Beyond The Numbers: Becoming A Successful Actuary Requires Communication

                 Congratulations! There are few who actually discover that actuarial science exists, let alone actually decide to pursue a career as an actuary. You and those who typically find this field either know someone who is an actuary or hear about it in an accounting, finance, or economics course. Most likely you possess a true love of mathematics and problem solving which has driven you to pursue a professional career as an actuary. Perhaps one of the reason’s you have chosen to pursue actuarial science is because you shy away from certain interactions with other people. This however is one of the biggest dangers you can make as a newcomer to the actuarial field. Having strong analytical skills is obviously essential to being an actuary, but few who are new to the field realize the necessity and daily uses of communication that actuaries are required to master. There are certain skills which are completely non-analytical in nature that are needed in order to land a first job or internship, be successful in that job, and continue to progress toward a successful actuarial career.      

              Depending on how familiar you are with the history of actuarial science may be a factor as to how prepared you are for the communication requirements of the field. Actuarial science can only honestly be traced back to the 1700’s where a London man named James Dodson made the first steps in the direction of modern day actuarial analysis. His work for the society Equitable Life is the corner stone of the current actuarial industry. Dodson was among the very first to use this science (math and statistics) to determine premium rates and long-term policies for insurance. This was not only the start of the actuarial field but also the predominant stereotype of actuaries as being nonsocial, number crunching, introverted, and math-obsessed individuals. If you haven’t already heard or learned about this stereotype you will. The problem isn’t knowing about it, the problem is found in how you feel about it. Finding any kind of comfort in this stereotype in helping you to decide whether to be an actuary or not is a mistake, and will start to instill the dangerous lack of emphasis on the non-mathematical skills required to become successful as an actuary. Although this stereotype may have some backing from the history of actuaries from the past, over the last few decades and especially looking ahead into the future, this preconceived notion about actuaries could not be further from the truth. More and more actuaries not only need to communicate internally and externally in their places of work, but must do it effectively or risk losing their companies clients and even their job positions.

Importance for Student & Entry Level Actuaries

              For obtaining internship or entry-level work, which is becoming extremely competitive, communication and persuasion are essential in helping companies to choose to hire you. If any student entering into the actuarial science world conforms to the stereotype of the actuaries from the past, no matter how good at math or statistics they are, they may never even get their foot in the door of the modern actuarial businesses of the world. There are currently many actuarial students all over the U.S. applying for internships that have analytical experience, some actuarial exams passed, and a high GPA (which are the top three things to have on an actuarial resume), yet still struggle to obtain an internship or job. The reasons for their struggles are not because of a lack of analytical ability, but rather an inability to “sell” themselves in the interview process and help recruiters see the value that they can bring to a company. The actuarial interview experience is unique and isn't something that you will likely be able to take a class on. It is absolutely necessary for an actuarial student to ask mentors, teachers, and recruiters as early as possible about ways to grow their persuasive interview type communication skills.

Importance for Aspiring Actuaries

             The need to be persuasive and communicate at a high level goes far passed your first interview and securing that first job. Consulting actuaries’ most common circumstance for communication will be with clients. Many of these interactions will be through email, phone, or even video calls for the lower level associate actuaries. For the partners or fellowship actuaries, a lot of travel and actual face to face contact with clients is necessary. These face to face interactions is where the persuasion takes place. It is here that the client really needs to feel like they can trust the firm that is analyzing their risk. It is the actuary’s job to persuade them that their company needs their risk minimized by the actuary’s specific consulting firm and why they aren't better off going to another actuarial consulting firm. This interaction between the head actuaries and the clients is at the heart of the business of consulting actuarial work. It is also important that not only skills of persuasion can be applied in these situations, but that clear communication, with respect to the clients understanding of analytical terms, is achieved. Without strong communication and persuasion skills it is harder to accomplish the goals of these personal interactions.

              Actuarial clients need to feel like the work they are having done for them is valuable and being done at a competitive level. They need to have no reason to feel like they should doubt the actuaries’ abilities. When they do, conflict arises and it is the actuaries’ job to persuade the client to believe that the services they are receiving from the actuaries’ respective firm are the best option for them. An example of such a situation is given below in a made up dialogue:

• Client: “I have seen that there are other actuarial firms offering similar analysis for less pay, and I am thinking about switching to them because I have heard that their quality of work is quite comparable and even better than yours…”

Here you might pause and ask yourself “How would I respond to these concerns?” to evaluate how prepared you currently are to take on some of these future challenges that require persuasive communication skills. Below is an example of what may be an appropriate response by an experienced actuary:

• Actuary: “I see. If I had heard that same thing and was in your shoes, I too would be questioning who I was paying to analyze my risk. However, I can assure you that ____ services are not only more efficient, but that the quality of work that is done throughout the whole company at ____ is far superior to ___­_. Not only would it be a mistake to switch, but because of how sought after our services are it might be too hard for you to come back to ___ if you do decide to leave. It would be wise to stay with ___ where your work is done at a higher standard and where you are able to interact personally with the people working with your company’s risk.” 

Once conversation is flowing and the bulk of the conversation is in the actuaries court that is the time he has to pounce, making sure to do all he can to please and retain the business of the customer. Providing and stating evidence clearly, with a pleasing style, helps his argument to put the client at ease, minimizing the amount of questions of doubt that may arise in the clients mind as the conversation goes on. Tone and delivery must be friendly, timely, and confident. As the actuary focuses on these aspects of his style he will undoubtedly leave this last meeting with a firm handshake and an assurance for continued business with the client through the upcoming year. This is only one example of how essential communication and persuasion skills are to the actuarial profession.

Conclusion

           Although most of the focus for the next few years of your life, if you continue to pursue actuarial science, will be on passing multiple national actuarial exams and learning new ways to analyze risk you must not forget how important the interpersonal skills of persuasion and clear communication are to becoming a successful actuary. From obtaining your first job to being effective at the work place, your need for effective communication and persuasion skills starts now. Don’t put off working on your interview skills, or facing your current boss, coworkers, and clients at your current place of work. These moments are the best opportunities to grow these skills which, with no exception, are absolutely necessary for this field no matter where you are at on the path to obtaining your credentials and licenses as an actuary.

Works Cited

            Interview with Justin Owens - Asset Allocation Strategist at Russell Investments – 12/3/2014

            Choike, J. (1980). The Pentagram and the Discovery of an Irrational Number. Two-Year College Mathematics Journal, 11(5), 110-315. Retrieved December 2, 2014.

Stylistic Arguments for Music & Studying

Tropes about music’s effect on studying:

-Read my original post about music and studying here: Music & The Mind

1.       Metaphor/Simile

·         “If studying is like attempting to read a road map, then music is a GPS.”

·         This is a combination of a metaphor and a simile. The simile is referencing the act of studying and the metaphor directly compares music to a GPS. I like the use of both here as many people have experienced the pain of trying using a road map, but then experienced the simplicity of having a GPS, which is implied by the metaphor.

2.       Paronomasia

·         “Studying with music brings reward, while studying without brings discord.”

·        Both reward and discord end in the same sound, but differ in meaning. What I like most about this statement is the omitted word music from the second part of the statement, and then the word discord to complete the pun has reference to music itself.

3.       Anthimeria

·         “By the looks of these grades, I’d guess you have really been musicing up your studies.”

·         This makes music into a verb, and implies the idea that adding music to this person’s studies has become a regular thing, and produces good results.

4.       Hyperbole

·         “Music isn't a simple aid! It is a catalyst to achieving otherwise unattainable results!”

·         Obviously this is an exaggerated claim, like a hyperbole should be. It also helps that the understatement of the power of music is made clear before the over exaggerated statement of its usefulness.

5.       Oxymoron

·         “Studying is an act of understanding confusion, when music is not involved.”

·         Understanding and confusion are clearly the opposite of each other, and when placed together create a paradoxical idea. Studying for many people can be an attempt to understand things that are confusing and new to them. Music is an aid to the confusion.

Schemes about music’s effect on studying:

1.       Parallelism

·         “Studying is required; music is optional; but both is success.”

·         The parallel parts, which there are three of, are all in the form of “____ is ____”. Although it words a little funny to me I think that the idea is clear, and brings a strong argument to the table.

2.       Anastrophe

·         “Greater focus, music brings to studying.”

·         Much like master Yoda from the Star Wars series the beginning or focus of the sentence becomes “greater focus” rather than music or studying. I think this scheme really helps your audience focus on the benefits of whatever you are arguing.

3.       Ellipsis

·         “Studying with music is assuredly effective, while studying without can go anywhere.”

·         I really think this ellipsis is powerful in my example/topic because it is able to represent exactly what I am arguing: studying with and without music. When music is in the first part of the sentence it ends with a positive word, while when music is missing but implied in the second part of the sentence it ends on a less positive note.

4.       Alliteration

·         “A study with sublime sounds shall score stupendous success, while a study shorn of a single strain of song will settle for sufficiency.”

·         The repeated S’s at the begging and throughout most of the words in this sentence make it sound very smart. I think this specific example is powerful because it is able to incorporate two things (music and studying), without ever using the word music.

Music & The Mind

               Over the last few semesters of my college career I have come to notice that if I listen to peaceful music as I study I am able to focus for longer periods of time [Cause/Effect]. While some of my friends and acquaintances have mentioned they agree that music helps them study in their study experience [Witnesses] others have found no such correlation [Contradictions].

Many people wear these; few people listen to him.

                According to studies done at Oxford University [Authorities] there is evidence supporting the idea that music helps to create an enhanced experience while studying. This enhanced experience was shown while subjects listened to Mozart and studied, which led to improvement of certain types of mental procedures referred to as “spatial-temporal reasoning” [Definition]. Although this seems to be a little different than what I have experienced [Division], I agree that the overall study experience is improved with music. I wonder if it was more common knowledge that by listening to music during studying you could achieve better marks in school if more people would listen to study enhancing music during their studies. Dr. Charles Eloit’s (former Harvard University president) famous saying that "Music rightly is the best mind trainer"[Maxims and Proverbs] might be enough evidence for some to be sold on the effects of music on the mind. 

                As for myself I have now found that when I don’t listen to music it actually hinders my studying ability. Because of this I plan to make music a regular part of all my studies from here on out [Past Fact/Future Fact]. Even though my love for music can almost be distracting at times [Contraries], overall music helps me in my learning process. For those reading this that might have never tried listening to some mind enhancing music, I would invite you to try it out. If you don’t you may be missing out on some better scores on exams, and more invigorating personal studies [Antecedent/Consequence].

Profile for Persuasion: The Provo All Stars

Main characteristics and values

This depiction is sadly true. But quite comical.

                Utah County has around 60 to 70 thousand college students living in close proximity of each other at any given time during the college year. One segment of this large community of students has made quite a name for themselves and are often referred to as the “Provo All Stars”. Provo All Stars are male’s ages 18-30 living in and around the Provo area that have served or returned from LDS missions and are not actively seeking marriage or other responsibilities. They often participate in Summer Sales jobs, wear tank tops and “snapback” hats, and spend much of their time at the gym. Most of these supposed “all stars” are typically known for their self-centered natured, and at often times degrading attitude towards others. They tend to be occupied on hooking up with girls and making sure their muscles look good. Looking around through social media there seems to be a pretty clear cut line as to how people in their community feel about them: All Stars like other All Stars, but everyone else tends to associate the name and those who call themselves Provo All Stars with a negative connotation.

Likely/Unlikely to persuade   

The Provo All Star symbol

                Provo All Stars tend to be the type that don’t listen to anyone but themselves. They are all about having a good time and, to quote their words exactly, “living the life”. They are likely to be persuaded if there is something in it for them, as in money, women, or something that will help them live the “dream”. Provo All Stars flock together and are likely to be persuaded if you are or at least know another All Star. They are unlikely to be persuaded by anyone else, and do to anything that they don’t personally like or have interest in.

Test case: Provo All Stars & attending a play

                This would give me a great laugh. This is the last type of person I ever see going to a play, and I would find it extremely hard to persuade a Provo All Star to attend any type of play. Perhaps one of the few ways that might work in convincing an All Star to attend a play is by showing how by going to a play he could relate to more women who are into plays and those types of arts.

Pericles' Topics of Invention

Pericles’ Funeral Oration is chalked full of rhetorical ideals which were systematized by philosophers such as Aristotle. This analysis on Pericles’ ceremonial or epideictic address will focus on only a few of the rhetorical topics of invention put to use in the speech.

A depiction of a Spartan and Athenian soldier.

Comparison

Pericles uses the art of comparison for much of his funeral oration, and to great effect. He compares Athens to Sparta and spring boards from his comparisons to an all-out rally for Athenian pride. The power of the comparisons that Pericles makes come from pointing out the distinct differences from the Spartans to the Athenians and why these differences make the Athenians so much braver than the Spartans that fought in the war. For example Pericles points out how much braver the Athenians are for going to battle without the immense training that the Spartans get to go through. Within his comparisons Pericles also uses the topic of invention of measuring by degrees when he compares the strength of the Athenian armies to those of the Spartans by saying “As a matter of fact, none of our enemies has ever yet been confronted with our total strength, because we have to divide our attention between our navy and the many missions on which our troops are sent on land.”

Testimony

                There are moments where Pericles’ arguably puts this topic of invention to good use, but for the most part I feel that his oration lacks good use of testimony and want to address why using more of it might have strengthened his arguments. The parts that stick out to me where testimony is used is near the end of the speech where he makes reference to the parents of the dead. Although their words aren’t quoted directly Pericles uses them as witnesses to the arguments he makes about courage, war, and Athens. In a roundabout way I feel that he uses Athens as a similar “witness testimony”. At times in his oration Athens becomes more of an entity or individual, strengthening the ideas Pericles presents. This perhaps isn’t the best use of testimony, which is why it might have been better for Pericles to have used proverbs or authoritative testimony to really drive home his exhortation to the living. Through these other means of testimony Pericles could have really strengthened the end of his oration. 

Tradition and Athenian Pride

Greek History

How can you talk about tradition and not think of this... "TRADITION!!!"

                In an attempt to say something new about Greek civilization (as most people have talked about the pride of the Greeks country), I would like to point out the innate sense of tradition among the Greek society. It is clear from the introduction and the start of Pericles Oration that the Greeks had traditions. Many of these traditions could arguably be called “irrational” both then and now. Today we praise the Greeks for their advanced society, ideals, and government for their time in history. Because of this we may now overlook the fact that the Greeks were still human, and still like most people today with many different religious, cultural, and even silly traditions.

Pericles’ Ethos

                Many people talked about the pride of ones country as what they learned about the history of the Greek civilization (Austin Pena did a good job of this in his post “The Cradle of Humanism”)*, but for me this theme of country stood out more as the center of how Pericles built his ethos. Pericles said it the best himself by stating, “I have sung the praises of our city.” The pride of Athens and of their country was something that built common ground between Pericles and his audience. It also made himself appear to be a true Athenian, or Greek. I have felt this ethos while listening to many patriotic speakers in my own life. Once I have the feeling or thought of the speaker being a true American or Patriot, I am more inclined to listen to what they have to say. Pericles used this same method to build his ethos in his oration.

Pericles’ Philosophy

                This was definitely harder for me to pick out, but overall I feel that Pericles mostly resembles the ideals of the sophists. He clearly wants to help his audience believe the points he makes, as well as being quite ambiguous in his stances morally. He brings up some moral issues, but doesn’t necessarily try to persuade his audience to a specific way of thinking about these issues; more he is trying to persuade or induce belief. Because of the relativism in his thoughts to the people in his audience, like the mothers who have lost spouses, I feel there is the most evidence pointing to Pericles being a sophist. 

*http://rhetoricandcivilization.blogspot.com/2014/09/the-cradle-of-humanism.html

Hecuba & The Duality of Language

The lady who played Hecuba in tonight’s play did a wonderful job at bringing out the tragic condition of her character with language. Although she was unsuccessful in persuading Odysseus from taking her daughter to be sacrificed, she also laid out a very logical and reasonable argument to try and stop her daughter from being killed. Overall Hecuba’s language in the play really put on a powerful display of both pathos and logos.

Mimesis

Starting with Hecuba’s sad state, it was amazing the way that her words really brought out the sadness in what she was going through. I will say with all honesty that I am not the one to go to plays, and certainly not get that into them. With that said, it was thoroughly surprising when I felt an aching in my heart for Hecuba and all the trials she was being forced to go through. Her physical and emotional status on stage are attributed to making me feel for her as well, but her language is what made my mind tell my heart to feel for this woman. She was able to make the hearer’s emotions engage with the story, and help the audience feel as she was feeling.

Art of Persuasion

Although she was unable to persuade Odysseus from taking her daughter the layout and invention of her argument was impressive. Even after being denied once by Odysseus she persisted, and tried to take another angle. It was interesting when she made reference to her daughter as her “city.” Comparing this to our discussion on Euripides’ The Bakkhai, perhaps she was arguing that her daughter (& her son for good measure) were her only rationale to keep living. If so, this is a really interesting use of rhetoric.

The Rationale of Basketball

          Dionysus is called “the god of letting go”. I would argue that a better title would be “the god of irrationality”. Letting go is often much needed in human lives, such as when faced with the stress of school, work, dating, and more all at once. However there are many situations when people decide to let go in a dramatic fashion, and in the process also let go of any grasp of reason. One situation comes to mind of a family I know well. The parents of the family were happily married for over 30 years with two kids when all of a sudden the husband decided that he wanted to “let go” by abandoning his family and marriage to try out some new found homosexual desires. There is only two ways of looking at this man’s recent decision. Either he has just made the most irrational decision of his life, or by making this new decision is saying that for the past 30 years he has made a slew of irrational decisions.

I love this quote, and I apply the last two sentences to almost everything in my life.

Before Pentheus hears the tale of what the cowherd saw and experienced in the forest he wants to arrest or destroy the women for their attempt to go against the Theban society. After he hears about the women firsthand, and with a little persuasion by Dionysus, he is drawn by the sexuality of the women to go and investigate. This complete flip flop from his original feelings about the Bakkhai ultimately results in his own mother taking his life. This shows the most powerful lesson from the Bakkhai, that irrational behavior amplified by sexuality will cause those closest to us to turn on us and lose their love and concern for us.

                It is important to have a way of dealing with our sexual drive and other characteristics of human nature that seem to decrease our ability to make rational decisions. Basketball has always helped me to deal with irrational thoughts in life. There are certain things that are in your control and out of your control in the game. There are rational and irrational decisions to be made in the game. The outcome will be based on the sum total of these 4 things. Life is comparable to this. Through hard work, good decision making, and a little luck you can win the game both of basketball, and life. 

The Power of Verbal Persuasion is Declining

           When Helen is described as having godlike beauty and the foremost of the foremost of men and women, I instantly compared her to some of the women in my life that may “fit” that description. Unfortunately this did not help me to decide on whether Helen was truly persuaded, or was the persuader herself, because most of the women (and I guess men that I know that “fit” her description as well) can take on both of these roles at different times and situations in their lives. These people I have in mind to contrast with Helen can be good at using both their words and appearance to persuade others, but I have also noticed that they can easily be persuaded by someone with similar traits that match their own.

*Note: To learn about Mormons don't go here. Thanks.

For these reasons I don’t know which side to take on Helen, but would rather point out what I felt was the most important take away from this reading, and apply it to our class and the direction we seem to be heading. In the paragraph that starts with “(11)” Gorgias explains that without perfect memory or knowledge of past, present, and future that persuaders use lies and opinions to persuade others. By the nature of what Gorgias has said her it leads me to believe that the power of verbal persuasion was much greater in the 5^th century than it in our day, as well have things like the internet, and places to access facts. The power of verbal persuasion is still real, but unlike the ancient Greeks we have the power to go and really find out information on our own. The Greeks ability to access truth and answer their own questions with ease, pales in comparison to us in our own time.

Isn't this the truth?

Once I was very logically persuaded about a religious matter that I had previously had different feelings on until I was persuaded otherwise. However even after being persuaded I was able to do my own research and in a way “persuaded” myself to my previous belief. Technology and the mediums we have now are a huge factor upon how verbal persuasion works today. 

Knowledge/Truth Properly Spoken is Persuasion

In an attempt to say something of meaning without repeating what has already been said I do feel that the rhetorical ideals of invention and logos are key in both Elder Bednar’s speech and Socrates’ banter with Gorgias and Callicles. Coming from a background in sales I have always backed and really believed more in the “how” you say things over the “what” you say. James McClatchy mentioned in his post more about how the rhetoricians Socrates argues against feel quite similarly, and that “skill” is more important than knowledge in persuasion. In contrasting Socrates arguments made in the Gorgias, I think Socrates would have been overjoyed to have had Elder Bednar as a partner.

Coming October 10th - Just curious, what does everyone think about this movie?

                Although Elder Bednar is good at both the “how” and “what” of speaking, his address was so direct and knowledgeable of the topic that the viewer, speaking for myself at least, is persuaded by the mere content of what is being presented. Elder Bednar doesn't have to sell us on anything, as the message or “what” is being said sells itself. The part of the presentation that really took me back was when he got everyone’s undivided attention by directly asking for it. The reason that stood out to me is that I haven’t really heard that kind of a statement from a general authority before. I would assume this is because we are usually drawn in anyway by the “how” of their talk or presentation. It was the cherry on top that said to me Elder Bednar has spent time on this, and he knows what he is talking about. He knows what he wants to say, and what he wants us to do and doesn't need any kind of sales pitch to get us motivated to do it. 

Were the Greeks big sports fan?

Modern Day Olympic Rings created in 1910

After BYU football’s big win over Texas this last Saturday all that I have been able to think about is football. So what about the Greeks? Did they have sports? If so what was their purpose in Greek society?

Yes, I better be on the jumbo-tron on Thursday night.
This is my fail at a tough-guy-Bruce-Wayne-Batman pose.
Enjoy. 

  Ancient Greece’s contribution to the world of sports can be summed up in two words: The Olympics. The games were held in honor of Zeus and were the origin of the games as we know them today. Geeks were passionate about the games as they evolved. I guess you could say I’m passionate as well, what do you think?