Case studies : Actuarial analyst at Barnett Waddingham LLP: Kate

Kate was in her final year of a mathematics degree when she decided she wanted to be an actuary. She is currently doing her exams to become qualified while working as an actuarial analyst.

It was in my final year of university that I decided I wanted to become an actuary. I saw a careers adviser who was supposed to discuss a range of employment options but an actuarial career was the first one they mentioned and I realised straight away that was what I wanted to do.

I mainly work in reserving in the general insurance sector, which is part of the Insurance Consulting Practice. This involves estimating insurance or reinsurance companies’ reserves (including captives) and understanding any significant differences we may have between our and clients’ estimates. This also includes writing reports based on our findings. I am also preparing clients for Solvency II which is to be implemented in 2013.

To be an actuary you have to have good time management and communication skills. I have a lot of contact with clients and gathering necessary data is not always easy when they are busy themselves. But we have deadlines ourselves so it is vital to be able to communicate with the client effectively as otherwise the wrong data could be sent or they misinterpret what is required.

I like the variety within my job but also the responsibility I receive. I work on several different assignments at once which is challenging and also rewarding as I learn so much from each client I work with. I get to write the reports and meet with the clients to discuss our findings which I might not have been able to do if I worked for one of the larger firms.

I have a great study package with my employer which really does help me to keep a balance between studying and also having time to myself. I enjoy playing the piano and going to the gym but I also still manage to make time for my family and friends. With a lot of planning, and organising my time well during my study days, there are rarely any social activities that I miss out on due to my studying. We all need time to ourselves and need a break from all the studying.

Currently I'm very happy where I am and have no specific plans as I get to experience my team growing and expanding. It keeps me very busy and means I also get to help recruit and train new graduates. I do not think there are any other firms that I could work for that would expose me to this type of work. The only plan I have right now is to try and pass all my exams and to qualify as soon as possible!

I would advise anyone considering becoming an actuary to research the profession before making any firm decisions about your career choice. It can be a bit overwhelming to have to work and study at the same time and so you would need to be dedicated. Having said that, no employer wants someone without any outside interests so don't be put off with people scaring you with nightmare stories of never having any free time to do what you want to do!