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?

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