I work in finance in the insurance sector, official job title is "Insurance and Capital Manager"
I make sure that insurers have enough regulatory capital available to meet their obligations to the regulator and more importantly to policy holders, so in the event of another global financial crisis we have enough money available so that we don't do an AIG and go belly up.
Pros:
Extremely specialist role, and pays very well because of that.
Involvement in every strategic decision the business makes.
Great understanding of the business as a whole, from reserving to pricing to investment strategy, you need to know it all.
Very solid career trajectory, exposure to the executive committee and NED's on a dialy basis.
Get to be involved in some very important commercial negotiations, helping people hammer out contract terms on deals worth £50m+.
People listen to me.
Cons:
Involvement in every strategic decision the business makes.
High pressure role, errors can lead to the business facing fines or even loss of license, no room for error.
Having to explain technical nuance that comes with years of experience to people with no more than a high level understanding.
Very much a 'learn on the job' sort of role, at times it can be daunting.
Workload, 60 hours a week is a quiet week.
Key man dependency / trouble in finding candidates - very hard role to recruit for, ready made candidates are few and far between, holidays have to be planned either years in advance or last minute when there is an unexpected gap in your workload.
I make sure that insurers have enough regulatory capital available to meet their obligations to the regulator and more importantly to policy holders, so in the event of another global financial crisis we have enough money available so that we don't do an AIG and go belly up.
Pros:
Extremely specialist role, and pays very well because of that.
Involvement in every strategic decision the business makes.
Great understanding of the business as a whole, from reserving to pricing to investment strategy, you need to know it all.
Very solid career trajectory, exposure to the executive committee and NED's on a dialy basis.
Get to be involved in some very important commercial negotiations, helping people hammer out contract terms on deals worth £50m+.
People listen to me.
Cons:
Involvement in every strategic decision the business makes.
High pressure role, errors can lead to the business facing fines or even loss of license, no room for error.
Having to explain technical nuance that comes with years of experience to people with no more than a high level understanding.
Very much a 'learn on the job' sort of role, at times it can be daunting.
Workload, 60 hours a week is a quiet week.
Key man dependency / trouble in finding candidates - very hard role to recruit for, ready made candidates are few and far between, holidays have to be planned either years in advance or last minute when there is an unexpected gap in your workload.