Explore a career in Actuarial Science

What is an actuary? Analyzes, manages and quantifies risk 01 02 Apply probability, statistics and risk theory to financial problems involving future uncertainty 03 Design creative ways to reduce the likelihood of undesirable events

Where actuaries work Insurance Industry Property (home) and casualty (auto) Life and annuities Employee Benefit Industry Retirement benefits Health benefits Social Security Financial Services Industry Banks, investing, risk management Mergers & Acquisitions

Types of actuarial projects Life Insurance: Designing and pricing life insurance products Impact of AIDS on mortality tables Property & Casualty: Estimating the cost of personal auto or homeowners insurance in a particular area. Global Warming Impact Health Benefits: Setting health insurance premium rates. Retirement Systems: Pricing the cost of increasing retirement benefits Look at prevalence and effect of illness on life expectancy Impact of climate change on claims Premiums required to cover health claims Ensuring pension plans are sustainable, especially in a low interest rate environment

Why become an actuary Dynamic and challenging work Exceptional chances for personal growth Highly respected profession Work where you want Demand growing faster than the national average Very strong compensation throughout your career Summary/ if video doesn’t work

A top ranked career Business Insider, 2015: #1- Actuary Forbes, 2013 & 2015: Careercast, 2013: U.S. News Rankings: #4- Actuary

Employer Location Vancouver Toronto Montreal New York Calgary Hartford Chicago Winnipeg Professional designations make you highly mobile & marketable Employed in major business centres like Vancouver, Calgary, Winnipeg, Toronto, Montreal, New York, Chicago and Hartford. The perfect career if you would like to relocate.

Salary Expectations *Can complete while in school/ interning ~5-6 years post grad *Can complete while in school/ interning Can go as fast/ slow as you want. Average time to FSA/ FCAS is 5-6 years post graduation. Many students have 2-5 exams complete entering the work force. If you complete exams while interning with a company, many provide paid study days, a study material allowance, a raise and/or cash bonus

New grads vs other majors

Where in the world? 18% 68% 14% 9% 85% 6% Some countries have their own professional designation, such as the Institute and Faculty of Actuaries in the UK, and the Institute of Actuaries of Australia. The SOA and CAS accreditations the primary designations in Canada and the US. 18% 68% 14% 9% 85% 6%

Do you have what it takes? Strong math background Interpersonal skills Communication skills Business sense -Finance, Economics Analytical skills Computer skills

How to become an actuary FSA/ FCAS Classes Prelim Exams ASA/ ACAS

University of Manitoba Warren Centre of Actuarial Studies and Research Bsc (Hons) Actuarial Mathematics Bsc (Hons) Actuarial Mathematics and Statistics BComm (Hons) Actuarial Mathematics 3 tracks to completing an actuarial sciences degree Science: more math and stats requirements Commerce: More business requirements, exposure to group work and presentations One of only 8 centres of actuarial excellence nationwide (Simon Fraser, UQAM, Waterloo, Toronto, Laval, Western, Concordia)

Asper Direct Admission Criteria High school graduation Five full grade 12 credits in courses designated S, G or U Over three courses (Pre-calculus 40S or Applied Math 40S, plus English 40S, plus one other 40S course) Minimum 60% grade in each Minimum 85% average over the three courses (89% required in 2017)

What to take in your first year ECON 1010 & 1020 Economics STAT 1150 Statistics GMGT 1010, COMP 1010, Written English Requirement . Electives Micro and Macro econ Statistics geared towards actuaries (Statistics and Computing): MINIMUM 70% IN PRE-CALCULUS MATH 1300, 1500 & 1700 Mathematics

Internship Opportunities High paying term positions during fall, winter or summer (typically 4 mths) Experience with actuarial work before graduation Students can relocate for the summer or stay local in Winnipeg. Relocation allowance, paid flights American companies provide a unique summer internship experience as students get to live with other interns and experience life in New York, Boston, Chicago and Hartford. Opportunities for paid housing. Co-op: Costs: $2,686 over 3 terms ($895.46/term) Benefits: 3 credit hours over 3 terms (1/term), equivalent to one class

Internship Opportunities Companies that actively recruit on campus: Great West Life, Wawanesa – Winnipeg Sun Life – Toronto, Waterloo Manulife – Boston, Toronto, Waterloo Aon –Vancouver, Winnipeg Munich Re – Toronto, New York City Towers Watson – Calgary, Toronto, Vancouver Allianz Life – Minneapolis Cigna – Hartford, Philadelphia, Denver and Nashville New York Life – New York City Opportunities to learn about companies, ask questions, meet recruiters Events on campus, and off (employer headquarters, Sheraton hotel) Apply anywhere, more opportunities available at the actuarial students conference in January (funding available!!)

University of Manitoba Actuarial Club 160+ Members spanning two faculties Social events throughout the year Newsletters and emails Technical Skills Workshops Study Sessions Mentorship Program Many social events that are free of charge (bowling, barbecue) Newsletters and emails to keep students informed about events, and developments in the program and the profession Interview workshops: Feedback from employers/ recruiters Technical workshops: Excel, VBA, Access, etc. UMAC Cup: Actuarial case competition sponsored by investors group Study sessions for introductory actuarial classes Library of course textbooks and SOA exam manuals, available free of charge Pair with older students who can provide advice, course and exam support Speed Interviews UMAC Cup Textbook/ Manual Library

For further information email: umac-exec @gmail.com or visit us @ umanitoba.ca/actuary_club Thank You! Questions?