Advising the Next Generation of Aspiring Actuaries
Disclaimer: the opinions expressed by the author of this article don't necessarily represent the opinions of NAWA as an organization.
Entering the career fair, I was taken aback by the crowd before me. A sea of dark suits and ties. A crowd that did not look like me. As I progressed through my courses, this feeling of not fitting the mold persisted and as I began working, it soon became apparent being different meant I might face more barriers in my career. However, when presented with any challenge big or small, personal or societal, I do what any actuary does: understand the situation and work vigorously to find a solution. Through conversations, research, books, and more I learned ways I could overcome some of the longstanding barriers women have faced. Learning these lessons early in my career has empowered me to pursue my ambitious career goals, and I encourage my fellow aspiring actuaries to seek similar knowledge as well.
Although my work experiences have exposed me to the barriers I might face after graduation, these experiences also equipped me with a supportive network of women, allies, mentors, and more. One of my first interactions with a women’s group was Travelers' Women in Actuarial & Analytics (WIAA). The members of WIAA held a book club and had recently read “The Confidence Code.” Many of the members spoke highly of the book, so I decided to give it a try. Through this novel, I learned confidence and courage were traits that could be developed in many different ways. Applying for positions where you might not check all the boxes. Speaking up and sharing your thoughts with a virtual or physical room of colleagues. In one of my past internships, my mentor shared with me that she had recently been placed in a new position. At many of the team meetings, she kept quiet, holding her thoughts inside and letting the more tenured members lead the conversation. Until her manager finally told her “You weren’t chosen for this position to not have an opinion. You were chosen because your thoughts and ideas need to be heard.” From then on she made an active effort to recognize the value she brought and confidently contribute to her team. This is a characteristic I actively continue to work on within myself and see as a key to my future success.
In addition to connecting with women in my past companies, I have searched for external resources to educate myself about the current challenges for working women. Whether it is listening to Harvard Business Reviews’ “Women At Work” podcast or the latest “Women in the Workplace” report, I am constantly looking for ways to learn more. I have found both seeking knowledge and attending company-wide events helped me unlock a deeper understanding of the topic.
After creating self-awareness and educating myself, I am now including others in my learning process. Through having an open dialogue with allies, I am able to express ways I believe they can support me. Although women’s issues aren’t what you usually expect to talk about during mid-afternoon breaks, I was surprised and glad to hear how receptive many of my allies were. When I talk to women who are well-tenured, it seems like we have made great strides in defining what it means to be a woman in the workplace. However, like any great movement, there is always much still to be done, and it starts with each and every one of us. I am sure many of you like me received some advice early on in your career or maybe have some advice you wish you would have received to help you overcome any challenges or insecurities you faced while pursuing the actuarial career. To continue fostering our sense of community and investing in the next generation of actuaries, I encourage you to fill out the anonymous survey linked below to include your advice in a word bubble to be featured on NAWA’s page. You never know the positive impact your words may have.
Give advice here!
Meet Celeste Trevino
Celeste Trevino is a junior studying Actuarial Science and Data Analytics at Drake University in Des Moines, IA. She has held internships at Travelers, Nationwide Financial, Cigna, and will be interning at Deloitte in Summer 2023. In addition to being a part of NAWA’s University Outreach committee, she is a part of the Organization of Latino Actuaries Campus Ambassador Program. Celeste is passionate about increasing the pipeline of Latinx students pursuing the actuarial career and finding ways to use more advanced analytics in the actuarial space.
Advocating for Your Next Career Move
Disclaimer: the opinions expressed by the author of this article don't necessarily represent the opinions of NAWA as an organization.
When is it the right time to consider moving on from your current role and applying to a job posting?
To help answer this question and more, NAWA hosted a panel discussion on ‘Advocating for Your Next Career Move’ providing a thoughtful dialogue on trends in today’s hiring processes, interview and resume tips, and a proactive attitude towards new career opportunities.
According to Alice Lawrence, the right time may be sooner than what feels comfortable – women tend to hold off on applying to a job posting unless they meet 80% of a job description while men will apply when they meet ~45%. The right time to apply to a job position is when you know how or believe you could easily learn ~60% of the responsibilities of a job description and then let the other 40% be the growth opportunity. Job descriptions should resemble what your resume looks after you leave a position – not before starting it. Kristen Long noted that the right time is around when you feel comfortable accomplishing any duty of your current role and desire new challenges.
So… you want a new challenge. Is now a good time to start a new role? Well, you’re in luck! Industry trends are favorable!
Pauline Reimer noted five changes that she has seen in the hiring market in recent years:
1. Salary History Bans
Various jurisdictions have recently started to prohibit requesting prior salary information from candidates. Even better, job postings are increasingly required to include salary ranges for the position. These are small but beneficial changes to help improve salary gaps between two people working in similar positions at the same company.
2. Mainstreaming DE&I in the Workplace
Diverse organizations have demonstrated improved productivity and employee retention – among other benefits – and this has inspired leaders across organizations to further embrace DE&I.
3. Work from Home
Employees have benefited from WFH arrangements by a lack of a commute. Employers have benefited because they no longer need to limit their candidate pool by location. Both benefit by reduced costs in childcare and transit subsidies as well as fewer interruptions and less sick time.
4. Virtual Interviewing
Virtual interviewing has provided companies with travel expense savings for candidates to physically come to office.
5. Great Resignation
Employers are experiencing intense competition for workers and are responding to inflationary pressures.
You’re reviewing current job postings… should you just apply to any where you meet enough of the description (with a nice salary jump too)?
Our panelists have noticed a “boomerang effect” play out more often – where employees leave a company and come back after a short while. Solely chasing salary jumps tends to leave candidates not as happy and fulfilled in roles and thus leave positions more quickly. The panelists encourage being intentional about what you’re seeking in your next role; it will be more fulfilling if it aligns with what’s important: skills you want to develop, a company culture that fits with your values, rewarding work, etc.
Ah-ha! You see an amazing job posting that aligns with the broad skills that you enjoy doing and want to develop further in your career. Now what? How do you land this opportunity?
1. Update Your Resume
It is important to tailor your resume for a job posting. If it’s not obvious why your resume is a good fit for a position, you can add some bullet points to the top to highlight why you should be considered.
2. To Cover Letter or Not to Cover Letter?
Alice noted that she is neutral when cover letters are not included. However, if a cover letter is provided, she will read it; so, it better be tailored to the position. A cover letter may also be a good place to provide context for why you should be considered for a position when it’s less obvious from your resume. Pauline provided an example of a resume in a preferred format for experienced candidates. Tip: if you’ve had multiple roles at a company, include the total amount of time you’ve worked at the company as well as the time within each role.
3. Don’t Be Afraid to Work with a Recruiter
Maybe I should have mentioned this sooner. A recruiter (like Pauline) has their nose to the state of actuarial job postings. They can help you anything that this blog post discusses: finding positions that fit your career goals, reviewing your resume, preparing for interviews, providing information on what is and isn’t a good offer, and more.
4. Interview Tips
Be prepared!
Gather info about the company through its website and about your interviewers through their LinkedIn profiles. Further, you should review your resume beforehand so that each bullet is fresh.
Be enthusiastic!
Pauline shared an anecdote that someone she guided to a new position was selected from finalists for a position because their enthusiasm stood apart (and then they shared that advice with their family and friends)
Prepare 20+ questions
An interview can be sunk in the Q&A section if you don’t have questions for the interviewers (it can come off as being not that interested in the position). Prepare more questions than you think you’ll need. If you do manage to ask every question, it’s okay to repeat questions when talking to multiple interviewers. To get you started with preparing questions, you should ask about culture, work expectations, and exam support. These are very important; better to find out whether you’ll be happy at the company in the interview than months into a role!
How to dress
With virtual interviews, the general recommendation is to wear suits when interviewing for higher roles or with company executives and a blouse or a button-down shirt otherwise. It is okay to ask the hiring manager about attire recommendations.
Congratulations! You have started a new fulling role! Since you just started, you’re not fully comfortable yet. But there are things you can do to position yourself well in the future.
Kristen said one of the best things you can do is networking. Growing your network allows you to know the organization better and advertise your work product (managers can’t put you on projects if they don’t know you or your work!). And if you’re an introvert who feels intimidated at the thought of networking, try networking with an extroverted friend that loves it. A good networking goal is to aim to establish a new connection with one person a month.
Want to learn more? Watch the full discussion here!
Special thanks to Ari Moskowitz for moderating this conversation!
Meet the Speakers!
Meet Alice Lawrence, Talent Acquisition Manager at Brighthouse Financial
I am the Manager of Talent Acquisition at Brighthouse Financial and have been with our company since our first day as a Publicly Traded company in August of 2017. Prior to that I worked on the agency recruiting side, where Brighthouse/MetLife were a top client of mine. I requested to join BHF internally in 2017 after falling in love with the culture and company vision. I have been intimately close to all things Talent (acquisition, mobility, retention) for around 8 years now. However, prior to this career I worked in general Accounting and Accounts Payable! I graduated from NC State (with a teaching degree) in 2009 during one of the worst financial crisis’ in history and have seen many highs and lows in our market since. Safe to say, I know a thing or two about “Advocating for Your Next Career Move” in both strong and weak economies. I live in Charlotte, NC with my husband and 2 young daughters and we love all things food, fitness, family & travel.
Meet Pauline Reimer, ASA, MAAA, Managing Director at Pryor Associates
Named a top recruiting firm by Dun & Bradstreet, Pryor Associates has 50 years of insurance placement experience. Pauline Reimer directs the Actuarial, Modeling & Risk Division since 1986, after working as an actuary herself. She is an ASA/MAAA, affiliate member of CAS and IFOA, and member of the International Society of Catastrophe Managers. She has been appointed to SoA E&I Section Council; Executive Board of ASNY (Actuarial Society of Greater New York) as VP of Public Relations; and Advisory Boards of Columbia University’s MS in Actuarial Science & New York University’s BS in Actuarial Science programs. Quoted in periodicals & television, Pauline handles each step of every assignment personally. Her impressive placement records of 99% retention rate & retained search success ratio confirm her status as one of the most successful recruiters of actuaries worldwide. Pryor’s motto “It Takes One To Know One … An Actuary Placing Actuaries (and Related Professionals)” describes this best.
Kristen Long, ASA, MAAA, Managing Director at UNUM
I am a Director, Actuary at Unum and SOA and NAWA Volunteer. During my time with Unum, I've held positions in Group Pricing (current), Corporate Actuarial, and Voluntary Benefits Valuation and recently earned my FSA. I also serve as a mentor to many of my peers and lead initiatives for our development program associates based out of Unum's Chattanooga office. I love that my actuarial career has offered me an accelerated path to leadership roles as my long-term goal is to move up into senior management positions. I also hope to become a board member of the SOA and leverage my experience to help promote the Actuarial Profession to others who love problem solving. When I am not working or volunteering, I enjoy exercising, reading, shopping, and spending time with friends and family. I hold a degree in Actuarial Science from the University of Western Ontario.
Reclaiming my time!
Disclaimer: the opinions expressed by the author of this article don't necessarily represent the opinions of NAWA as an organization.
David Terné originally developed and posted this piece on his blog, Emerging Ally, and has allowed NAWA to post it as a NAWA Narrative. Visit his website to view the original blog post and additional posts by David focused on DE&I.
I have been fortunate to have known many strong women. As co-workers. As friends. As family. I am married to an amazing one.
They are professionals: Actuaries, Engineers, Doctors, Teachers, Lawyers,…
They are Senior Vice Presidents, IT leaders, Chief Actuaries, Entrepreneurs, ….
And they all have one thing in common.
They get interrupted….. By men…
All. The. Time.
In meetings. In social situations.
Somehow we males seem to always need to flap our gums. We pause for other guys. But women…. Not so much.
I have been in meetings where Senior Vice Presidents can’t get a word in edgewise over all the men talking over her. And men at all levels.
I have done it. Didn’t mean to but I have.
I learned about this after I got some feedback on it from someone I trust. I also started talking to women at the office and listen to the stories of my friends. They all said the same thing. It happens all the time.
So I tried to be better. Watch myself. It was hard to relearn how to handle meetings. I started taking notes in meetings around speakers. If you look at my notes it may seem like I am doodling but I am often ticking off how many times female leaders are interrupted.
Training sessions are generally the worst. Particularly those with male speakers. In one off-site management training it got so bad I shared my statistics with the training lead. When hands were raised the speaker always, without fail, called on the male participants first. Really bad.
I started to watch a few senior leaders.
I noticed many male leaders talked over their female counterparts.
I watched women I knew in those meetings. I could see their frustration. They would then speak up out of frustration to make their point. Many times they were the expert in the room and were getting drowned out.
Several would later get admonished for interrupting adding to their frustration. They were being overrun in the meeting and not being given space. They were interrupting others because others were interrupting them and not giving them the chance to express their view.
However I started to notice one leader who would continually stop the conversation. He would then turn to his female counterpart who was trying to say something and ask if she had some thoughts. Intentionally giving her space. He would then thank her and acknowledge the point - supporting her. Using his position to create a pause in the conversation.
And female executives took notice. They wanted to work on teams with him and on projects he led. He attracted talent.
Also meetings with him eventually took a different approach. He was modeling the behavior and others followed.
So I have shifted how I handle meetings. I look around (even on Zoom) and see where women want to make a point and if they aren’t getting space I try to point out that someone wants to speak.
I also try to manage my participation so I don’t talk over female voices. I indicate with a shift of position and lean forward in my chair, but don’t speak. On Zoom calls I find the raise hand feature is great for this.
Congresswoman Maxine Waters during a house committee hearing created a stir by continually using the phrase “reclaiming my time” as the male witness continually refused to allow her space to speak. It became a meme as it struck a cord for many women - regardless of their political leaning. If a congressperson needs help to keep from getting interrupted, maybe we all need to figure out how to help our friends and coworkers.
As always I hope this helps. I look forward to continuing the conversation. Please let me know your thoughts in the comments.
All the best,
Dave Terné
My name is David Terne.
8 min 46 sec. My patience vanished.
I have been trying to advance Diversity and Inclusion in the corporate world as an ally for well over a decade. I have chaired Diversity and Inclusion committees. I have written Diversity and Inclusion strategies. I have been an ERG executive sponsor and a member of ERGs. I have been a mentor and been mentored.
I have been trying to move the proverbial mountain for a while. The entire time everyone said to be patient - "it will take time". Then I saw the George Floyd video and my patience vanished. After seeing that video I knew I had to somehow do more. Hence I am starting this blog. I have met so many people who want to be an ally but don't know how to start. I hope this will get people off the fence. I hope it will create more allies and accelerate the change that is necessary in our corporate world.
Introducing our Newest NAWA Board Members
A year into things, NAWA is really starting to take off! We currently have 4 impact committees with 2 additional sub-committees, over 30 volunteers, and 10 committed sponsors. We have already seen tangible, positive impacts from our organization and have been encouraged and motivated by the support of our growing community. As our organization is expanding, we felt it was time for our Board to do so as well. We would like to announce and introduce to you, our newest NAWA Board members, Rae Warner and Ari Moskowitz.
Meet Rae Warner:
I am pleased to accept a position on the board of directors of NAWA. I was lucky to be involved in NAWA early on and have enjoyed being part of its journey so far. I truly believe that NAWA will continue to have a positive impact on women in the profession and grow that impact over time. As part of NAWA's kick-off event in 2021, I talked about the importance and power of allyship. I like to think of NAWA's partners as our allies and I see these partnerships as vital to increasing our reach in the profession. Some examples of key partnerships are those with other diversity networks, actuarial recruiters, industry non-profits, companies that employ actuaries, and our members. During my time on the board, I will look to establish the strategy and infrastructure within NAWA to continue to support and grow these partnerships. I believe this will broaden our reach and increase the impact NAWA has on the profession. This includes goals such as standing up the Corporate Action Council, increasing membership, partnering on events, continued focus on active allyship, partnering with the SOA and CAS to increase women's knowledge of the profession, etc. I am thankful for this opportunity and excited to work with NAWA's members and partners to broaden NAWA's reach and impact in the profession. I look forward to serving this community.
Meet Ari Moskowitz:
I'm excited to join the Network of Actuarial Women and Allies (NAWA) board in its mission to increase equity and representation of women in the actuarial industry, while creating a sense of community and providing opportunities for development. Through active involvement in DEI initiatives at work and volunteerism in the insurance industry, I've seen firsthand the power of allyship and the possibilities that can come to fruition by advocating on behalf of those underrepresented in our profession. I hope to use this opportunity to be a champion for progress in the industry through corporate engagement, policy advisory, unconscious bias awareness, and promoting allyship.
I Didn’t Take All of Those Actuarial Exams for Nothing
Disclaimer: the opinions expressed by the author of this article don't necessarily represent the opinions of NAWA as an organization.
In November 2011 I received two positive test results: one for the SOA Final Assessment for the obtainment of my Associate of the Society of Actuaries Designation and the other – a pregnancy test! Both results I wanted so, so badly, and there it was! July 2012 rolled around and my baby came into this world. Suddenly, I was no longer “Tamara Wilt, brand new actuary”, I was a mother! My new little baby broke my heart open.
On the first day she was to go to daycare and I was to go to work, I was met with a life changing decision. Family? Career? Both were what I wanted. Both were what I had waited for. I called up my boss and told him I could not do it. I could not leave her and return to the office! Understanding my predicament, he allowed me to work from home for the time being. Over the next few weeks, we negotiated. Hard. In his wisdom, he told me it was good for a child to see their mother have a career. We negotiated for hours.
Could I work from home full time? Ten years ago, the idea was taboo. Basically, you had to be a seasoned, “trusted” employee of the company, capable of doing 100% of your work on your own. Up until now, I was a student, in a mentorship type work environment. My employer taught me so much, day to day, in person.
Or maybe I should come into the office part time, and do the rest of the work from home. That way, I could still have face time with the other actuaries. What I really wanted and needed was to work part time hours. See, my husband is a pilot and airframe mechanic. He travels a lot and we have no family in the area. The day-to-day responsibility of baby caring was mine. I knew the partners at the firm worked on an hourly basis, billing their clients as they worked. This sounded perfect to me. Like a river flowing around the rocks, my work could fill in around my family responsibilities. But I wasn’t a partner. I was a 27-year-old with an ASA certificate. I became really good at taking exams and instruction from others, with little exposure to working independently thus far.
In my desperation for my new baby and my new actuarial designation, I argued “I will always be an actuary, but she will not always be a baby.” After that, he countered with allowing me to sub-contract. Basically, billing them hourly for my time I spend on their client work. Sold.
The perfect work-life balance is different for everyone, but this worked for my family. Our careers matter. We work really hard for it. But life matters too. As Julie Boggart said in “The Brave Learner”, “Keep your foot in the door, so you can swing it wide open when the time comes”. As an actuary, this means: stay educated and keep learning, formally and through mentorship. What kind of actuary do I want to be in twenty years, when my children are pursuing their own careers? Learning actuarial software and applying creativity through modeling has kept that spark alive for me. My work is valuable to me, a part of who I am.
10 years later, I am still doing part-time, remote work, paid hourly. Now my husband and I have three daughters, ages 3, 5, and 9. We have built a habitat for them which involves work and education on our terms: I still work part time hours and he flies in-country more. Between him and myself (with the help of occasional babysitters), we balance caring for our daughters and pursuing our careers. As for career, I took advice from Robert Kiyosaki when he said “If you are the kind of person who is waiting for the 'right' thing to happen, you might wait for a long time. It's like waiting for all the traffic lights to be green for five miles before starting the trip”. After four years of subcontracting for other companies, I started my own firm, Actuarial Guidepoint (while pregnant), obtained my own clients (lots of pregnant meetings involved) and hired my own subcontractors.
I have worked for various large companies over the years and I see a cultural shift towards family importance and life outside of work in general. At this point in time, recognizing an employee’s need for flexibility can be one of the largest competitive advantages a company can offer. According to Forbes and a 2018 Global Talent Trends study by Mercer: flexibility, purpose and health/well-being are the top influencers to job enjoyment. I’ve seen companies that allow parents to work around the school schedule, or to work from home for the summer. Companies are offering paternity leave to soften the transition of a new child entering the family and paid sabbaticals to pursue interests outside of work.
Since COVID, the attitude towards working from home has experienced a huge shift. Pre-COVID, if I had a new client, I would need to meet them in person first, flying out to their location, or driving to the office once or twice a week. Now, we meet on Zoom. I believe the nature of actuarial work, along with the professionalism and personalities of actuaries in general, lends itself to thriving in a remote environment. In 2020-21, many people were able to prove they are able to work remotely, and be trusted. To be more efficient and happier employees in this environment. In my opinion, having one parent that can be an anchor at home while still pursing their career is essential to a stable family life. My husband is a pilot. He can’t work from home, obviously. Or maybe Dad’s an actuary, and Mom’s a nurse. Both are important. Both are needed.
Through Actuarial Guidepoint, I have had the opportunity to help other actuarial professionals who needed a different work-life balance: whether to snag extra hours, be available when their kids got out of school, or have extra free time to crush exams, build an app, write a book: you fill in the blank. Career? Family? BOTH.
Meet Tamara Wilt
Tamara Wilt, ASA, MAAA is a Life and Health Actuary in Tampa Bay, FL. She graduated from the University of Nebraska – Lincoln Actuarial Science program in 2007 and obtained her Associateship with the Society of Actuaries in 2011. She started Actuarial Guidepoint, LLC in 2012. She is passionate about her work, namely, building project teams of skilled actuaries and learning new Actuarial Software techniques!