„The most important thing is an encouraging and inspiring working atmosphere“ – Interview with Lilian Chow

You have been with Deloitte for about four years and currently work there in the Actuarial and Insurance Services area as a Manager. When you were looking for a job - what were the key reasons for you to choose your current employer over the offers of other companies?

During my Master’s studies in mathematics, I worked as an intern and as a working student in both the finance and insurance industry while I was deciding who my future employer would be. I soon found out that I did not enjoy repetitive work and that I preferred a change in environment from time to time. Understanding that a typical 9-5 job didn’t suit me well, but not knowing exactly what to do after graduation, I continued visiting job fairs and university events – this is also where I discovered that consulting would offer me the flexibility I was seeking. I started my career journey in a team within Deloitte Consulting focusing on consulting services for insurance companies on all operational matters. Over time, I got to meet actuaries from B&W Deloitte and decided that an internal change of area within the Deloitte family would make most sense, as I was already aspiring to become an actuary at that time.

What are your TOP 5 characteristics of an attractive employer? 

For me, by far the most important thing is an encouraging and inspiring working atmosphere. I want to enjoy coming to work every day, and I think a big part of that is influenced by a great and diverse team. I expect my employer to offer opportunities for personal and professional growth, e.g., by working with me on a career plan which takes my personal preferences into account. Also, work-life-balance needs to be guaranteed: COVID-19 taught us that new working models such as remote working can lead to successful results as well. All of these points must be matched with an attractive and fair salary. 

The expectations of young people entering the labour market or of young employees towards their companies change over time. Do you think that companies today meet the requirements and expectations of the new generation or do you still see a need for companies to catch up in certain areas? 

I think the expectations of potential future employers are quite different today to when I joined the workforce only four years ago. While work-life-balance and an appropriate salary are essential criteria, young adults increasingly care about social aspects as well, such as an inclusive workplace, company ethics and environmental awareness. They want a strong sense of purpose. Just displaying a rainbow company logo during Pride month is not going to impress them. Of course gender-inclusive language can be one thing to work on for many companies as a starting point. Don’t stop just there, but also act on your positive impact on society and leave an eco-friendly footprint.

What tips would you give to job seekers when selecting job offers?

I understand that most people seeking their first job would be discouraged by receiving rejections. Our background studying mathematics has taught us to be, and to stay, persistent to find a solution. That in my opinion is one of the most important qualities you can take with you on your journey through life. Use this energy to keep looking and don’t be afraid to reach out to people and ask them for advice. Through LinkedIn, almost anyone can be found and messaged – or use the more traditional way of visiting job fairs and talking to company representatives.  

What would be your tips for job starters?

Congratulations if you have already found a job and are starting out on your working journey soon! I would suggest not putting too much pressure on yourself and just see how you feel after a few months. Try to make a conscious decision on whether you want to stay, and think about things that could be improved for the sake of your own happiness. Don’t be afraid to talk about these topics – the probationary period is for you and your employer.

What makes the actuarial profession so exciting for you and why should graduates choose it? 

Generally speaking, anyone can observe the impact on society from certain events, such as demographic change and climate change , but also more recent events such as pandemics, war and inflation. Actuaries also see their impact on the insurance business. We get to understand the world a little better through our work and we apply the knowledge gained to spread awareness about, e.g., climate risks, as well as forecasting the impacts of newer risks, which may or may not all be known at this time, e.g., cyber risks arising from global digitalization. This is all to provide and improve protection from financial loss for all types of occasion, to make the world as a whole a bit more balanced by sharing risks as a collective or to help avoiding the risks as a whole. 

If you are interested in a job that will always have something to work on due to new emerging  risks, and improving technology, as well as making a positive impact on people’s lives, then think about joining the actuarial profession!