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With work exp of 9 years in Banking Software field, prospect of becoming an Actuary?

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  • With work exp of 9 years in Banking Software field, prospect of becoming an Actuary?

    Hi All, I have joined this Forum recently and I am very new to Actuary field. I am a Banking software proffessional with 9 years of work experience. What is the prospect for me to become an Actuary and change my job field at this stage? What is prospect of me doing Actuary exams and continue in Banking field? Do I need to complete all stage exams for getting a job. Will clearing Actuary exams give me an added advantage to my career at this stage. Would appreciate any kind of advise on this.

    Thanks.

  • #2
    What region are you targeting? what IT work do you do?

    In the EU it's basically impossible to enter the market unless you already have an actuarial 'masters' degree or whatever the regional credentials are (DAV, SAV, etc). I don't know if the UK 'deviates' favorably on that. There used to be so much recruiter-noise about the lack of experienced actuaries for the implementation of Solvency II, but entry it is synonymous to prohibitive; the low number of internships appear to be exceptions. In the USA you can enter the market before attaining credentials. Canada is in the middle, I think. In each case, legal authorization to work there is essential.

    As for IT work, I doubt front-end or GUI experience will help at all. Data crunching or statistical programming are relevant. In Europe, substantial experience in IFRS conversion or Basel III might help but, again, don't let recruiters' noise mislead you.
    Last edited by Iñaki Viggers; May 9 2013, 05:52 PM.

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