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Coming from Europe - need advice

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  • Coming from Europe - need advice

    I look for advice in the following inquire.

    I am the actuary in Poland (I had passed official polish actuarial exams and became the actuary). I have been with Polish insurance company for 5 yrs working in valuation, pricing and solvency. Earlier I earned my Ph. D. in financial mathematics.

    Now I am about to move to USA.

    But do you think beeing an actuary in Eastern Europe matters in US? I mean, do I have a chance to get a really challenging job there?

    If you wish to help. I'll be glad .

    btw. Do you recommend some recruiters to contact by this sort of guy I am?

  • #2
    Moving from Poland

    I am also originally from Poland, so hopefully can be of more help, just e-mail me directly. Let me make some comments:
    - There is no recognition of Polish actuarial exams in the U.S. If you want to practice in the U.S., you must take U.S. exams. The goods news is that the Polish exams correspond roughly to the first four U.S. exams and the U.S. exams are somewhat easier, especially the probability exam (Course P). The bad news is that in addition to these four exams you will have to get VEE certifications and additional SOA modules/exams or CAS exams, several years worth of work. If you want to become an actuary in the U.S., you are looking at at least five years of exam taking ahead of you.
    - Ph.D. is helpful in Europe, if you wanted to work as an actuary in a Dutch, German, or British company, it would be valued. It is not helpful, or it may even hurt your chances in the U.S. You have a lot of education, but no American experience.

    So the news looks relatively bad. What comes to mind for me is: why would you want to move? Relative to other wages, actuaries get paid more in Poland than in the U.S. (although it is easier to find a job in the U.S.). But this is, of course, your decision. My comment is: if you want to become a qualified actuary in the U.S., you have a lot of hard work ahead of you. And, to a degree, this is necessary, because the system of insurance regulation and the financial system in the U.S. is very different.

    U.S. is very different from the rest of the world and the rest of the world is very different from the U.S. On top of that, both sides are unaware of the differences. On top of that the non-Americans, especially Western Europeans, are arrogantly unaware of the differences. So be aware of the fact that you have a lot to learn, even though you already have extensive education.

    You might want to try for companies that need some creative thinking, in cash flow testing, or dynamic financial analysis, or reinsurance, as your higher level mathematical skills may be valued there.

    Yours,
    Krzys'



    Originally posted by zygmuntt
    I look for advice in the following inquire.

    I am the actuary in Poland (I had passed official polish actuarial exams and became the actuary). I have been with Polish insurance company for 5 yrs working in valuation, pricing and solvency. Earlier I earned my Ph. D. in financial mathematics.

    Now I am about to move to USA.

    But do you think beeing an actuary in Eastern Europe matters in US? I mean, do I have a chance to get a really challenging job there?

    If you wish to help. I'll be glad .

    btw. Do you recommend some recruiters to contact by this sort of guy I am?
    Want to know how to pass actuarial exams? Go to: smartURL.it/pass

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