PridePaperInterviewTranscript

withMrs.ArdenCooke

1.Couldyoudescribeatypicalworkday?
Atypicalworkdayformechangesthroughouttheyear.Iwork
inhealth&benefitsconsulting,soIworkwiththeHumanResourcedepartmentsatotheremployersto
determinewhatbenefitstheyshouldoffertheiremployees.ThesebenefitsrangefromMedicalInsurance,
Dental/Vision,Insurance,Life&DisabilityInsurance,tootherbenefitssuchasEAPs,andConcierge
plans.MostdaysIwillworkonacombinationofthefollowing:Financialreportsoranalysisformy
clients(includingIncurredbutnotreported/paiddocumentation,andannualbudgetingreports/updates),
preparingforanupcomingmeeting(puttingtogetherapresentationandorputtingtogetherbudgeting
numbers),answeringgeneralquestions,gatheringdata,anddataanalysis.Ithinkthisissomethingthatis
SIGNIFICANTLYdifferentforsomeonewhowouldbeinadifferentlineofactuarialworkthanIam.

2.Whatskillsarenecessaryinyourpositiononaday
to
daybasis?
Ifoundthatmyanswertothiswas
verydisjointed,soIjustlistedbelowtheskillsIthinkareuseful(innoparticularorder,justhowthey
cametome).Again,thisissomethingthatIwouldexpectwouldbesignificantlydifferentforanactuary
inadifferentroleactuariesatinsurancecompaniestendtohavemuchmoremathheavyrolesthanIdo.
a. ComputerskillsandanunderstandingofExcelisamust.YoudonthavetoknowEVERYTHING
aboutexcel,butthemoreyouknow,theeasieritmakesyourjob.
b. Attentiontodetail.
c. Understandingofinsurance/underwriting(thisissomethingyoulearnasyougo,butwhereIam
nowisanecessarypartofmyjob).Understandingofactuarialconceptsrelatedto
insurance/underwriting.
d. Iwouldsaythebestskilltohaveisgeneralproblemsolving.Theabilitytogatherinformationor
dosomethingyouveneverdonebeforeinaconciseandthoroughwayisveryimportant.Ifthisis
lookingathowotherpeoplehavedonesimilarthingsorjustresearchingontheinternetorour
companysite,themoreknowledgeyoucanget(withinareasonabletimeframe),thebetter.
e. Theabilitytoselfcheckyourwork.
f. Theabilitytothinkthroughsomethingthatiscomplexandexplainitonalevelthatanonactuary
canunderstand

3.Howfrequentlydoyoutravelforyourjob?
Thisissomethingthatvariesthroughouttheyear.Itendto
havemoreclientmeetingsinthesecondandthirdquartersthanthefirstandfourth.Iwouldsayinthe
secondandthirdquartersIprobablyaverageclientmeetings6to8timesamonth.Andthefirstand
fourth,perhaps2to3timesamonth.MostofmyclientsareintheCharlottearea,however,soIdovery
littleovernighttravel.

4.Howmanyhoursdoyouworkinatypicalweek?
4560.Q2andQ3tendtobebusierthanQ1and
Q4.

5.Whatpartofyourjobismostchallenging?
Balancinglifeandworkatthesametime.Plusfindingtime
tostudywhilealsoattendingtoclientsneedsisverychallenging.

6.Onascalefrom1
10,howstressfulwouldyouconsideryourjobtobeandwhy?
Itchangesthroughout
theyear,andsometimeseventhroughouttheday.Therearecertainlytimeswhereitisa10,andthereare
certainlytimeswhereitisa1.Onaverage,Iwouldsaymaybea3or4?

7.Whatwouldyousayisanaveragestartingsalary?Whatisanaveragesalaryafteronebecomesa
fellowofanactuarialsociety?
CheckouttheDWSimpsonSalarySurvey(googleit).

8.Howdifficulthastheexamprocessbeenforyou?Howlongdoesittakemostpeopletocompleteallof
theexams?(Iknowtheexamsareaveryimportantaspectofthiscareer,soifyouhaveanyother
informationabouttheexamprocessortheexamsthemselvesthatyouthinkisimportant,pleaseinclude
thatinformationaswell).
Examsarenoteasy.Ithinksomepeopleflythroughtheexams,andsometake
longertogetthroughthem,thisisextremelyvaried.Ithinkintheconsultingfieldthatitisimportantto
balancethetwo.Youneedtogainanunderstandingoftheindustrythatdoesntcomesolelyfromexams
inordertoprogressyourcareer.

9.Youmentionedthatyouworkinthehealthconsultingfield.Wouldthisbethefield/specializationyou
wouldrecommend?Whataspectsofthisfielddoyoulikeanddislike?
Iwouldrecommendthehealth
consultingfield,Ilikeit.Itdependsonwhattypeofpersonyouareandwhataspectsofactuarialscience
youlike.Ipersonallyreallyenjoyworkingwithclients/peopleandsolvingpeoplesproblems.Consulting,
however,isafieldthatisgoingtotypicallyhavemorestressthanageneralinsuranceactuary.

10.Whatpersonalattributesdoyouthinkareimportantforsuccessinthiscareer?
IthinkIkindof
answeredthisinapreviousquestion,butdefinitelytheabilitytoselfstudyandhavingagoodwork
ethic.

11.IsthereanythingelseyouthinkIneedtoknoworanyadviceyouhaveforsomeoneconsideringthis
career?
Talktoasmanyactuariesasyoucantoseeandunderstandthedifferentwaysyoucangoinan
actuarialcareer.Ifyoureallyareinterestedinthecareer,IwouldHIGHLYsuggestyoulookinto
internshipswhileyouareincollege(andevennetworkwiththeactuariesyouvetalkedtoabout
internships).Myunderstandingisthatentrylevelworkishardertofindnowadaysduetothelarge
numberofaspiringactuaries.Ifyounetwork,though,itshouldntbeaproblem.Iwouldalsosuggestyou
takeexamswhileyouareincollegeasitismucheasiertotakethemincollegethanwhileworking,at
leastinmyopinion.Also,therearesomeactuariesinsmallerareas,butmostofthejobsareinlarge
cities,soIwouldsay(itisntarequirement,butsomethingtothinkabout)thatyoushouldconsiderthe
possibilityofmovingawayfromhome.