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Actuarial Society Tuesday, September 15, 2009. Your E-board NamePosition Julia Diana

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Presentation on theme: "Actuarial Society Tuesday, September 15, 2009. Your E-board NamePosition Julia Diana"— Presentation transcript:

1 Actuarial Society Tuesday, September 15, 2009

2 Your E-board NamePosition Julia Diana Chris yu.edu Tristan Yvonne LiaoMarketing Director Adjani Hong

3 What is an Actuary? An actuary is someone who manages risk Actuaries are experts in: Evaluating the likelihood of future events Designing creative ways to reduce the likelihood of undesirable events Decreasing the impact of undesirable events that do occur

4 The Actuary at Work

5 Industries Actuaries Work In Pensions & Employee Benefits Life Insurance & Annuities Health Insurance Property & Casualty Other Areas of Finance Risk management Underwriting

6 Places of Employment Insurance companies Consulting firms Government insurance departments Colleges and universities Banks and investment firms Large corporations and public accounting firms

7 Why be an Actuary? Top 10 Jobs (US News) Job Almanac Ratings 1. Biologist 2. Actuary 3. Financial planner 4. Computer-systems analyst 5. Accountant 6. Software engineer 7. Meteorologist 8. Paralegal assistant 9. Statistician 10. Astronomer 1st Edition (1988) – 1 2nd Edition (1992) - 2 3rd Edition (1995) - 1 4th Edition (1999) - 2 5th Edition (2000) - 4 6th Edition (2002) - 2

8 Why be an Actuary? (con’t) One of the top rated jobs in America Highest out of college salary You don’t have to go to graduate school Superior job security through economic cycles Merit based career You can make use of your math aptitude and communication skills Easy actuarial science and finance double major

9 Exams 1/P Test 2/FM Test 3 hours long Tests knowledge of probability Class: C /B : Introduction to the Theory of Probability 3 hours Tests knowledge of bonds, options, time value of money Class: C /B : Mathematics of Investment

10 Verification of Educational Experience (VEE) In order to get CAS, CIA, and SOA validation, one needs to pass exams as well as get VEE VEE covers materials not covered by exams but deemed necessary There are 3 VEE required: Corporate Finance Economics Applied Statistical Methods

11 NYU Actuarial Society: Mission Statement expands public awareness about the actuarial science profession and major creating long lasting relationships The Actuarial Society expands public awareness about the actuarial science profession and major to potential candidates throughout NYU. The society aims at networking and creating long lasting relationships with companies and alumni. The Society informs and prepares the members beyond what the curriculum can do.

12 Companies Coming In (Fall 09)

13 Workshops and Socials

14 Freshman Liaison Actively promote Actuarial Society to freshmen, working closely with the marking director and secretary If interested, please send an to and tell us why you would be interested in the position and your qualifications.

15 Additional Resources Professor Aaron Tenenbein KMC 8-58 Websites: pages.stern.nyu.edu/~actrlsoc/ beanactuary.org soa.org casact.org

16 Actuarial Society Information Website: pages.stern.nyu.edu/~actrlsoc/ Become a fan of ‘NYU Stern Actuarial Society’ on Facebook! Join us on ecampusgroups!


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