News Type: Future Focus Blog Posts

Webinar Recap: Your Actuarial Job Search – Guidance on Resumes, Interviews, and Networking!

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Last month CAS Student Central hosted a webinar entitled, “Your Actuarial Job Search – Guidance on Resumes, Interviews, and Networking.”

The webinar featured presentations from three actuaries, Wesley Griffiths, Regina Kintana, and Mark Maenche, who each spoke about a different aspect of the job search. We have highlighted some of the tips they shared during the webinar! For the full presentation, you can view the webinar recording within the online community.

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Wesley Griffiths, FCAS, 2nd VP & Actuary at Travelers Insurance, on Networking:

Wesley covered a range of topics to help prepare you to network successfully; from where to network, to how to start a conversation, to following up. Here are a few highlights from the tips he shared:

How to start a conversation: Having the confidence and initiative to approach someone and begin a conversation is important in networking. Prepare by having some conversation starters ready. At an in-person event, open with something shared, from the weather that day, to commentary about the event (the keynote speaker, the food, etc.). People like to talk about themselves. Lead with a question, for example: “I’m new to this event, what did you think about it?” While initiating conversations with new people can be intimidating, take every opportunity you can to practice this skill, as this will help you become more comfortable over time.

The importance of preparation: Approach your next career fair, informational interview, or other targeted networking opportunity, with a plan. Take time to think through what you are hoping to accomplish, do research on who you will be talking to, and be intentional about what you would like to talk about. Have your elevator speech prepared and practiced. And finally, do your best to be relaxed, confident, and genuine.

The art of the follow up: Building your network and cultivating lasting relationships requires that you follow up with your new contacts soon after meeting. Connect with them on LinkedIn. Leave a lasting impression by sending a note. Be specific in your note, referencing what you talked about, for example, “I really appreciated you recommending that article, I’ve shared it with my peers,” or “I enjoyed meeting you and hearing your perspective on X topic.” Be sure to thank them for their time!

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Regina Kintana ACAS, Assistant Director at Liberty Mutual Insurance, on Resumes:

Regina outlined several tips to help actuarial students develop an effective resume, from making it visually appealing to what information to include. We’ve featured some of her advice below:

Make a good first impression: Construct your resume in a way that will be easy for a recruiter or hiring manager to read. You can do this in a few simple ways: have your content go down rather than across, make the formatting consistent, and only include relevant information (some white space on the page is okay). Before sending your resume over, convert it to a pdf to maintain the formatting and personalize the file name to include your first and last name, making the file easily identifiable to a recruiter.

Include relevant information: Though one size does not fit all, keep in mind the essential information to include:

Contact info – phone number and email address (your physical address is not recommended)

Education – school, degree, major, (expected) graduation date, and your GPA if it’s close to 3.0 or higher

VEEs and Exams – completed VEE’s and actuarial exams passed along with dates, as well as exams you will take in the (near) future

Applicable Work Experience – dedicated section for actuarial or insurance work experience entitled “Actuarial (or Insurance) Work Experience”

Relevant Projects – class projects or case competitions that highlight analytical, technical or insurance related skills and experience gained

Other Work Experience – jobs held during and after college

Leadership Experience – club participation and volunteer opportunities

Skills – technical skills and language fluency

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Mark A. Maenche, CIC, CRM, Senior Actuarial Analyst at Risk International Actuarial Consulting, on Interviewing:

Mark discussed tips, advice and ways to prepare for an interview. Here are a few highlights from his discussion.

How to Prepare: Be mindful of social media and the access employers have to the information you’ve posted online. Employers use social media to screen candidates before hiring. Do your research. Learn whatever you can about the position and company, so you can ask intelligent questions and demonstrate your competence and interest in their firm. Smile! The interview offers you a short window to make a good impression; be prepared to smile, as this goes a long way! Dress the part, potentially leveraging your network for guidance on what to wear. Consider your responses, practicing routine interview questions ahead of time, and have examples prepared that will highlight your skills. Evaluate your technical skills, and be ready to communicate the value that you can offer with your skills.

During and after the interview: Plan to arrive early, taking into account potential issues that may delay your arrival. During the interview, ask questions that will allow you to evaluate if the organization is a good fit for you (exam support provided, work/life balance, etc.). After the interview, send a thank you note to each interviewer, an email is fine. This is the last chance you have to make a good impression! Make sure you proofread your thank you notes carefully, as they demonstrate your written communication skills.

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Cybersecurity for Everyone

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Cyber risks are ever-present in our day-to-day lives and they continue to grow rapidly. Hackers take advantage of constantly evolving technology to find new ways to access the private data of major companies.

For companies, it is less expensive to invest in cybersecurity than it is to clean up after a data breach. Without adequate levels of cybersecurity, companies not only experience the cost of a data breach, but also a loss of reputation and drop in stock prices.

Cyber risks can affect all forms of technology. Employees should understand security issues and how their behaviors can increase or reduce security risks.

What Companies Should Do

While an IT department can use evolving technologies to stop advanced attacks, human factors are really the key to protecting companies’ data. Simply throwing more money and resources at cybersecurity is not the answer. What is most important is to create a culture of cybersecurity at work and make cybersecurity everyone’s business. To truly reduce their cyber risks, companies must work towards being proactive rather than reactive.

Ensuring security measures is not solely the responsibility of the security team. The change should start at the top and cybersecurity should be considered an integral part of business. Companies should provide ongoing cybersecurity education and training to their employees and enforce effective security policies.

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What Employees Should Do

Research shows that the biggest risk is employee negligence.  Effective cybersecurity requires the involvement of everyone all the time.  Employees are the company’s first firewall. Technology and law enforcement are all important, but employees need to adhere to security policies.

While ongoing employee education, training, and reviews are very important for cybersecurity at work, the focus should be on individual responsibility. Employees must follow basic practices to protect the company and its data. Every employee needs to know about online security and start with the tools they use every day. In actuality, putting time and attention into cyber security is more convenient than it seems. The key is to follow some basic tips.

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Basic Tips

Develop strong passwords and change passwords often. Employees tend to use the same password for everything. Eliminating weak or redundant passwords is the first step employees should take. One employee’s weak password has the potential to compromise, not only the company’s data, but also the data of those serviced by the company.

Think twice before logging on to an open Wi-Fi network. Many employees travel frequently for business. If connecting to a public Wi-Fi network is absolutely necessary, use a VPN.

Think before you click. Phishing emails don’t always come from strangers. Often they can come from friends and colleagues. If you receive a request for sensitive information, contact the sender by phone to confirm. Check the display name to see if the domain matches the name. In a fraudulent email, these will not match. Hover over links to fully read domains exchanged through email.

Keep your applications updated. Sometimes employees are just lazy and choose convenience over security. Employees can get annoyed by reminders to update their applications because they think these updates are just optional. These updates are to ensure necessary security features, which make it harder for hackers to attack.

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How I Succeeded on My Path to Becoming an Actuary and How you Can too

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We invited CAS member Carlo Lahura, ACAS, to share his advice on being a successful actuarial student. Carlo is an expert in this subject, as he was able to graduate with a 3.8/4.0 GPA, held five actuarial internships, served five terms as actuarial club president, and passed 7 actuarial exams, all while earning his university degree!

Hola!

My name is Carlo, and I graduated from the University of Waterloo in 2017 as Valedictorian with a wealth of experience on my resume. I currently work with EY’s P&C practice in Chicago as an Actuarial Consultant.

After having talked with numerous other successful graduates who managed to balance large commitments, as well as reflecting back on my own university experience, I believe the following 3 mindsets are crucial for ensuring your wild university success:

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1. DO NOT AVOID SACRIFICES.

Your success is proportional to how much you’re willing to sacrifice. I sacrificed nearly my entire social life in university to accomplish what I did. I will NEVER regret that.

I found that making an impact on the lives of thousands of people through my 5 club Presidencies was more meaningful and fun to me than traditional socializing. I still socialized within extracurricular activities – with my team members.

Extracurricular activities gave me some of the most amazing life experiences I’ve had thus far and I’ve met some of my closest friends through there. Absolutely zero regrets.

Think hard on how large you want your success to be, and be ready to sacrifice an amount proportional to it.

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2. EMBRACE FAILURE.

Failure is one of the greatest successes we can have in life:

  • I was rejected over 100 times for my first non-actuarial internship.
  • I’ve struck out at networking sessions more times than I can count.
  • I was rejected by EY actuarial at the interview stage in my junior year.

Look – failures are not failures UNLESS we don’t learn from them. Avoiding failure usually leads to engaging only in low-risk endeavors (low risk of failure), which are guaranteed to be outperformed by high-risk endeavors in the long-term.

The most successful people I’ve seen are the ones who keep on aiming high and, when they inevitably fail, they learn what went wrong and try again, 5 times harder.

I’ve learned from every one of my failures. They are the main reason why I got to where I am today.

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3. WHAT IS YOUR WHY?

How do you get back up when life knocks you down? Easy. You need to know what your WHY is.

You need to ask yourself what drives you!!! Do you want to make your parents proud? Do you have something you want to prove?

You need to seriously think about why you are doing what you’re doing.

We don’t get to choose when we get knocked down in life. But we sure do have the choice of getting back up or not.

When life knocks me down, I choose to get back up every single time. No matter how much it hurts. No matter how difficult it is.

Why? I get back up because my WHY is that I want to make a true impact in the world. I will grind for my entire life until this goal becomes a reality.

Remember this: life cannot beat what doesn’t give up.

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I want to make it clear that I don’t believe I am a “special” actuary. As long as the passion, ambition, and commitment is there, ANYONE can do what I did, and even more.

Well, I hope that helped! Feel free to connect with me on LinkedIn (I have several popular in-depth articles there on how to achieve success in various areas) and/or Instagram (@actuarial.motivation). I am very active on both platforms, and would love to hear from you there!

All the best in your endeavors!
Carlo Lahura, ACAS

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How I landed my Internship, and How You Can Too!

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Meet Wendy Guerrero, a current senior at DePaul University where she serves as Treasurer of the Actuarial Science Club. In her pursuit for an actuarial internship, Wendy realized that without exam experience, she’d need to come up with a game plan to stand out to prospective employers. Read along to find out how she landed an internship; her advice and experience could help you pursue your career goals too!

1. Wendy, as someone who was able to secure an internship, without having any actuarial exams under your belt, what were some of the ways you made yourself stand out as a candidate?

I attended multiple company “Recruitment Days,” in which you go in and tour the company and learn about the different careers available. I made sure to do my research and share my point of view on topics that interested me throughout these events. I had multiple resume copies ready, and every time I introduced myself I made sure to have an elevator speech ready.

2. What were some of the challenges you faced and how did you approach, or get through, the obstacles?

Well, the biggest challenge has been the exams. I changed my major at the start of my junior year and hence was very behind on exams. To combat this obstacle, I made sure to share how I was a strong candidate in other areas. I worked with the writing center at my university to improve my resume and get it in top shape. I practiced mock interviews with my mentor, as well as friends and family. I was also honest in the interview about my exams and I made sure to talk about my most relevant job experience and transferable skills to the position.  I put in many hours of research and networking, going to events and getting coffee with people, and submerging myself into the company. These steps paid off, and when it came time to interview, everything came naturally to me. Also, I think that my passion for mathematics was a key fact that people took away from my interview, along with the positive attitude that I presented throughout the long interview process.

Another challenge was that I was told that the company was primarily looking for interns outside of the Chicago area, and I live in Chicago. I did not let this criteria discourage me, and decided to be bold and still apply. Once again, if you put in the time and effort to have a strong application and resume, and you take advantage of available networking opportunities, there might be a hiring manager who is willing to overlook certain criteria.

3. What type of advice would you share for students who are looking to land an internship, or advance themselves on the track of becoming an actuary?

I would say to start off small. I started as a data analyst for a small company the summer prior to my internship, and that was the key experience that let employers know that I was serious about making my way to an Actuarial Analyst. I would also say to not disqualify yourself. By this I mean, do not give up on the opportunity without trying first. Although I did not meet the requirements for the internship, I made sure to network and show my interest for the position by attending company events and a job shadowing. If you are serious about landing that internship or even being an actuary, you have to put in the work and show your employer that you are either studying or sitting for an exam. The first couple of exams demonstrate how hard you are willing to work and that you are dedicated to the actuarial career path. So even though you might not have taken an exam yet, be serious about taking one soon. Lastly, do not be afraid to reach out to the hiring manager or people within the company to start networking and MAKE SURE to write thank you emails after every encounter.

4. What have been some of the most helpful resources throughout your journey so far?

Some of the most helpful resources have been provided through my America Needs You Fellowship and my Youtube inspiration, GaryVee. My fellowship allowed me to participate in workshops on interview skills, resume building, how to build my skills for the career path that I want, and how to have a growth mindset. I also had a mentor who was there for me, giving me advice and donating his time to me. Gary Vaynerchuck is a huge inspiration on how to approach situations when the odds are against you, and honestly his videos are a reminder of where I want to be and what work I need to put in to get there.

5. Is there anything else you would like to share about your experience, or any other advice you would give your fellow peers?

The last piece of advice I would give is that wherever you are in your internship or job search, we all have a different path and a different time of getting to where we want to be, so just be patient and work hard in the process. Maybe you are like me, looking for a job for after graduation while sitting for my first exam in December, and you have no idea what will come out of it, but continuing to work hard and surrounding yourself with people that are positive and taking advantage of every opportunity is the way to go. I was once told: if you are the smartest person in the room, you are in the wrong room, go find the right room.

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How the Organization of Latino Actuaries Supports Students

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17%. 9%. 2%. These numbers, often cited by Organization of Latino Actuaries (OLA) President Alejandro Ortega, represent the percent of the US population who are Latino, the percent of STEM graduates who are Latino, and the percent of newly credentialed actuaries who are Latino, respectively. Clearly, the actuarial profession has a representation problem, and OLA, which was founded in 2017, was created, in part, to fix it.

The numbers indicate that the actuarial profession lacks a pipeline of Latino students. OLA’s approach to tackling this problem is three-fold: provide practical advice to Latino students who are actively pursuing the profession, offer resources to connect Latinos with actuaries and actuarial recruiters, and promote the profession to Latino high school students.

A contributing factor to the low number of Latino newly credentialed actuaries could be an unawareness of the “road map” one must follow to land an entry-level actuarial position: maintain a high GPA, pass an exam or two, and have an actuarial internship. OLA volunteers have advised students to take exams early and to apply for actuarial internships. Not only do volunteers provide advice and mentorship, but also they edit resumes, conduct mock interviews, and help Latino applicants expand their professional network. In other words, OLA gives Latinos the tools to land the interviews that so many actuarial hopefuls covet.

In this modern actuarial landscape, having a great resume is often not enough. Some employers receive hundreds of applications for a small number of spots. With these odds, networking for an actuarial position is almost mandatory. The population that OLA supports, however, does not typically have access to this type professional network. OLA helps bridge this gap by connecting Latinos to actuarial professionals via travel scholarships. Specifically, OLA sponsors students to attend CAS and SOA meetings as well as the Association of Latino Professionals For America (ALPFA) convention.

This past August, OLA, with help from Northwestern Mutual, sponsored seven students and a recent graduate to attend the ALPFA convention in Las Vegas, NV. OLA members networked with representatives from various insurance companies, including attending a mixer hosted by Northwestern Mutual, interviewed for actuarial positions, and in some cases left convention with an internship offer.  Not only does the ALPFA convention give Latinos access to recruiters early in the recruiting cycle, but also it provides them the opportunity to land an internship before the school year even starts.  OLA is incredibly proud of the actuarial students who attended and hopes to sponsor even more Latinos to attend next year’s convention in Nashville, TN.

With these efforts, the representation of Latinos in the actuarial profession is sure to improve.

To learn more about OLA and/or to connect with a Latino actuary, please email LatinoActuaries@gmail.com.

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You’re Invited: CAS Student Programs Overview!

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What is one of the many perks about being a CAS Student Central Member?

Access to exclusive student programs held at CAS meetings and seminars! These one-day programs are offered at no cost throughout the year, and attendance is limited to Student Central members.

Why attend a CAS Student Program? They provide the opportunity to network with property and casualty actuaries, learn about the latest trends in the P&C actuarial industry, and listen to what CAS members have to say about being an actuary! They also include career development activities like mock interviews, resume reviews, speed networking, career panels, and professional headshots.

Attendance at CAS Student Programs will stand out on your resume, and provide you with talking points during your next interview with a P&C employer. We’ve even had Student Central members report that connections they made at our programs have directly led to job interviews, internships, and full-time jobs!

Read along below for a brief background on the student programs we host annually!

Across all CAS Student Programs you will find the following elements:

  • Student-specific sessions including: “An Introduction to the CAS and Property and Casualty” and “An Introduction to Reserving/Reinsurance/Ratemaking/Predictive Modeling,” the specific introductory topic depends on the focus of that seminar.
  •  Concurrent sessions on P&C industry topics presented within the larger CAS meeting or seminar.
  • CAS Mentors who help students navigate the seminar as they network and attend sessions together.
  • Career development sessions and activities

Casualty Loss Reserve Seminar (CLRS) Student Program

The Casualty Loss Reserve Seminar is centered on the discussion of relevant issues in loss reserving. The seminar provides insightful information over a range of topics to educate students in a number of related disciplines. Traditionally, loss reserving has been one of the two core actuarial functions, and the skills involved allow for the evaluation of an insurer’s financial health and solvency.

Ratemaking, Product, and Modeling Seminar (RPM) Student Program

The Ratemaking, Product, and Modeling Seminar student program offers a full day of activity that covers everything from an introduction to ratemaking concepts, to the applications of those concepts to various types of insurance. Ratemaking is the other core traditional actuarial function, and is concerned with quantifying the level of risk associated with an insured, allowing for the calculation of appropriate insurance rates and premiums.  In addition, the RPM Seminar addresses topics such as predictive analytics, an important and expanding area for actuaries.

Seminar on Reinsurance Student Program

Reinsurance – basically, the “insurance of insurance” – is an interesting area that most actuaries become involved with at some point in their careers. Interested in learning more about actuaries in reinsurance? Then this seminar is for you!

CAS Spring Meeting Student Program

The CAS hosts a student program during the Spring Meeting at which topics covering most any aspect of actuarial science and related risk issues may be presented. Students are invited to attend an entire day of non-stop learning, engaging, and networking!

Want to learn more, or attend a student program? Check the CAS Student Central website news section for updates on how and when to register for one of the events you may be interested in. Registration is currently open for the CLRS Student Program in Anaheim, CA September 6th – learn more.

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Get the Scoop on What Insurance Leaders Have to Say About Their Industry!

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As part of the Insurance Careers Movement, a campaign was released to give college students advice and a variety of perspectives on the value of a career in insurance. As you know, many actuaries end up working for insurance companies, and with that come many advantages and opportunities to make an impact. Insurance leaders from across the globe wrote letters sharing their insights on what the industry can offer you, addressed: #OpenLetterToCollegeGraduates. Read along for some of the highlights from the campaign!

  • Why choose a career in insurance? 

In this letter, Larry G. Mayewski, President and CEO at A.M. Best, explains why right now is an exciting time to join the insurance industry – “Insurance is a purpose driven industry and you can make a positive impact on individuals, businesses, and communities around the world.” In addition, he shares how the use of data analytics and the impact of emerging technology are driving significant change.

  • What makes working in the insurance industry so great?

Watch this video featuring David Bell, President and CEO of ALPS, who believes that through a career in insurance, “you can work in a stable, intellectually challenging industry and pursue the life that you want to build.” Read Sean Kevelighan, Insurance Information Institute CEO’s  letter, which states that “insurers invest in their workers by building corporate cultures that embrace diversity and inclusion, offer outstanding work/life balance, and serve their communities.”

  • Why choose a property and casualty actuarial career in the insurance industry? 

CAS President Brian Brown will tell you! Refer to this letter outlining the benefits of an actuarial career, stating, “From job satisfaction to growth opportunity, hiring outlook to high average pay – actuarial careers provided math-minded individuals with outstanding benefits as well as unparalleled opportunities to grow their skills.” Brian also states that property and casualty actuaries serve a critical role in their companies by providing trusted information that helps ensure that risks are assessed accurately. Additionally, “property and casualty actuaries, in particular, are increasingly in demand in the insurance industry, and beyond.”

  • What’s new with the insurance industry?

President of Valen Analytics, Kristin Marr shares why the insurance industry is one of the hottest tech industries in her letter. According to her, “The overall insurance industry is a trillion dollar annual market, which is more than three times the 2017 revenues of Facebook, Amazon, Netflix and Google combined; and over 10 times the amount of Venture Capital that was invested in tech in 2017.”

  • How does the property and casualty industry play a critical role in our economy and society? 

President and CEO of the Hanover John C. Roche shares that the property and casualty industry employs about 2.3 million professionals and generates more than $500 billion in revenues each year in the U.S. alone. With baby boomers retiring in record numbers, “P&C companies offer an incredible number and range of opportunities… the industry is on a hiring spree, hoping to fill tens of thousands of jobs by 2020.” Read his letter to learn more.

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Get to Know The CAS Institute

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CAS Student Central sat down with Amy Brener, director of The CAS Institute (iCAS), to get responses to some of your frequently asked questions about iCAS and the Certified Specialist in Predictive Analytics (CSPA) credential.

What is The CAS Institute?

The CAS Institute – or iCAS for short – is a subsidiary of the CAS. It was formed in 2015 to provide new specialty credentials for both actuaries and non-actuaries in the insurance industry.

What is the CSPA credential?

“CSPA” stands for Certified Specialist in Predictive Analytics. It’s the first credential being offered by The CAS Institute. The CSPA provides evidence of practical knowledge in applied predictive analytics and data science. Professionals who pursue the CSPA do not need to be actuaries.

How does the CSPA differ from actuarial credentials?

All iCAS credentials, including the CSPA, are designed for any professional seeking recognition in specialized quantitative practice areas related to traditional actuarial work, such as predictive analytics, data science and catastrophe model analytics. The credentials are intended to stand on their own for data analytics professionals, but they also serve as a complement to actuarial training for actuaries working in more technical analytics roles.

iCAS actually recently released a short video that outlines details about the credential, including the story behind its creation and the basic requirements. The video also features interviews with data science professionals talking about the CSPA. Details about the CSPA requirements are available on our website.

Should I, as a university student, consider pursuing and earning an iCAS credential?

iCAS programs are not designed to be “entry-level” credentials. These credentials are designed for experienced professionals already working in specialized quantitative practice areas in the insurance sector or closely related sectors such as banking, risk management and capital markets. Professional experience provides the necessary on-the-job training and applied knowledge required to become credentialed by The CAS Institute. After obtaining experience through an industry position, iCAS credentials can help you stand out in a competitive job market by demonstrating mastery of the technical skills needed for success in a rapidly-changing field. A professional credentialing program provides benefits over graduate programs or boot camps in these complementary specialty areas because you can gain experience applying skills outside the classroom environment, which could include developing practical, real-world examples for your portfolio.

Should actuarial majors pursue iCAS credentials?

Actuarial students are not a target population for iCAS credentials, so I wouldn’t necessarily encourage actuarial majors to pursue iCAS credentials while in school. The credentialed actuary pathway is very specific and rigorous. It requires students to complete actuarial-related coursework and pass actuarial exams while gaining work experience through actuarial internships and training programs. Once you’re in a professional role and credentialed as an actuary, then you’ll get the experience and knowledge you’ll need to earn an iCAS credential.

How should I prepare to become certified by iCAS in data science and predictive analytics?

If you’re studying data science, computer science, statistics, and predictive analytics, you’ll be able to get a job in a specialized quantitative practice area upon graduation. What you’ve learned in school, coupled with on-the-job experience, will help position you to earn iCAS credentials down the road.

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How the Actuarial Profession Matches What Millennials Want

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Do you belong to the millennial generation? If you were born between the years of 1982-2004, you are officially a part of the millennial club! What makes millennials so remarkable? Well, for one, you’ve been part of the generation that has witnessed technology transform – from pagers to cellphones, and in-person meetings to virtual conferences. Your aspirations are built on transformation. And perhaps you may believe in work beyond the day-to-day routine. You specifically look for meaning in your endeavors. Meaning in the workplace, which therefore satisfies your personal desire of growth and fulfilment.

According to Bentley University’s Center for Women and Business, 84% of millennials say that helping to make a positive difference in the world is more important than professional recognition. This also corresponds with Forbes’ number one rule for guiding millennials in the workplace – treat everyone as an individual. Learn the person’s goals. Figure out how best to use the person’s abilities. And coach for career development that reflects the millennial’s individual uniqueness.

For all the reasons above, and more, the actuarial profession is quite appealing to millennials. Because actuaries analyze the risk of cost and uncertainty, they play a vital and imperative role not only in their companies, but in society at large. Their findings make an impact so great, it can mitigate potentially great losses and make a person whole in times of catastrophe. A typical day is usually never the same – actuaries are continuously assessing various models, theories, and concepts. Actuaries also have a great deal of flexibility and work life balance, hence, low stress! No surprise that actuary made it to Business Insider’s list of 32 high-paying jobs for people who don’t like stress.

Let’s not forget making a positive difference – actuaries do just that! With their specific certifications and level of advancement, actuaries are constantly on a mission to prevent mishaps from causing long-lasting harm. And because the role is exclusive to those who complete the standard certification process, only so many individuals are certified to do what they do. Millennials also enjoy having a strong support system, and as an actuary, you are surrounded by a community of individuals who support you and help you advance in your profession – those, who like you, completed the assessments and went through the journey of becoming an actuary.

How can you succeed at becoming an actuary?

  • Stay connected! Use your resources. CAS Student Central was designed for future actuaries to advance to their highest and greatest potential. We support you every step of the way by providing free study tools and resources, to getting you connected with actuaries in your region, schools, or community.
  • Keep yourself up-to-date and in the loop about exam changes and requirements. CAS is constantly updating its website to reflect the most current exam information, including exam dates and registration.
  • Do your research! Now that you know an actuary is a pretty good career choice for millennials/young professionals, examine why it might specifically suit you! Read about actuaries in the news, and learn about their day to day routines, which you can do this through Student Central as well. As a millennial, you can be the actuary of the future!

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Three New Year’s Resolutions for Actuarial Students

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The beginning of a new year is often a time to pause and reflect – in both directions, forward and backward. We look back at the calendar year just completed, and we can’t help but try to recall its major events, assess how good or bad it was, and evaluate its general impact on our lives. Such reflection is a good thing – especially if it encourages us to learn from the past, identifying and responding appropriately to both the good and the bad.

But when it comes to a New Year, mostly we think of resolutions: those plans and promises we make to ourselves regarding the future (e.g., from my personal resolution repertoire: losing weight, getting better organized), and which often last far shorter than originally planned (e.g., again from my personal resolution experience: 24 hours, and ditto).

Despite occasional failures to live up to our plans, the idea of a resolution is a good one, whenever it is made. And so I herein offer three possible resolutions for actuarial science students: three recommendations for habits and behaviors that will help you to better develop your business skills and actuarial persona. And these are non-technical resolutions. In our actuarial world, it is easy to let the pursuit of technical skills overwhelm us: taking university courses, preparing for actuarial exams, learning a new programming language. But full and ultimate success in a career is, I believe, at least as dependent upon the softer, or non-technical skills, as it is on the technical. And to have both technical and non-technical skills – that’s a recipe for well-rounded success.

Here are three non-technical resolutions for actuarial science students – resolutions that you can begin implementing now, and continue for the rest of your career.

1. Begin or Enhance Your Networking Efforts: All successful people network. Period. And there is always more networking one can do, limited only by the number of hours in a day, the need for sleep, and other such minutiae of life.

“Networking” is the systematic development and nurturing of relationships to fulfill certain needs or desires. From a career perspective, building such relationships can facilitate knowledge and opportunities, and it is something you should work on daily, throughout your career.  And it is never too early to start.  There are dozens of ways to network; just a few examples:

  • If you read something interesting – e.g., an article, email, or blog post – send a quick message to the author expressing your appreciation and showing interest in the topic.
  • When meeting someone new, consider following up with a brief phone call or email. If relevant and appropriate, ask if they’d be interested in talking further over a cup of coffee, or perhaps grabbing a sandwich for lunch.
  • Keep a list or database of names, contact information, and a few important characteristics about each person.

2.  Become a Career-Long “Student” of Your Industry: Absorb as much information and knowledge of your industry / profession as possible. For actuarial students, right now that may mean learning about actuarial science and risk management in a broad, general sense; you can tailor your information-gathering efforts to your specific career focus (e.g., property / casualty insurance, health risk management, etc.) later, once you have made a decision on where to concentrate your career.

Nowadays, there are numerous “news aggregator” apps that allow you to collect, organize, and read information, by searching news articles and other media based on your selected key words. (Start with “actuary” and “actuarial,” and add other key words as desired.)  Make a daily habit of perusing your aggregated news, reading a few of the links in-depth.  Soon, you’ll have plenty of industry knowledge with which to better understand discussions, see connections between topics, or start your own cocktail party conversations.

3. Subscribe To and Read a Newspaper: Sounds trivial, I know. But this is something I always recommend to near- and recent-graduates who will be starting their jobs and careers. Knowing a bit about what’s going on in the world – internationally, nationally, and locally – is an important indicator of your presence and engagement. And, more importantly, it will help you to better appreciate your life and the world around you.

Keep in mind that much of job and career success is a matter of engaging with others in conversation, and being aware of what’s happening in the world that might be notable or relevant to your industry. Small talk at the beginning or end of (or sometimes even during) meetings is not unimportant; demonstrate engagement and enthusiasm at every opportunity.

Best of luck – and Happy New Year!

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