INTERNSHIP EXPERIENCE STUDENTS’ ACTUARIAL SOCIETY

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  • INTERNSHIP EXPERIENCE STUDENTS ACTUARIAL SOCIETY
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  • Andy Cai Lloyds Banking Group
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  • AGENDA Background Application Process Life as an intern Application Tips International Students Company Deadline List
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  • MY BACKGROUND A Level- AAA in Maths, Further Maths and Physics Bath - BSc Maths and Stats - 2.1 Heriot Watt - MSc Actuarial Science - Pass Unique Voluntary Work Work Experience Passion
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  • LLOYDS BANKING GROUP
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  • LIFE AS AN ACTUARIAL INTERN Work Social Training Benefit
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  • APPLICATION PROCESS
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  • STANDARD APPLICATION PROCESS Pre Screening Process Assessment Day/Centre
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  • PRE SCREENING PROCESS Application Form/ CV / Cover Letter Online Test (Numerical, Verbal, Logical, Personality) Telephone Interview
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  • ASSESSMENT CENTRE Competency Based Interview Group Exercise Role Play Case Study Presentation Individual Witten Up E Tray Paper based Numerical, Verbal and Logical Test Tour of Company Meet with Graduate Lunch
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  • MUST-PREPARED INTERVIEW QUESTIONS 1. Why do you want to work for us? 2. What do you know about us? 3. Why do you want to apply for this position? 4. Why are you suitable for this position? 5. What do you think you are going to do in this job? (Deloitte) 6. Why do you want to become an actuary? 7.Current Issue that affect insurance industry? Auto Enrolment, Solvency II, Longevity, Climate Change, Pension Reform,
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  • 2015 ACTUARIAL SUMMER INTERNSHIP DeadlineCompany with deadlineWithout Deadline 30 Oct 2014 6pmPwC (London) Other Location PwC 14 Nov 2014Barnett Waddingham AIG 21 Nov 2014Standard Life Swiss Re 14 Dec 2014First Actuarial Deloitte 17 Dec 2014Hymans Robertson Mercer 16 Jan 2015Towers Watson Ernst Young 16 Feb 2015 9amCatlin Zurich 02 March 2015Punter Southall Allianz 06 March 2015LCP 27 March 2015 6pmPwC (other)
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  • GRADUATE SCHEME FOR INTERNATIONAL STUDENTS ONLY (TIER 4) Actuarial Salary Tier 2 Visa Sponsorship (Work Permit) 20,500/year - Minimum for any job 27,600/year -Minimum for Actuarial
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  • 2015 ACTUARIAL GRADUATE SCHEME DeadlineCompanyTier 2 Visa/Sponsor ship Comments 27 Oct 2014Hymans RobertsonYESApp Tel - AC 30 Oct 2014 6pmPwC (London AIMS)YES 03 Nov 2014 9amCatlinNo 03 Nov 2014Punter SouthallNO 06 Nov 2014PrudentialYES 10 Nov 2014AXAYES 14 Nov 2014LCPYESApp - AC 15 Nov 2014Towers WatsonYES 15 Nov 2014First ActuarialNO 21 Nov 2014Standard LifeYES 30 Nov 2014XafinityMaybe 05 Dec 2014Munich ReYES 19 Dec 2014WillisNO 31 Dec 2014Friends LifeYESApp - Test - AC 31 Dec 2014ZurichYES 31 Dec 2014APR LLPNO
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  • 2015 ACTUARIAL GRADUATE SCHEME DeadlineCompanyTier 2 Visa/Sponsorship Comments RollingPwC (Edinb, Man, Read)YESLondon HRC, ERC CLOSEDErnst YoungYESRe-Open Later RollingDeloitteYES RollingKPMGYES RollingGrant ThorntonsMaybe RollingMazarsMaybe RollingAonNO RollingSunGardMaybeActuarial System RollingAIGMaybe RollingMercerYES RollingMillimanMaybe
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  • 2015 ACTUARIAL GRADUATE SCHEME DeadlineCompanyTier 2 Visa/Sponsorship Comments Not Open YetDirect Line Group Not Open YetKiln Tokio MarineApril 2015 Not Open YetAegonMarch 2015 AllianzNO Not Open YetRSA Group Not Open YetSwiss Re Not Open YetAvivaNo Not Open YetLloyds Banking GroupMay/July 2015 Not Open YetLegal and General Barnet WaddinghamYESNo position for 2015
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  • CONCERNS? Competition is High? Application Process is too complicated? Do not have 60+ in your year average? Do not care when to graduate? Need some money?
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  • REASONS YOU MUST DO AN ACTUARIAL INDUSTRIAL PLACEMENT Competition is very low!!!!OMG! Why? Simple Application Process Low/flexible Entry Requirement Potential Graduate Offer Experience Count towards your WBS Finance After Graduation
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  • ACTUARIAL INDUSTRIAL PLACEMENT(12 MONTHS) DeadlineCompanyComments RollingPrudential15 Months Barnett Waddingham RollingDeloitte 31/12/2014Friends Life RollingPunter Southall RollingAviva RollingTravellers RollingRSA Group RollingArgo International RollingWillis RollingMercer15 Months RollingAXA Allianz
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  • TIPS First Year Student Apply Early Full use of Career Service Inside Career Commercial Awareness Excel/ VBA Study and Application Balanced 2.1 is a must (80+ for Chinese University) DO NOT wait until you study for your master degree Master is optional Motivations Exemptions is important but not that important compared with work experience at this stage
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  • ?
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  • Lauren Blair 4 th year BSc Actuarial Science
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  • HYMANS ROBERTSON -Independent Company -Four Main Business Areas: -Actuarial and Benefits -Investment -Risk Modelling Consulting -Third Party Admin -Four Main Offices: -Glasgow, Edinburgh, Birmingham, London
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  • APPLICATION AND INTERVIEW -Application Form -Telephone -Assessment Centre -Final Interview
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  • WORK EXPERIENCE -Eight weeks long -Actuarial Department Public Sector Pensions -Team of twelve -Eight interns across Edinburgh and Glasgow -Five interns from Heriot Watt
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  • WORK EXPERIENCE- CLIENT WORK -Calculating Contribution Rates -Estimating Liabilities -Data Checks and Validation -Accountancy Work -Drafting Reports / Letters -Phone / Email Clients -Calculating Transfer Values -Funding Updates -Solvency Calculations
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  • WORK EXPERIENCE- SOFTWARE USED
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  • WORK EXPERIENCE- SUMMER PROJECT -Create a spreadsheet to categorise employers -Weekly catch ups -Help within the team -End of placement presentation
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  • WORK EXPERIENCE - SOCIAL -Public Sector Barbecue -Pub Quiz -End of Month Drinks -Teams Lunches -Actuarial & benefits Practice Away Day
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  • TIPS -Have your application double checked -Good answer structure -Know the company -Good industry awareness -APPLY!!
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  • Yuki Sun 3 rd year BSc Actuarial Science
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  • VALIDUS REINSURANCE Mainly short-tailed lines- Marine, Property Catastrophe, All Other Property, Specialty Headquarters in Bermuda, also has offices in the US, Switzerland, London, Dublin, Chile, Singapore, Switzerland, Canada, Dubai, Malaysia
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  • APPLICATION AND INTERVIEW Received the internship opportunity through networking.
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  • WORK EXPERIENCE- PROJECTS - Enhancing the property reinsurance pricing model -Building an Excel tool for peer loss development triangle analysis on insurance/reinsurance companies similar to Validus. A presentation upon the completion of the project to show the actuarial team our findings. -Writing SQL codes for Excel pricing models -Weekly actuarial meeting
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  • WORK EXPERIENCE- SOFTWARE USED
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  • WORK EXPERIENCE- SOCIAL Team of 14 friendly and warm actuaries Sociable space in the kitchen, easy to meet colleagues from other departments. TVs for World Cup Summer party, happy hours
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  • TIPS Take FULLLLLL advantage of networking events. Use LinkedIn to connect with colleagues and network with industry professionals.
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  • ?
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  • CONTACT DETAILS Lauren Blair: lb130@hw.ac.uklb130@hw.ac.uk Andy Cai: xc95@hw.ac.ukxc95@hw.ac.uk Yuki Sun: xs58@hw.ac.ukxs58@hw.ac.uk