The Traveling Actuary
  • About Me
  • Travel - Home
    • Travel Indonesia
    • Travel England
    • Travel Kenya
    • Travel Singapore
    • Travel Australia
    • Travel Argentina
    • Travel Inspiration
  • Actuarial - Home
    • Actuarial Resources
  • Actuarial Blog

All things actuarial (and analytics).

How to Stand Out in an (Actuarial) Interview

3/31/2017

1 Comment

 
After putting hours of work into creating the "perfect" resume, you hear back from one of your potential employers - they want you to come in for an interview! Congrats! 

At this point, the potential employer likes what they see - if you had no shot, they wouldn't be calling you in for an interview! Now, it's up to you to make a great impression during the interview to land the job. 

While this post is focused on how to stand out in an actuarial interview, the same can go for many other types of interviews, too. Follow the tips in this post in order to go above and beyond so you can have a competitive edge in your interview!

1. Research the Position and Company

Bare Minimum:

Do not EVER go into an interview without researching the position and company further! Most importantly, you do not want to talk about passing SOA exams when the company you are interviewing with is a property & casualty insurance company! This happens! Don't let it happen to you - make sure you know before going into the interview. 

You should at least know the basics - know what industry the company operates in, lines of business, and other basics. The company website, job posting and a basic google search can give you the information you need about the company.

Above and Beyond:

Do some digging! Can you find any recent news articles featuring the company or the business unit with the job posting? The company website and social media for the company can help you find this relevant information. In both of my full-time positions since graduating, I brought up news articles in the interviews. It's important to do your due diligence and to make sure you can show what you know at the appropriate times.

​For example, if you find an article saying the business unit recently won an award for innovation, don't just blurt it out! Find a way to naturally bring it up in conversation or create a question based around it - "I saw this business unit won an award this last year for innovation regarding XYZ - I would love to hear more on how your team is able to continue innovating and staying competitive in the market." You may also find a new product or service the hiring business unit is offering - leverage that information in your interview to show you are interested in the work the group is currently doing and show you are aware of at least one of the things they are working on. 

2. Know your Resume Inside and Out

Bare Minimum:

Anything on your resume is fair game. Make sure you can speak to anything listed on your resume - you don't want to be caught off guard by a question. At this point, once you're called in for an interview - it's not in your best interest to send a revised resume with information omitted. If it's been a while since submitting your resume and the interview, feel free to send a revised resume with more recent information, but still be prepared to answer to any of the information from the original resume you submitted.

If you have a few years of experience, it's possible you may not remember a lot from something you listed on your resume from your first year. Make sure you are able to put together a few sentences to discuss those points since they won't be as fresh in your mind. 

Above and Beyond:

For your technical skills, take quick crash courses on the basics and applications for the skills. For example, if you list SAS, SQL and R on your resume and you are most familiar with R but have basic experience using SAS and SQL, spend a few hours learning about the basics of SAS and SQL and how they are applied. Find out what the necessary building blocks are to create code and try to find some examples of applications in the insurance industry.

This could be useful for some potential questions you may be asked in an interview and some of your answers. Instead of just saying you know the basics of SQL, you could say you know how to use joins to combine data or pull from multiple databases using the same criteria. Make sure you are familiar with the different types of joins and can elaborate on any of your answers if necessary. If you are familiar with the concepts and can walk through your reasoning on how you would perform a process in any of the programs (VBA, R, SAS, SQL, etc.), this is gold for the interview!

3. Integrate your Resume with the Job Posting

Bare Minimum:

Make sure you know what the job posting is asking for in terms of requirements and the job description. If you are applying to multiple jobs at once, it helps to keep a spreadsheet or another method to keep track of job postings you are applying for. The last thing you want to do is ask the person who called or emailed you to remind you of what position you applied for! 

Going into the interview, you should have an understanding of the skills or experience the hiring manager is looking for, so make sure you know the areas of your resume to highlight to show that you are a qualified candidate.

Above and Beyond:

Perform a full integration between the job posting and your resume. Create a table in Excel or Word and add each point from the job posting on the left and anything that is relevant from your resume on the right. If you do not have an experience that fully correlates with one of the points, find a skill you have that could help you perform that duty. 

Once you've done this, you know what you should focus on from your resume when you are preparing for the interview. You don't want to sound too rehearsed, but there's nothing wrong with saying something along the lines of, "When I saw this job posting, I was really excited to see XYZ in the job description. In my current role, I've not only had the opportunity to work on a similar project/process, but I've been able to refine the process through my knowledge of ABC. I'd be really excited to work through this process on this team and see if there are ways to make it more efficient!". You wouldn't want to do this for every point in the job description, but doing this for a couple of points can show you are really interested in the position and have ideas you can bring to the team to improve workflows.

4. Develop Thoughtful Questions to Ask Interviewer

Bare Minimum:

Don't ever go into an interview without any questions! You also don't want to go in with a limited set of questions that are answered throughout the interview. The questions you ask at the end of an interview are 100% in your control - don't be the person who answers, "No, I think you answered all of the questions I have at the moment." You also don't want to be put on the spot scrambling for questions to ask. 

If you have at least five questions to ask going into an interview, you should be set. There are also tons of articles out there that can help you out if you're stuck. This Actuarial Outpost thread has a couple of good ideas... but there are a few horrible ones mixed in, so just don't be that guy/girl that tries to fit "body bag" into the interview somewhere. This is another good AO thread with slightly less sarcasm (I mean, the second comment in the first thread listed was already sarcastic, so I guess can't get much more sarcastic than that) and more comments. 

Above and Beyond:

For bigger companies, it's pretty easy to find information on company culture from sites like Glassdoor. You can also find one or two people to reach out to on Linkedin to get a more candid view on the company, work, etc. Typically, if you are pleasant when you are reaching out and mindful of their time, people who work at the company will get back to you and be happy to answer your questions and tell you more about the company culture. In some cases, this may be the better route to really find out about the company culture instead of asking your interviewer.

Since you can find out about the company culture elsewhere, use the time for questions to ask thoughtful questions about the department and position. Don't be boring and ask the standard "what does the career path look like for someone who starts in this position" or "what type of skills would make a future candidate successful". Instead, set yourself apart by asking thoughtful questions such as "what are some of the metrics used to evaluate the results of this team in terms of annual and longterm goals" or "how does the work of this team affect the bottom line". Don't be afraid to ask follow up questions, too. You may want to follow up one of the questions by asking whether or not the team is on track to meet their goals and the impact someone coming in to fill this position could have on meeting these goals. If you are confident enough to run with it and the conversation is going well, you may even be able to tie in some of your skills to show you are quick on your feet and you'd be able to work through problems and develop solutions on the job.

5. Practice!

Bare Minimum:

This shouldn't come as a surprise - practice is essential to acing an interview! If you are still in university, check to see if you can sign up for a mock interview at your career services center. If you aren't able to practice interviewing with another person, at least make sure you are speaking out loud. You could even record yourself answering questions and see if what you are saying is making sense or if you unknowingly use filler words to break a silence or end a statement. This is even more important if English isn't your first language.

You want to make sure you are getting your points across in a concise manner. Don't ramble, but at the same time, you don't want to leave out important information. You also don't want to practice in a way that will make you sound too rehearsed in an interview. The point of practicing is making sure you are able to speak on all of the points you need to cover without rambling or using filler words.

It's the easiest to ramble when an interview asks the "tell me about yourself question" or "why are you here". The Muse has a short video to help you answer this question in a clear and concise manner. This is a gimme question - I've been asked this question on almost all of my interviews, so make sure you have a solid answer!

Above and Beyond:

This list of actuarial interview questions is a pretty comprehensive list and a great start to practicing potential interview questions. Using these questions, along with the list you made based on the job description and resume, practice answering these questions using the experience and skills that will clearly display the traits the interviewer is looking for. Try to keep each answer to only a few sentences. So for example, if the interviewer were to ask you for a time you went above and beyond, you would want to make sure to use an example that is relatable to a point in the job description. 

With some creativity, you should be able to tie back a lot of your experiences and skills to what the interviewer is looking for in a candidate based on the job description. Practicing out loud will help you refine your answers and help you work through how to display your answers in a way that will make you irresistible to your potential employer!

If you have any experiences you are really passionate about, volunteer work for example, practice how you would broach that subject and how you can relate that to the skills the interviewer is looking for. This is important because in most cases, these extracurriculars are experiences you are passionate about and the passion can come off as enthusiasm while also making you (and even the interviewer) more comfortable. 
Picture
Do you have any other interview advice for standing out from other candidates? Have any of these tips worked for you? Would love to hear your thoughts in the comments below!

1 Comment

Beyond Math - Differentiating Yourself From Other Actuarial Candidates on Paper

2/17/2017

0 Comments

 
Picture
Once you land an actuarial role, you're typically set for life, especially if you keep passing exams to become an ASA/ACAS/FSA/FCAS and continue learning and developing your actuarial skills. The actuarial designation, along with a few years of actuarial experience, makes a huge difference - every day, I see multiple roles pop up in my LinkedIn feed looking for actuaries with 5+ years of experience and at least ASA/ACAS.

All you have to do to one day land that coveted role is pass a few exams (I may have a pretty loose definition of 'few') and land an entry-level actuarial role to begin your journey. Easy right?! Not in an oversaturated entry-level actuarial job market! Many recruiters won't work with entry-level candidates for this reason, so it's even more important to make sure you are doing everything you can to stand out from other actuarial candidates. 

The first step toward standing out is having a great resume that is able to showcase your qualifications while also being easy to follow and aesthetically pleasing (if you haven't yet, check out my blog post with some great tips for actuarial resumes!).The second step toward standing out is using your resume to differentiate yourself from other candidates. This is really important since a lot of candidates have similar qualifications!

If you have at least one exam passed, a couple of solid technical skills (definitely excel and then some experience using SAS, SQL, R, or VBA), a decent GPA (3.0+), a well-formatted resume with some work experience (doesn't need to be actuarial) and differentiating experiences, you can get an entry-level actuarial interview. 

Your resume does not need to scream 'MATH' in order to get you an entry-level actuarial interview. In fact, I advise against everything on your resume being math/stats/actuarial related - it may be impressive, but it's boring! Make sure your qualifications are on your resume and then include some of your unique experiences to help showcase other important skills such as communication skills, critical thinking, passion, leadership and teamwork. I'll provide some example experiences that can showcase these skills, but of course, this is not an exhaustive list! 

Where should these "differentiating" experiences go on your resume?

For education related experiences, it's probably best to keep those under 'Education'. Extracurriculars can probably go into a 'Leadership Experience' section or 'Volunteer Experience' section. If you did an independent project, you might want to add it under 'Education' or 'Skills & Interests'. For some differentiating experiences, try to come up with 2-3 bullets that show how the experience demonstrates that you possess some of the five skills below. There are some interests/hobbies that may be better being grouped with a couple of other interests on one line. For example, Mountain Climbing is an experience that could either be two bullets showing important qualities or part of a list. If you are in a mountain climbing club and travel regularly with others to certain areas for intense climbs, you could incorporate that into two bullets to show a variety of skills:
  • Train with team members weekly for bi-monthly rock climbing trips of varying difficulty. (Passion)
  • Strategically climb peaks while quickly evaluating the safest path to the top, assisting team members as necessary. (Critical Thinking, Teamwork)
If you enjoy mountain climbing but don't do it often, it should go on an interest line with 3-4 other interests (Interests: Mountain Climbing, Traveling, Photography, Blogging). For the record, I know nothing about mountain climbing. 

If you had two identical resumes, with the only difference being Mountain Climbing Club on one versus Math Club on the other, and could only interview one person, who would you choose? Interviewers are in this position all the time - make it an easy choice for them to choose your resume! 

Differentiate yourself while showing the following five skills:

1. Communication 

Having the right communication skills are SO important in an entry-level position, especially if you are applying for a role in a division that works closely with clients or employees in different divisions, such as underwriting or claims. It's important to make sure someone looking at your resume can clearly see you have the communication skills they are looking for. Here are some ways you can differentiate yourself while showing you have this important skill:
  • Volunteer for community outreach at your favorite non-profit organization
  • Become an events coordinator/secretary for a college organization you are passionate about
  • Cold-call to raise money for your college/non-profit organization (this helped my verbal communication skills tremendously!)
  • Participate in college case competitions (these will be helpful if you want to go into actuarial consulting) 
  • Enroll in a writing/communication elective course or major in a communications-related field
  • Start your own blog about something you are passionate about (keep it professional, though!)
  • Start your own business (be careful with this, you want to make sure it's not seen as a conflict of interest!)

2. Critical Thinking

As an actuary, you will need to be a good problem solver and able to quickly think through solutions or other work-related tasks. It's important to show you are able to think quickly on your feet and pick things up on the fly - there is a lot of on the job learning as an actuary! There are a lot of ways you can show your critical thinking skills outside of the math bubble:
  • Study abroad or volunteer abroad (bonus points if you learn a foreign language)
  • Play a musical instrument
  • Attend Improv/theatre classes
  • Blog (specifically if your are blogging about different technical skills)
  • Play sports or other physical activities that require you to think on your feet
  • Develop your own model to predict game outcomes for fantasy sports (or regular sports)

3. Leadership

Leadership comes in all different forms - you can show leadership through a variety of different experiences. Sometimes, leadership can be shown just by pursuing a hobby or activity you are interested in. For example, if you are really passionate about animals and begin volunteering at an animal shelter and then pick up a role where you are posting on social media to help get animals adopted or community outreach, that definitely shows leadership. Here are some other examples:
  • You can mentor underclassmen or high school students
  • Join the board of a college organization or get involved in committees
  • Take on and lead an independent project (kaggle competitions are pretty cool and a good way to gain a better understanding of data science)
  • Become a captain of an intramural sports team 
  • Lead a volunteer project 

4. Teamwork

Being able to work well with others on a team is an important skill to have as you enter the job force. Employers want a team player - someone who can work on projects with others and help  out when necessary without any issue. A lot of the activities listed above can also show you are able to work well with others on a team. Here are a few more:
  • ​Join a team to compete in a college competition - many colleges have competitions throughout the year across a variety of interests
  • If you loved playing a sport in high school, continue playing in college - you could play for the college, intramural or join a local recreational sports team
  • If you are part of a board or committee, you can also show you work well on a team, especially if you are working with others to put processes together or create events

5. Passion/Enthusiasm 

A lot of students make the mistake of thinking that everything they do in college should reflect that they want to be an actuary - math related major, math related clubs, math related work experience, etc. That's not true at all! Remember, there's more to work than just work - there are going to be happy hours where you need to interact with other human beings, so if you have interests you pursue outside of the realm of math, it will make you much more interesting to your fellow coworkers and make for great relationships with those you work with. This list is truly endless, but here are some ideas to consider:
  • Don't be afraid to pursue a major outside of math/actuarial science if you have another subject you are passionate about (passing the first couple of actuarial exams will prove you are good at math) or double major in a math related course and a non-math related course
  • Volunteer/fundraise for a cause you are passionate about
  • Become involved and active in an organization regularly

Anything you do outside of studying for exams and math-related classes/organizations/work can show you have passions and interests outside of your career which will help differentiate you from other candidates. This will also have a great impact during your interview since you will be able to spend a few minutes talking about something you do that you are really passionate about!
I differentiated myself through my passion for travel. When I was applying for entry-level positions, I had one actuarial exam passed, a few technical skills I picked up from the Infinite Actuary, an average GPA and no prior actuarial experience. I also had three international volunteer experiences with Habitat for Humanity and two semester abroad experiences.

When I was a junior, I had to make the toughest decision of my life (at the time) - I could either do a semester business exchange in Australia from July - November of senior fall or do a summer actuarial internship. It was a stressful decision, but I know 100% studying abroad was the right choice - it was 100% an experience I really wanted whereas an actuarial internship was just something that was "expected" of me because it was the summer before graduating. 
Luckily, I still had around 5 interviews and an offer before graduation - so it worked out!

​Since there was so much travel on my resume, it was bound to come up in interviews and, I can't speak for myself, but I know when others talk about their passions, they light up and it makes for great conversation. That's probably why, after I was hired, one of my interviewers said she remembered me as the girl who went to Africa (one of my favorite trips of all time, btw). You should always strive to be that person who's remembered for doing something unique. Don't be all business - let your passion shine through!
Stay tuned for next month's post on differentiating yourself in an interview!
0 Comments
    Picture


    Stephanie Borowiec is a former Actuarial Analyst. She graduated from New York University's Stern School of Business in 2014 with a degree in
    Actuarial Science and Finance. She hopes this blog will help others in their pursuit of a career in the insurance industry as an actuary and related disciplines. 
    ​​
    For her travel blog, please visit: www.stephanieborowiec.com/blog !

      Subscribe for new blog post alerts!

    Subscribe

    Archives

    August 2019
    March 2018
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    April 2016
    November 2015
    July 2015

    Categories

    All
    Actuarial Job Search
    Actuarial Vs Analytics
    Airport
    Big Data
    Branding
    Business Travel
    Career Advice
    Data Visualizations
    Differentiate Yourself
    Entry Level Actuarial
    Entry-level Actuarial
    EWR
    Exam FM
    Exam MFE
    Exam P
    Exams
    Giveaway
    Hotel
    IDMA
    Insurance Data Management Association
    Insurance Industry
    Job Search
    Mentoring
    Networking
    Performance Reviews
    Personal Experience
    Preliminary Actuarial Exams
    Resume
    Rewards
    TPA
    Travel

    RSS Feed

BLOG


TRAVEL


ACTUARIAL


© 2018 Stephanie Borowiec
*Everything found on this site is based on my own experiences and opinions*

Powered by Create your own unique website with customizable templates.