Projects delivered by Actuaries of the World (Actuaires du Monde) 

Webinars for the department of actuarial sciences at the university of Monay pour le département des sciences at the University of West Indies, Mona Campus (Jamaica) - November 2020 to February 2021

The last few months of 2020 represent a transition period between the discontinuance of the old Actuaries without Borders Section of the International Actuarial Association (AwB) and the birth of the new entity “Actuaires du Monde” (Actuaries of the World in English or AdM hereafter), an independent non-profit organization headquartered in Paris, France.

In September 2020, Britta Hay, Lecturer in the Actuarial Sciences Programme at the University of West Indies, Mona Campus (Jamaica) (https://www.mona.uwi.edu/programmes/view/1650) contacted AwB on behalf of the UWI Actuarial Society (UWIAS). Their wish was to organize two (2) one-hour virtual seminars in November 2020 led by senior actuaries, having experience and exposure to frontier markets, preferably Jamaica or comparable countries.

The two webinars requested by UWIAS had the following aims:

  • To demonstrate that undergraduates in actuarial sciences and actuaries are not restricted to work in insurance only;
  • To show that besides the traditional academic trained skills, ‘other’ skills are necessary to succeed as an actuarial professional; and
  • To orient final-year students during their journey of becoming a member of a global profession.

The first seminar on November 5 attracted more than 70 attendees from Europe, USA, Trinidad but primarily Jamaica. Sarayyah Baksh, FCAS, ACIA, an actuary originally from Trinidad but currently employed in Paris, delighted the students with tales of her path to becoming an international non-life actuary and tips on how to navigate their own upcoming future career paths. Renata De Leers, Founding Member of AdM, also contributed by informing everyone about the new non-profit AdM coming soon.

The second seminar on November 19, closer to UWI exam crunch time, attracted more than 40 attendees from Europe, USA, Trinidad, and Jamaica. Co-presenters Michael L. Frank, FCA, ASA, MAAA of Aquarius Capital, and Octavio Rojas, Associate Member of, and consultant to, the Caribbean Actuarial Association, informed the students about the range of possible work opportunities for actuaries, both inside and outside the insurance industry. Their joint presentation provided numerical and anecdotal examples from the Caribbean, Venezuela, and around the world. The presentation highlighted both traditional and non-traditional roles for actuaries as well as emerging issues in the profession along with important professionalism issues.

The first two sessions were so successful that they have opened the way for at least two additional sessions in 2021: one for UWI Mona and the other for the UWI St. Augustine campus in Trinidad. Stokeley Smart, FSA, CERA, PRM, LL.B. is the Subject Leader of the Actuarial Science programme, which has about 100 actuarial science students. Stokeley has requested a Trinidadian adaptation of the November 5 presentation for the students in St. Augustine.

The last session took place in February 2021 at the Mona campus was on Soft Skills with a focus on Communication. Caroline Gregoire, Associate Member of the Swedish Actuarial Society and a Professional Communicator will facilitate.