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Hi! What do interns in the actuarial department do in the summer?

I'm a second year undergraduate, who is thinking about applying for the actuarial summer internship at EY. I'm also having a tough time deciding between doing a summer internship and a Year in Industy.

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  • 33 replies
  • 100 views
  • Author: Cedin W.
  • Category: Role, Internship
  • Date asked:
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  • Anonymous

    Hi do you know which area you are planning to apply to? Ie Life, Pensions, or General Insurance? For Life and Pensions the work is pretty similar throughout the year

  • CW
    Cedin W. Candidate

    Most likely I would be planning for General Insurance

  • Anonymous

    Ok cool thats where I work. So the work we do over summer tends to be more transaction based but also Capital Modelling. There is much more choice and options of what to do with over summer

  • CW
    Cedin W. Candidate

    Oh that's perfect. Hi Josie, I'm Cedin and thank you for choosing to clear my doubts

  • Anonymous

    I hope I helped :)

  • CW
    Cedin W. Candidate

    Okay so there are more choices for summer and for Year in Industry?

  • Anonymous

    So the General Insurance department tends to have lots of reserving work from October to February and the rest of the year is much more flexible in the type of work you do

  • CW
    Cedin W. Candidate

    I see. Also since I do a BSc in Mathematics and Actuarial I will graduate with around 7 exemptions for the IFoA- do you think this will be seen as a pro or con?

  • Anonymous

    We have people from both so I dont think it matters either way. What we realy base it on is your personality

  • CW
    Cedin W. Candidate

    What do you mean by that? As in from interview and such?

  • Anonymous

    So EY recruit based on personality and skills, not the qualifications you already have. We do not see what degree you have studied it or what university, it's more if you share the same values as us

  • CW
    Cedin W. Candidate

    And what kind of values are that?

  • Anonymous

    You can find them all on the EY website

  • CW
    Cedin W. Candidate

    Has the actuarial department evolved in any way as IFoA changes their exams? Like is there more need of computer programming or something like that

  • Anonymous

    I'm not sure sorry. Computer programming is always good

  • CW
    Cedin W. Candidate

    That's alright. As an actuarial consultant, I imagine you have been working with EY for quite a while?

  • Anonymous

    You need strong technical skills. So full time its only been a year. But I did three internships

  • CW
    Cedin W. Candidate

    All with EY?

  • Anonymous

    Yep

  • CW
    Cedin W. Candidate

    Since it's been roughly a year, how would you describe the company's culture?

  • Anonymous

    Its very flexible and inclusive

  • CW
    Cedin W. Candidate

    That's good to know. Who would you say are your major competitors strictly speaking in the actuarial market?

  • Anonymous

    There are a few, obviously the rest of the big four but also there are companies such as LCP which are more dedicated to actuarial. But we are one of the strongest for consultancy for the London Market

  • CW
    Cedin W. Candidate

    What do you like most about working at EY? And the least enjoyable aspects of your role?

  • Anonymous

    I think its got really good opportunities. I think that as with any job the least enjoyable bit would be filling out your timesheet haha

  • CW
    Cedin W. Candidate

    Haha I see. So what does a typical work day look like for you?

  • Anonymous

    I feel like there is no typical day. My role changes quite a lot day to day. It's always interesting though

  • CW
    Cedin W. Candidate

    Do you get to travel often?

  • Anonymous

    As most of our clients are in the city we dont tend to travel far but sometimes there are opportunities. If you want to travel and you make sure people know then they will try and help you travel

  • CW
    Cedin W. Candidate

    I think we're almost out of time. Thank you for all this info. Any final checks/tips before I submit the application for a summer internship?

  • Anonymous

    I think just be yourself

  • CW
    Cedin W. Candidate

    Thank you so much Josie!

  • Anonymous

    No problem :)