Actuarial case study interview

actuarial case study interview

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actuarial case study interview

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Applications & Interviews: Case Study Interview Tips

Why are you the best candidate for us? When were you able to resolve a problem within work? Rachelle Enns. Rachelle is a job search expert, career coach, and headhunter who helps everyone from students to fortune executives find success in their career.

Explore expert tips and resources to be more confident in your next interview. All Interview Topics. Have an upcoming Actuary interview?Whether you are preparing to interview a candidate or applying for a job, review our list of top Actuary interview questions and answers.

When you ask this question, you get to see whether the candidate has the basic understanding needed to be an actuary. This question also allows you to find out whether the individual fully understands the purpose of this tool.

What to look for in an answer:. Example: "Tables show the probability a person will die before their next birthday for each age. They have some very useful applications in insurance and healthcare. Can you tell me a little about the pros and cons of some of the actuarial software you have worked with before?

Knowledge of actuarial software is an essential part of any job, so this question helps determine if a candidate has a good grasp on the tools of the trade to help them succeed in their field. Phrasing the question like this encourages the applicant to elaborate instead of just giving you a basic list of the software they have used before. It gives you their opinion on common software, allowing you to see if they are a good fit with your company.

Example: "I like how flexible Moses is, but it can be a little challenging for new users.

Why I Chose to Become an Actuary

Prophet is easy to install and simple to use. Depending on the type of position you are trying to fill, you may need a candidate who has taken certain exams. You can use this question to figure out exactly what qualifications the person has.

Including an inquiry about their motivations with this question can let you find out more about their career goals. Example: "I've currently passed the seven standard FSA exams needed to get an associateship.

Eventually, I'd love to study more and take the three fellowship exams as I'm motivated to excel and advance my career as an actuary. You notice a mistake you made on one of your actuarial spreadsheets that's already been sent to the client.

How do you resolve the issue? Asking this question is mostly about testing the actuary candidate's ability to resolve any issue in a way that is not damaging to the company. It helps you gauge whether they have the social skills needed to work with clients and interact with co-workers in the office. How they reply can let you know if they would properly notify their boss or potentially cause a problem.Here's the announcement about a special offer - learn more here.

Deloitte interviews are pretty challenging compared to regular interviews at large corporates. The questions are difficult and the interview format is specific to Deloitte. But the good news is that with the right preparation it can actually become relatively straightforward to succeed at a Deloitte interview. We have put together the ultimate list of facts and tips you need to know to maximize your chances of success.

Deloitte is a force to reckon with in consulting. Deloitte Consulting grew through a series of acquisitions. As a result, it's a collection of relatively independent firms operating under the Deloitte Consulting umbrella. The different geographies are therefore less integrated than at a firm like McKinsey which mainly grew organically. Technology consulting focuses on digital strategy, delivery of IT programmes, cyber risks management, designing and building tech-based solutions for clients, etc.

Human capital focuses on topics such as organisation transformation, change management, corporate learning and development, diversity and inclusion, etc. InDeloitte acquired Monitor which was initially founded by Michael Porter, the father of Porter's five forces.

The exact format of each interview round will vary slightly by country. Below we step through the format that's currently being used in the US. If you are applying in another country you can still use this as a rough guide of what to expect.

In addition, we recommend that you ask your local HR contact at Deloitte for more details. First round interviews usually contain one behavioural interview 30 to 45mins and one or two case interviews 30 to 45mins each. This is quite similar to what you could expect at other consulting firms.

Second round interviews are slightly different however.

actuarial case study interview

They include one case interview and one behavioural interview, like in the first round. But in addition, you will also be asked to complete a group case interview. Let's step through regular case interviews and group case interviews at Deloitte in more details. You can also look at a few case interview examples on Deloitte's website.

Case interviews at Deloitte are candidate-led. The style is therefore similar to what you will experience in a BCG case interview or a Bain case interview. As we have mentioned in the past there 7 types of questions you need to prepare for in candidate-led case interviews:.

You can learn more about case interviews and how to prepare in our free case interview guide. One unique thing about Deloitte case interviews is that they will occasionally but not always give candidates written materials and a few minutes to review before they start the interview. This type of scenario requires the kind of skills you could learn in our free written case interview guide.

As we mentioned, case interviews at Deloitte are candidate-led and therefore use the same format as BCG and Bain case interviews. As mentioned above, Deloitte also uses group case interviews in its final round. Here is the key information you need to be aware of for this interview format:. This type of case mainly tests your ability to work with others. Interviewers won't intervene during the group discussion.Case Studies for Internship Interviews.

Hi everyone. I recently had my first face-to-face interview for an internship at a major insurance company, and failed to get an offer. While they didn't tell me why I wasn't hired, I'm pretty sure it had a lot to do with my weak performance on the "case studies. Since I had very little practice with such questions, I stumbled pretty badly and likely came across as kind of an idiot.

What can I do to better prepare for those questions next time? Almost all the sample case studies I've found are for consulting positions, which assume much deeper knowledge of the field than the entry-level positions I'm applying for.

A good source of case study questions appropriate to my job level would be ideal, though any help you can provide will be most welcome.

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I don't have a clear plan of attack at the moment, and without one it seems unlikely I will do much better on the next interview. Lots of books on case study interviewing, and your college career services should have advice as well - likely there's even groups of students that get together and practice case interviewing that you can work with. The level isn't really the point, the issue is to understand how you're expected to attack the problem presented in the case study.

Biggest problem for most young people - they don't ask enough questions.

actuarial case study interview

Even if you have no idea what the case is about, you'll score decent points by just asking intelligent questions and at the end you regurgitate some coherent version of what they just told you. Case in Point is usually the canonical text for preparing for case interviews.

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Originally Posted by Westley. Originally Posted by jx I've been out of college for the better part of a decade, so that's not really an option. The books are a good suggestion, though; I'll take a look at the one pinguino mentioned soon. Which is exactly what I'm trying to figure out right now. It might help if we delve into specifics, as "ask more questions" doesn't help me much unless I know which questions I should be asking.

Here are two of the case problems I was given: 1 "The CEO of Porsche claims that Porsche cars are safer because they get into fewer accidents. Is there justification for his claim? They assured me the two tables were completely independent from each other. If memory serves, the values on the table looked something like this: Table 1: 5 3 1 5 3 3 6? Table 2: 5 4 5 5 6 5 11 7 7 I did mention that I'd want data from previous months before drawing any firm conclusions.

What to expect in your Oliver Wyman interviews...

They said that was fair, but still asked me to answer the first question based only on the data in the table. I'd be curious to see what answers--and just as importantly, which questions--you'd expect to hear from an entry-level candidate on those problems.

OK, first of all, I think these are very unusual for actuarial interviews, so you might be wasting your time here. But that's your call to make. There are chapters that are more qualitative, analytical, and easy to read. This was not technically a case interview, and was for people close to, but not exactly, EL. I used to have an interview question that consisted of pointing out a variety of holdings the company had - several distinct insurance underwriters plus a couple of insurance-related business TPA, MGA, etc and some JVs - and I'd walk through the basics of each business.When it comes to interviews, most firms are keener to find out about personality, rather than technical skills, and actuaries are not renowned for being extroverts.

According to specialist recruiters, most actuaries fall down on the questions that demand some degree of personal introspection. They might be happy talking shop with fellow actuaries, but when they encounter chief financial officers, chief risk officers, HR or other senior business figures, they often fail to come across well.

Michael Walker, pensions consultant at Aon Hewitt, gives the example of having to explain an annual report to a diverse set of people sitting on a board. However, very often simply calling on actuaries to relay this information is a test of their communication skills, says Paul Walsh, CEO of actuarial recruiters Acumen Resources. Separately, these are some brain-teasers allegedly asked to actuaries at interview. Could you? Get the latest career advice and insight from eFinancialCareers straight to your inbox.

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Top 5 PwC Interview Questions and Answers

Click here to manage your subscriptions. Search Jobs. Graduate Guide. Interview questions that actuaries will almost always encounter, and how to answer them by Paul Clarke 04 October Newsletter sign up Get the latest career advice and insight from eFinancialCareers straight to your inbox Sign up. Error: Enter a valid email address. Error: There was an error with your request. Please try again. You're nearly there Please click the verification link in your email to activate your newsletter subscription Click here to manage your subscriptions.

How to depression-proof your career in banking Citi made it far easier to get an offer from this year's internships. Popular job sectors Popular job sectors Loading Cannot load job sectors at this time. Search jobs. Search articles.Our interview process is like our work environment. With a mix of conversational and case interviews, our approach is designed not only to get to know you and to understand more about your strengths and interests, but also to enable you to learn more about our people and our business.

Conversational Interviews These interviews provide the opportunity for us to find out more about your background and interests, as well as for you to learn about our firm. Ultimately, our goal is to assess and understand your interest in business and your goals for the future.

You can expect to hold a conversation with your interviewer about your accomplishments, experiences, interests and career objectives. This is also a good opportunity to ask questions about Oliver Wyman. Case Interviews The case interview is an interactive exercise in analytical thinking that allows us to assess how you approach and evaluate a problem.

There are many types of cases; all are designed to allow you to demonstrate your problem-solving abilities. And you'll learn a lot about the kinds of problems we solve for our clients, since many of your case interviews will be based loosely on real world challenges.

Case interviews help us learn how you thinkā€¦ and help you understand what we do. How do you approach unstructured challenges? Consultants break down complex problems into logical components. Can you evaluate data and use it in your analysis?

We analyze information and build up a bigger picture. Can you think outside the box? Clients look to us for fresh thinking and new approaches. Can you apply common sense to complex business problems? We develop practical solutions, not theoretical constructs. Can you ask the right questions? Consultants learn to pinpoint the issue that most needs answers.The interview process is a dialogue aimed at getting to know you personally, learning more about your analytical capabilities and also introducing you to the company, the people and the work.

You are assessed on your ability to listen, communicate effectively and present yourself with tact, energy, and persuasiveness. The interviewer looks for intellectual curiosity and creative thinking. And sometimes, they just want to find out what it would be like to spend a week on the road with you, working together on a client project. Most interviews are divided into three parts: personal background, consideration of a case study, and an opportunity for the applicant to ask questions.

During the interview, the interviewer wants to find out more about you and how you would fit in the company. For example, you might be asked to describe ways you have been able to make an impact in a team environment.

You could be asked to describe a time when you were able to overcome obstacles, persuading others to go along with a decision that they had initially resisted. The interviewer may simply be curious to hear your motivation for choosing to pursue a career with the company. The case study gives you an opportunity to demonstrate your problem-solving skills.

Because the case is likely based on a real client project your interviewer has worked on, you will gain a unique insight into what consulting is like.

The case study will feature a business problem that you will seek to solve during the interview. It will not require extensive knowledge of specific industries or processes and some cases have no right or wrong answers.

Your questions and thought processes are more important than coming up with an actual solution. It is an opportunity for you to get to know the people and the culture of the company.

Come prepared with a handful of questions that matter to you, and your interviewer will make every effort to answer them. To prepare for the case study discussion, you can review some practice cases from the BCG website. These examples will give you an idea of what to expect in the case study portion of the interview. You can also practice using BCG interactive online case.

On the day of the interview, relax and be yourself. While there are no set rules on how to solve a case study, you will find below some advice that can help you succeed.

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Listen to the interviewer and ask questions The interviewer will begin by laying out the problem. You should take time to align your thinking, ask clarifying questions, and communicate your line of reasoning to your interviewer. Structure the problem and form a framework Take a moment to think about the case to gain perspective.

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