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“ Approximately how long does it take to qualify as an Actuary with Deloitte? ”

Nashe E. asked a question
during the live chat Deloitte 'ON AIR' Chat - London
to Deloitte UK Recruitment Team

11/02/2014
4385
27 Live chat
Good afternoon, approximately how long does it take to qualify as an Actuary with Deloitte?
11/02/2014
Student Recruitment Advisor, Deloitte

Examinations are spread over four stages. Core Technical (eight subjects plus the Business Aware Module), Core Application (three subjects), Specialist Technical (seven subjects) and Specialist Applications (six subjects). Students must pass all subjects in Core stages, two subjects from the Specialist Technical stage and one from the Specialist Applications stage exam and the UK Practice Module. These can be done over a 3 - 6 year period

11/02/2014
Nashe E.

I am currently studying Actuarial Science and expect to get exemptions from CT1 - CT8, if I was to apply on the Graduate scheme how would my work differ from other trainees?
Also if I was to do the MSc Applied Actuarial Science and gain further 5 exemptions what options are open?

11/02/2014
Student Recruitment Advisor, Deloitte

Hi Nashe, when you apply for exemptions your colleagues go to college for those modules and exams while you remain on client work. therefore you will receive responsibility quicker as you will be on clients more than your colleagues

11/02/2014
Nashe E.

1)Will the recruitment process differ?
2) Is it still possible to apply for the summer internship before I start the MSc programme?

11/02/2014
Student Recruitment Advisor, Deloitte

The recruitment process is the same for all applicants to the graduate scheme. Can you confirm which year you are in currently as I'm afraid we no longer have Summer placements for Actuarial for 2014 available

11/02/2014
Nashe E.

I am currently in my third year.

11/02/2014
Student Recruitment Advisor, Deloitte

of a four year course? or final year of a three year course and potentially going on to do a fourth year (Masters)?

11/02/2014
Nashe E.

The final year for a three year course at the University of Kent. I have an offer for the MSc programme starting in September 2014.

11/02/2014
Nashe E.

What responsibilities and projects would a trainee be working on for the Graduate Scheme?

11/02/2014
Student Recruitment Advisor, Deloitte

Ah okay, unfortunately no opportunities within our Summer Scheme available. If you study for your masters, you can apply from the 1st of July 2014 for the 2015 intake. I'm afraid we have already filled all positions for the full time graduate scheme for actuarial for this year as well, so going on to do masters and applying for 2015 scheme would be my advice.

It really depends on which area of Actuarial you go into and which projects and clients you are assigned to but on a very basic level the below should help answer:

•Assessing, quantifying and managing risks
•Developing, testing and applying actuarial models
•Monitoring experience and understanding the business implications
•Assessing future insurance liabilities for setting premiums, understanding profitability, financial reporting and transferring blocks of business
•Advising on the level of capital to hold and capital structure
•Communicating our findings

On a day to day basis you will be working in the office or at the client site to gain an understanding of the processes used by the client. You will develop a range of business skills to combine with the technical knowledge you learn through the actuarial exams and your project work.

11/02/2014
Nashe E.

Thank you very much Claire.
Which areas are more prominent in London?
Which area do you think will give the most insight?

11/02/2014
Student Recruitment Advisor, Deloitte

I believe all areas on Actuarial are as prominent as each other, the area you should choose should be based on the career path you want :)

11/02/2014
Nashe E.

May I please have more information on General Insurance and any reinsurance work?
What is the career progression in this area?

11/02/2014
Student Recruitment Advisor, Deloitte

Hi Nashe, please see info below:
A &IS Life Insurance
In our Life Insurance department, you’ll be collaborating with our clients and redefining how risk is quantified, costs are contained, and profit is realised in the life insurance industry.

Increasing regulatory requirements to treat customers fairly has been a significant issue affecting Life Insurance work. Further, the rapid growth of the bulk purchase annuity market and advancements in capital management techniques and modelling capabilities have ensured that the scope of Life Insurance work continues to grow.

You can expect to be involved in a wide variety of assignments, ranging from:

•Asset liability modelling
•Product design and profit testing
•Capital management and reserving
•Finance Transformation
•Stochastic modelling
•Mergers & Acquisitions
Our Life Insurance team also works very closely with the Capital Markets Group sub-team, who develop sophisticated mathematical techniques and industry leading applications of financial theory for our clients.

We recruit graduates to become Life Insurance actuarial students in our London and Edinburgh offices. There is also scope to be seconded out to our offices in Europe and round the world.
I'm afraid there are no actuarial experts on the chat but if you are happy to pass me your email address ill get a 'buddy' for you from the business. for you and attached is the link to the pages of the website detailing info aswell: mycareer.deloitte.com/uk/en/university/g… 

11/02/2014
Nashe E.

Thank you, that would be fantastic!
Thank you very much Claire and Kate, it was a pleasure.

11/02/2014
Student Recruitment Advisor, Deloitte

our pleasure Nashe, anything else we can help with?

11/02/2014
Nashe E.

for a the application would I be required to do a case study/ group exercise?

11/02/2014
Student Recruitment Advisor, Deloitte

No group or case study at any point in the application and selection process for Actuarial. the online E-Tray is a business scenario which you could refer to a case study

11/02/2014
Nashe E.

What is the success rate for the E-tray?

11/02/2014
Student Recruitment Advisor, Deloitte

about 60% but you MUST practice and research and do all the reading in advance to ensure you give yourself the best possible opportunity to get through

11/02/2014
Nashe E.

What materials would you advice to use for the research and practice? I can't seem to find the relevant thread.

11/02/2014
Associate, Global Employment Tax, Deloitte

From what I remember, if you are invited to an e-tray assessment they will give you all the information you need beforehand

11/02/2014
Student Recruitment Advisor, Deloitte

see here: mycareer.deloitte.com/uk/en/university/a…  :)
under the e-tray bit (stage one)

11/02/2014
Nashe E.

I really do appreciate all the information and the time you have taken to answer all our questions.
Would it be possible to contact any one of you or anyone in the actuarial service line in the future?

11/02/2014
Student Recruitment Advisor, Deloitte

Hi Nashe, I'll be getting a buddy for you who will be in contact in about a week on the email address you provided me

11/02/2014
Nashe E.

Thank you very much! You all have a lovely evening :)

11/02/2014
Student Recruitment Advisor, Deloitte

you as well :)

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