Hi All,
I am in need of career advice.
My background:
Some points are vague to keep anonymity, you can PM me if you are interested.
I have 3 years of North American actuarial experiences. 1 exam away from being qualified. I have been involved in the very technical (building database, data cleaning, quarter end processing etc) aspect of actuarial work and sometimes I feel more like an IT consultant than an actuary - which was fine at first but I am starting to worry that I will get silo'ed; I have seen it happen to some of my colleagues where they always get stuck just building tools. Ideally, I would like to move into pricing and/or capital management where I can see more a big picture of what drive the profitability of the business. I have looked internally for awhile but there aren't any available unless I move to high growth markets (I would be open to Asia). One could argue that, well if I spend more time analyzing and digging data, that should help me understand more the business but I will tell you that doing all the reconciliation (numbers from one system match the other systems) and database (all the mapping work and the data flowed correctly) work don't point me in that direction.
Sometimes I think I should downplay my IT skills so I don't become 'ah xxx can do it, xxx is good with the IT stuff'. I understand for managers it's an easy choice but I would really like to learn more instead of staying on a flat learning curve.
Ultimately, I am not satisfied being in a position where I can't take part in decisions that drive the profitability of the business. I have considered starting my own consultancy that does what I do now but be more specialized in building databases since many companies seem to lack one. I have also considered joining an actual software company where the technical aspect of the work IS the business. AIR and RMS sound pretty interesting to me but I am in life :( and I am in the early stage of my research.
I hope that maybe the more experienced folks here could offer some advice or folks who have been down this road. Just to be clear, since you are all actuaries, I am grateful for the opportunities my company has given me and I think it is a great company. It is just plagued by process and infrastructure inefficiencies so actuaries end up doing IT or data work.
Many thanks in advance and happy new year! :)
I am in need of career advice.
My background:
Some points are vague to keep anonymity, you can PM me if you are interested.
I have 3 years of North American actuarial experiences. 1 exam away from being qualified. I have been involved in the very technical (building database, data cleaning, quarter end processing etc) aspect of actuarial work and sometimes I feel more like an IT consultant than an actuary - which was fine at first but I am starting to worry that I will get silo'ed; I have seen it happen to some of my colleagues where they always get stuck just building tools. Ideally, I would like to move into pricing and/or capital management where I can see more a big picture of what drive the profitability of the business. I have looked internally for awhile but there aren't any available unless I move to high growth markets (I would be open to Asia). One could argue that, well if I spend more time analyzing and digging data, that should help me understand more the business but I will tell you that doing all the reconciliation (numbers from one system match the other systems) and database (all the mapping work and the data flowed correctly) work don't point me in that direction.
Sometimes I think I should downplay my IT skills so I don't become 'ah xxx can do it, xxx is good with the IT stuff'. I understand for managers it's an easy choice but I would really like to learn more instead of staying on a flat learning curve.
Ultimately, I am not satisfied being in a position where I can't take part in decisions that drive the profitability of the business. I have considered starting my own consultancy that does what I do now but be more specialized in building databases since many companies seem to lack one. I have also considered joining an actual software company where the technical aspect of the work IS the business. AIR and RMS sound pretty interesting to me but I am in life :( and I am in the early stage of my research.
I hope that maybe the more experienced folks here could offer some advice or folks who have been down this road. Just to be clear, since you are all actuaries, I am grateful for the opportunities my company has given me and I think it is a great company. It is just plagued by process and infrastructure inefficiencies so actuaries end up doing IT or data work.
Many thanks in advance and happy new year! :)
Career Advice Needed - nearly qualified
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