Mrs Sophie Sicard, one of our top consultants in the French market, was recently interviewed by L’Agefi, a famous business and financial newspaper, highly appreciated among citizens of the “Pays des Lumiѐres”.
Sophie explains the importance of actuarial skills, which have become more and more appreciated not only within assurance companies but also in Investment Banking.
Actuaries solve practical problems. Certainly, some of them are essentially connected to insurance. However, they are more and more requested in the resolution of problems related to finance, in particular in the trading rooms’ risk management. Especially with increasing complexity of financial products it is necessary to take into account a largest number of risks, in a very rigorous, coherent and transparent way.
A few years ago, the investment department would have been considered the best place to work. Lately, actuarial skills have become essential in risk management, as well as in financial engineering. In addition, with the introduction of Basel II, a huge range of new opportunities have come up.
But “Just having a sound set of technical skills is not enough” -said Sophie- “They also need to develop other types of soft skills. Communication skills, ability to liaise effectively at all levels and managing team are also very important “. Being able to explain complex technical concepts to non-technical people in an easy to understand language is a crucial aspect to succeed in this profession.