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Glenda Ashison - Croydon - 1991 - 1996 An Actuarial Career
Since leaving Croydon High School and gaining a Maths degree from UCL, I have been working as an actuarial trainee. In this position I’m currently studying towards the Fellowship of the Institute of Actuaries (FIA) professional qualification. My interest in this relatively small but well respected profession was generated following a series of actuarial internships at Barnett Waddingham LLP in the summer breaks during university.
As an actuarial trainee in the pensions industry I have been involved in a wide range of work including actuarial valuations and individual benefit calculations. These form part of the platform on which an actuary will base his or her recommendations to a client about funding their pension scheme.
Aside from the more typical calculations and reports I have been fortunate enough to gain exposure to a variety of different projects involving computer programming and research for expert witness projects.
Part of the attraction of working as a consulting actuary is that you are asked to meet regularly with clients to communicate results of complex calculations. You need to be able to explain these results in a non technical language to enable the client to make important decisions.
Studying for the actuarial exams alongside a full time job can be tough and qualification usually takes between three and six years. The complete exam process consists of 15 exams covering a range of subjects including mathematical modelling, statistics, economics, finance and legislation. Anyone interested in pursuing an actuarial career would be well advised to look into the current exam syllabus on the profession’s website www.actuaries.org.uk to gain a feel for the scope of the FIA qualification.
Most actuarial firms will provide a study package incorporating a combination of study days (usually one per week), course materials, tutorials, mock exams and exam entry fees. However you will still be expected to use some of your spare time for additional studying.
I would be happy to answer questions from anyone who is interested in pursuing an actuarial career. Most actuarial firms (including Barnett Waddingham LLP) now provide some form of work experience or summer placements to students who are already at university. You can contact me for advice via email.
For anyone considering an actuarial career my tips would be:
1) Research the actuarial exams and consider whether these areas of study would interest you. Both the exams and the job require good mathematical and logistical skills and most actuaries have a numerate degree.
2) Try to obtain relevant work experience / summer placements during university.
3) Apply early in the academic year (September) for placements and full-time positions as these tend to fill up very quickly.
4) If you are called for interview be familiar with current financial news and have some opinions on current financial news before you turn up.
Glenda Ashison BSc (Hons)
Actuarial Assistant, Barnett Waddingham LLP |