The Junior Analyst Programme

Unlike most actuaries, I have not come into the profession with a degree. Through APR’s Junior Analyst (JA) programme I have learned key skills in actuarial mathematics, statistics and modelling (examined through their internal M1, M2 and M5 exams , respectively, which have all been developed out of the now defunct CAA exams of the same name).

Alongside this, I have completed a Portfolio of work that demonstrates my development in a variety of technical skills, including several different programming languages, areas of industry knowledge and softer skills, such as communication.

As a whole, the JA programme has worked as a successful replacement to the CAA qualification and has prepared me well to be starting BPP’s Level 7 Actuary Apprenticeship in September, which covers the 10 core IFoA exams needed to become an Associate.

Client Work

APR is a consultancy and secondment firm, offering support to several clients in a number of business areas. As a result of this, the work involved can vary greatly over the course of your career, which is one of the aspects that attracted me to APR in the first place. As a Junior Analyst, I was usually contracted to work 4 days a week with a client (after the initial induction and training period) and had one day to develop my skills and/or study.

My first project was with a large pensions firm in their Model Operations Team. This involved BAU running of the model for IFRS and Solvency reporting as well as programming in VBA to create process improvements for the spreadsheets they used.

The second project I completed was very different; it was for an Insurtech firm in their Model Development Team. This involved using proprietary software with a python backend and primarily entailed testing new model tools and libraries (including their new AI assistant), as well as helping to build other general insurance pricing models.

In addition to this, I’ve had the opportunity to deliver external Excel training to insurance companies, which is something I enjoyed a lot. It was rewarding to have APR put their trust in me to represent them externally in this way, as a junior member of the company.

The Future

After completing the program, the next stage is an apprenticeship through BP. The options for this are Data Science, Actuarial or Business Analyst and I had meetings with the JA team and my manager to decide the right path for me.

As I progress through the apprenticeship, I hope to expand my portfolio of work, explore different aspects of the actuarial world, and eventually choose an area to specialise in.

In-House Work

At APR, it’s not just about study and client work, there are opportunities to get involved in internal initiatives as well. Some of the ones I’ve been a part of include:

• Delivering training to university students as part of our Insights program.
• Hosting our book club covering D&I topics and books, most recently “Invisible Women” by Carolina Criado Perez.
• Mentoring a sixth form student through the EY Data Driven Futures initiative.
• Writing an article on war risk insurance for our client mailer.