We, the UCSB Actuarial Association, are a group of people focused on one idea: helping students like ourselves grow, learn, and discover what it takes to become an actuary. 

Upon entry into UCSB and the UCSB Actuarial Association, few students know the full extent of what an actuary does and what is entailed in their line of work. Many will ask us “What is Actuarial Science?” and “What do actuaries do?”. Each of us will give our own answer, to the best of our ability, explaining a field that many are unaware of. Some keywords that will fall in these descriptions will be insurance, risk, statistics, and predictions. With these keywords, people may understand what we are talking about but may not see the full picture.

As our members grow and learn while in the association, through their classes, by studying for actuarial exams and experiencing first-hand through an actuarial internship, they understand more and more about the field that they hold to enter into after their time in college and are more able to answer the questions that many have asked them in their journey to become an actuary. 

To help our members on their journey to becoming an actuary, the UCSB Actuarial Association offers assistance in four categories: professional connections, actuarial exams, social connections, and case competitions.

To develop professional connections between students and industry professionals, we usually offer a Career Fair in the Fall where a multitude of companies gather within UCSB’s Corwin Pavilion to talk to and potentially interview our students in their hopes to gain experience in the actuarial field. This Career Fair is paired up with resume and interview workshops, info sessions with hiring companies, guest speaker events with practicing actuaries, and technical skill workshops to introduce students into the actuarial field and develop their skills needed to be productive in the workplace. During this remote year, we will not be having a Career Fair but instead will have a Career Season where we will be having many info sessions from a multitude of companies looking to hire from our pool of students at UCSB. 

Actuarial exams serve as the backbone of an actuaries’ career. They serve as a major asset on our resumes and are a key factor in promotions within the actuarial field. To help our students with studying and preparing for actuarial exams, we have discount codes for online study materials and seminars, an exam reimbursement policy, exam prep guides to check out at the Statistics Department and try to connect study groups for students studying for the same exam. 

In addition to connecting study groups for actuarial exams, the UCSB Actuarial Association hosts many social events for students to connect with and befriend along with the common goal of becoming an actuary including events like bowling and cultural appreciation events. Also, our association hosts a mentorship program where our experienced students can share their experiences and knowledge with our new members. 

Excluding an actuarial internship, case competitions are the best way to experience first-hand what actuaries do daily. In these case competitions, the host presents each team with a set of data and a prompt on what needs to be accomplished with this data. Teams work together to create models and techniques using programs such as Microsoft Excel and R and present their findings in a report (and sometimes a video presentation). After submitting, finalists are chosen and are invited to present at the host’s campus in front of industry representatives from several companies. Our members compete in the UCLA BAS Case Competition and Cal Actuarial Case Competition (UC Berkeley) currently.