This scenario features a discussion about a risk framework to handle climate change within an insurance company. This gets out of hand, with neither of two extreme points of view (expressed by Lee and Serena) providing a worthwhile solution to exasperated Team Leader Zara. Both Lee and Serena are passionate about their personal opinions on the subject and how it relates to Actuarial work. Each think the other is being totally unrealistic. This scenario focusses on heated opinion driven discussions rather than climate change.

Temperatures Rising

Anushka, an actuary, is very stressed as the project she is managing is getting out of hand and Harvey, one of the key project members, is off sick indefinitely. The project was ambitious, and she was told that she would be given whatever resources were needed, however this didn’t materialise. The timelines are tight, and non-negotiable. Anushka brings in Rhys, an experienced team member, to the project in order to cover for Harvey’s absence, but he isn’t keen to pick up someone else’s work and seems to want to redo most of it. With the deadline date looming, how can Anushka deliver the project whilst still remaining professional and follow the Actuaries’ Code?

Picking up the Slack

Erin, a qualified junior actuary, is due to attend a board meeting with her boss Vanessa, who is presenting a report in which Erin created the charts and tables but had no further input. Vanessa has suggested Erin attends the board meeting to show the interaction as she’s a recent addition to the team. The report requires board sign-off to approve funding for a transaction – if it’s not approved at the meeting the entire transaction would be at risk. Vanessa calls to let Erin know that she has a family emergency and can’t attend the board meeting. Vanessa is outdoors and the telephone line breaks up as she’s suggesting the next steps to Erin – Erin is left not knowing what to do.

What's the Harm in That?

This scene is based on a pitch for a new scheme actuary appointment but concerns about the possible perception of lack of independence/cross-selling of other services.

Paul’s boss tells him that he's been chosen to pitch for a new scheme actuary appointment. He has a few small scheme appointments but this new one would be a big scheme of a large company, which is obviously very exciting. In doing his research Paul finds that a new independent trustee was appointed a few months back who is employed by a separate Trustee company within his employer's group. He looks at the client list of his employer and finds that for over half the scheme actuary appointments his employer's Trustee arm are the independent trustee. He is concerned about the possible perception of lack of independence this could cause and speaks to his boss. His boss tells him not to concern himself and that "there's no need to rock the boat"!

Next Level

Luke, an actuary, is put in a very difficult position by his boss Olivia. He has been given a task that’s potentially outside of his normal job, in an area he has limited expertise and experience. Although he has been given resources to research and complete the work, he still cannot turn the ‘theory into practice’ and apply it all to the very specific circumstances of his company. Encouraged by his work colleague Farah, he decides to come clean about his struggles in completing the work, albeit somewhat late in the day for Olivia’s report to the Directors.

When the Going gets Tough

Mark, Emma, and Aileen are all actuaries working for a small insurance company. Mark and Emma worry about the effect of climate change on the planet and what changes they will see in their lifetimes. Aileen, their boss, is neutral on climate change personally, but sees it as yet another issue she has to consider when overseeing projects and running a busy actuarial team. Mark and Emma have been working on some scenarios for how the firm’s insurance business might be affected by climate change over the next 30years. Initially somewhat daunted by how to do the work, through their own research and some helpful external consultancy input, they have the results written up and ready to take to senior managers and the Board.

Funnels of Doubt

Richard is training Amy in the process of setting assumptions. Amy is keen to make an impact and has been inspired by some of the materials she has been reading about climate and wants to incorporate climate into the assumption setting process. Richard wants a data driven exercise and explains how the process is well established and disputes the statistical validity of Amy’s proposal.

How Urgent is Urgent?

Sam, an actuary, is having an off day when his day starts badly with travel disruption and meetings are re-arranged at short notice. Allie is more sympathetic than other colleagues. However, the following day we see a different side to Sam when things have gone more smoothly. Allie values Sam’s amazing attention to detail and had asked Sam to check a report before it is submitted to a client. Sam, true to form, spots an error which was missed by his actuarial colleagues.

Diverse Minds