Mass Meeting Winter 2019

What is an Actuary? SAM Career Resources SAM Social Events

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 Job growth at 18% Median Pay is 101k

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 Major: Prof Natarajan will be covering with more details later, see also mass advising slides on SAM webiste Exams: next slide Internships: SAM members have the opportunity to work at many different companies and industries, outlined in following slides Internships Good GPA + Pass Actuarial Exam(s) + Join SAM = Find Internship

Exams and VEEs Reimbursement and study manual rental LTAM is not for CAS

CAS SOA Industry Overview Insurance Consulting SOA is for life, health, and retirement, and CAS is for property and casualty

SOA Tracks Health Life Retirement

CAS Tracks Property Casualty

Consulting

Additional Skills Business Computer Science Data Science Statistics Economics Being an actuary is a unique blend of all of these disciplines

What is an Actuary? SAM Career Resources SAM Social Events Kristen and Tom presenting the rest of the slides

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

Upcoming Schedule 1/18 Excel Workshop SAM Party! 1/24 Humana Speaker Series Basics of Finance International Resume OHs Mock Interviews 1/18 1/24 1/29 9/20 9/14, 9/20, 9/24, & 9/25 9/20 - 10/3 Excel workshop is awesome! Great even if you don’t wanna be an actuary, hosted by Nabil

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

What is an Actuary? SAM Career Resources SAM Social Events I recommend…

Social Events! SAM Party 1/18 Coffee Chats Bowling Paint the Rock Mentorship Program Chill, fun time College casual, at Erica’s house 9/8 nabil made some edits to colors to make things a bit more readable

SAM Board Elections Elections will be held in March Pre-election interviews with Senior Board Members Details will be sent out later Something to keep in mind for committed students Please come vote in elections! Unlike previous years, elections will be earlier this year. We want to make sure that students understand the commitment that they are making to SAM, which is why we are holding interviews before the elections. There will also be a longer training period this year in April.

Dues Reminder 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 dues 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) Mention that they’re paying $35 for a reimbursement of over $200 for exams

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

Pick up a SAM t-shirt if you paid dues!

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