Department of Actuarial Mathematics and Statistics

Careers

 

Career prospects for our students are very good - the main employers being insurance companies, finance houses and consulting firms. There are high rewards available! Many of our graduates fill senior actuarial and managerial posts in the financial services sector all over the world, with some also in the UK Government Statistical Service.

Click on the "play" button on the right to watch interviews with some of our past fourth year students as they talk about the job offers they have already received from a variety of leading companies. They also offer helpful advice about what to do to secure such positions, including seeking internships.

Recent Actuarial Science Graduates


John Crooks

John Crooks graduated from Heriot-Watt University in July 2004 with a 2:1 in Actuarial Science. In July 2008, he completed his professional examinations which he took during his period as an actuarial trainee with Royal & Sun Alliance, one of the world's leading multinational insurance groups.

He says, "I really enjoyed the four years I spent at Heriot-Watt and feel that I now have a distinct advantage over other trainees because I studied there. The material I covered was very relevant and is helping me a lot with the work that I’m now doing in my job. You need to be dedicated and prepared to work hard to qualify as an actuary. I think that Heriot-Watt really helped instil this attitude in its students to give them a good chance of success"

John adds "During my time on the course, the staff were always very helpful, approachable and welcoming. If ever I had any problems with the material, they were just an email away and were also happy to help any time I visited them in their offices. The experiences that many of them have had in the actuarial profession mean that they are very qualified for what they do and that they are able to identify the main things that give students problems"

When John first started with Royal and Sun Alliance, he worked in the personal lines underwriting department. Straight away he was responsible for some of the account analysis and reporting his team had to provide - he produced the monthly report on the key performance indicators for the company's motor rescue book.

Where John works

In October 2005, he took up a role in the actuarial pricing team and one year later moved to a new role in the MORE TH>N motor pricing department which he held throughout 2007. He was responsible for dynamic pricing, which involved building GLMs to estimate the lapse propensity of the company's portfolio. John goes on to tell us, "In early 2008, I became a member of the RSA Platinum Club - the Managing Director was very complimentary of my work and I won a free first class holiday to Marrakech! At the same time, I moved to the Group Actuarial team to do capital modelling. This involves building stochastic models of our entire business and using these models to do tasks such as perform our Individual Capital Assessment, which the FSA use to monitor our solvency. It's a really interesting job and I'm thoroughly enjoying learning lots of new actuarial work. In 2007 I passed CA2, ST2 and ST3 so I only had SA3 left this year. I got some great news in July - I qualified in the April exam sitting. What a relief !"


Jessie Wilson graduated from Heriot-Watt University in July 2006 with a First Class Honours in Actuarial Science. She now works as an Actuarial Analyst at HSBC in Edinburgh.

Jessie Wilson
Why did you choose Actuarial Science? I chose this course because I was considering a career in finance, in particular actuarial work, but I wasn't entirely sure of what I wanted to do. I liked the fact that the course presents a broad overview of finance and economics as well as specialising in actuarial work.
What were your favourite aspects of the course? I was given the opportunity to study abroad. I spent my third year at the University of Waterloo, Canada, allowing me to experience living and studying in a different country. More importantly it also gave me the opportunity to travel around North America!

Did it take long to find a job? It didn't take me long to find a job as there was a lot of career guidance from the department. I actually had my job lined up over half a year before I graduated which meant I had the summer free to enjoy myself. The job involves working for a pensions consultancy - currently I carry out a lot of the back office calculations but in the future, once I have more experience, I will be able to meet with the clients as a Consulting Actuary.

Who would you recommend Actuarial Science at Heriot-Watt to and why? I would recommend this to anyone who wants a career in finance. In particular, if you're considering training to become an Actuary as the course gives you an opportunity to gain exemptions from the professional exams.

How are your professional exams going? I gained exemptions from eight professional exams which has saved me about two years of studying! I've now passed my first three exams and one course.

What was the best thing about being a student at Heriot-Watt? The uni itself is a fantastic campus to study at - the surroundings are beautiful!

Careers Links

Standard Life building in Edinburgh

Faculty and Institute of Actuaries Careers Page
Chartered Insurance Institute Careers Page
Securities and Investment Institute Careers Page
Royal Statistical Society Careers Page

Pictured right: One of Edinburgh's thriving business districts.