Nikhil Gupta - Solvency II Actuary, RSA Singapore

Name: Nikhil Gupta Role: Solvency II Actuary Company: RSA Location: Singapore Degree: MSc Actuarial Management at Cass Business School, London and B.Tech at JIIT University, India

An actuarial job in London, Delhi, Singapore and don’t know where next!  Does that sound exciting and something that you would fancy?  The actuarial qualification can provide you this global platform and the key to unlock any of the insurance markets that you want to work in.

In my current role, I’m working with RSA Singapore as a Solvency II Actuary.  I’m a P&C actuary and qualified last year. I’ll be completing 5 years of work experience of which 3 years were in Delhi and approx. 1 year each in London and Singapore.  I have worked in reserving, pricing and lately in Solvency II domain to get a flavour of core domains and build a strong actuarial foundation.

What made you decide to take the UK actuarial qualification?

I decided to pursue exams from the Institute and Faculty of Actuaries, UK along with the Institute of Actuaries of India for the reason that IFA qualification had better recognition globally and that the two institutes had a mutual recognition agreement.

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

I have got access to global insurance markets which otherwise might have been difficult.  Movement across borders is relatively easier compared to other qualifications. 

Most countries recognise IFA as one of the few actuarial bodies whose fellows don’t need any special approval to take up a regulated role or become a member of their actuarial societies.

How did you find the route through the qualification?

This journey has been a long one with a lot of successes and failures which have helped me become a better professional. Achieving each milestone one after the other kept the momentum going until the last feather in the hat was conquered in 2012! It was quite challenging to manage work along with studies and a disciplined approach was required to keep on track. For many students, this profession is where they face the first failure and it’s difficult to overcome that setback.  Once you do, you start enjoying the journey.

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

I have come across many students who compare actuarial science with other professional courses to make a career choice.  Majorly the comparison is with postgraduate courses, mostly MBA.My thought on this is that it’s very difficult to get into a premier management college but once you get in, it’s relatively easier to pass out.  However, it’s opposite for actuarial science; it’s very easy to get in but very difficult to pass out! So once you decide for it, stay committed and stay focussed!

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

Take the studies out, Definitely Yes!

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

One challenge being an overseas member is not able to keep abreast with the industry developments as other countries aren’t having many seminars and conferences.I mostly attend the local actuarial body events and rest keep a track of via the actuarial magazine.

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

I feel it has definitely helped me place myself on a steep learning curve gaining experience in different markets and different aspects of actuarial world.One key aspect of above statement is that UK qualification has helped me with gaining experience in “different markets”.

What is a typical day for you?

I work in a very global team of 4 members, with one each in Argentina, London, Latvia and I in Singapore! I start my day with sorting through the emails and prioritising tasks for the day.Generally my daytime is quite and I’m able to work on my tasks and attend any meetings required with the local stakeholders.I get to interact with my team members across other part of the world during late afternoons and once a week stay late to catch up with my Latin American colleague.

How do you manage your work/life balance?

Work/ Life balance isn’t much of a concern for a bachelor.  I usually don’t carry work back home and make it a point to find time to pursue my hobbies and practice for half marathons.The time I devoted to studying earlier now goes in exploring other things and the city.

What would you like to achieve in the future?

I just realised that until now, Qualification was the only aim.  Now I start to think what I want next!  Currently I’m enjoying the freedom from studying and exams!