What are the differences you feel between university life and work life?

Regarding independence, work demands more independence because every person has their own job description, so it’s difficult to ask questions. But, regarding the environment, work environment does not differ much from university, as long as we can adapt to it.

What are the actuarial divisions present in the company you work at?

There are three divisions; MCEV, Actuary Price, and FRS. I don’t really know inside out the job descriptions of MCEV dan Actuary Price because I’m in the FRS division at the moment, but more or less, MCEV focuses on the calculations of more specific policies, while Actuary Price’s focal point is more on the price calculations of a new product. FRS focuses on the standard of accountant bookkeeping with the purpose to smoothen the company’s profit pattern. More or less, the routinity of FRS division is to compile data, submit them to the superiors, make monthly reports, and sometimes brain storming.

For actuary positions, there is the chief actuary who handles international actuarial and appointed actuary who handles local actuarial.

Are all actuarial skills learned during university used in the division you are in at the moment?

To see the big picture, actuarial skills, specifically modelling is used. From actuarial skills too, we can generate a simpler formula. Aside from that, Financial Mathematics and Life Insurance Mathematics are highly necessary.

What is the minimum standard a fresh graduate need to achieve to be qualified as an actuary?

Naturally, there’s a minimum standard formed. Right now, the number of actuary candidates are not small anymore, and therefore qualifications are needed for companies to choose their actuaries. This means that an actuary candidate needs to stand out compared to other applicants. One of the things that make you stand out and seen by the company is the number of actuarial certifications obtained. Aside from that, companies also consider work experiences the candidate has.

What are the ups and downs you experience as an actuary?

The downside I feel the most is when the period of data obtained and the superior’s deadline is very short. Even though the deadline is already decided, this might happen because there’s no fixed time when we can obtain the data from other departments. Aside from that, we have annual plannings for the next year, and it is very time consuming.

The upside is that the work enviromnment I’m in is not very competitive, and I have cooperative friends, and so I don’t feel very pressured.