1. Becoming an Actuary

2. Introductions
Patrick Mannion Bonita Graham Thomas Jarrold Evan Roehm

3. Columbian Financial Group
Life Insurance Company for over 100 years.
Headquarters in Binghamton, NY.

4. Structure of CFG Actuarial Department
Lead Actuary
Management Information & Reporting
Pricing and Product Development
Reserving and Reporting
ERM and Financial Planning
Experience Studies
Profitability Assessment
Configuration and admin system support
Pricing
Product research and development
Reinsurance management
Valuation and Corporate financial reporting
Asset Adequacy Analysis
Risk Based Capital
Financial Plan
Variance Analysis
Enterprise Risk Management

5. What is an Actuary?
Business professionals who use their knowledge of probability, statistics, and finance to analyze and manage risk.

6. Areas of practice Corporate Finance and ERM
Quantitative Finance and Investment
Individual Life and Annuities
Retirement Benefits
Group and Health
Property and Casualty

7. What does an Actuary do?
Analyze insurance rates, e.g. cars, homes or life.
Estimate money to be set-aside for claims that have not yet been paid.
Participate in corporate/financial planning, such as mergers and acquisitions.
Price new insurance products.
Forecast the financial impact of catastrophes.
Analyze investment programs.

8. What classes should you take?
Any course designed for preliminary Exams
Validation by Education Experience accepted Classes
MATH 447 – Prob / Stat I (Prerequisite for 448)
MATH 448 – Prob / Stat II +
ECON 160 – Principles of Microeconomics
ECON 162 – Principles of Macroeconomics
ACCT 211 – Financial Accounting
FIN 311 – Financial Management
*After 7/1/2019 you will need to take FIN 311 in combination with one of the following:
FIN 324 – Corporate Finance
FIN 322 – Investments

9. What classes should you take?
Other Classes that will help you along the way
MATH 458 – Time Series analysis
ECON 462 – Information Economics
ECON 467 – Economic Forecasting
CS 105 – Introduction to Computing
CS 110 – Programming Concepts and Applications

10. What classes should you take?
Semester
Math Courses
Other Courses
Take/Prepare for exam* 1
224/225
Econ 160 (VEE) 2
226/227, 304
Econ 162 (VEE) 3
323, 330
Fin 311 (VEE)
FM/2 4
346, 447
Fin 322 or 324 (VEE)
FM/2 & P/1
Summer
P/1 5
329, 448 (VEE), 450
Econ 360 6
452, 455
Econ 362
STAM 7
457, 478 8
454 or 458, 479
IFM, SRM, PA
* There are discounts and reimbursements on SOA exam fees for students and minorities.

11. Path to become an Actuary

12. Exam prep/expectations
Preparation
100 study hours per exam hour
Physical study manuals
Online resources
Exam conditions
Computer Based Testing (CBT)
Prometric test center
Multiple choice exams

13. How to prepare for your first job
Pass Preliminary Exams
One for an Internship
Two for an Entry Level Position
The more the better
Industry is becoming more competitive
Improve your hard and soft skills
Hard Skills – MS Excel and MS Access
Soft Skills – Strong Communication Skills
Network as much as possible
Actuarial club

14. Helpful Links Research and Publications: Academy news: Career advice:
soa.org
Academy news:
actuary.org
Career advice:
beanactuary.com
dwsimpson.com
Study materials & assistance:
actuarialbookstore.com
theinfiniteactuary.com
coachingactuaries.com
Actuarial Groups:
LinkedIn.com
actuarialoutpost.com
goasny.org

15. Questions? Bonita Graham Bonita.Graham@cfglife.com Thomas Jarrold
Evan Roehm