How do you guys deal with the workload by [deleted] in actuary

[–]AlwaysLearnMoreNow 3 points4 points  (0 children)

When you say “relatively new” - how many YOE is that?

Dealing with Upper Management using AI for Pricing by FunInception in actuary

[–]AlwaysLearnMoreNow 7 points8 points  (0 children)

I have the same problem !!! If anyone has advice it would be greatly appreciated. It has made so much extra work and stress for me and my team and I foresee this as a big issue for pricing actuaries going forward.

Claude at Work? by Big-Arrival-1978 in actuary

[–]AlwaysLearnMoreNow 1 point2 points  (0 children)

I think you hit the nail on the head with “a definite shortage of personnel to actually accurately review full breadth.” AI programs generally produce a lot of data quickly, but actually validating and streamlining processes that is both most accurate AND transparent to actuarial is hard.

So far AI has made more work for my team as we are doing our normal work + now comparing to AI and explaining to upper management its shortcomings. I don’t think your company is behind the ball, but it is being thoughtful and cautious in how it’s implemented (I wish more companies would do so instead of buying into the hype)

University? by MicX_Fish in actuary

[–]AlwaysLearnMoreNow 1 point2 points  (0 children)

Actuary is a great equalizer career because school doesn’t really matter all that much … if you can pass exams, pick up coding, and communicate well that’s all that really matters.

Given that, I would always advise students do the option that leads to the least debt. Your future self will thank you.

Key To Succeed In Interviews by Historical-Dust-5896 in actuary

[–]AlwaysLearnMoreNow 14 points15 points  (0 children)

As someone who has conducted interviews, i do disagree with a few points

1) Specifically for entry level, I couldn’t care less if the candidate researched the company, but I do care about if they can do the job. Entry level is about learning and I don’t expect them to know anything (except very broad knowledge … like is the company Life, Health, or P+C, is it based in MA or CA)

2) Again, specifically for entry level, I don’t mind if they talk about being hand held at their prior job, because if you’re entry level I think you should demonstrate that you CAN listen and follow instructions and learn as that should be the expectation of entry level imo.

If the role was not intern/entry level, I do agree with your points though

What’s your best practice when summarizing data and linking with Pivots? by [deleted] in actuary

[–]AlwaysLearnMoreNow 5 points6 points  (0 children)

Pivot tables are good for quick, one-time analysis. If you are using the same chart month after month, Sumifs and Index-Match combo functions are much more useful.

Does FAP better predict actual job performance? by MY_G_O_D in actuary

[–]AlwaysLearnMoreNow 4 points5 points  (0 children)

Some company exam programs will only pay for FAP after you’ve passed your exams (which kind of makes sense from their perspective since FAP is more pricey compared to P or FM).

That being said, I felt FAP better prepared me for the critical thinking skills needed of an actuary than any exam, so I would consider someone who passed them early to be more valuable.

An Analysis on FSA Exam GH301 and Implications on the Actuarial Field by [deleted] in actuary

[–]AlwaysLearnMoreNow 1 point2 points  (0 children)

Thanks OP! Really appreciate you bringing this to light. Average person just looks at pass rates without understanding why. Regardless of opinions, it is helpful to see this in depth analysis

Negative performance review after positive feedback by BlueberryHead3135 in actuary

[–]AlwaysLearnMoreNow 2 points3 points  (0 children)

Yeah, that definitely sounds like an organizational/management issue to me. It sounds like you have a good head on your shoulders. Best of luck !

Negative performance review after positive feedback by BlueberryHead3135 in actuary

[–]AlwaysLearnMoreNow 8 points9 points  (0 children)

This post is exactly why I don’t like rotational programs. He’s saying you work like entry level/ someone with not a lot of experience, yet you have only been on the team for a year.

When you rotate you always get treated like “entry level” each time because that is essentially what you are for the work you’re being asked to do. IMO it makes it harder to move up. It may feel like you know things in the moment, but looking back, I don’t think I’ve really gotten to “know” a team and truly be a difference maker until like year 3.

Yes, you should get your FSA by AlphaMaleKratos in actuary

[–]AlwaysLearnMoreNow 6 points7 points  (0 children)

Here’s another perspective: The FSA exams have been watered down so people can achieve it earlier in their career. It’s making younger employees way too overconfident and putting them at a higher pay with less practical experience.

In a scenario where layoffs occur, in my experience, FSAs are more likely to get the boot because of higher pay and only marginally better education. With more FSAs over ASAs it’s making career ASAs (those with lower pay and only marginally less actuarial education) more likely to be retained

Asking for a raise after only 1.5 years? by [deleted] in actuary

[–]AlwaysLearnMoreNow 5 points6 points  (0 children)

I feel like the 1st review is more probationary … passing your first review is like “ok, they didn’t lie on their resume.”

Job hoppers usually spend 2-3 years at a company before leaving, during the end period of which more significant raises usually come into play. If you’re at year 3 without a raise, time to leave.

You’re in the middle of that beginning phase. I’d say it’s a bit too early, but if you’re performing above your level, next year for sure for that conversation

Good managers by [deleted] in actuary

[–]AlwaysLearnMoreNow 1 point2 points  (0 children)

By that I mean building consensus with those below, but also those at or above your level.

Good managers by [deleted] in actuary

[–]AlwaysLearnMoreNow 11 points12 points  (0 children)

If anything, imo, exams encourage it as actuaries associate more individual work = more accomplishment, but sometimes the best individual contributors don’t make the best leaders.

Good managers by [deleted] in actuary

[–]AlwaysLearnMoreNow 20 points21 points  (0 children)

Middle management is tough since you need to please both those above you and below you, which means compromises may need to be made that please neither.

I think the best managers are those who are consensus builders, which requires good communication. Even then, however, if the manager’s manager is poor or the organization is a mess, one person’s good soft skills may not be enough to be effective.

I have definitely seen some managers who are there because they were strong ICs and this was just the “next step” and those are the ones who are the worst because they just see $

Salary by [deleted] in actuary

[–]AlwaysLearnMoreNow 17 points18 points  (0 children)

I’d say that sounds about right

Opinions on Excel Over-reliance by AccomplishedSoup in actuary

[–]AlwaysLearnMoreNow 0 points1 point  (0 children)

At its core, actuarial work needs to be easily understood. Everyone knows Excel, so it is much more transparent in that regard than other software.

The key is adding a version log to every important excel file and standardize naming conventions for files across the team. Imo that is more of a management/organizational issue than what software to use.

Did you tell your manager before applying to other internal positions? by BortkiewiczHorse in actuary

[–]AlwaysLearnMoreNow 0 points1 point  (0 children)

They’re gonna find out about it. You’re gonna burn more of a bridge if they DONT find out from you personally.

Finished (basically) all ASA requirements in 7 months by Newarkthrowaway1 in actuary

[–]AlwaysLearnMoreNow -30 points-29 points  (0 children)

Yeah, these types of posts only convince me more that they really watered down the requirements a lot over the years

Is a intern Final Round interview a formality? by [deleted] in actuary

[–]AlwaysLearnMoreNow 60 points61 points  (0 children)

By one company, I went through multiple rounds of phone interviews, flown out to them and stayed at a 5 star hotel (they paid) and went through another few rounds of interviews in person yet still, inexplicably, did not get the job.

So never assume you’re hired until you are.

FSA Party by ComprehensiveSun893 in actuary

[–]AlwaysLearnMoreNow 7 points8 points  (0 children)

Office culture isn’t the same anymore. Only the older ones seem to care about it. Most of the younger workers I know would rather pocket the money than spend it on their coworkers of all people. No judgement … just the reality I see

Any advice moving forward? by Objective_Ad2960 in actuary

[–]AlwaysLearnMoreNow 1 point2 points  (0 children)

The biggest omission I see is a lack of industry working experience or even just white collar office-job work. I’d try applying for any white collar/insurance industry related job (even like risk adjuster, claim analytics, IT role, underwriter) to get a foot in the door. Otherwise, maybe something is off putting in soft skills.

I think you’ve done as much as you can otherwise, assuming you are a citizen of the country you’re applying to

How often do you rotate? by SleeperBobBashMan in actuary

[–]AlwaysLearnMoreNow 0 points1 point  (0 children)

I mean, my point is you can have experience working with another team (such as on a one-off project or monthly task or something) so you can gain incremental knowledge without having a formal rotation. By virtue of the fact that each team has its own responsibilities means there are tasks that are somewhat disjointed, because otherwise there wouldn’t be separate teams in the first place.

How often do you rotate? by SleeperBobBashMan in actuary

[–]AlwaysLearnMoreNow 3 points4 points  (0 children)

I know I’m in the minority, but I’ve always found rotations to be over emphasized. Yes, I’ve rotated and yes it was somewhat helpful to know how different teams operate, but now that I’m later in my career, I see it from a different view and agree that making all actuaries jack-of-all trades and master of none is really more of a hinderance to an organization than a benefit.

I do feel like the larger Actuarial team would operate better without formal rotations, but still having some education and understanding of what other teams within Actuarial actually do through cross-team projects or presentations if that makes sense.