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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 |
Cricket, music and mathematics are Maaz's three main passions, but perhaps it was his interest in difficult challenges that drew him to the actuarial profession. He did his A-levels from Saint Michaels' Convent School with a result of 4 A's. He then joined Akhtar & Hasan in 2004 as an Actuarial Risk Analyst. In November 2006 he moved from consulting to life insurance when he joined EFU Life Assurance Limited as an Assistant Manager in their Actuarial & Strategic Planning department.
How did you come to know about the actuarial profession?
I came to know about the actuarial profession from my father, and my elder brother who had been in the profession for over two years at the time I completed my A-Levels.
What other professions did you consider before making the final decision of joining this profession?
A Hollywood movie star! Yes, I gave it a serious consideration. Bio-mechanics and medicine were two other fields that were on the cards, but (I guess) for the good of the actuarial profession, I ended up at Akhtar & Hasan!
You have recently moved from consultancy to life insurance. How are they different and did you find it difficult to adjust?
Adjusting was never a problem. After completing my first month at EFU, I felt as if I have been working here for quite a while! The environment and the nature of the work are definitely very different. I certainly miss the guidance of my ex-bosses and the whole Akhtar & Hasan team.
EFU has been an equally enjoyable experience up till now. There is a much larger team, with quite a few actuarial personnel always willing to lend support and advice. Your thought process is made to evolve to cover all aspects of this business - not just number crunching. On the other hand, in a consultancy you get a better exposure to several different areas of actuarial practice.
How do you manage to work and study at the same time?
Well, thus far I have been depending only on my study leaves to study for my exams. At Akhtar & Hasan, I always found the support I needed. With my first exam session in my service at EFU coming up, I can always look to my new boss for help.
Surely, as I make my way to the higher exams, I will have to alter my approach to the exams!
What do you do in your leisure time?
Since I seem to have plenty of it, I prefer to play and watch cricket, learn playing guitars and listen to music, among other things. I love going to concerts, especially with my elder brother (Moiz). Adding him into the equation ensures that we have a ball!
Do you feel lucky to be a part of this profession?
Yes, it is great to be a part of the profession! The entire actuarial community has united; thanks to the PSoA. The senior acturaies have been like my spiritual fathers. I can always look upon the younger actuaries as well, for almost anything- education related matters, career advice, financial advice etc.
Who are your role models?
Samee-ul-Hasan sahib, and James Bond.
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? |