Michael Clark. Career model

Michael Clark FFA/FIA: 1992 Company: Shell International Role: Project Finance Manager Other actuaries: I first went to work for Shell International in 1998 when their Head of Project Finance - also a qualified actuary - offered me a position within his department.

First job: Working as an actuarial student in Johannesburg.

Key steps between first job and current one

Moving from Scottish Life to Hambros Bank in 1995, then my latest move to Shell in 1998.

Current work

I have been seconded from Shell to the Sakhalin Energy Investment Company Ltd until 2003. My work involves facilitating the financing of the Sakhalin project by acting as a 'window' between the company and banks involved. Managing the process is a complicated affair as it involves drawing up a financial plan, sourcing information about the project and leading negotiations with banks. I also have to seek advice from the engineering and contracting teams, lawyers and insurance advisers; consider environmental issues, cashflow forecasts and our shareholders' requirements.

Opportunities for others

Today there are a growing number of opportunities for actuaries to move into corporate finance, for instance, project work within the banking environment.

Hurdles to surmount

Although it is probably easier to make the transition from a traditional actuarial role to other areas these days, determination and persistency are still essential qualities as the move may not come about overnight! I would also stress the importance of communication in my sort of work as dealing with people as well as figures calls for the sort of skills not always associated with the actuary.

Original reason for becoming an actuary

Being good at maths when I was at school, but not wanting to become an accountant, I looked around for alternatives. Careers literature first suggested the idea of going into the actuarial profession, and this sounded very appealing.

Subsequent thoughts

I liked the idea of working in the City, with its buzz and excitement, and I knew even before I qualified in 1992 that I didn't want to follow the traditional actuarial path.

Career history

After working as an actuary in Johannesburg, I moved to Scottish Life in Edinburgh. It was while I was working in their marketing department that I decided to move into other areas. My next step was into the banking sector with Hambros in 1995; I knew I would have to work hard to establish myself in my new environment but I felt the opportunities far outweighed the risks, and I know that the financial prospects in the world of finance - particularly investment banking - would be greater than those in traditional areas.

In 1998 I got the opportunity to move to Shell International. After working as a shareholder representative on various project financings and acquisitions, I moved at the end of 2000 to my current position with the Sakhalin project.