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Actuary’s Talk inspires 1st Year School of Finance and Economics (SFAE) students

Mr. Nicholas Wood, a qualified actuary who is a lecturer at Kent University, United Kingdom since 2006 visited Strathmore on Thursday, February 06, 2014. Mr. Wood gave a talk on the actuarial profession in addition to possibilities of post-graduate programs offered at University of Kent.

 

In a career where one needs to have completed fifteen professional papers to be fully qualified or be exempted from the same, many have not been sure as to how to go about the examinations. Mr. Wood made it clear that Kent can offer a student up to twelve exemptions. Additionally, he gave some very interesting insight about the actuarial profession. He discussed the different roles of actuaries in the market. He also showed how the salaries of actuaries at different levels are from the bottom (student actuaries) to the very top (chief actuaries).

 

Mr. Wood got his actuarial qualifications in 1997 (at that time, one had to do 10 professional papers to be fully qualified) after doing an undergraduate degree in Physics.

 

Mr. Wood mentioned that the first post-graduate course could offer up to eight exemptions from the Institute and Faculty of Actuaries (One of the world-class actuarial examination bodies). The second course could offer four exemptions from the same body and both courses take almost nine months. There are also a myriad of scholarships offered to students that can give financial aid to the tune of five thousand pounds.  The living expense is approximately ten thousand pounds annually – meaning one has to work very hard to live and study in the University of Kent.

 

The last part of the talk, a question and answer session, was very vibrant. Afterwards, students said the talk was lively and realistic. They felt that Mr. Wood gave a real picture of the life one would experience in University of Kent, and this prepared them mentally for what is to come if they wish to study there.

 

While talking to him before the talk, Nicholas mentioned to me that University of Kent has numerous sporting facilities including two gymnasiums. One last fact worth noting is that University of Kent has up to 13 fully qualified Actuaries working as their employees.  

  

Written by,

Tedd Miano Murimi,

First Year,

BBS Actuarial Science.

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