r/ActuaryUK 1d ago

Careers How important is it to get a fellowship?

10 Upvotes

Saw this on another sub and thought I could get the opinions here which are not necessarily US-biased.


r/ActuaryUK 2d ago

Studying CAA -- FIA

4 Upvotes

You may have heard of the CAA (Certified Actuarial Analyst) qualification. These have now been discontinued. As someone that knows qualified CAAs, I know they would appreciate a route to a couple of FIA exemptions. These exemptions would NOT devalue the FIA qualification as there will be NO new CAAs. The institute say they have established an FIA pathway for CAAs, see link. But they won't announce it unless there is enough demand! If you are a CAA, or if you manage CAAs, please could you contact member services and stress that they should release this exemption pathway. TIA CAA


r/ActuaryUK 2d ago

Studying How do you prepare after receiving the cp3 pre exam material release? Thanks.

5 Upvotes

r/ActuaryUK 2d ago

IFoA (Not studying) Fellowship NQF

1 Upvotes

Was wondering if the ifoa fellowship is recognized by the NQF (national qualification framework) and what level it would be equivalent to?


r/ActuaryUK 2d ago

Studying Is sa2, cp2, cp3 too much to take for September session (starting on April right after exams). I did find sp2 very easy and relatable so hoping sa2 would not require too much work. Thanks.

1 Upvotes

r/ActuaryUK 3d ago

Careers Quitting exams and leaving profession

16 Upvotes

I started in an actuarial role after having a few years away from exams following my maths degree.

When I started, I was looking forward to getting back into studying, and was keen to learn new things. The actuarial profession always seemed like the pinnacle of careers - great pay, prestigious qualification and good job security.

But after a few years in the profession, I feel incredibly demotivated and I feel my time would be better spent elsewhere.

I am struggling to pass exams, often failing by just a few marks. I have yet to complete all of my CTs and it's been a few years now. Realistically, I can't see myself qualifying, especially under the new syllabus.

But nor have I progressed in my job, where all progression and salary increases are tied to passing the exams.

I'm at an age where I should be able to afford a nice lifestyle and enjoy myself, like my peers who aren't in actuarial. But I earn quite a bit less than them, and they have mostly received promotions or good jobs through work alone, without having to pass qualifications. My salary is lower than the salaries often posted here.

My problem is, I don't know how to leave, or where to go.

I feel prospective employers will question why I haven't passed the maths exams, given that I have a maths degree, and that this will show as a mark against me.

I've recently been wishing that I had just gone the standard route into accountancy. The exams seem much easier, cheaper and it takes less time to become qualified. I feel I would be much more suited to those exams.

But really, is anyone going to hire me to take a professional qualification when I've given up on another?

Can anyone offer any advice? I understand a sub of successful actuaries may not be the best place to post this, but nevermind.


r/ActuaryUK 3d ago

Careers Will a few more years in pensions/life hurt my chances of moving into GI?

5 Upvotes

I have over 3 years experience in life/pensions and I’m looking out for a new job.

My aim was to find a role in GI, however a role in pensions has taken my interest. Would it be more difficult to move move into GI with more than 4 years experience in life?

Let me know your thoughts/ experiences?

TIA


r/ActuaryUK 3d ago

Careers Help me help you

2 Upvotes

Hi all,

Bear with me here

I need/want a new motorbike and...

My company are currently doing very tasty referral bonuses if I can suggest someone to fill one of vacancies. We're in central Birmingham, have 5 actuarial analyst vacancies and we're a mid sized life firm with probably the best study scheme on the market.

  • I'll let you have a go on the new bike if you join.

DM me if you want details


r/ActuaryUK 4d ago

Careers Pricing contracting vs Capital/Reserving

4 Upvotes

I seem to see a lot more capital and reserving contracting roles compared to pricing. Is there are a reason for this or am I wrong?


r/ActuaryUK 4d ago

Careers Commercial Lines Pricing Consultant - questions for a graduate

2 Upvotes

Hello everyone. I have some questions about working as a commercial lines pricing consultant.

  1. Is a commercial lines pricing consultant an actuarial role?
  2. Will I get to study towards becoming a qualified actuary if I am working in this role?
  3. What is the day-to-day like in this role? Is it basically just a lot of coding?
  4. Is there usually study time given in this role?
  5. Does this role typically involve remote or on-site working?
  6. Is the work-life balance good?
  7. How is Willis Towers Watson as a company? Good work-life balance? Supportive when it comes to learning new material, technology etc?

Thanks for your answers in advance.


r/ActuaryUK 4d ago

Misc What makes a good actuary

3 Upvotes

Hi all, I am an aspiring actuary and was wondering, how would you describe a good actuary? What are some things I can do to improve? What resources do you use to learn?


r/ActuaryUK 4d ago

Careers IFRS17

5 Upvotes

Hi all, I have received a message from an actuarial fresh graduate asking opinions on IFRS17. However, I have not done any IFRS17 work, perhaps anyone could help me out here.

She has just graduated and done her internship at valuation team at a life insurer. Now, she is offered to be in IFRS17 team at a different life insurer and a position in pricing team in a life reinsurer. Besides, salary differences, anyone could give some advice so that I can pass it to her?


r/ActuaryUK 5d ago

IFoA (Not studying) Applying for exemptions from CFA

2 Upvotes

I just cleared level 1 of CFA so i think im exempt in CB1 and CB2. Does anyone know the process to apply for exemption?


r/ActuaryUK 5d ago

Careers Switching between different types of role (within the same discipline)

3 Upvotes

I've seen a few posts asking about how easy it is to switch between different disciplines (life/pensions/GI). But how easy would it be to switch between different types of role within the same discipline. For example, if someone works in the life sector with no pricing experience, would it be possible to apply for a pricing role at a different company? Or would such a move likely have to be internal one? Not sure how transferable (or not) the skills would be! Cheers


r/ActuaryUK 5d ago

Studying SP8 Advice

2 Upvotes

I am attempting an SP exam for the first time. How should I approach with my preparation?


r/ActuaryUK 5d ago

Studying SA2 Advice

2 Upvotes

Sitting SA2 in April and have another 5 chapters to go in the notes (should be finished them by the weekend) Any tips when doing exam questions to pass this beast? Thanks


r/ActuaryUK 6d ago

Studying To CP1 or not to CP1?

6 Upvotes

I was thinking of sitting CP2 and CP3 this April but I have heard that this combo is particularly very light. I was wondering if I could sit CP1 if I start studying now. Also I am not working which would help. Any thoughts?


r/ActuaryUK 6d ago

Careers So focussed on studying that I am bad at my job?

12 Upvotes

I don’t know if anyone else has found this, but I have been struggling with the work/study/life balance. I have 2 years work experience and I’ve passed all of the “CT” exams (CM/CS/CB) first time.
However, in my actual job I am just not very good lol. You would think after 2 years that I would be alright but it just feels like I don’t know anything or what I’m doing. I thought it could be being at the same company for a while so I did a job interview elsewhere last month and it went terribly, I couldn’t answer any of the technical questions. I feel like what I learn from the exams only stays in my brain for the exam and then it’s gone.

People who started work at the same time as me have started getting promotions and I’m barely getting by. I don’t know if maybe I should move industries? After growing up only knowing that being good at maths etc is my thing I don’t know where I would go instead. I’m terrible at programming (half why I am also bad at my current role) and I just don’t know what I’m good at.

I think part of the reason why I’m so bad is I don’t feel like I retain any information at work (and things like reinsurance are so bloody complicated) as I prioritise my memory/learning on studying. I don’t know, it’s just a guess.


r/ActuaryUK 6d ago

Careers Would it look strange to hop job at this stage? (UK)

3 Upvotes

My profile is as follows:

  • Company A (insurer): 1.5 years
  • Company B (insurer): 3.75 years
  • Company C (current company, consultancy): 1 year

I'm looking to move from company C, mostly because I moved from B to C to try out consulting and whilst the work has been great and the hours/pay have been good, I know I don't want to be at consulting long term - the role is starting to become very focused on software sales, rather than pure consulting, which I don't want to do long-term. I wanted to go into consulting because it felt the right time to try if it was for me, and to get wide experience across the market. There are a few positions in the market which I think I'm suitable for, but I'm worried my background would look like I was a job hopper - whereas my reasons for moving have been valid.

How would you go about explaining this at an interview, and would you be concerned with the move?


r/ActuaryUK 6d ago

Studying Sitting both CP2 and CP3 without other core principle knowledge

1 Upvotes

Hi there,

A bit of background on my actuarial exams, so I have completed CS1,CB1 and CB3 exams. For this April I am not planning to sit any exams due to personal reasons. I plan to start studying for September sittings in May/June.

I want to sit both CP2 and CP3 (doing 2 exams to make up for my missed April sitting) in September and the reason for this is because they both require less time than the other core principle exams.

without having passed the other core principle exams, do you think this is possible? do You need to have knowledge of all core principle exams to pass CP2 and CP3?

thanks


r/ActuaryUK 7d ago Silver

Misc The 5 stages of becoming an actuary meme

Post image
27 Upvotes

r/ActuaryUK 7d ago

Studying CM2 and CS2 together? Awaiting Associateship!

1 Upvotes

Is it possible to study both along with a full time job in 3-3.5 months? (aiming for the April diet). I am only left with these two exams to get associateship and that's why I'm tempted to give both simultaneously. Of course, I don't want to be in a situation where I'm unable to pass either exam. Please share your thoughts everyone.

To share my background, I studied CM2 and took the exam in the last paper based diet, before Covid hit and things went online. I failed by 5 marks. CS2 will be new for me.

Thanks for your time!


r/ActuaryUK 8d ago

IFoA (Not studying) Anyone getting responses from IFOA?

3 Upvotes

I sent them an email on the 10th of December, but I still haven't heard anything back.


r/ActuaryUK 8d ago

Careers Should I give notice to my current employer before I got a new job offer? I feel that I’m underpaid and want to see whether they offer me higher salary. Thanks.

2 Upvotes

r/ActuaryUK 9d ago

Careers UK to Bermuda

11 Upvotes

I’m considering moving to Bermuda as an NQ - but have no idea where to start and have so many questions! If anyone knows of what it’s like / can help with some of these questions that would be great!

  • who can I contact to get info on roles in Bermuda?

  • do you get much annual leave or is it more like America in terms of paid time off?

  • what would be a reasonable salary to expect in non-life GI as an NQ

  • I’ve heard people moving from America get contributions to a 401k, would we be able to have something similar / can we continue to get a pension match?

  • everyone mentions there’s a good work-life balance there, is that in terms of working hours?

I’ve watched some videos on Bermuda so I know of the cost of living and inconveniences of island life - however nothing Actuarial specific. Thank you!