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Stat2813 presentation

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by

Kong Tsz Hin

on 8 December 2012

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Transcript of Stat2813 presentation

Internship in Manulife STAT2813 Internship in Actuarial Science Accomplishments 1. Knowledge
2. Computer programming skills
3. Insight into insurance industry
4. Enterprise work experience
5. Interpersonal network
Presentation Flow Post-internship planning Internship Experience Pre-internship recruitment Statistics Department Nomination 10-minute interview with Dr. Louis Ng
Worth-trying! Internship Recruitment Introduction Internship Experience Post-internship plan Conclusion INTRODUCTION Competitive Career Field! VS INTRODUCTION Enough? Need Practical Work experience INTRODUCTION Half year internship from Jan to June 2012

HK Marketing Actuarial, i.e. local pricing team
1. Statistic Deparment nomination 2. Manulife Selection Statistics Department nomination Shortfalls & Suggestions: 1. Language
2. Companies’ needs
3. Lengthen the interview’s duration
Manulife Selection Preparation 1. Internet
2. Interpersonal network from Manulife
3. Dr. Louis Ng
Manulife Recruitment Manulife Recruitment Interview HR interview:
- Basic company background
Manager interview:
- Not knowledge - based
- ECA
- Personality Manulife Company Background Largest Canadian-based insurance company
2nd Largest MPF insurer: 17.6% market shares
Local Pricing Team:
Review, design & model local life insurance products Job Duties 1. Special Quotations
2. User Acceptance Testing (UAT)
3. Modeling Extra-mortality Loadings Job Duties- (1)Special Quotation Handle enquiries for in-force and potential customers Job Duties- (1)Special Quotation Job Duties- (1)Special Quotation Job Duties- (1)Special Quotation Job Duties- (1)Special Quotation 1. Exceeds policy limits
2. Premium discount with commission cut
3. Policy conversion from old to new plans
Job Duties- (1)Special Quotation 1. In-force policy illustrations
2. Manual calculation of surrender value/ death claims
3. Calculation of incremental premium due to plan transfers Non-approval quotes: Approval quotes: Job Duties- (2) UAT Review all par products: traditional life and retirement plans
New dividend and premium rate due to:
- Adjusted investment growth
- Adjust claim projections
- Keen fight with others 2012 Par Review Job Duties- (2) UAT Job Duties- (2) UAT Job Duties-(3)Extra Mortality Loadings *Solely handled project on my own Job Duties-(3)Extra Mortality Loadings Job Duties- (1)Special Quotation Accomplishments- (1) Knowledge Much deeper understandings into insurance products & the calculation algorithm
E.g.,
1. Relationship between dividends, coupon and death benefits
2. Possible for clients to stop paying premium?PUA, OYT, premium offset, etc
3. Various life products, i.e. traditional, retirements basic plans and riders Accomplishments-(2)Computer Programming skills - Excel, Access & VBA are my hands
- Frequently maintain, updates & construct Excel tools
- Know well about spreadsheet formula & pivot table as well Accomplishment-(3) Insight into insurance industry Work with most departments:
1. Design with Marketing
2. Launch with IT & Admin
3. Handle enquiries from sale agents
4. Output figures to valuation teams
**Comprehensive insight!! Accomplishment-(4) Enterprise Work Experience International enterprise:
1. Procedure–based
2. Well–defined structure & regulations 3. Work Attitude:
- Task–oriented
- Self–disciplined
- Long working hours
- High pressure Accomplishment-(5)Interpersonal Network - Good relationship with colleagues
- Frequents gatherings & team-building events Hardship - Time management
- Knowledge insufficiency Hardship-(1)Time Management - Long working hours
- Live in hall & sheung jong
*Time clash!
Overcome by:
Task-oriented deadline fighter!
Lengthen working hours work at home or hall Hardship-(2)Knowledge Insufficency Hardship-(2)Knowledge Insufficency Hardship-(2)Knowledge Insufficency - Not easy to apply our knowledge into practice
- Learn slower compared to CU interns
Overcome by:
1. Learn sincerely & patiently
2. Think more the logic behind
Career Goal - Seek multi-dimensions experience
- Work for banking/ consulting firms Career Goal - Keep good relationship with Manulife
- Part-time internship
*Beneficial to a return offer Suggestions For Others i. Research about the company 1. Culture
2. Job duties
3. Company outlook Suggestions For Others - Excel, Access & VBA are VITAL!
- Not only to AC but also other fields

ii. Preparation of computer programming Conclusion - Occasional experience
- Build interpersonal network, gain knowledge &insight
- Room for improvement
- Sharpen my competitive edge & worth trying
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