Student Perspectives: The Work of An Actuary

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Mariya Pakina (MS Financial Risk Management) shared with the GCMC about her work as an Actuary.


What has been one of the most important things you’ve learned at your internship?

The most important thing I learned was that I finally got a clear understanding of what actuaries do. I learned how to communicate with important people and ask the right questions in a professional manner, how to project manage starting with requesting the data and to delivering the client the final project. I learned how to response to unhappy clients and make the client understand that they hired us for a reason. I learned how to jump from one meeting to another, and then continue reports for completely another client. I learned how much paying attention to details is crucial. I learned that you need to check your work twice and probably the next day with a fresh eye before submitting it. 

However, the most significant that I learned is that health and benefits actuary should not only have highest education that possible, pass exams, know excel and coding, but also should know all legal regulations, how insurance works, how stocks work, how the entire financials operate. We should know everything and constantly read some new material. 


How have you approached networking at your internship? Share any one specific example that has been impactful for you.

As an actuarial analyst I must communicate with vendors to get the data. I contact the fund office for more data. I also participate in staff meetings and clients’ meetings. However, I asked for it. I am asking all the time for more and more work. In the corporate world people should ask and work in order to be presented to the clients. Only work ethic and enthusiasm can move people to communication. For example, I was introduced to the board of trustees of one of our biggest clients because I showed my work and asked to participate in more meetings.  


What has been your biggest contribution to your team at your internship? Why?

One of the biggest accomplishments is that I learned software called Claros. Basically, I am building a new insurance plan for the company based on their population, gender, location, and preferences in general, so they can save money and provide better coverage for their employees. Only two people can do that in our team. I cover most of the related projects with it due to my role and my interests. 

Another thing is that I know how to keep track of projects. I am crucial for the company because I am taking care of 10+ clients and manage to learn something new from other departments and implementing that to our, and complete projects on time. 


After this experience, what would you like to learn next?

I strongly believe that my journey just started, and I have a lot to learn still. I am excited about the upcoming exams that I have in my career. I am in a student program for my certifications, and it is fantastic. In addition, I voluntarily started learning pharmacy. It is interesting and important in the career of health and benefits analyst. So, a lot of a head of me and it is just the beginning of very exciting journey in the world of actuary. 


For students having a difficult time finding an internship, what is one piece of advice you would give them?

I could not find a job for two years. You need to do couple things: 

  • Do masters and/or pass certifications, update your skills related to your career choice
  • Make connections. Ask your professors for referrals. Ask classmates and friends 
  • Work on your LinkedIn profile seriously. Starting from picture, description, work experience, and take LinkedIn proficiency tests. Make 500+ connections in YOUR sphere. Send requests to people who have been in your sphere for a long time. Request couple “reviews”, endorsements to your profiles, ask for recommendations. After that put “Open to work” frame and make a port that you are looking for a job. 
  • Another LinkedIn feature is Prime. This shows you recruiters who posted a job and gives you an opportunity to message them directly. Try to make a conversation with a real person and make yourself visible 
  • Last but not least, go to Baruch Career center and register on the Starr website for a job. I had a couple unsuccessful interviews with them. But still, I had at least an opportunity for the interview, not just a rejection. 

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