freshmen workshop ucla bruin actuarial society. the career actuarial mathematics is risk analysis ...
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Freshmen Workshop
UCLA Bruin Actuarial Society
The Career Actuarial Mathematics is Risk Analysis
In Insurance How much should an insurance company charge to insure a building
against earthquake damage?
How much insurance should my start-up buy? For what risks should I insure?
In Retirement Does my investment plan afford me enough to live off of?
Will I have money when I’m 65? 80? 100?
Are my employees being adequately prepared for retirement?
Life is uncertain. So actuaries help answer these questions.
The Major
BS Financial Actuarial Mathematics Pre-Major: Math 31A through 33B, PIC 10A, Econ 1, 2 and 11, MGMT 1A
and 1B
Major: 11 courses: Math, Math and more Math
Your First Year Take math every quarter
Start the Econ and MGMT requirements
Get a good start on your GEs But save some for the future; you don’t want all actuarial classes in junior
year!
Speaking from experience: MGMT after ECON 1, ECON 11 after Math 32A & 32B
Minors
Specialization in Computing Seven courses: C++, Java, HTML, Discrete Math
Minor in Accounting Seven courses: Financial & Managerial Accounting, Tax Policy,
Business Law
Actuaries come from all kinds of majors and minors! Stats, Econ, Math/Econ, Applied Math
It’s not the major that makes the actuary…
The Exams The goal of every actuarial student is certification
The bane of every actuarial student’s existence is the exam track
Six Preliminary Exams to Associateship
Let’s focus on the first two exams:
Probability (Exam P) Corresponds to Math 170A and 170B
Many students self-study using practice problems and study guides
Financial Math (Exam FM) Corresponds to Math 172A
Sign up online for Computer-Based Testing (nearest Prometric testing center in Culver City)
All multiple choice
Results (Pass/Fail) on the spot
Our Overlord
The Exams contd.
There is a separate track for the Casualty Actuarial Society
The first few exams, however, are common to both
SOA Exams P and FM correspond to CAS 1 and 2
Exams are often more important than your grades
Study time estimate: 3-4 hours a day for a Quarter/Summer
When you start taking them is up to you
But it’s good to have one or two by the time you start applying for internships
I.e., by the start of Junior year
For Property & Casualty Actuaries
The Firms
Property & Casualty (P&C): Auto and Home Insurance Farmers, State Farm, Nationwide, AAA, etc.
Health Insurance UnitedHealth Care, Anthem, Aetna
Reinsurance Swiss Re, Gen Re, Munich Re
Consulting Mercer, Towers Watson, Buck Consultants at Xerox etc.
Thanks, Obama
The Skills Math Skills
Most internship opportunities ask for 3.0+ and 1 or 2 exams
Computer Skills It’s what sets UCLA students apart from those at other schools
Object-oriented Languages
C++ (PIC 10A), Java, Python, Visual Basic .NET, R
SQL (Database Manipulation Language)
Microsoft Excel
PivotTable
Formulas (IF, VLOOKUP, etc.)
Macros (VBA/Visual Basic for Applications)
The Skills contd.
Professional Skills Solid Résumé
High school stuff is perfectly fine for your first year
Will feature your clubs and organizations, volunteer work, skills, and internships
Look out for BAS résumé workshops and critiques throughout the year!
Interviewing Skills Why do you want to be an actuary?
If you were me, why wouldn’t you hire yourself?
How many footballs can fit in this room?
Your Best Friend (besides caffeine)
How to gain the skills necessary to excel?
BAS. Guidance: Mentorship Mixer at 6:00 pm on Tuesday, October 13th in MS
6627
Technology: Look out for Excel VBA and SQL workshops later in the year.
Résumé Critiques and Mock Interviews: More information in the coming weeks!
And the best part? Community.
The actuarial path is long. But it’s easier with friends.
So talk to each other :)
The Timeline Freshman Year
Attend Career Fair!
Start off with a good GPA (It’s all downhill from here…)
Learn some programming in your free time (SQL, VBA)
Create a résumé and post it to BruinView
Sign up for OCR (On-Campus Recruitment) Orientation at the Career Fair
Develop your communication skills (in COMM class or in a student organization)
Network! These are the people you’ll be with for a long time.
Make a solid LinkedIn profile to present yourself to the world!
Continued Sophomore Year
Attend Career Fair!! Finish up pre-major requirements
Work on interviewing skills
Take Exam P (and possibly FM)
Junior Year
Attend Career Fair!!!! Apply, Apply, Apply
Interview, Interview, Interview
(Hopefully) Accept an internship offer!
Senior Year Graduate!
A freshman getting an internship offer? Probably not.So why should a freshman attend Career Fair?
It’s our main event of the year You’ll get to meet representatives of over 20 firms
Get your questions answered What sets a good candidate apart?
What computer skills are most important in your line of work?
What skills can a freshman be looking to develop?
Pick up brochures and other publications
Contd.
Network. Meet the representatives! They’re actuaries, but also recruiters.
Take one: Ask for business cards
Leave one: Ask to present a résumé
Prepares you for the next few years’ Career Fairs See what the upperclassmen are doing right
And what they are doing wrong
Watch the recruitment process without the pressure that upperclassmen face.
Career Center On Campus Recruitment at UCLA takes place through the Career Center
Located on the 2nd and 3rd floors of the Strathmore Building at Strathmore and Westwood Plaza
On-campus interviews will take place here
BruinView www.career.ucla.edu/BruinView Companies post their job openings to BruinView
Fill out your academic & personal info
Post your résumé
LinkedIn “If you’re not on LinkedIn, you don’t exist” — A Wise Man THE social media site for professionals Build your profile
Current and former jobs
Skills & endorsements
Test scores and courses you’ve taken
Volunteer work
Projects, e.g, Case Competitions
Connect with friends and colleagues Classmates
Fellow BAS members
Recruiters you meet at Career Fair
Fin
Questions?
Like Bruin Actuarial Society on Facebook
Connect with us on LinkedIn