[naviga:h2]Patrick Suter, [/naviga:h2]

Actuarial Analyst

ACE Group Management and Holdings Ltd.

"I love my job, plain and simple."

"I work in the Predictive Modelling Department and my job profile is fairly unique. Many actuaries working in the Bermuda Insurance Market focus on either pricing or the analysis of reserves (funds used to pay claims). My work involves analysing the profitability of various lines of insurance and identifying the underlying economic, geo-demographic, legal and even social factors that affect our business."

An undergraduate degree in Statistics, Mathematics, Economics or Finance are all suitable starting points for an actuary, however there are several schools with programmes focused on actuarial science. Beyond an undergraduate degree candidates will have to sit multiple exams covering topics such as Probability & Risk Theory, Interest Theory, Financial Markets, Insurance Ratemaking and Reserving & Accounting Practices. This exam process takes, on average, six years.

Mr. Suter became interested in actuarial science during his final year of high school. One of his Maths teachers had left the school to become a modelling analyst at AWAC, and after spending a few hours at his office he know this was the career for him.

"I guess the thing I enjoy most is that there hasn't been a day since I began work in January of this year, that I haven't learnt something new or felt like I'd accomplished something."

Mr. Suter says his position requires a strong background in Mathematics, Statistics, Finance and Computer Programming. "Mathematics is by far the most useful subject I took in high school, and not because I work with numbers, but because of the study skills you learn from it. You have to continually do problems and apply what you have learnt."

He also says patience is a virtue because "you can't expect to learn everything the first time round, and you will always make mistakes." And that people are often surprised by the passion he has for his work.

"Technically, I plug numbers into a model and interpret the results but I enjoy the process. There are a lot of positives about the actuarial profession; job security, demand and compensation but really I just enjoy it."

(Mr. Suter is a former recipient of the ACE/Robert Clements Scholarship which included three summer of internships used to gain experience within ACE Ltd.)