Danielle Casamento

What's your job about?

I work at an actuarial and data analytics consulting firm. Our work is project-based and our clients consist of insurers, reinsurers, Government agencies and corporates. I work as an actuarial consultant providing insurance and other advice to clients.

Given our work is project based, I am often juggling multiple client projects at the one time. Each project typically involves:

• Understanding the client’s business problem e.g. how much money do I need to set aside in case my building burns down next year?
• Analysing client data and using external benchmarks to assess the problem e.g. look for trends in historical fire damage experience or consider where the buildings are located.
• Consolidating results and documenting in a report or presentation to client.

Overall, my role is about using data and judgement to help insurers and other businesses make financial decisions. Other examples of questions clients might ask include: i) how much extra should I charge a home owner buying home insurance if they live near a river or a park? ii) Is the merger of two companies financially viable and in the best interests of key stakeholders?  iii) how much money do I need to set aside today to fund a project in 30 years’ time?

What's your background?

I grew up in the inner west of Sydney and have lived there my whole life.  I went to both primary and high school in the inner west and hadn’t really left the suburbs until I started university.  Starting university was definitely a big change for me at only 17 years old and being the first person in my family to attend university.  My degree was an obvious choice for me as I wanted to combine my love for mathematics in a practical business setting.  I was fortunate enough to be awarded a UNSW Co-op scholarship in Actuarial Studies which involved three industry training work placements throughout my degree. 

Before university, I worked as a child carer at an out of school care facility.  Working in the professional industry during university helped solidify the ‘text book’ theory I was learning at university, apply these theories in the real world and prepare me for full time work after graduation. Starting as a graduate three years ago, I now work at Finity Consulting.

Could someone with a different background do your job?

Yes, although more study might be required.  Working as an actuary requires certain actuarial qualifications (which can be attained through university or the Institute of Actuaries Australia).

Aside from the formal qualifications, someone who is analytical, logical, good at communicating complex ideas in simple terms, loves numbers and can work with others would be best suited to work as an actuary.

What's the coolest thing about your job?

My favourite part about my job is presenting results and advice to clients.  The most satisfying part of my job is when the work I have done assists a business in making a decision.

What are the limitations of your job?

The hours can be long, particularly when deadlines are near.  Working hard comes with the nature of consulting and balancing the needs and wants of multiple clients at the same time.  However, when you are passionate and motivated by the work you are doing and enjoy the people you work with, you don’t notice the long hours.   

3 pieces of advice for yourself when you were a student...

• Work hard, Play hard – a motto I live by. It important to balance working and studying hard with enjoying life - going out with friends, starting a hobby or splurging on that new outfit – whatever it is you enjoy doing, don’t forget to reward yourself!     
• Make decisions for you – both in your career and personally. At the end of the day you need to make choices that make you happy. Sometimes other opinions and pressures can cloud your judgement but in the long run it’s important to focus on what you really want.
• Don’t miss opportunities - whether it’s to study aboard or to join a new team, grasp every opportunity you can!