Category Archives: Solvency II

Actuaries Back On the Government’s Shortage Occupation List

The Government has just published a 243 page document providing a full review of the recommended shortage occupation lists for the UK and Scotland.

Chapter 7 gives The recommended UK shortage occupation list and Page 207 lists:

Qualified actuary working in the life assurance, general insurance, and health and care sectors, etc;

Please be aware that The Professions definition of Qualified Actuaries includes Associates as well as Fellows.

As you can see the listing is ambigous in the use of the word – “etc”.

Updates will be posted to The GAAPS Blog once matters are clarified.

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Dr Kaye Announced as Chairman Designate of The Argonauts

Dr Geraldine Kaye was announced as the Chairman designate of The Argonauts at the most recent meeting at The Ivy.

The Argonauts is a dining club open to qualified actuaries practising in non-traditional areas (i.e. areas other than traditional life actuarial or pension actuarial work), such as finance, general insurance, investment management, pension scheme administration and risk management.

Brid Meaney was the actuarial speaker. She is an excellent speaker and spoke about Solvency II, providing insights that even Geraldine had not heard of before.

The non-actuarial guest speaker at the event was Robert Gardener. He gave a fascinating presentation in which he spoke about social networking and explained how it works. He also described how he had developed Mallow Street, a place for the pensions community to connect and share knowledge, into a social network with 1,700 members and one of the most influential voices in the pensions industry.

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Do You Know What Actuaries Do?

Actuaries work across diverse industries, from insurance, pensions and benefits, investment and asset management through to banking, healthcare, capital projects and risk. Working individually or as part of a team, you could find yourself being a consultant, analyst, trouble-shooter and risk assessor – all in the same day.

Actuaries use maths and economics every day of their working lives, but they also require good interpersonal skills, as they are in regular contact with clients, senior colleagues, and the staff they manage.

To a certain extent what actuaries do can seem to be shrouded in mystery – watch this entertaining video clip of students at Purdue.

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Pancake Flipping – A Job for Actuaries?

This week Dr Geraldine Kaye of GAAPS represented the Worshipful Company of Actuaries as a team member in the Worshipful Company of Poulters 7th Annual Pancake Race on Shrove Tuesday in the Guildhall Yard in the City of London.

Dr Kaye Flipping Pancakes

Though not the tallest participant,

Giraffe

Dr Kaye is the person to contact if you are looking for an actuary job.

Even if you don’t consider pancake flipping whilst running to be an essential requirement when choosing a recruiter, please bear in mind that at GAAPS we have vacancies in all fields of the actuarial profession including life, pensions, health, risk, general insurance and Solvency II.

A Qualification in “Applied Common Sense”

Actuaries work across diverse industries, from insurance, pensions and benefits, investment and asset management through to banking, healthcare, capital projects and risk.

Working individually or as part of a team, you could find yourself being a consultant, analyst, trouble-shooter and risk assessor – all in the same day; so because your own future will be wide open, you will also be the kind of person who’s ready for anything.

You need to be able to distinguish between the essential and the inessential and, once qualified, to have a long-term perspective.

I often describe the actuarial qualification as a qualification in ‘applied common sense’.

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Do You Need a Risk Committee?

Oliver Peterken presents a rigorous talk on the value of risk committees and the obstacles preventing them from being efficient. Here’s what to watch-out for:

· Executive vs. Board: to whom does the Risk Committee report?
· Beware the Audit Committee/Risk Committee overlap!
· Chief Risk Officer’s relationship to the Risk Committee
· Responsibilities: defining the Chief Risk Officer
· Leadership in a time of crisis

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Compensation after the crisis With Olaf…

Olaf John, actuary and former stand up comedian discusses the impact of the financial crisis on compensation. What does it mean today and what is likely to be the long-term impact?

Watch the video below of a recent breakfast briefing held by GAAPS Actuarial.

If you would like to attend future breakfast briefings please contact gkaye@gaaps.com.

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