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PwC Actuarial ServicesIndiaGraduate Recruitment
Vacancy Description
2016-17
www.pwc.com/uk/work-in-mumbai
PwC
What Actuarial Consultants do
• Help clients analyse how future events couldaffect them
• Analyse the past, model the future• Assess the risks involved
MakeFinancialSense of theFuture
• Encourage decision making with aclearer view of the likely range of financialoutcomes
Enable MoreInformedDecisions
• Balance their role in business managementwith responsibility for safeguarding financialinterests of all stakeholders
Balance theInterests of AllStakeholders
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Road to qualifying as an Actuary
• Become a member of the actuarial institute
• 15 Exams: technical & practical exams
• 3-6 years to qualify- Requires regular self study
Exams
• Work on a variety of life and non-life insuranceprojects while simultaneously taking exams
• Decide on which area to specialise in for laterexams
WorkExperience
• Continuous professional development
• Take on more responsibility in seniorleadership roles at PwC
PostQualification
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Actuarial ExamsCore
Technical
• FinancialMathematics
• Finance andFinancial Reporting
• Probability &MathematicalStatistics
• Insurance Models
• General Insurance,Life and HealthContingencies
• Statistical Methods
• Business Economics
• Financial Economics
CoreApplication
• Actuarial RiskManagement
• ModelDocumentationAnalysis &Reporting
• Communication
SpecialistTechnical
• Health Insurance
• Life Insurance
• Pensions &Employee Benefits
• Finance &Investment
• General InsuranceReserving andCapital Modelling
• General InsurancePricing
• Enterprise RiskManagement
SpecialistApplication
• Health Insurance
• Life Insurance
• General Insurance
• Pensions &Employee Benefits
• Finance
• Investment
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PwC Actuarial ServicesActuarial Services operates within three distinct fields of work. You will find opportunities todevelop and improve your skills in the below mentioned areas and ready yourself for biggerroles on similar projects as you grow with the firm.
ActuarialServices
LifeInsurance
WiderFields General
Insurance
The Wider Fields opportunityoffers a wide range of projectsacross a variety of clientsincluding banking, healthcareand non-financial servicescompanies.
A majority of the work we do isactuarial analyses for some ofthe world’s largest life andgeneral insurance companies.
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Areas of work you’ll be involved in
RiskManagement
Reserving
Guidance onMergers &
Acquisitions
Underwriting& Claimsprocesses
Businessrestructuring
Dataanalytics
AssetLiability
Management
OurServices
Advice onSolvency &
Capital
Financial &Regulatoryreporting
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Clients you’ll be working with
OurClients
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PwC’s Graduate ProgrammeAs part of the graduate programme you'll undertake a self-directed learning programmeinvolving; studying for a professional qualification, gaining knowledge of the industry andmarket, self-development, self-awareness and leadership skills development.
Self-development
PwCGraduate
Programme
1
5
4
2
3
Studying for aprofessionalqualification
Personaldevelopment andself-awareness
Challengingclient
engagements
Leadershipskills
development
Gainingindustry &marketknowledge
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What we offer you
Career Progression• Opportunity to grow and develop your
technical & personal skills• People Manager will be responsible for your
performance, personal wellbeing & coaching01
Study SupportPwC will provide:• Exam support - reimbursement of exam fees• Study leaves for each exam• Rewards and Increments for passing exams
02
Induction & Training ProgramExtensive graduate induction programintroducing you to insurance reserving concepts,the global insurance industry, statistical software,and soft skills training.
03
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SOFTSKILLS
Skills that you’ll develop
ProjectManagement
TeamworkTime
Management
Communication
Businessacumen
Leadership
SOFTSKILLS
Cash flowmodelling
Data AnalysisProblemsolving
Strategicthinking
StatisticalAnalysis
IndustryKnowledge
TECHNICALSKILLS
You'll learn and develop the specialist skills our clients look for and value most. This includesstudying towards a professional qualification, with support from us all the way. After you'vequalified, you'll have the option to look for new challenges, perhaps in others areas of the firmto deepen your knowledge, or you could choose to stay put - whichever suits you best. It's yourchoice.
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Important Details
• Depending on which instituteyou choose, you will study witheither the Institute of Actuariesof India (IAI) or the Institute &Faculty of Actuaries UK (IFoA).
• Once you've completed theexams, you will be fullyqualified and a Fellow of yourchosen institute.
• We aim to recruit brightstudents from all UG andPG degree backgrounds(i.e. BA, BSc, MA, MSc,Commerce, Engineering,Computer Science,Management, Statistics, etc.)who are keen to pursue anactuarial career.
• Please note that we arelooking for students who areinterested in pursuing acareer in actuarial consultingand not just for candidateswho have passed actuarialexams.• We are strict about our
academic requirements whichcannot be relaxed. Applicantsthat fail to meet all threecriteria will not progress pastthe online application stage.
• We do not accept resumes/CVsdirectly and the initialapplication process is entirelyonline (see the last page for theapplication link).
The entry criteria for thisposition are as follows:
• 90% marks in Mathematicsin both classes X and XII(CBSE or equivalent),
• 80% marks in English inclass XII (CBSE orequivalent), and
• At least 55% aggregate inyour undergraduate degree.
• Successful candidates will join thepractice in August 2017 and will bebased in our Mumbai office.
• They should thus have at least anundergraduate degree by August 2017.
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Selection Process
Online Application
Online Tests
Assessment Day
Final Interview
Offer
On-boarding
• Personal details, Education qualifications, Essay questions• Deadline: 20 September 2016
• Online numerical & verbal reasoning tests• Deadline: 23 September 2016
• Written numerical & logical reasoning tests, Written exercise,Group assessment, First competency interview
• Final competency interview (at PwC Mumbai office)
• Successful candidates will join our practice based in Mumbai inAugust 2017.
• Salary information will be disclosed to successful candidateswhen offers are made.
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Online Tests• Practise numerical and
verbal reasoning testsbefore sitting for the PwCtests.
• Before sitting for the finalPwC reasoning tests youwill be able to take one PwCmock test as part of youronline application.
Interviews• Both the first and final
interviews are entirelycompetency based and notechnical questions will beasked.
• We want to know whereyou’ve demonstratedleadership skills, worked inteams, and have managedto deliver work underpressure so ensure youhave enough examples ofthis from prioremployment or from yourtime at university.
Online Application• We spend considerable time assessing every applicant’s essay answers so we suggest
conducting research and devoting time to this part of the application, ensuring that youanswer everything asked in the question.
• Applicants with similarly worded essays will automatically be rejected by the system.
Assessment Day• This will consist of tests, case studies and a first interview. No
prior technical knowledge is required for the Assessment Day.
Application Tips
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Apply Online
You can apply for the role through the following URL:
• http://www.pwc.co.uk/careers/student/graduateopportunitiesglobal/mumbai.html
You can find out more about the actuarial profession at:
• www.actuaries.org.uk
• www.actuariesindia.org
For any queries please send an email to:
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