Cynthia Yuan, Assistant General Manager

Position: Assistant general manager,actuarial and risk management department Studied: International trade Now working for: China Re (Group) Ltd, Beijing, China

What made you decide to take the UK actuarial qualification?

My first degree was in international trade which was finance related. I had also studied a lot of statistics in the UK. It is much more common to take an actuarial route in the UK than it is in China. As stated on the UK actuarial website “making financial sense of the future”. That is exactly what I want to do.

What opportunities do you think that it has opened up for you?

After I joined the profession I have been exposed to various kind of work like reserving, pricing and capital modelling. All of them are essential to support China Re (Group) Ltd to make well informed, scientific decisions. As my career progressed, I found the analytical skills I have gained during the study and training helped to clarify many different situations for the management, ranging from whether to write a single small contract of the year to strategic planning for the future. This gives me the opportunity to have a good insight into how the company operates, which I found fascinating.

How are you finding the route through the qualification?

Hard. The exams are extremely hard. I have passed first nine exams in three sittings, following five exams in four years and the last exam in five years. It seems the time I take to pass exams extend exponentially. I guess I am an exception. But I do know that the last exams tend to be a problem for Chinese students. Language and the culture can be a big hindrance especially in the final papers where it is more difficult for Chinese students for example to apply their knowledge. This takes practice and perseverance.

Do you have any advice for anyone wanting to get into the industry?

You need to be motivated for the exams. Plan your study carefully and make some sacrifice in your social life. Once you are qualified, the rewards are huge.

Do you find there is a good work/life balance?

Yes. A work life balance is essential. Some willpower is needed. Once the balance is found every day is productive. Yes your priorities change for a time, but it isn’t forever.

What challenges have you come across especially working as an overseas member and how did you overcome these?

Being an overseas member I found I had less opportunity to gain the useful training, networking and communication opportunities we had back in the UK. There are so few Chinese FIA here in Beijing we literally know everyone! We try to keep in touch by participating in the annual event held by the Profession in China. I attend an actuarial conference once every year in the UK. I also try to keep in touch with the Profession via my friends in consultancy firms. They normally have global resources.

How do you feel the UK qualification has benefited you in your working life?

The most useful skills the UK qualification has provided me are analytical and communication skills. It is not just about the number crunching. It is about making sense of the financial uncertainty and ensuring it is passed on to key decision makers. I like that UK profession is not just focused on sophisticated statistical methods. They also focus on induction and integration and how to form consistent advice. Good analytical skill cultivates sharper common sense. All of this makes the UK actuarial profession is so helpful in my working live.

What is a typical day for you?

My typical day starts with a cup of green tea and reading emails. I will flag my emails with importance and plan the time to do the work. There is normally a meeting at 10am - whether it is new instruction from my boss or communication with other departments. 11.30 is lunch time. We have one and half an hour’s for our lunch break. I either take a nap or go for a swim. 1 pm I normally meet with my team to check the work progress of various projects we are engaged in. Other times I will talk to our auditor or consultant to discuss our projects. I finish at 6pm and go home to see my daughter.

How do you manage your work/life balance?

Being a working mum can be difficult. But my daughter is very understanding. She sometimes plays in my office when I need to work overtime. My parents are very supportive too. I am lucky to have such supportive families.

What would you like to achieve in the future?

I would like to build the first group-wide economic capital model to help China Re (Group) Ltd to use their capital more efficiently. I would like to build a useful risk management frame to help our board to make decisions.  I find the work is very interesting.