You’re a university student, walking down a sidewalk in your neighborhood, your eyes fixed intently on your smartphone screen.  You move your phone slowly from side to side, surveying the landscape.  “If there’s anything here, I’ll find it,” you think to yourself.

Suddenly, you see something, just ahead and to the left, on the periphery of your screen sensor.  You instinctively shift your direction slightly, and slowly close in on the object.  You switch to virtual camera mode — and there it is, standing over six-feet tall:  a bi-pedal feline.  Right in front of the window of a well-landscaped brick ranch home, just standing there like he owns the place.  Not believing your luck, you blink and then refocus.  Your eyes were not deceiving you.  It is indeed one of the rarest (and strongest) of the Pokémon:  Mewtwo.  You simply must have it!  But before you attempt the capture, you’d like to get much closer…

There are, however, some potential problems.  The home’s yard is fenced in.  On the fence gate is a large sign:  “No Trespassing.  Beware of Dangerous Dog.”  And the Mewtwo appears to be standing in a nicely-manicured flower bed.

Yeah, like any of that is going to keep you from your quarry!

You throw open the unlocked gate and step into the yard, breaking your ankle on a loose cobblestone.  Undaunted, you limp purposefully toward the Mewtwo, trampling several expensive flowers and small ornamental shrubs.  You fling your Pokéball, and score a direct hit – the Mewtwo is yours!  In your ecstasy, you raise your arms in triumph, accidentally letting go of your phone, which flies into and shatters a window on the home.

This awakens the “Dangerous Dog,” a pit bull named Stormy, who jumps out the window at you, trying to defend her turf.  You stagger through the open fence gate and escape out into the street, causing the driver of a passing car to swerve and hit a tree, damaging his car and breaking his wrist. The dog has followed you out the gate and, distracted by all the commotion, locates an easier target, and bites a nearby pedestrian on the sidewalk.

So…

Embedded in this hypothetical scenario are lots of risk and insurance issues.  Let’s start a Student Central dialogue – please respond by commenting and sharing your thoughts on what kinds of insurance policies might cover which damages and injuries.

In a week or two, I’ll come back with a second post, summarizing my own view of some of the scenario’s risk and insurance implications – and perhaps highlighting some of your more perceptive comments!

My name is Derek and I am an actuary. I work at CNA Insurance headquartered in Chicago. I recently took a role in London, England so I live there now. Hello from 4,000 miles away!

Today, I am writing my first blog post with a career tip for you curious future actuaries. Being my first blog, I did some research, and learned Rule Number 1 of Blogging:

Catchy Headlines – simple, powerful, useful, and bold

I hope I chose a good title.

Some of you may already think you know the answer to how coffee can make your career:

“Duh, Derek! Coffee has caffeine!”

Sure. Coffee and its caffeine content do indeed give you super powers. Heightened awareness. Enhanced focus. Three extra hours of sleep. Flight.

But today isn’t about caffeine.

Today, I’ll be talking about coffee’s most important property – the company it brings.

In my five year career so far, I’m quickly learning the importance of having good mentors to career success.

Mentors

Just what exactly is a mentor? A mentor is someone who acts as an experienced and trusted advisor to you, with vested interest in helping you grow. Examples being Yoda, Mr. Miyagi, or Master Shifu (except not as awesome).

   

You can find one through a formal mentoring pairing program at work, or an informal connection you keep in touch with such as past managers, or even from people outside your company or profession.

Typically, you meet with your mentor to catch-up every so often. Once a month is probably typical.

A Story of Why Mentors Rock

I’ll start with a true story starring me.

???? 9:00 a.m. – I get to work. Just a normal day so far. All’s gravy.

???? 10:00 a.m. – Something’s not adding up with the Excel pricing model I created. Other people already rely on this model for their work. I investigate further. Let’s not rush to conclusions here.

???? 10:30 a.m. – Uh oh. I found my mistake. Something is definitely wrong. But wait, if it’s immaterial, then this might not be a big deal! Let’s check!?

???? 11:00 a.m. – IT’S MATERIAL.

???? 12:00 p.m. – I tell my boss the issue. We agree to prioritize getting it fixed and to talk about what happened at the end of the day. I feel TERRIBLE that it is my fault and that it affects other people’s work.

???? 1:00 p.m. – No update. Still feel TERRIBLE.

☕   2:00 p.m. – I grab coffee with my mentor we had already scheduled for that afternoon. My mentor puts the issue into perspective, tells me about times they made their own mistakes, and gives me advice on how to approach my later conversation with my boss. I still feel badly, but considerably less stressed and now more prepared for the meeting later.

 

 

There are days where you will just feel stressed. Maybe it’s exams, maybe you’re about to give a big presentation, maybe you just had a real rough day at work, or maybe it’s something personal outside of work.

The first thing mentors rock for are giving support and encouragement. In the form of advice from their experience, or a sounding board to hear what’s on your mind, or just someone that’s there that has your back. It’s a good feeling.

Opening Doors

When I first started working, I had this impression that your manager is your only means of communication to senior management about your work. This isn’t the case at all.

Having good mentors across the organization doubles as a networking base. There will be times where your manager won’t be able to speak best on your behalf. In this case, a mentor can recommend your work and reference you to others, thus helping give you opportunities and other connections.

Changing managers every couple years is very common in early entry level years, especially in a rotation program. But establishing a good mentoring relationship early and sticking together will provide a constant, no matter where your two careers take you.

Now, that I’ve discussed a few benefits, let’s talk about how to get the most out of your mentoring.

Building a Good Relationship

Play me: https://www.youtube.com/watch?v=HuGIgf-ICHM

One of my favourite scenes from The Office is when Michael Scott (Steve Carrell, Agent Michael Scarn) having faced recent financial issues, declares bankruptcy to the office, and shows shortcuts don’t exist.

Nothing’s ever quite that easy, is it? How much you get out of your mentoring relationships depends on how much effort you put into it.  Here are some helpful tips to get the most out of mentor meetings:

1. Be prepared with topics to discuss
2. Consider your meetings as a priority
3. Be authentic and show your personality
4. Build trust and open up
5. Have fun

Final Mentor Perk

I asked colleagues at CNA if anyone had any mentoring experiences to share. I was happy to connect with Tim Fleming, our VP of Specialty Reserving on his experiences. He wrote:

I first met with my mentor right after I got my FCAS and well before I took on any leadership role. The relationship I have had with this individual has evolved over the 8+ years since then as we have both grown our careers. Now I am proud to call my mentor a friend, a colleague, and in a new chapter of our working relationship I call him boss (ok, I don’t really call him boss, but he is my direct supervisor). I know that the support I have received from this relationship has been critical to my success so far and will continue to be for the next 8+ years and hopefully many more.

I really like Tim’s story. He met his mentor early in his career at CNA, over 8+ years ago. And since then, he and his mentor have both found success moving up through the company into more senior leadership positions.

But, what I like most about his story?

He sought and found a career mentor, but also found a friend. And that’s pretty cool.

????

Please Like, Comment, or Share. Let me know your thoughts!

A year ago I was an international student studying at the University of Toronto. I am from China, and I decided to pursue my dream of becoming an actuary in Canada six years ago. There are lots of exciting opportunities there, but as I embarked on my job search, I realized that there were cultural and language gaps that presented unique challenges for international students searching for actuarial jobs in either the United States or Canada.

I learned from firsthand experience that there are steps you can take to help bridge these gaps and improve your chances of obtaining a job offer. By the time I graduated, I was able to successfully land my dream job as an Actuarial Analyst at Economical Insurance. Below are some tips that I found to be helpful to find an entry-level position, particularly as an international student:

1. Perfect Your Resume and Cover Letter

Having an outstanding resume will expedite the process of finding a job. Address all your strengths on your resume, putting special emphasis on your English skills, but try to keep everything within one page. Before you submit your resume, have someone conduct a thorough review. I recommend utilizing your university career center, or asking a friend or mentor to review your resume and make sure there are no grammatical mistakes. If you are applying for a specific position with a company, attaching a cover letter along with your resume will also help address your interests and qualifications.

2. Take Advantage of Every Networking Opportunity

Attend as many actuarial-related events or workshops as you can, especially the informational sessions. Dress properly, do your research and prepare some questions before entering the venue. This may give you more of a chance to communicate and impress potential employers. Don’t be shy, try to talk to every industry professional that attends the event. This is a perfect opportunity to get to know different companies.

3. Follow up with Employer Contacts

This tip goes for any student seeking a job, international or otherwise. Whether you are interviewing or networking, don’t forget to ask for each contact’s email address or business card. After the meeting, follow up within 24 hours by sending an email. The email body doesn’t have to be long, but make sure that it is well-written and emphasizes the key points that were brought up during your conversation. If you get a response from them, respond and keep the conversation going. Their response might be the signal of a good start! Catch the opportunity and rock it!

4. Familiarize Yourself With Your Country’s Immigration Regulations

In addition to the traditional challenges of finding a job after graduation, international students also have deal with navigating immigration laws. The best advice I can give you is to do your research and familiarize yourself with the process. I recommend visiting your country’s immigration website for guidance in this area since the process to obtain a work permit varies by country and individual situation.

The CAS University Engagement Committee contacted Ezra Penland Actuarial Recruitment, and invited them to write a blog post to provide you with information and tips to help you with your search for an actuarial position. We thank Ezra Penland’s Matthew Optiz, Actuarial Recruiter and Margi Patel, Actuarial Recruiter, for writing this post to share with members of CAS Student Central.  

Ezra Penland recruiters review a variety of resumes ranging from someone who is looking to get into the actuarial field to seasoned veterans with decades of experience. With our own experience and feedback from hiring managers, we have learned to recognize what makes a resume stand out in a large pile.

RESUME DOS

Contact Information 

Starting simply, every resume should have your contact information at the very top! This includes your full name, your address, best phone number at which to reach you, and a professional sounding email address you check consistently.

Education Details and Exam Status

Your education details and exam status at this point should be first and foremost. This allows hiring managers to understand your commitment to the actuarial field, and that you’ve invested time into this profession.

Relevant Work Experience

Another major heading should be your relevant work experience, which should include any internship experience you have ongoing or completed. It is best to tailor your resumes to the job description to include specific keywords mentioned, preferably with strong examples from your experience.

Technical and Analytical Skills

A resume that stands out includes a section that highlights your technical and analytical skills. Any programming experience with SAS, R, Python, SQL or VBA should be mentioned in this section. You should make sure to include how you utilized these skills in your work experience in bullet format. In the event that you didn’t get to use these in an internship, aim to get a certification or experience in these to bolster your resume, especially with SAS and SQL as they are the most in-demand in the actuarial field.

Order of Importance

There is an order of importance that should be followed. Generally, at the student entry level, your education and exams passed should be at the forefront of the resume. Highlight your strongest section at the top. For example, if you have several internships at prestigious companies then prioritize that section over your technical skills if your experience with programming is limited. Also, make sure to follow chronological order with your most recent position first.

These are some of the basic items to always have in your resume, but equally important, there are some things you should avoid.

RESUME DON’TS

Lengthy Resumes

Ezra Penland sees entry level student resumes that are 2-3 pages long or include information that is not relevant to the position. Keep your resume to one page if it can be helped. For example, there is no need to include your summer job as a barista at Starbucks; rather only include internships in the actuarial or analytics field. 

Objective Statements and Summaries of Qualifications

These are often too general and redundant, so instead consider adding relevant coursework or details of projects for which you used actuarial concepts or programs in your education section.

Unusual Formatting Styles

There are some formatting styles that should always remain consistent for everyone. Always use 9-12 point traditional fonts (Times New Roman, Helvetica, Calibri). It is vital to include proper titles and dates in month and year format. Simple is best. The average resume is reviewed in ten seconds, so use very specific detailed bullet points rather than paragraphs to convey your experience.

Forgetting to Proofread

Resumes are the most vital part of getting a new job because a small error on your resume can lead to being passed over. Be sure to proofread and have others proofread for you. Typos and spelling errors are the biggest red flag for a potential employer.  Make sure you are putting in the best effort to tell your story on paper.

MATTHEW OPTIZ, Actuarial Recruiter 

Matthew is an outgoing and positive recruiter that seeks to develop a lasting rapport with companies and candidates a like. His background in the arts and his love of travel has taken him all over the US as well as the world. He prides himself on making sure all parties involved are happy with the outcome of any placement or job search. Contact Matthew at matthew@ezrapenland.com or (773) 598-4738. 

MARGI PATEL, Actuarial Recruiter

Margi comes from a digital advertising and management background with experience in recruiting for account management and sales. Margi genuinely enjoys connecting a brilliant candidate with a great company so everyone wins! Contact Margi at margi@ezrapenland.com or (773) 598-4752.