The document discusses careers in the risk and financial planning industries. It provides an overview of the industries, including that they involve assessing and mitigating risk, provide stability, and are growing sectors of the UK economy. It also shares the experiences of two professionals in commercial underwriting and financial planning and outlines the qualifications, skills, and career paths in these fields.

1. Careers in risk and planning Caspar Bartington CII Simon Tresadern Ansvar Chris Denham Dip PFS Positive Solutions

2. The CII is… The world’s largest professional body for risk…and financial services (PFS) 95,000 members in 150 countries

3. 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

4. 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 A stable profession

6. Diverse challenges: Natural disasters, economic recession, law, piracy, entertainment, sport UK context: A global profession Over 300,000 employed directly + 1m 2nd largest export 3rd largest market in the world 23% of the total net worth of UK plc

7. 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 Job areas

9. Simon Tresadern Commercial Underwriter

10. My career(s) so far University life BA (Hons) from Derby University in American Studies and Religious Studies Never considered insurance as a career option (does anyone?) Since University Travelling round USA Computer game designer Retail sales 2 years as an insurance broker in Haywards Heath 3 years with RSA in Horsham, 2 years in London

11. Now… Employed with Ansvar Insurance as an Underwriter specialising in Financial Lines Ansvar - Charity and church specialist which employs 80 people in Eastbourne, with sister offices in Australia and New Zealand Part of Ecclesiastical, a company based in Gloucester employing over 1000 people in the UK, Canada, Ireland, Australia and New Zealand

12. Underwriter? Financial Lines? Underwriters determine the basis of an insurance contract. The price, terms and conditions, clauses, or whether we will provide any insurance at all We analyse companies, their procedures, their risk management, and details such as what their buildings are made of. We then try and calculate how likely it is that they will suffer a loss, and then calculate a fair premium to provide insurance cover Financial Lines insurance is specialist insurances for professionals to cover them for errors they might make One of many types of insurance

13. The $6m question: Variety of roles – Underwriters, actuaries, accountants, business leaders, risk assessors, claims handlers, fraud investigators, marketing executives, event organisers, sales teams and more Intellectual challenge – Requires use of brain cells Opportunity – Career development, overseas work, secondments Good causes – Actually helping people continue to operate their business Why on earth would anybody want to work in an industry as boring as insurance?

14. Depends on location and role: Starting salaries vary from £18-25k 3-5 years’ experience vary from £25-50k Professionally qualified with experience vary from £50-100k+ Excellent professional development Work-life balance stronger than other sectors Salaries

15. 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

16. A people profession, so Communication Negotiation Flexibility – international opportunities Languages can help Commercial awareness very important Numeracy not essential Skills

17. Other major players And many more…….

18. www.insurancecareers.cii.co.uk Business explanations Profiles Case studies Job descriptions Links to employers

19. What is financial planning? About people, not just numbers Understanding and supporting changing needs over many years An ever-changing environment An opportunity to earn significant sums Not a 9 to 5 job – you’re in charge! A range of roles from individual to corporate

20. Chris Denham Dip PFS

21. 1986 – joined Nat West’s Trainee Manager scheme; took FPC 1996 – joined Sun Life of Canada; won top consultant prize in 1999 2001 – joined small IFA practice 2004 – set up own IFA practice Introduction

22. Everyone has a view on what to do with your money Consumer confidence Effect of changing demographics RDR will lead to professionalism and changing structures by 2012 Banks and recession Never been better? Why Financial Services?

23. Roles within a product provider Roles within a lender Roles of an Independent Financial Adviser (IFA) RDR will lead to professionalism and changing structures by 2012 Banks and recession Never been better? Providers v Intermediaries

24. Join provider or large IFA practice Qualifications and training Company benefits eg salary, bonuses, cars, pension, insurances Good career path Be your own boss No nine to five Career paths and benefits

25. Networking breakfast Prepare for appointments Meeting with broker consultant Client appointment to discuss retirement planning Client appointment to discuss mortgage Back to office to reply to messages etc A day in the life

26. 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

27. Skills Not just numeracy! Analysis Negotiation Written and verbal communication Adaptability and flexibility Relationship building Commercial awareness in demand

28. 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

29. RSA www.rsagroup.com/rsa/microsite/graduates Willis www.willis.com/careers/graduate_careers/The_Graduate_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/graduatescheme/index.aspx Allianz www.allianz.co.uk/careers/graduates/graduate.htm Aon www.whatifaon.co.uk Lloyd’s of London www.lloyds.com/about_us/careers/graduate_careers/ Some useful websites

30. Looking ahead – planning Very few formalised graduate schemes Getting work experience will really help More likely to be with an SME – no problem

31. 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

32. 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

33. Certificate-level exams available online Take these during vacations Work experience is incredibly valuable Membership and networking really helps Get ahead before graduation www.cii.co.uk/membership www.thepfs.org/membership

34. Great professions with wide range of roles Great opportunities to progress quickly In summary www.insurancecareers.cii.co.uk www.cii.co.uk/www.thepfs.org [email_address]

35. New risk-focused website Interactive career builder More case studies, news, blogs Coming up www.discoverrisk.co.uk [email_address] From early Feb