Actuarial Acrobatics: Is a Non-Traditional Career the Choice for You?

How about working for a circus? Or a publishing company? For actuaries, these ideas are not as far-fetched as they may sound.

Although many actuaries are employed in the insurance industry, opportunities are opening up in a number of non-traditional areas. These areas include the financial services industry, marketing/sales organizations, environmental liability, and benefits management, among many others.

Marie-Andrée LeBlanc, ASA, is human resources development advisor for Cirque du Soleil, headquartered in Montreal, Québec. Cirque du Soleil is a circus with five touring shows and three "resident" or stationary shows. "We're never in a city for more than 6 to 8 weeks," says LeBlanc of the touring shows. "Sometimes, in the Asia-Pacific region, we're even changing countries."

With a work force of 2,500 individuals from 33 nations throughout America, Europe, and the Asia-Pacific, it is important, and yet difficult, to keep tabs on the laws and government programs of so many countries. LeBlanc describes her job as "a bit like having a consulting job with only one big client," making recommendations in line with the orientation of the business. She is also involved with the implementation and follow-up of the decisions that are made.

As one might guess, working with acrobats, clowns, musicians, and actors is not exactly commonplace for most actuaries. LeBlanc explains that knowing international laws well enough to decipher which government programs cover which employees can lead to some complex issues, especially when dealing with difficult-to-insure groups like acrobats.

As the only actuary in the company, she often relies on databanks and other outside resources to obtain information and keep up on laws. Also, being the sole actuary means that she must translate actuarial language into simple words and concepts for others in the company, as well as work closely with Cirque du Soleil's finance and legal departments.

Although the atypical nature of the company creates many challenges, she finds these challenges to be the most rewarding aspect of her job. "I have to find innovative, applicable and simple solutions to complex problems", she says, "and that is what I enjoy most about this position."

Michael Braunstein, ASA, has taken a slightly different route, and has filled a couple of different non-traditional roles throughout his career. For 15 years he was employed as an actuary in the insurance industry, performing tasks such as designing and pricing products, calculating reserves, preparing annual statements, studying competitors’ products, and monitoring sales performance.

Wanting to build on his communication skills, yet remain in the actuarial field, he founded an actuarial recruiting firm. He felt that his background was an advantage, giving him more credibility as a recruiter. After 12 years in recruiting, he sold the firm and ventured into the world of academic publishing. He is now the director for North American Operations at BPP Professional Training, a publisher of actuarial study materials.

Though I no longer handle the pricing of such technical products or calculate reserves using mortality tables and the like, I do spend time pricing our products and examining the market to do so appropriately," says Braunstein. He also manages the company’s cash flow operations and tracks financials to gauge profit levels.

He adds, "Although I don’t monitor insurance sales any longer, I do track the performance of our product and the performance of the individuals who report to me. In other words, I have taken some very specific actuarial skills and employed the same logic to direct a business of a different sort."

Braunstein says that his career has enabled him to incorporate his work into a variety of other activities. This includes volunteer work for the SOA, serving as a council member in the Management and Personal Development Section.

Overall, says Braunstein, "The best part of my job is connecting with people. I love to share my ideas and listen to what others think would make the profession better. Because my job involves working with employers of actuarial students, people within the profession, university professors, and college students, I get ample opportunity to listen and to be heard."

From The Future Actuary, Vol. 11, No. 1,  March/April 2002
Copyright 2002 Society of Actuaries
and Casualty Actuarial Society