Claim your CPD points
In the third and final part of this series, I’ll cover what it’s like to apply for work in London and share some application and interview tips.
Catch-up on Part 1 and Part 2 here.
The London insurance market is huge, and I’ve found that the specialist fields are quite well-defined. Positioning yourself within one of these fields can make it easier for you to craft a coherent, specific CV - one that is understood by potential employers and that targets the most relevant opportunities. For example, this could involve crafting your CV around specific fields, such as "Capital management", "Reserving", "Pricing/Underwriting", etc.
Conventional wisdom applies – tailor your CV to the advertised role, covering specific requirements for both technical and soft skills. I would recommend using an AI tool to identify potential gaps between your CV and the job ad –I wouldn’t be surprised if AI is also used by the employer to screen applications!
Cover letters were not usually required for applications via a recruiter, but I often included one with direct applications. While I didn’t have huge success on these applications (most of my interviews came via recruiters), cover letters can make you stand out while also helping you to think through your key selling points ahead of a possible interview.
Employers will want to know why you are relocating, so be prepared with a compelling answer. This question will typically come early in the first-round interview, so being ready is a great way to settle the nerves.
It’s best to approach this question from a professional lens. I suggest focusing on the unique experiences or opportunities you hope to take up from being in this market, rather than your personal goals.
Another common question is about how transferable your skills are to the London market. Again, having a well-considered answer here or conducting research into similarities and differences in your particular specialisation can go a long way.
Depending on their role, your recruiter may not know much about the Australian market, so be prepared to explain any Australian-specific expertise, like government injury schemes.
I also used AI to help practice interview questions, tailoring the prompt for a specific context, i.e., in the UK, in a particular specialist field, with a particular company. As always, be aware of potentially inaccurate AI responses, making sure to cross-check key information you intend to use in the interview. I would suggest this as a supplement to other preparations and not your only tool.
The tried-and-true method of interview preparation will also be helpful, namely:
The Actuaries Institute has a mutual recognition agreement with the Institute and Faculty of Actuaries (IFoA) in the UK. For me, this meant that my Fellowship with the Australian Institute (FIAA) was recognised as equivalent to the Fellow of the Institute of Actuaries (FIA) in the UK, allowing me to represent as an FIA.
This required the provision of some information, including a letter from the Australian Institute confirming membership, no disciplinary action and CPD compliance, as well as payment of membership fees to the IFoA (there are reduced rates for dual members).
Joining as a member of the IFoA gives you access to the actuarial community in the UK, which can be helpful if you intend to use this for networking. However, I would not consider this as strictly necessary to secure work, as the FIAA qualification is generally recognised by UK employers.
I hope that this series helps to open the doors for those interested in making a similar move. The actuarial profession is a global one, and I believe that our own Institute can only be made stronger by a membership with connections and experience worldwide.
Don’t miss this chance to connect with your community at our exclusive networking evening on Tuesday 21 October at The Old Thameside Inn. Hosted by Actuaries Institute Vice President Maathu Ranjan, it’s the perfect opportunity to meet peers, share experiences, and enjoy drinks and nibbles in the heart of the city. Register now: https://www.actuaries.asn.au/whats-on/event/3272 .
