United Kingdom : Trainee actuary programme at GAD - Andreas's story.
Andreas talks about his experience on the trainee actuary programme at GAD.
What interested you in the actuarial graduate scheme at GAD?
I studied Mathematical Science at City, University of London and then completed a Masters degree in Actuarial Science at Cass Business School. Before joining the Government Actuarys Department (GAD), I was a summer intern at CNA Hardy in London where I was part of the actuarial pricing team.
Ive had a passion for mathematics since school and I wanted a career that combined mathematics and finance. I discovered that the actuarial profession could be a perfect career choice for me due to its challenges, complexities and dynamic developments.
What also interested me about the actuarial profession is that the work is not purely mathematics and finance. It involves other interesting and fascinating elements such as programming and machine learning.
I was always interested in working within the public sector as my work could have an impact on the lives of millions of people in the country and that, for me, is the greatest reward of all.
When I applied to GAD, I was certain thered be lots of training opportunities. During my time here, Ive acquired so many new skills such as time management, project planning, software skills and peer reviewing. Ive also had the opportunity to further develop the statistical and analytical skills I learnt at university.
Tell us about your current role
At GAD, the type of work you do depends on which team you are placed in. I am currently part of the Actuarial Services team and I carry out calculations and actuarial valuations across GAD.
One of the most exciting projects I have worked on is the ERNIE project. National Savings and Investments use ERNIE (Electronic Random Number Indicator Equipment) to select the winners for 439 million tax-free prizes worth approximately 19.4 billion. We carried out statistical tests to test the randomness of the numbers generated from the ERNIE machine. Based on these tests and after completing several highly analytical checks, we were able to ensure the ERNIE machine is fair and that each participant has an equal chance of winning the prize in the Premium Bonds draw.
Ive also had the chance to work on GADs current major project - the transition to a new pension valuation software. This will enable our teams to work faster, more efficient and provide an even better actuarial service for clients.
I often work with other teams and this offers me greater exposure to the variety of work GAD does, diversify my knowledge and deepen my understanding of working together for a common purpose. I have very supportive managers; theyre ready to help and offer opportunities to help me learn and develop further.
It is amazing being able to work with many intelligent people and I have received really useful advice from more experienced colleagues which will help me further with my career development and future.
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|Date:||Aug 29, 2019|
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