Ellen Thrower Center for Apprenticeship and Career Services

Did you know that some of the hottest jobs in financial services are not on Wall St? These are jobs in insurance and risk management, including actuarial positions. Insurance is a trillion dollar business employing more than 2.5 million people in the U.S. alone. Jobs in insurance involve helping individuals and businesses manage risk to protect themselves from catastrophic losses and to anticipate potential risk problems. The profile of risk management as a strategic business function has risen dramatically in recent years, making risk management a top priority for organizations in the U.S. and abroad.

Careers in Risk Management and Insurance:
Risk management is a central part of any organization’s strategic management. It is the process whereby organizations methodically address the risks to their activities with the goal of achieving sustained benefit. Graduates in risk management and insurance find a variety of career opportunities open to them as risk analysts within the business community and government, as brokers/agents providing professional risk management counseling and market placement services for clients, as consultants and personal financial planners, and in the underwriting, marketing, claims adjusting, planning, governmental relations, and financial management activities of insurers.

Possible Job Titles of RMI Graduates:
Account Administrator
Account Analyst
Agent
Broker Trainee
Claims Adjuster
Claims Representative
Insurance Coordinator
Group Benefit Representative
Risk Analyst
Sales Representative
Technical Assistant
Underwriter/Underwriter Trainee

Starting Salary Information:
Recent St. John’s undergraduate RMI median salary was $62,500

Skills Required:
Analytical and problem solving
Excellent written and oral communication
Knowledge of business principles in finance, accounting, marketing
Detail oriented
Interpersonal skills
Math and statistical ability
Decision-making
Computer and software knowledge

Additional Resources:

The Institutes
http://insuremypath.org

Collegrad.com: Insurance Industry Overview
http://www.collegegrad.com/industries/finan02.shtml

BLS Occupational Outlook Handbook: Career Information
http://www.bls.gov/ooh/business-and-financial/insurance-underwriters.htm
http://www.bls.gov/ooh/business-and-financial/claims-adjusters-appraisers-examiners-and-investigators.htm

Risk and Insurance Management Society
www.rims.org

Society of Risk Management Consultants
www.srmcsociety.org

American Institute of Chartered Property and Casualty Underwriters
www.aicpcu.org

Independent Insurance Agents & Brokers of America
www.iiaa.org

Property Casualty Insurers Association of America
www.pciaa.net

Careers in Actuarial Science:
An actuary is a business professional who analyzes the financial consequences of risk. They interpret statistics to determine probabilities of accidents, sickness, death, and loss of property from theft and natural disasters. Actuaries use mathematics, statistics and financial theory to study uncertain future events, especially concerning insurance and pension programs. Actuaries are considered the “financial architects” of the business world.  The field is highly competitive and prepares students to pass exams that lead to certification by the Society of Actuaries.  Actuaries are in high demand and work for insurance companies, consulting and investment firms, government, employee benefit departments of large corporations, hospitals, and banks.  CareerCast 2013 rated Actuary as the #1 career opportunity.  According to the Occupational Outlook Handbook employment of actuaries is projected to grow by 26% from 2012-2022, much faster than the average for all occupations.

Possible Job Titles of Actuarial Graduates:
Health Insurance Actuarial Assistant
Life Insurance Actuarial Analyst
Property & Casualty Associate
Pension & Retirement Analyst
Underwriter Trainee
Financial Analyst
Risk Analyst
Catastrophe Modeler

Starting Salary Information:
Recent St. John’s undergraduate Actuarial Science median salary was$68,000

Skills Required:
Strong math (calculus), statistical comprehension and probability
Analytical thinking
Proficiency in programming languages (VB) and database manipulation
Detail oriented and complicated problem solver
Persistence and self-motivation
Strong written and oral communication
Ability to work with others
Good test taker

Additional Resources:

BLS Occupational Outlook Handbook: Actuarial Careers
http://www.bls.gov/ooh/math/actuaries.htm

Society of Actuaries (SOA)
www.soa.org

BeAnActuary.org
www.beanactuary.org

Casualty Actuarial Society (CAS)
www.casact.org

American Academy of Actuaries
www.actuary.org

American Society of Pension Professionals & Actuaries
www.asppa.org
 

The School of Risk Management, Actuarial Science and Risk Management/Insurance students and graduates are highly sought after for internship and full-time professional positions. Through our extensive partnerships and collaborations with the risk and insurance industries, our students have numerous opportunities for career success.  Employers who have participated in recruiting and hired our students recently include the following:

• AIG
• AEGIS Insurance Services
• Aon
• Arch Worldwide Insurance Group
• Arthur J. Gallagher & Co. 
• Aspen Insurance
• AXA XL
• AXIS Capital
• Buck Consulting
• Burns & Wilcox
• CNA Financial
• Chubb Group
• Crum & Forster Insurance
• Everest Re Group
• KPMG LLP
• Liberty Mutual Insurance
• Lockton Companies
• Marsh & McLennan Companies
• Mercer
• Munich Reinsurance America
• Nationwide Insurance
• New York Life Insurance
• PricewaterhouseCoopers
• Prosperity Life Insurance Group
• Protiviti
• QBE Insurance Group
• QualRisk
• Starr Companies
• Selective Insurance
• Sompo International
• SONY
• Synchrony Financial
• Swiss Re
• The Hartford
• TigerRisk Partners
• Tokio Marine Management
• The Travelers Companies
• W.R. Berkley Corporation
• Willis Towers Watson
• Zurich NA

A hallmark of your education here at the School of Risk Management, Insurance & Actuarial Science is the individual attention you receive through the Ellen Thrower Center for Apprenticeship & Career Services on the St. John’s Manhattan campus.  Our goal is to enhance your education through career development programs, internship experiences and connections to employment and industry leaders.  We are pleased to offer the following services for our students:

Career Advisement
Meet with one of our career counselors to discuss career paths in the field of insurance and risk management, internship and full-time job opportunities and networking strategies.  We will guide you through the career preparation process and provide the tools you need to connect with employment opportunities.

Resume Writing and Interview Preparation
A top notch resume is a must for your job search toolkit. Through individual appointments or in a workshop setting, we’ll help you develop strong marketing tools including your cover letter and elevator pitch. We’ll help you prep for upcoming interviews and conduct a practice session.

SRM Career Fairs
Each fall and spring semester we host an insurance industry career fair in the Manhattan Campus.  Over 30+ employers visit to recruit for internship and entry-level positions.  This event provides an invaluable networking opportunity, no matter what your year in school.

Internship Programs
Gaining industry experience outside of the classroom is a critical part of your education.  Our Internship & Apprenticeship Program helps you prepare and connect with employers who are offering one semester internships or multiple semester “apprenticeship” opportunities.  Students who wish to participate in an internship/apprenticeship facilitated through The Ellen Thrower Center should contact us for an appointment with a counselor. We will provide personalized guidance and referral to the many employers who work with us in the insurance and risk industries.  Most internships/apprenticeships during the school year require approximately 15-20 hours per week and are generally paying an average salary of $15.00 per hour. In order to be referred, you will need to develop your resume with our counselors and participate in a pre-placement advisement session. Students who complete an Apprenticeship will have the experience noted on their academic transcript.

Students may also enroll in an academic internship course through the Tobin College Academic Advisor. 

Networking and Mentorship Opportunities
Have you wondered what it’s really like to work in the insurance/risk management field? The SRM Mentorship Program is a collaborative effort between the TCI/SRM Alumni Board, employers and organizations and The Thrower Center. The program is designed to match selected students with an experienced SRM alumnus/a or industry professional to provide one-on-one guidance. Students are also are encouraged to create a professional profile on LinkedIn and join the “St. John’s School of Risk Management” LinkedIn group to connect with fellow students, alumni, employers and faculty.

Job Search Assistance

We’ll help you connect with full-time professional employment opportunities through a variety of activities. Be sure to update and submit your resume to participate in the candidate referral process. Employers contact us regularly with opportunities and resumes of qualified SRM students and alumni are immediately sent directly to recruiters.

Information Sessions and On-campus Interviews
Throughout the year employers will visit the Manhattan campus to inform students about their organization and employment opportunities as well as conduct interviews in our offices.

Resources and Guides
Take advantage of our handouts and publications on everything from dressing for success to interview essentials.

We are pleased to offer individualized services to help you connect with our pool of high-performing Risk Management & Actuarial Science students and graduates. Our School of Risk Management (SRM) students are highly sought after due to their combination of exceptional industry knowledge, technical skills and strong work ethic. 

Why Hire a St. John’s SRM student?
Here at the St. John’s University School of Risk Management, our students are immersed in a curriculum based on case studies taught by faculty who understand the industry.  Our students gain real-world competencies, a strong business core curriculum, and complete eight-to-ten courses related to the insurance and risk industry.  In addition, our students are:
    •  diverse, motivated and possess a strong work ethic
    •  serious about a career in the insurance industry
    •  trained on ethical business practices
    •  have knowledge of risk modeling and financing tools
    •  prepared to sit for the first actuarial exam at the end of their sophomore year

Identifying the best candidates for your organization is the goal of the Ellen Thrower Career Center here on the Manhattan Campus of St. John’s University. Our staff provides personalized attention to make your recruiting experience successful. We offer the following services to our employer partners:

Career Fairs
Each fall and spring semester we host an insurance industry career fair held at our beautiful Manhattan campus located conveniently at 101Astor Place in Greenwich Village. Employers may recruit for interns as well as professional candidates.  Both undergraduate Risk Management & Actuarial Science as well as graduate degree candidates attend the fairs. Capacity is limited, so be sure to register as early as possible.

Hire an Intern
We recognize the importance of gaining real-world, on the job experience in the insurance and risk management industry as part of our students’ educational experience. Employers gain an opportunity to evaluate a potential full-time hire and contribute to the development of a future industry leader. Our students are eager to participate in internships expanding their knowledge beyond the classroom during the summer, fall & spring semesters. Our Apprenticeship Program is a multiple semester model where students work part-time while attending classes.  Students may also complete an academic internship for credit with faculty oversight. Students register with our office, complete a mandatory preparatory workshop and must be in good academic standing.

The SRM Apprenticeship Program is a selective, competitive program open to undergraduate junior or senior year students majoring in Actuarial Science or Risk Management. Students complete work periods of no less than two consecutive academic semesters which may begin during fall, spring or summer.  Work schedules may include full-time (35 hours/week) employment during summer and part-time (15-20 hours/week) during spring and fall semesters. Hours are arranged to fit both the student’s and the employer’s needs. Employers are asked to provide written feedback on each participant and, upon successful conclusion of the apprenticeship, participation is noted on the student’s academic transcript.

Candidate Referral & On-Campus Interviewing
We work closely with our students and alumni and can personally refer them for your full-time professional and internship positions.  In addition, we have an active jobs listserv where we notify our student body of all opportunities you wish to post with our office.

On-campus interview facilities are available during the academic year.  The Thrower Center can coordinate the employment postings, manage applications and schedule pre-selected candidates for interviews.

Information Sessions & Campus Connections
Conduct small-group information sessions to inform our students about your organization and job and internship opportunities. The Thrower Center can help you market and make arrangements for your information sessions, reach out to students and connect with Gamma Iota Sigma and The Actuarial Club for collaboration.

We offer lifelong career support for our alumni, providing career advice and opportunities to make valuable connections in the industry. We encourage you to stay connected and be part of the former College of Insurance (TCI) and St. John’s SRM family. As an alumnus/a you have much to contribute and give back. 

• Hire an Actuarial Science or Risk Management student for an internship or professional position
• Participate in a SRM/TCI Mentorship Program or networking activity
• Connect with alumni through the St. John's School of Risk Management LinkedIn Group

Vicki Wells, Director
[email protected]