Name: Rachael Hibbert

Company: AEGON

Age: 24

Year of joining Actuarial Profession: 2006

Year of joining current company: 2006

Exams passed to date: 6

Why did you choose to become an actuary?

I enjoyed studying maths at university and wanted a challenging career that would build on my degree studies but also allow me to apply this knowledge in a business environment. When I read up on an actuarial career I saw it as a good fit for what I was looking for.

Did you find it hard to adjust to working life when you first started?

It wasn’t too hard for me to adjust as I had been working shifts full time on my gap year but adding in the studying was a bit of an adjustment.

How do you find balancing work and study?

I found it a bit difficult to start with, mainly in figuring out how much additional time was required outside study days, how best to adapt my current study techniques. After the first sitting I feel I had a good grasp of maintaining a good balance.

Do you find you have much free time?

It depends on the time of the year, for a couple of months after exams I think I have more free time but tend to have to work longer hours in work then approaching exams free time becomes a precious commodity.

How relevant are the exams you’ve studied to the job you do? (i.e. Do you apply what you've learned?)

Some of the courses I have studied I have found directly relevant to my job and some less relevant, but other trainees in different roles in my company have found different exams relevant to their job. In studying CT exams relevant to life insurance (ct5 in particular) I gained a better understanding of my job.

How do you find working in the life insurance industry?

From my experience of working in the industry for the past two years, I have found it an interesting area to work in as there are constantly new developments and challenges.

How easy is it to move between departments in your company?

It is fairly easy; there are planned rotations for all trainees ever 1.5-2.5 years which is dependant on business need and whether a preference is stated to move sooner or later.

Which is better, in your opinion? To change roles frequently or to remain in one area where you can build up a strong level of expertise?

As I have not had my first rotation yet it is difficult to comment but I believe that it is useful to change roles on the route to qualifying as it provides an opportunity to gain a breadth of knowledge and apply (and improve) different skills essential to becoming an actuary.

What is expected today from new actuaries?

I believe there is an expectation that they have a thorough understanding of the business area they work and an ability to apply actuarial knowledge and skills, gained from exam knowledge, to their job.

What skills, if any, would you recommend trying to develop before starting work with a company?

The skills required are likely to depend on the role undertaken but may include: communication skills, word-processing/spreadsheet skills and team-working skills.

Give an example of a kind of project you have or are currently working on?

I am currently involved in a project to test an improved version of new business data that is used in actuarial modelling program. This project involves checking iterations of the data for possible flaws, suggesting fixes and then trying to reconcile the financial results obtained from the new data with the results from the old data.

What prospects do you see for actuaries in the future?

Actuaries will always have a prominent role in insurance and pensions but I believe that actuarial skills are likely to be sought after more in general business and investment roles too.