Fears that the actuarial profession will suffer as a result of the decline of defined benefits are laid to rest. According to this article in the recent online addition of Global Pensions, actuaries are keen, diverse, able to leap tall buildings (in our humble opinion), and will continue to be in demand.
Possibly one of the largest – and most contentious – growth areas for the actuarial profession is the rise of the ‘implemented consultant’ or ‘fiduciary manager’. Although the two terms carry slightly different connotations, they share many of the same elements, not least the actuarial involvement in schemes.
Not sure if/how you will fit in? Top roles for qualified actuaries have become more difficult to find, creating a need for specialised recruitment. The need for actuaries is so great, according to Dr. Geraldine Kaye, MD at GAAPS Actuarial, that she, as a strong believer in the skills of actuaries, has been working diligently at getting actuaries included in the Highly Skilled Migrant Workers permit programme so that companies with long-standing vacancies can fill those roles. “With the credit crunch hitting the headlines, GAAPS has never been busier. The UK actuarial profession does not seem to have been hit in the same way as other areas of financial services in terms of redundancies.”