actuaries
25
No. of trainees
About us 25
founded in 1847, Canada life is a wholly owned
Locations
subsidiary of Great-West lifeco inc, one of the largest
Bristol, hertfordshire (Potters Bar),
Canadian life and health insurance companies.
isle of Man and london
Canada Life began operations in the United Kingdom
in 1903 and looks after the retirement, investment
International opportunities
and protection needs of individuals and companies.
No
Our UK operations are headquartered in Potters Bar,
15 minutes from central london by train.
vACANCy deTAils
c. 3 per year
Canada life offer the advantage of working in a
professional, fast moving, financially strong company,
No. of work experience vacancies
yet with a better work/life balance than you would
0
usually find in London. We offer excellent starting
salaries and great opportunities for career progression.
Min. degree required
2:1
A competitive study package is available to all our
actuarial trainees, which includes study days, tutorials, Starting salary
course materials and entry fees for the first sitting of 25,700
each exam. Every new starter is assigned a mentor
to oversee their progress. Canada Life has a strong Benefits
culture of success in the actuarial examinations, and 23 days holiday rising to 30 with
provides an environment for new actuaries to study service and seniority, bike scheme,
and develop. flexitime, healthcare scheme,
life assurance, pension scheme,
Who are we looking for? performance bonus, season ticket
Applicants will have at least three A Levels (or loan, social events, stocks/shares
equivalent) and a degree (2:1 or better), ideally and study support
in mathematics or another numerate subject,
although exceptional candidates with other
degrees will be considered. We are looking for How to apply
AppliCATiON deTAils
excellent communicators with strong problem CV, covering letter and application
solving skills. Successful candidates will be form, email to:
motivated to maintain our strong record in the Claire.reeve@canadalife.co.uk
challenging professional examinations.
Contact information
The role Canada life Place,
high Street, Potters Bar
Our actuarial trainees have the opportunity to work
hertfordshire EN6 5BA
in a variety of roles in areas including: reserving,
financial reporting, pricing, risk management,
investments and systems. We expect that trainees
Scan for Canada
will work in at least two or three different areas
Lifes live jobs
before qualification, which means our newly
qualified actuaries tend to have a valuable breadth
of experience.
No. of employees
COmpANy deTAils
50,000+
o of qualified actuaries
11
No. of trainees
40
Capita Life & Pensions
Locations
Capita is the UKs leading provider of outsourcing Cheltenham, Dublin and other
and professional support services in both the public locations throughout the UK
and private sectors. The Life and Pensions division
providing business process outsourcing for the International opportunities
No
industry accounts for 19% of Capitas business.
vACANCy deTAils
a dedication to service and a belief in constant Up to 3
evolution. We pride ourselves on being progressive
No. of work experience vacancies
and at the leading edge of service transformation. Up to 3
BACK TO CONTENTS
Stand out, get noticed
The best of the best university. We value the life experience that
This exciting company offers career challenges parents and older students can bring. Diversity
that are not readily available in the majority can also be seen in students backgrounds,
of financial services companies. Unique which range from engineering and iT to more
opportunities exist for talented actuarial traditional actuarial backgrounds.
students across both the finance and strategy,
capital and risk functions. Whatever route people have taken in their
career to date, we believe in giving them real
Strategic goals responsibility from day one. As well as getting
Our strategic aim is to build a profitable and involved in business-critical projects, theres
sustainable business. We will: plenty of opportunity to spend time with other
Compete where we have the edge trainees, qualified actuaries and mentors.
Make more of what we have
Run a leaner operation. The support you need
Managers really understand the importance
To enable us to do this we are committed of your actuarial exams and are determined
to developing an aligned, engaged team to help you succeed. Friends Life provides
determined to succeed. financial support towards covering the
substantial cost of study materials and
Points of distinction professional fees and our flexible study
Numerous awards won from industry leave package is designed to help you take
bodies for the quality of our products control of your own development. Were
and services. sure youll find it very generous and theres
Reputation for leading-edge technology a commitment in the business to help you to
evidenced through numerous awards. take advantage of study time.
Values-driven approach to business
Friends Provident was the first company to We also believe in developing your softer
launch retail ethical investments in the UK. skills, ensuring when you have finished passing
your exams, youre not only a fully qualified
ffice locations actuary, but you are also confident in your
We have a substantial actuarial population communication and team working abilities.
across Bristol, Dorking, london and Salisbury
as well as an international presence. It wont Seeing the business from every angle
be long before youll find yourself part of a As you work towards qualification, our
community of people working towards the rotation scheme allows you to move between
same goals. departments. Not only does this ensure great
variety in your work, but it also means youre
A perfect mix able to make intelligent decisions about
Actuaries at friends life come from a wide where your professional interests ultimately
range of backgrounds. As well as being diverse lie. in a business the size of friends life, there
in terms of ethnicity and age, the group isnt will, after all, be first class opportunities for
always made up of students fresh out of career progression.
BACK TO CONTENTS
83
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
c. 5,000
o of qualified actuaries
125
No. of trainees
90
Remuneration package
A competitive starting salary of 2 ,500 is Locations
london, Bristol, Dorking and
combined with an excellent remuneration package,
Salisbury
which includes:
Defined contribution pension scheme International opportunities
Four times pensionable salary death in service No
lump sum
Performance related bonus.
Type of work experience offered
vACANCy deTAils
Industrial placements
In addition we offer flexible working hours and 2
days holiday. No. of work experience vacancies
c. -10 per year
Starting salary
28,500
Benefits
2 days holiday, pension scheme,
study support and life assurance
AppliCATiON deTAils
How to apply
Online at:
www.friendslife.co.uk/careers
Contact information
Marie Allan
marie.c.allan@friendslife.co.uk
T: 0117 928 3197
Application deadline
TBC 31 December 2013
Scan for
Friends Lifes
live jobs
BACK TO CONTENTS
85
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
145
o of qualified actuaries
61
No. of trainees
56
At the Government Actuarys Department we are
renowned for the quality of our advice. This is Locations
london and Edinburgh
because we select only the most promising recruits.
International opportunities
Providing actuarial support to some of the largest No
pension schemes in the UK, our work is crucial to the
welfare of millions of people. Our graduates are the
actuaries of the future.
No. of work experience vacancies
vACANCy deTAils
0
As a trainee actuary you will work as part of a team
with qualified actuaries in both our London and No. of graduate vacancies
Edinburgh office, to deliver advice across a broad 5-10
range of areas such as valuations, benefit design,
Disciplines recruited from
investment strategy and government policy. In
Degrees with a high mathematical
addition to advising government, trustees and content
employers, there may also be opportunities to work
in UK and international social insurance, long-term Min. degree required
care, health, risk and insurance. 2:1
Starting salary
As your experience grows you can expect to 2 , 00 pa
have regular client contact. To help you qualify
as quickly as possible we offer substantial study Benefits
support with generous study leave, discussion 25 days holiday (30 upon
qualifying), pension scheme, study
classes, and paid for tutorials, courses, exam entry
support, flexitime, season ticket
and exam counselling. We also provide an internal loan, bike scheme, performance
business training programme to help trainees grasp bonus and social events
the opportunities we offer and to assume new
responsibilities, including:
Scan for
GADs
live jobs
No. of employees
COmpANy deTAils
600+
o of qualified actuaries
100+
No. of trainees
70+
Make the most of who you are. Be you. Locations
Get your career off to the very best start with hymans Birmingham, Edinburgh, Glasgow
Robertson, the UKs award winning, independently owned and london
pensions, investment and risk consultancy. Many of the
International opportunities
UKs biggest pension schemes rely on our advice and we No
provide consultancy services to leading organisations,
including FTSE100 and public sector companies. Type of work experience offered
Summer internships
vACANCy deTAils
We offer a comprehensive programme of training and
No. of work experience vacancies
support to our graduate trainees. That means youll
7+
get all the help you need to achieve your actuarial
qualification, whilst also getting some of the best No. of graduate vacancies
possible hands-on experience. 20+
Online at
www.hymans.co.uk/careers
We want you to make the most of who you are and, as
part of this, youll be able to design an individual and Contact information
richard Prescott T: 0207 082 6337
tailored study plan with your study mentor. Youll have (london and Birmingham) and
true flexibility around which actuarial exams you take, Carla henison T: 0141 566 7894
at a pace that suits you, and you can advance your (Glasgow and Edinburgh)
career as quickly as you want and in your own way.
Application deadline
4 November 2013
Were committed to helping you fulfil your potential
and really make your mark. Scan for Hymans
Robertsons
We have also been awarded a Best Companies Two live jobs
Star rating for 2013 as a great place to work and that
demonstrates our commitment to our most important
asset our people.
BACK TO CONTENTS
87
EMPLOYER DIRECTORY
Trainee Profile
NAME harry Allen
lOCATiON Birmingham
UNivErSiTy Warwick University
DEGrEE Mathematics
rOlE Trainee Actuarial Consultant
So youre considering a career as an and for me this is the most enjoyable aspect
actuarial consultant... of what I do. I am particularly lucky at Hymans
if you have a mathematical mind and enjoy Robertson in that everyone in the firm is
communicating with others then working as supportive, helpful and friendly. People will
an actuarial consultant could be the perfect always make the time to explain things and
role for you. answer any silly questions i may have. There
is an excellent team atmosphere around the
I wont pretend that training to be an actuary office and Id be lying if I said the office socials
is easy; the exams are tough and you need a arent one of my favourite aspects too!
wide skill set to be able to do your job well.
however, if you like a challenge and are willing The least enjoyable aspects
to work hard, then a career as an actuarial Training to be an actuary means at
consultant is extremely rewarding and can be least another three years of study and
a lot of fun! exams! fitting studying around your work
commitments and also making sure you dont
A day in the life of an actuarial consultant miss out on a social life can be a struggle at
What an actuarial consultant does day to day times and requires you to be disciplined and
is probably a mystery to most people, and organised. Thankfully, hymans robertson
to be honest even after a years experience I provide an excellent study support package
find it difficult to explain what it is I do! This which includes one day off a week to study, all
is mainly due to the varied nature of the work the relevant materials, regular tutorials, and a
we undertake every client is unique and has study mentor who will help guide you through
different needs. It is therefore important that we the process. It is reassuring to know you are in
are adaptable and able to think outside the box. the same position as all the other trainees and
everyone is able to support each other.
Since joining hymans robertson last
September I have done individual member Overall impression
calculations, prepared accounting disclosures, in my short time at hymans robertson i
drafted reports, emailed and spoken to clients have learnt so much and have enjoyed the
on the phone, and much, much more. opportunity to apply my technical knowledge
to real-life problems faced by clients. I am
The most enjoyable aspects extremely happy that I decided to pursue
Despite what some people may say, being a career as an actuarial consultant and im
an actuary is never boring! im constantly looking forward to continuing along the road
learning, improving and being challenged, to qualification...
lCP offers a full range of actuarial and related We also offer flexibility to move between
employee benefit advice to employers and teams if you wish, as well as occasional
pension scheme trustees of various si es and opportunities of secondments to our
in many industries as well as to individuals, European offices.
especially directors and expatriates.
Specialist departments also provide pension Number of graduate trainees required
administration services, investment consulting in 2014
and general insurance advice. Up to 21 for positions in our pensions,
investment, and insurance consultancies.
The work of the actuarial student
One of the great benefits of working for LCP Minimum academic requirements
is the variety of projects youll be working on We welcome graduates from a wide range of
and the range of tasks involved in completing disciplines who are prepared for the high level
them. For example, you could be helping of mathematical content the actuarial training
with pension scheme valuations, monitoring and profession delivers. Ideal graduates
investment manager performance or assessing would have at least a 2:1 honours degree
the impact of unlikely events. You could be (or equivalent) and an A grade in A level
building a spreadsheet model, using our Mathematics (or equivalent). We also require
own software, drafting letters to clients or good A level grades in other subjects equating
writing full reports. There are also plenty of to a total of 320 UCAS points.
opportunities for client contact, right from
early on in your career. Starting salary
To be announced. The competitive package
What areas can I work in? includes bonus and other benefits.
youll be working in one of three teams,
covering our specialist areas: Annual leave
Pensions advising companies and trustees Escalating holiday entitlement and facility to
on their pension arrangements, including buy and sell holiday.
BACK TO CONTENTS
89
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
400
o of qualified actuaries
130
No. of trainees
80
Professional development
LCP places great importance on students passing Locations
london and Winchester
their exams and qualifying as quickly as possible;
the firm also has a major programme of in-house International opportunities
training. After an introductory course, regular No
training sessions are held throughout the first three
years, covering every aspect of the business. We
also offer initiatives to help our new graduates
Type of work experience offered
vACANCy deTAils
practise and develop their presentation skills. After Internships
the formal three year programme, staff continue to
receive training to keep their technical knowledge No. of work experience vacancies
up to date and to improve their managerial, 12
reporting, and presentation skills. We provide
No. of graduate vacancies
comprehensive support for external tuition for 21
the actuarial exams, including payment of tuition,
tutorial, and examination fees and we provide Disciplines recruited from
generous study leave. Most degrees considered
How to apply
AppliCATiON deTAils
Contact information
graduatecareers lcp.uk
T: 020 7439 2266
Application deadline
15 November 2013
Scan for
LCPs
live jobs
Trainee Profile
NAME rachael Casey
lOCATiON london
UNivErSiTy University of Cambridge
DEGrEE Natural Sciences
rOlE Analyst
I joined LCP in September 2010 along with 15 sessions on topics covered in the actuarial
other graduates after completing a summer exams (e.g. actuarial functions and annuities),
internship with LCP the year before. We hot topics such as tax and regulation and
started with a two week training course, which softer-skills training (e.g. on presentational
offered a great opportunity to get to know one skills). The si e of the firm gives me the
another and introduced us to the company and opportunity to work directly for senior
what was to be expected of us. There was a lot consultants and partners and to work on a
to learn, but everyone was very approachable number of different clients, varying in both
and encouraged us to ask questions. si e and the type of work involved.
This eased me into the general everyday The technical and challenging work is
office work, particularly in getting to grips balanced by a friendly, supportive work
with the in-house programmes and models. environment and a lot of socialising. The
The work is diverse, ranging from performing saying work hard, play hard is definitely
individual member calculations to attending practised here. The social committee arranges
trustee meetings to discuss the results of frequent social events such as trips to the
their pension scheme triennial valuations. theatre, pub qui es and our annual summer
The work is supported by an excellent three party and there is always somewhere to go for
year graduate training programme, including a few drinks on a friday.
BACK TO CONTENTS
GRADUATE OPPORTUNITIES
No. of employees
COmpANy deTAils
6,500+
o of qualified actuaries
200+
No. of trainees
90+
We are a leading provider of risk, savings and
investment management products in the UK. Locations
Established in 1836, weve been in business for Kingswood, Birmingham and
175 years, which not only gives us credibility but london
it demonstrates our experience in every kind of
economic climate. International opportunities
No
We are responsible for investing 370 billion
worldwide (as at 30 June 2011) on behalf of
vACANCy deTAils
investors, policyholders and shareholders. We also No. of graduate vacancies
have over seven million customers in the UK for our varies
life assurance, pensions, investments and general
Type of work experience offered
insurance plans. We are one of the UKs top assurance
Internships
companies for financial strength.
Min. degree required
We recruit, by the middle of March, a limited number 2:1
of graduates each year in order to meet our demands
for actuarial students. This policy means that all of our Starting salary
new actuarial trainees have specific responsibilities Competitive
from the moment they join the company.
Benefits
Our Kingswood office is in the heart of the Surrey 22 days holiday, bike scheme,
countryside, but central london is only a 45 minute life assurance, pension scheme,
performance bonus, season ticket
train journey from the station, which is a five minute
loan, stocks/shares and study
walk from the office. The site has excellent sporting
support
facilities (including football and cricket pitches, tennis
courts, swimming pool and sports hall) and a staff
restaurant. Kingswood is home to over 1, 00 people
involved in an extensive range of activities. These How to apply
include our company pensions and life insurance
AppliCATiON deTAils
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93
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
over 20,000
o of qualified actuaries
c. 250 in the UK
No. of trainees
c. 150 in the UK
As the worlds leading global provider of talent,
Locations
health, retirement and investments services, we England, Scotland, Northern
specialise in helping global organisations stay one ireland and over 40 other
step ahead. Operating in over 1 0 cities and 1 countries around the world
countries were providing expert advice to over
International opportunities
0% of FTSE 100 companies, on everything from
yes
pension schemes and investments to salaries,
rewards and benefits.
vACANCy deTAils
No. of graduate vacancies
We offer professional excellence and a broad 50
range of services, making us an undisputed market
leader. Our graduate roles encompass actuarial, No. of work experience vacancies
30
retirement, investment consulting, and human capital
analysis. To succeed, you must be highly perceptive, Type of work experience offered
communicative and organised. youll be looking to Internships
be challenged by genuine responsibility, intellectual
stimulation and ever-changing client priorities. Disciplines recruited from
Numerical & semi-numerical
We offer extremely attractive rewards, including a backgrounds
company pension and an innovative flexible benefits
scheme. youll also enjoy a working culture that Min. degree required
recognises talent and understands the importance of 2:1
balancing work, life and leisure.
Min. UCAS points
300
Our 1 -month graduate development programme
includes a comprehensive induction and a focus on Benefits
equipping you with the range of skills you will need 25 days holiday, healthcare,
to become an exceptional consultant. pension scheme, study support,
season ticket loan, life assurance,
bike scheme, gym membership
Most of our graduate roles will also see you study and peformance bonus
towards a professional qualification actuarial,
the Investment Management Certificate (IMC) and
Chartered financial Analyst (CfA), or the advanced How to apply
diploma in retirement provision. Whatever you Please visit our website:
AppliCATiON deTAils
www.mercer.com/ukgrads
choose to study, were here to support you. Well pay
for your tuition fees, study materials, and give you a Contact information
generous study leave package. www.mercer.com/ukgrads
T: 020 7178 7192
Application deadline
Please visit our website for
closing dates
Scan for
Mercers
live jobs
BACK TO CONTENTS
95
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
c. 50 Group wide
o of qualified actuaries
9 Group wide
No. of trainees
73 Group wide
mock exams before their first actuarial exams.
Locations
In addition, employees are offered an induction Birmingham, Bristol, Edinburgh,
programme upon joining and an extensive Guildford, london and Wokingham
programme of internal training courses that are
held throughout the year, together with on-the-job International opportunities
No
training. Career planning and personal development
are assisted by an in-house appraisal system which
Type of work experience offered
applies to all employees. Other forms of training
vACANCy deTAils
Internships
include regular staff nights, weekly actuarial technical
training and technical seminars. No. of work experience vacancies
6-10
We are committed to the continued support of
No. of graduate vacancies
our employees, which is reflected in our Investor in 8-10
People (IiP) Gold accreditation.
Disciplines recruited from
Award winning Any degree discipline
Starting salary
Competitive
Benefits
23 days holiday, healthcare,
pension scheme, study support, life
assurance, bike scheme, performance
bonus and social events
Named one of The Sunday Times Top 100 Companies
to Work for 2013. How to apply
AppliCATiON deTAils
Trainee Profile
NAME Gemma Jefferies
lOCATiON Guildford
UNivErSiTy University of Bath
DEGrEE BSc (hons) Mathematics
rOlE Actuarial Trainee
BACK TO CONTENTS
97
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
c. 17,000 (UK) c. 180,000 (worldwide)
o of qualified actuaries
c. 215
No. of trainees
c. 211
Your career is just that; yours. You choose it. You
live it. You make it happen. To get the best from Locations
it, you need the best opportunities. Thats why Birmingham, Bristol, Edinburgh,
leeds, london and Manchester
opportunities are at the heart of a career with us.
Opportunities to grow as an individual, to build International opportunities
lasting relationships and make an impact in a place visit our global site for more
where people, quality and value mean everything. information www.pwc.com
And were proud, based on the opportunity we
vACANCy deTAils
offer, that students have voted us the number one No. of graduate vacancies
Graduate Employer in The Times Top 100 Graduate c. 50
Employers survey for the last ten years.
No. of work experience vacancies
Actuarial opportunities with PwC c. 25
Our actuarial practice is looking for graduates who,
Type of work experience offered
whatever their degree subject, background or insight days, talent academy,
aspiration, are highly analytical people who enjoy shadow a female leader,
working with others to help solve complex problems, internships and work placements
but also have qualities that make them stand out.
We help clients evaluate risks to their businesses, Disciplines recruited from
All degree subjects
using financial and statistical techniques to analyse the
likelihood and implications of different events. Its a Min. degree required
challenging and highly technical remit, made even more so 2:1
by the need to communicate complex findings in a simple
way, so that clients can implement actions that best meet Min. UCAS points
320 including a B in Maths A level
their interests. Very early on youll get the opportunity
to interact with clients enhancing your experience and Benefits
supporting your development along the way. 25 days holiday, bike scheme, gym
membership, healthcare scheme,
Your development interest-free loan, life assurance,
Actuaries need professional qualifications and we give all pension scheme, season ticket loan
and study support
the support youll need to get them. On average it takes
six years to qualify; PwC graduates usually take less than
four. Youll be supported during your training and benefit How to apply
AppliCATiON deTAils
No. of employees
COmpANy deTAils
17,000
Locations
Offices across EMEA, APAC and
Americas. UK graduate vacancies
are in Chertsey
vACANCy deTAils
services, managed iT services, information availability No. of graduate vacancies
consulting services and business continuity 2-4
management software. With annual revenue of over
.0 billion, SunGard is one of the largest privately Disciplines recruited from
Numerical disciplines including
held IT software and services companies.
mathematics, actuarial science and
computer science
iWorks Prophet
SunGard offers a range of products serving the Min. degree required
insurance sector. SunGards iWorks Prophet is an 2:1
enterprise-wide actuarial modelling system used
Min. UCAS points
around the world to model companies financial
300
business. it is used by 8,500 customers in more than 650
sites, in more than 55 countries. The iWorks Prophet Starting salary
department contains three core actuarial teams: Competitive
Actuarial Systems team design and
architecture of the iWorks Prophet Professional Benefits
and Enterprise editions. 25 days holiday, bike scheme,
dental care, healthcare scheme,
Library Development team development pension scheme, season ticket
of the actuarial codebase, to meet the latest loan, social events and study
international business requirements. support
Consultancy team working with SunGards
customers around the world, implementing
solutions to get the best out of iWorks Prophet.
How to apply
Graduate careers
AppliCATiON deTAils
BACK TO CONTENTS
99
EMPLOYER DIRECTORY
No. of employees
COmpANy deTAils
14,000
o of qualified actuaries
600
No. of trainees
350
Towers Watson is an exciting place to begin your
Locations
actuarial career. Along with a formal actuarial training Birmingham, Bristol, Cambridge,
programme, you will gain valuable insights into Edinburgh, Epsom, Leeds, London,
the business needs of some of the worlds most Manchester and reigate
sophisticated organisations.
International opportunities
yes
Who we are
Towers Watsons mission is to contribute to their
vACANCy deTAils
No. of graduate vacancies
clients success through utilising their unique 80-85
capabilities and deep expertise. We provide the
vision, ideas and answers to positively affect their No. of work experience vacancies
business results. Towers Watsons roots may go back 40-45
more than 130 years to the worlds oldest firm of
Type of work experience offered
actuaries, but their vision is firmly fixed on the future. Internships and insight days
in March 2012, fortune magazine ranked Towers
Watson as number one in its industry and on its list of Disciplines recruited from
the Worlds Most Admired Companies. various
Online at:
What do we look for? www.towerswatson.com/graduate/uk
We need talented and flexible individuals with superb We encourage you to apply by the
deTAils
first deadline
problem-solving and communication skills who meet
AppliCATiON
No. of employees
COmpANy deTAils
388
o of qualified actuaries
56
No. of trainees
Xafinity is a specialist pensions consulting firm which 56
recruits graduates as actuarial assistants. The company
is small enough to provide an innovative and supportive Locations
Belfast, leeds, london,
atmosphere to its employees, while at the same time
Manchester, reading and Stirling
offering the benefits associated with a large company.
International opportunities
With Xafinity you will develop analysis and
No
communication skills which you will need in order to
build a successful career in a challenging field.
vACANCy deTAils
No. of work experience vacancies
Xafinity offers an excellent study package to support 0
employees as they study to become qualified actuaries.
The package is flexible to meet individual requirements No. of graduate vacancies
and includes: 8-10
Full payment towards exam fees, study materials,
tutorials, mock exams and all administration costs Disciplines recruited from
Study leave of one day per week Maths, economics or science-
Office study area and supportive colleagues based subjects
including mentoring.
Min. degree required
Professional development 2:2
Actuarial assistants at Xafinity also focus on developing
skills to use in the real world via a series of in-house and Starting salary
external training sessions. These skills will be used for: Competitive
Understanding the actuarial profession and the
pensions industry Benefits
Accumulating general business and finance Pension scheme, study support, life
knowledge assurance and social events
Improving your ability to deal with clients in a
friendly and concise manner, and being able to
explain complex concepts in simple terms.
AppliCATiON deTAils
How to apply
Advice and support Online
On joining Xafinity, a qualified actuary will be assigned
as your mentor to offer support and guidance Contact information
whenever you need it. graduate.recruitment@
xafinityconsulting.com
You will also be assigned a buddy who will help you to
settle in to your new job and keep an eye on how you Application deadline
are getting on. They will be your first point of contact See website
when you are finding things difficult.
Scan for
Benefits and rewards Xafinitys
You will be offered an extremely competitive salary live jobs
which is reviewed on a regular basis. you will also
become a member of the flex benefits scheme enabling
you to select from an excellent range of benefits.
BACK TO CONTENTS
101
EMPLOYER DIRECTORY
Trainee Profile
NAME Nicola Duncan
lOCATiON reading
UNivErSiTy Swansea University
DEGrEE BSc (hons) Mathematics
rOlE Actuarial Assistant
Xafinity stood out amongst other companies We are always striving to improve the ways
because of the friendly and fun atmosphere in which we work, which leads to new work
at the assessment centre. The tasks we were processes. This means that from time to time
given were unusual and involved working we need group training sessions to ensure
as a team to solve different problems. This everyone in the office is up to date.
really suited me and helped me to relax. The
assessors were all really friendly which helped ife at Xafinity
me to perform my best. I actually surprised What I like most about working at Xafinity
myself by having fun at the assessment centre! are the people. Even after asking a thousand
questions they are all still happy to answer
My job more of my questions.
I have been working for Xafinity for over a
year now and am still learning something Outside of work there are a number of
new every day. There is such a variety of different activities to take part in, such as after
work, which can be anything from calculating work drinks, parties, qui nights and team
the total value of an individual members meals. These social events have allowed me
pension, to performing a valuation on a to get to know everyone better and help build
whole pension scheme. Valuations look at stronger relationships. This has helped give
the assets that a scheme holds and compares me the confidence to approach anyone in the
those to the value of all the pensions that office for help.
they must pay out to the members over their
lifetime. valuations can take a long time to Its very important for me to work in an
complete so it is great opportunity to learn environment where good staff relations are
all about a particular pension scheme, as each key, and for anyone feeling the same i couldnt
scheme is unique. recommend Xafinity more highly.
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104 GAAPS ACTUAriAl
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104
RECRUITMENT CONSULTANTS
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www.gaaps.com
Needcareer.
Your direction with
Where your
in the career
World?
GAAPS Actuarial
22 Bevis Marks, London EC3A 7JB
Telephone: +44 (0)20 7397 6200
Register at www.gaaps.com to find the latest opportunities
Part of the GAAPS Group of companies
Reference Table
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BACK TO CONTENTS
108
JOB REFERENCE TABLE
No. of qualified
No. of trainees
Type of work
Company
Locations
vacancies
actuaries
Aon
65,000 120 - Nationwide Internships 40 50
www.aon.co.uk/graduates
Amersham,
Bromsgrove,
Barnett Waddingham
Cheltenham,
www.barnett-waddingham. 550+ 110 95 Internships 10-13 10-13
Glasgow, leeds,
co.uk
Liverpool and
london
Buck Consultants Bristol, Edinburgh,
Internships
www.buckconsultants.co.uk Ipswich, London,
340 40 40 & industrial - 2-4
Manchester and
placements
reading
Canada Life Bristol, Potters
www.canadalife.co.uk 900 25 25 Bar, isle of Man - 0 c. 3
and london
Capita
Up Up
www.capita.co.uk 50,000+ 11 40 Nationwide Internships
to 3 to 3
london, Bristol,
Friends Life industrial
c. 5,000 125 90 Dorking and 8-10 8-10
www.friendslife.co.uk/careers placements
Salisbury
GAD london and
145 61 56 - 0 5-10
www.gad.gov.uk/careers Edinburgh
Birmingham,
Hymans Robertson Edinburgh, Summer
600+ 100+ 70+ 7+ 20+
www.hymans.co.uk/careers Glasgow and internships
london
Kingswood,
Legal & General
6,500+ 200+ 90+ Birmingham and Internships - varies
www.legalandgeneralgroup.com
london
Mercer c. 250 c.150
20,000+ UK and worldwide Internships 30 50
www.mercer.com/ukgrads (UK) (UK)
Birmingham,
Punter Southall Bristol, Edinburgh,
c. 850 98 73 Internships 6-10 8-10
www.puntersouthall.com Guildford, london
and Wokingham
Birmingham,
PwC c.17,000 Bristol, Edinburgh,
c. 215 c. 211 - c. 25 c. 50
www.pwc.com/uk/careers (UK) leeds, london
and Manchester
BACK TO CONTENTS
109
JOB REFERENCE TABLE
Additional benefits
Min. degree required
Application deadline
Healthcare Scheme
No. of days holiday
Performance bonus
Season ticket loan
Min. UCAS points
Pension Scheme
Further info - pg
Study support
Starting salary
How to apply
Social events
Check
2:1 - Competitive - l Apply online 74
website
Check
2:1 300 Competitive 22 l l l l l l Online application 76
website
Check
2:1 - Competitive 25 l l l l l l Apply online 78
website
4
highly
2:1 - - l l l l l l Apply online November 86
competitive
2013
Download 15
2:1 320 Competitive - l l l l l application form November 88
online 2013
Check
2:1 - Competitive 22 l l l l Apply online 92
website
Check
2:1 300 - 25 l l l l l Apply online 93
website
1
Cv & covering
2:1 340 Competitive 23 l l l l l November 94
letter online
2013
Check
2:1 320 - 25 l l l l Apply online 97
website
No. of qualified
No. of trainees
Type of work
Company
Locations
vacancies
actuaries
SunGard Offices across
www.sungard.com/ 17,000 - - EMEA, APAC and - - 2-4
graduatecareers Americas
Belfast, leeds,
london,
Xafinity Consulting
388 56 56 Manchester, - 0 8-10
www.xafinity.com
reading and
Stirling
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the only graduate career guide to
ActuAries 2013/14
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