Mass Meeting Fall 2018

What is an Actuary? SAM Career Resources SAM Social Events

High Level Definition There are risks I want to take There are risks I want to take What are the financial implications today? There is a cost for taking risks Typically, insurance companies or consultants are tasked with answering this question...

Business Questions Actuaries Help Answer How much should auto insurance on a self-driving car cost? Which pharmaceutical drugs should a health insurer cover in their policies? How should a life insurance company adapt to a low-interest rate environment? What kind of executive compensation structure should a consultant recommend to their client?

Why Become an Actuary? Top Ranked Job High Demand & Growth High Salary Work/Life Balance No Graduate School

How Do I Become an Actuary? Major Actuarial Math degree, but can also be other math-related subject Exams Given by SOA or CAS, series of professional exams that culminate in a FSA or FCAS credential Internships Good GPA + Pass Actuarial Exam(s) + Join SAM = Find Internship

Industry Overview Insurance Consulting CAS SOA

SOA Tracks Health Life Retirement

CAS Tracks Property Casualty

Consulting

Additional Skills Business Computer Science Data Science Statistics Economics

Exams and VEEs

Exam Reimbursement Policy Step 1 Be a paid member of SAM Declare actuarial math major Be an enrolled student when exam is taken Be an enrolled student when all materials submitted Step 2 Fill out exam reimbursement form Proof of passing (preliminary or official if preliminary isn’t provided) Receipt of exam purchase Resume Step 3 Case 1 - Pass During School Year: Send materials to Professor Natarajan’s Office (EH 2855) Case 2 - Pass Over Summer: Email materials to Professor Natarajan (rogernat@umich.edu) For Exams: You have 30 days to submit all materials to Professor Natarajan after receiving first proof of pass Preliminary pass = 30 days from date of exam Official pass = 30 days from date of official pass (6-8 weeks after exam date) Timeline For Further Information: https://sam.math.lsa.umich.edu/subsidy-policy/

VEE Reimbursement Policy Step 1 Be a paid member of SAM Declare actuarial math major Take VEE courses at Michigan Be an enrolled student when all materials submitted Step 2 Fill out exam reimbursement form Proof of payment to SOA Resume SOA approval for VEE credit is NOT NEEDED! Step 3 Case 1 - Apply During School Year: Send materials to Professor Natarajan’s Office (EH 2855) Case 2 - Apply Over Summer: Email materials to Professor Natarajan (rogernat@umich.edu) For VEEs: You have 30 days to submit all materials to Professor Natarajan after applying for VEE credit with the SOA Note: Students can only apply for reimbursement after receiving all 3 VEEs or in their final semester of their senior year if all 3 are not achieved Timeline For Further Information: https://sam.math.lsa.umich.edu/subsidy-policy/

What is an Actuary? SAM Career Resources SAM Social Events

Professional Workshops Office / Company Visits What We Do Professional Workshops Actuarial Career Fair! Office / Company Visits Career / Exam Advice

Workshops Schedule 9/11 & 9/12 Resume 9/13 Freshman/Sophomore 9/17 Elevator Pitch Interview International Resume OHs Mock Interviews 9/11 & 9/12 9/13 9/17 9/18 & 9/19 9/20 9/14, 9/20, 9/24, & 9/25 9/20 - 10/3

3rd Annual Actuarial Career Expo 21 Employers (so far) Where: Michigan League When: October 4th, 3-6pm Interview Day: October 5th, 8am-4pm Resume Book closes ONE week before fair

Company Visits 9/21 Auto-Owners 9/26 Willis Towers Watson 9/27 Jackson National Life Blue Cross Blue Shield of Michigan Deloitte Milliman Swiss Re 9/21 9/26 9/27 9/28* 10/3 10/8

More Professional Development Opportunities LinkedIn Workshop A Day in the Life of an Actuary Excel Workshop Speaker Series Course/Exam Planning Workshop SOA/CAS & Consulting/Insurance

What is an Actuary? SAM Career Resources SAM Social Events

SAM Social Events

Underclassmen Engagement

How to Join Membership Dues Name (First, Last) Uniqname UMID# $35 for the year Dues help fund all club activities You won’t be reimbursed for actuarial exams if you don’t pay Payment Methods For BOTH payment methods, please include: Name (First, Last) Uniqname UMID# Venmo Cash or Check Pay to @UmichSAM on Venmo Drop off a sealed envelope to Professor Natarajan’s Office (2855 EH)

Connect with SAM on Social Media! “Student Actuaries at Michigan” www.facebook.com/groups/SAMUM/ “University of Michigan Actuaries” www.linkedin.com/groups/2486220

Visit SAM Website: sam.math.lsa.umich.edu

Freshman/ Sophomore Workshop Upcoming Events Resume Workshop Mass Meeting Freshman/ Sophomore Workshop Office Hours + SAM Mixer GAME DAY!

Questions? Contact Info: Program Director: Professor Natarajan: rogernat@umich.edu President: Nabil Ahmed: nabilah@umich.edu VP: Brad Pineless: pineless@umich.edu Career Chair: Tom Rothwell: tjroth@umich.edu Career Chair: Kristen Miele: knmiele@umich.edu Secretary: Yuan (Vera) Shi: yuanshi@umich.edu Treasurer: Liam Flynn: lhflynn@umich.edu International Liaison: Zhendong Chen: zhendong@umich.edu Social Chair: Erica Dawson: emdawson@umich.edu Webmaster: Nomin Bat-Otgon: baenomin@umich.edu IM Chair: Max Weide: maxweide@umich.edu UC Ambassador: Jiazhen Yang: jiazheny@umich.edu