If you’re an experienced actuary contemplating a mid-career move, the vast array of opportunities in the job market can be overwhelming. Deciding between consultancy, insurance companies, the public sector or wider fields can be a tough choice. In this article, Rachel Mulleady, an experienced actuarial recruiter at Isio, will guide you through the process of applying for an experienced actuarial role.

When and How to Apply

Experienced actuarial roles will open periodically throughout the year. Stay informed and make sure you don’t miss out on great opportunities. Here’s how you can navigate the process.

Be Curious

Curiosity opens us to new ideas, ways of working and diverse perspectives. Use LinkedIn, professional institute websites and platforms like the Actuarial Careers job board to research companies and their cultures. Question if those companies demonstrate what is of most value to you, be that training and development opportunities, variety of work, cultural diversity, wellness support or work style.

Be Organised

Identify and connect with key recruitment contacts in the companies that interest you the most. Monitor the careers pages of your preferred companies, set up job alerts, and join talent communities for email notifications about new job postings as soon as they open.

Build Your Network of trusted individuals

I use LinkedIn to connect with actuarial professionals at many stages of their career, and not just with those who are actively seeking new opportunities. Industry specific recruiters can give valuable insight to upcoming opportunities and will take time to build working relationships and provide insights for their connections’ future careers.

Reach out to other actuaries working at companies of interest

Get their perspective. Isio is a people business, for example, many Isio colleagues take proactive roles in recruitment in their region and will welcome the opportunity to connect, learn from and network with others in the industry. A new connection today can be an even more valuable connection for the future.

Time to apply

Once you’ve found a role you like, it’s time to apply. This is where having a clear conviction can really help.

Your CV should not be more complicated than it needs to be. Reflect your qualifications, experiences, and skills relevant to the role you are applying for. The profession is built on integrity and excellence and your CV is the tool hiring managers will use to establish if you meet the minimum criteria required, so be truthful and concise.

Your CV

1. Create a Profile: A brief yet important statement highlighting your current role, career goals and how they align with the role and company you are apply for.
2. Customise your CV: Emphasise relevant skills and experiences in line with the job description. Address the specific requirements while also showcasing other aspects of your experience that might present transferrable skills.
3. Make each application count: Take the time to demonstrate that you have considered each company’s values and taken on board the requirements of each role specifically.
4. Education and Actuarial exams: List your degrees, institutions, graduation dates, and details of actuarial exams passed or pending, often essential to assess suitability for specific actuarial roles.
5. Work Experience: Focus on achievements and responsibilities that demonstrate your hands on experience, as well as analytical and problem-solving skills. Yes, actuarial roles are often highly technical, but communication skills can be vital to.
6. Technical Skills: Highlight your proficiency in software tools such as Excel, programming languages, and actuarial software relevant to your industry.
7. Extracurricular Activities: Include any relevant clubs, societies, or volunteer work that demonstrates teamwork and leadership skills but more importantly reflect your values and beliefs.

Interview

Expect a competitive interview process, often kicked off with an introductory call to ensure expectations are aligned from both parties. Then expect the process to be conducted swiftly due to the fast-moving nature of the actuarial market. On average, 2-3 interviews are standard at mid-career level, with a mix of in-person, online, formal and informal stages which may include:

1. Technical stage: Be prepared to solve actuarial problems or discuss specific technical concepts relevant to the role. Or a short presentation if the role is client facing.
2. Competency-based: Expect questions about your experiences, motivations, and how you handle challenges. Use the STAR (Situation, Task, Action, Result) method to structure your responses.
3. Informal stage: A chance to ask questions informally, take a tour of the office, meet some peers for lunch/coffee.

Additional Interview Tips:

1. Prior to the interview make sure you have researched the company and the role and double check you have all the details for the day.
2. Don’t rush the interview process, this is your chance to see inside a company that you intend to spend years to come with.
3. Ensure if you need any reasonable adjustments that you have these in place.

Testing

Experienced hire roles may involve aptitude tests or case studies, although these are more common for entry-level positions. While test results may not be definitive, they can provide talking points during interviews.

In Conclusion

Applying for a new actuarial role offers exciting career advancement opportunities and new challenges to explore other working cultures and environments. To make the most informed decision and increase your chances of success:

• Stay informed about job vacancies.
• Tailor your CV for each role.
• Showcase your passion and alignment with the company’s culture.
• Stay curious and keep building your network.

Now that you have an understanding of the application process, search for your next experience role here.

Good luck with your application and feel free connect with me on LinkedIn!