Position: Pensions Consultant
Studied: MORSE (Maths, Operational Research, Statistics, Economics) at the University of Warwick
Now working for: TowersWatson, Reigate
During A levels when I was going through the UCAS process, my maths teacher suggested I look into the actuarial profession as she believed it would suit my abilities. The Actuarial Profession website was especially helpful when researching as it has a section for students, and gave me a genuine insight into what the profession entailed. As I enjoyed maths and wanted a challenging job which would utilise mathematical and analytical skills, and which would involve frequently conversing with colleagues as well as clients, I chose to pursue the profession.
As an actuary you get the opportunity to perform the calculations whilst also meeting the clients you are doing them for, which provides the opportunity to see where the work you do fits in the bigger picture. I have found this aspect to be highly rewarding.
In my second year at university I did a summer internship at an actuarial consultancy, which gave me an insight into the day-to-day work involved and helped confirm that this was the right career path for me. The Profession is very well regarded globally, which is reflected in your pay package and job security.
I work in the Benefits Practice at TowersWatson, which involves working on pension schemes for companies across the country. The clients I work with are both large and small and it's nice to sometimes see a client you're working with in the newspaper or on the news. Every day is different, which makes the job interesting. On a daily basis I might be working on calculating the value of an individual member's pension, valuing the whole pension scheme, developing key pensions software for clients, attending client meetings, assisting with developing presentations for clients and giving training.
At TowersWatson you are encouraged to think independently and use your initiative to come up with your own way of getting the answer. Training is also a key part of being an actuary, to help develop your knowledge further.
As an actuary, it is essential to have team working skills. A lot of the work I do is in teams, and it is important to be able to work within the team to get the task completed efficiently and on time. Also, you need to be able to manage your time efficiently as sometimes you will be working on a few tasks at the same time with different deadlines and having to fit study into your week as well. You need to be able to motivate yourself, think independently and enjoy learning.
The thing I like most about my job is the people I work with. In the Reigate office I work with people from diverse backgrounds and cultures. The people are very approachable and everyone is always willing to take time out to answer any questions I have. The environment at TowersWatson is very friendly and there are many socials organised throughout the year. Everyone works hard, but also knows how to enjoy themselves, which makes working here very enjoyable. I also like the fact that you are continually learning and as a graduate you will be joining with many people who are in the same position as you.
As you develop and gain more experience, it can become difficult to fit a social life, work and study in and so time management becomes very important. However there are so many socials going on and you are encouraged to maintain a good work/life/study balance. Occasionally you may have to work longer hours; however the culture here is very supportive and rewarding.
I still have quite a few more exams to go, however I am hoping to do a Masters course, offered by TowersWatson that will also get me closer to qualifying. The study package is quite generous and the supportive culture all help towards becoming a qualified actuary. Pensions is quite a hot topic at the moment and the industry is continually changing which keeps my job very interesting.
I would advise anyone considering an actuarial career to read the Actuarial Profession website and find out as much as you can about the profession as a whole. Employer websites, such as the TowersWatson graduate website, are extremely helpful as they contain specific job descriptions and profiles of people who work there. Most employers offer summer internships and insight days which can also be very useful as this gives you the opportunity to talk to people who do the job and to find out what it's really like to be an actuary. Life as an actuarial consultant is hard work, but at the same time makes for a highly rewarding career.