Careers in risk and planning

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Careers in risk and planning

• Caspar Bartington
• CII
• Pradeep Koshy
• Aviva
• Cathy Sansom Chartered Financial Planner
• Boolers Pensions Investments

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The CII is

• The worlds largest professional body for
  riskand financial services (PFS)
• 95,000 members in 150 countries

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What is risk about?

• So much more than what is on TV
• Peace of mind and trust risk transfer
• A people profession
• Global
• Personal and commercial
• Large 300m paid out in claims every day

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A stable profession

• Long-term strategy reduces exposure
• Investments worth 23 of total net worth of UK
  economy
• Greater reach than any other FS sector eg 70 of
  households buy risk coverage
• Social assistance eg 195m paid each day to
  pensioners and long-term savers
• The most popular place for long-term savings

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A global profession

• Diverse challenges
• Natural disasters, economic recession, law,
  piracy, entertainment, sport
• UK context

• Over 300,000 employed directly 1m
• 2nd largest export
• 2nd largest market in the world
• 23 of the total net worth of UK plc

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Job areas

• Specialist
• Claims, fraud, loss adjusting, underwriting,
  broking, risk management, surveying
• General
• Accounting, marketing, HR, IT, business
  development etc
• Progression based on ability, not time served

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Pradeep Thomas Koshy Business Management Scheme
(Aviva)
31.07.2009
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Background

• Education
• Computer Engineering (University of Kerala -
  India)
• Master of Business Administration (Oxford)
• Career
• Allianz Insurance
• American Express
• Aviva

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Why insurance why this scheme?

• Solid profession with a wide scope and great
  interaction opportunities
• Learn a core skill/knowledge
• Legacy of the industry
• Diverse roles and great opportunities to grow
  provided you have an appetite for it
• Benefits
• Aviva Business Management scheme has a wide
  scope
• Wanted to be part of the biggest insurer in UK
• Fantastic individualised support
• In the last year, Claims (Manchester), Service
  (Leicester), Sales Marketing (London)

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The good and the bad

• Tell me what you think about the following
• Solid and stable?
• Dynamic?
• Benefits?
• People?
• Customer Experience?
• Long-term career satisfaction?

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Aviva Insurance

• Biggest insurer in UK and 5th largest in the
  world
• Behind household names such as RAC, Bluecycle
• World headquarters is in London. Main offices
  are in Norwich (GI) and York (Life)
• Offers six different graduate career paths
  around 30 per year
• Business Management
• Business Change and IT
• HR
• Actuarial
• Accountancy
• Marketing

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Salaries

• Depends on location and role
• Starting salaries vary from 20-25k
• 3-5 years experience vary from 25-50k
• Professionally qualified with experience vary
  from 50-100k
• Excellent professional development

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Qualifications

• CII Certificate in Insurance (A level )
• CII Diploma in Insurance (degree yr one)
• CII Advanced Diploma in Insurance (degree)
  also known as ACII
• Fellowship (FCII)
• Chartered status Insurer, Insurance Broker,
  Insurance Practitioner

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Skills

• A people profession, so
• Communication
• Negotiation
• Flexibility international opportunities
• Languages can help
• Numeracy not essential

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Major players
And many more.
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www.insurancecareers.cii.co.uk

• Business explanations
• Profiles
• Case studies
• Job descriptions
• Links to employers

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What is financial planning?

• About people, not just numbers
• Understanding and supporting clients changing
  needs over many years
• An ever-changing environment
• An opportunity to earn significant sums
• Not a 9 to 5 job youre in charge!
• A range of roles from individual to corporate

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Career Progression

• Left Manchester Polytechnic and joined Scottish
  Widows
• Became Broker Consultant and took qualifications
• Moved to Abbey to gain CAS status
• Became Independent Financial Adviser
• Completed AFPS and Chartered Financial Planner
  Status.

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How to be successful

• Average age of IFA is 50
• Graduate training
• Retail Distribution Review
• Consumer confidence
• Make a difference

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Professional Career

• Qualifications
• 2012 Dip PFS
• Commission and fees
• FSA and consumer confidence
• A vital service and a new era

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A day in my life

• No two days are the same
• Client meeting to discuss property purchase for 3
  solicitors
• Client meeting to discuss investment of
  2,000,000 from sale of agricultural land to
  Tesco
• Telephone calls to make appointments for reviews
• Prepare for meetings for the next day

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Benefits of the job

• The People
• Salary
• Bonus
• Company Car
• Company Pension Scheme
• Autonomy

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Qualifications

• Licence to practise area
• CII Certificate in Financial Planning key now
• CII Diploma in Financial Planning key for you
• CII Advanced Diploma in Financial Planning
• Fellowship FPFS
• Chartered Financial Planner

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Qualifications subjects

• Subject areas include
• Retirement planning
• Trusts
• Mortgages
• Personal tax
• Investments

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Looking ahead risk

• Many graduate schemes
• Most open Q3
• Most close by year end
• Limited internships and placements
• Getting work experience will really help
• Size of company not important

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Some useful websites

• RSA
• www.rsagroup.com/rsa/microsite/graduates
• Willis
• www.willis.com/careers/graduate_careers/The_Gradua
  te_Program/
• RBS
• www.makeitrbs.com
• AXA
• http//jobs.axa.co.uk/graduates/index.html
• Zurich
• www.zurich.co.uk/graduates/home/welcome.htm
• Ecclesiastical
• www.ecclesiastical.com/aboutus/careers/graduatesch
  eme/index.aspx
• Allianz
• www.allianz.co.uk/careers/graduates/graduate.htm
• Aon
• www.whatifaon.co.uk
• Lloyds of London
• www.lloyds.com/about_us/careers/graduate_careers/
  

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Looking ahead planning

• Very few formalised graduate schemes
• Getting work experience will really help
• More likely to be with an SME no problem

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Credits with your degree

• Insurance framework
• Typically 3 years to get to ACII level
• You will get credits equal to two or three units
  (saving several months of study) with a degree in
  one of the following
• Accounting
• Business
• Economics
• Finance
• Law
• Management

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Credits with your degree

• Financial planning framework
• Typically 2 years to get to Dip FP level
• You will get credits equal to two or three units
  (saving several months of study) with a degree in
  one of the following
• Accounting
• Business
• Economics
• Finance
• Law
• Management

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Get ahead before graduation

• Certificate-level exams available online
• Take these during vacations
• Work experience is incredibly valuable
• Research graduate schemes in advance
• Membership and networking

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In summary

• Great professions with wide range of roles
• Great opportunities to progress quickly

www.insurancecareers.cii.co.uk www.cii.co.uk/www.t
hepfs.org talent_at_cii.co.uk