Thread by @SAH16928046

Interviewed a fully qualified #actuary from the @SOActuaries professional body, who really impressed me!
It goes on to show that not all mathematically inspiring and charismatic blokes are dull at understanding the subtle qualitative aspects of business #risk and transactions.

Actually, I do offer my services as a recruiter aka professional headhunter and knowledge capital developer, in addition to teaching Talent Management at staff colleges across financial institutions
I often get twirled when I have to choose between Financial Engineers & Actuaries

Mostly, for Front Office Risk Management roles, Financial Engineers, Financial Mathematicians, and Quantitative Economics or Finance Risk, etc candidates get preference
For Middle Office and other Risk Sub-Silos Roles, Actuaries compete with other Quants coming from hard sciences

Well, in the 1970s and right up to the 1990s, risk related works were confined to auditing, internal controls, assurance and review.
The credit risk work at banks was done by qualitative bankers, who knew little or no mathematical modelling or econophysics.
But, that worked well

Only, after BASEL 2 came into existence, that we saw a mushrooming list of requests from HR Departments, to hire qualified risk managers with an understanding of Bank Financial Risk Management and Modelling, which is slightly different from Insurance Risk Management Science.

Most #actuaries work in Life or P&C Insurance Sectors, but, due to sheet paucity of talent,& the phenomenal growth in the financial services risk-related roles, quants, and physical science grads, that can compute or write codes have made their way into the #FRM profession

But, I always tell HR Departments and concerned front, back and middle offices, that bring their request to me, to consider a candidate based on the job description and not parody roles, they read on @efc_global or elsewhere.

For Risk Hedging, Product Development, Financial Computing, Advanced Financial Research or Mathematical Trading, Fis are better off by hiring Financial Engineering/Math students.

For Risk Pricing, Risk Reserving, Risk Model Development, Pension Fund Risk Management, and Employee Retirement Fund Management, they should hire an #Actuary or someone with an MSc in Actuarial Science.

For Bank Risk Management, it could be anyone with a decent degree in any of the following-> Money, Banking, Finance, Investments, Operations Research or Economics/Econometrics.
If the candidate has a specialized MSc in Quantitative Financial Risk, that is icing on the cake!

For #ERM and Internal Auditing and Controls related Operational Risk Review and Assurance roles, anywhere, you will be better off by hiring a candidate with a degree in Accounting or Auditing with professional accredited certification such as ACCA/ CA/CPA.
Maths is not Accounting

For roles outside the Financial Services, we see huge growth in the demand for ERM and even FRM Professionals, including Actuaries and Financial Engineers, etc.
I always advise my clients to hire people with a basic degree who can understand the business model, products processes

For General Purpose Risk Management jobs, either within or outside Insurance, have a look at the IRM Diploma offered by @irmglobal
This is good enough for basic training and knowledge of elevation.
Good Luck!

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