Finance Student Learns about Risk Management in the Big Apple
Last Updated on October 01, 2018 at 12:00 AM
Originally published October 01, 2018
By Sofia Del Toro-Chavez
Sophomore, Finance, Risk Management Concentration
As part of the Prudential Risk Management Academy in the UTEP College of Business Administration, I had the opportunity to visit Prudential Financial in Newark, New Jersey, as well as New York Life Insurance Company in New York, New York, this summer.
At New York Life, I discovered more about mutual insurance company operations and the role of an actuary within one. I networked with numerous actuaries and learned about the company’s culture and opportunities, including off-cycle internships and rotational programs. This will benefit me in my actuarial career when I have to decide whether to pursue life and health or property and casualty insurance.
During my week at Prudential’s Actuarial Enrichment Program, I studied the technical aspects of the actuarial profession through job shadowing, team building, professional development workshops, and question-and-answer panels. One special moment was when Prudential’s Chief Actuary Candace Woods spoke at a panel about how she overcame obstacles in her career that eventually led her to be successful in her position. Her speech inspired me to power through the adversities that women often face in the business industry.
During one of the events, I acquired insight into Prudential’s technical actuarial functions including valuation and modelling. Participating in a pension risk transfer case study presented the opportunity to develop collaborative and problem-solving skills in a setting similar to that of an actuary’s typical workday. Thanks to events like these, I am able to explore the multiple opportunities within the actuarial field and focus my passion toward a rewarding career.
Among the professional development opportunities, Prudential offered résumé building workshops and mock interviews that enhanced my skill set, which directly impacts Prudential’s decision in allowing me to return as an actuarial intern for the summer of 2019. Additionally, I gained perspective into industry-specific resources, such as Coaching Actuaries, a study tool for actuarial exams, which will improve my competitive edge upon graduation.
The Prudential Risk Management Academy has immensely enhanced my career development by sponsoring multiple events to acquire industry knowledge, providing means of networking, and giving me the tools I need to be successful. I hope to positively affect the lives of other students and everyone around me by sustaining a close relationship with the academy and sharing the wealth of knowledge I have acquired.