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Welcome to the Students' Section. What exactly is this section all about? Well I am looking for your feedback to get the answer to that. To begin with, we will have a short Q&A session with a prominent student in the "Student in Question" and "Students' Corner" will give you an opportunity to have yourself heard. Send your contributions to me at students@psoa.org.pk. Looking forward to hearing from you! – Smiffing Actuary |
Hussain Raza began his academic life at Al-Murtaza School from where he achieved 18th position in Karachi in the 2004 Matriculation exams. Next he completed his Intermediate from Adamjee Science College in 2006. He was awarded 2nd position in the Aga Khan University (AKU) Math’s Olympiad Competition in 2002. In 2007, he began his actuarial career when he joined Akhtar & Hasan. Currently, he is working at Pak-Qatar Family Takaful Limited in the Actuarial Services Department.
How did you come to know about the actuarial profession?
I came to know about this profession through a relative who happens to be a Chartered Accountant.
What other professions did you consider before making the final decision of joining this profession?
As a student I was always consulting and discussing with my father about the possible career opportunities that await me in future given my liking for the subject of Mathematics. Before finally deciding upon the profession of Actuarial Sciences, I was aiming for a doctoral (PhD) in Applied Economics from an Ivy League university such as Harvard.
As fate intended, I soon discovered and realized my passion for Mathematics and the Actuarial profession which promised me the opportunities and the space I needed to excel in it further. For me, being an Actuary is like being a well-rounded person who is both successful and respected in life.
You have moved from A&H to Pak-Qatar Family Takaful. In terms of work and working environment did you have any difficulties to adjust?
Moving from Akhtar & Hasan to Pak-Qatar was a brave and an important decision for me. It was a difficult one as well since both the organizations have their own charm which I so truly respect and admire. The people I have interacted with at both places are extremely cooperative, friendly, and most importantly, thoroughly professional.
At A&H I was fortunate enough to be guided by renowned Actuaries. Here at Pak-Qatar Family Takaful, I feel proud and honored to be a part of the founding team of the Actuarial Department. Although A&H is a consultancy firm and Pak-Qatar a dedicated Family Takaful Company and in spite of working for only a short time at A&H, I believe I learnt a lot and brought a great deal of invaluable experience from there which is being polished and honed here at Pak-Qatar.
How do you manage to work and study at the same time?
It is obviously difficult and taxing for my mind but I find it exciting nevertheless. Honestly, however, this can only be possible if your employer is supportive and is prepared to lax job responsibilities to accommodate your priorities which I feel Pak-Qatar Family Takaful has been exceptional at. This and self-responsibility, I believe, are the two main factors behind successful management of the two priorities.
What do you do in your leisure time?
Having leisure time is itself leisure in the life of an actuarial student, let alone to even think about what to do with it! Ever since I entered this profession I have been almost cut off from my friends’ circle. But I do take time out for personal fitness and go to the gym regularly. Playing cricket and swimming remain my hobbies though.
In what other ‘wider’ fields do you think actuaries can contribute?
Actuaries can contribute in a wide range of services besides Life, Investment & Finance, Health and Pensions, such as in Enterprise Risk Management, Marketing, Actuarial Health Care Science and Banking.
Do you really think that it is difficult to explain to people not belonging to the actuarial profession, what exactly actuaries do?
Hmm… This is an interesting question and I actually spent a lot of time pondering over it. It really depends upon the person you are explaining to. In a country like Pakistan, where there is very little awareness about this profession, it is extremely difficult to make people realize and appreciate what Actuarial Science is about and what it has to offer.
STUDENTS' CORNER
EXPLAINING THE INEXPLICABLE
Khurram discusses the issue that affects every member of the profession.
Actuaries are known to be dull individuals around the globe. Fortunately many people in our country are totally ignorant of the existence of this profession. This saves us from being stamped “out of life people”, albeit at the cost of spending numerous hours explaining to people what this profession is all about. Every time I meet new people, I think twice about shaking hands with them. Because I know the second question they would ask would be what I do and ultimately comes the dreaded the question: “Actuary……what is that?????”
I am sure my fellow colleagues have been through same agony since they became a part of this profession. People over time have developed various tactics to get around this question. One of my mates always told people he was working with an insurance company instead of telling them the domain of subject he was studying. Before he got too far, this idea backfired on him and whenever he told them he was affiliated with an insurance company, he was thought of as an insurance agent. The question that normally followed was "So how many policies do you sell each month?" This question always reassured him of how stretchy his hair was and how hard he could pull them. Good for him, though, he managed to save a few on his scalp and he can still dare to comb his hair without leaving any red scars. The lesson learnt from his story is to know how your own ploy can hit you back before jumping into the battleground.
Sooner or later everyone comes across this question and 90% of the time asked by the people who have little knowledge of actuarial science. Actuaries have solved many complex problems over time. However, this still remains to be their toughest challenge to date. No one has been able to come up with an exact model (deterministic or stochastic) as to how to cope with such an assault. The most important factor to look at is the people you are around. Always remember to keep an eye on the type of people you are with. This can be broken down into the following categories
Your hangout dudes: no one cares what you do so you should just chill as well.
Your family relatives: always try and avoid meeting your aunties, they will keep bombarding you with questions you never even thought of. No one will even remember who you were after they left anyway.
Your actuarial buddies: most of the talking will take place in numbers rather than words here. Complex problems will be discussed here without anyone having a slightest idea of the topic in hand. But don't we just love to talk. By the way, most of the actuaries would be sitting late in the office working overtime anyway.
Wish you all the best in your actuarial careers.
Khurram
Masud is an Assistant Manager at Sidat Hyder Morshed Associates and
can be contacted at khurram.masud@sidathyder.com.pk |
Question: How many actuaries does it take to change a light bulb? Answer: How many did it take last year? |