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Hi,
I’m looking for some information on how best to transition from part-qualified actuary into accountancy.
Some background:
I studied Mathematics at university, qualifying in 2010. While on my industrial placement I completed the AAT NVQ2 qualification. Following graduation I moved into an actaurial role and have been working and studying in actuarial since. Now, as part of a company restructure, my role is moving 250 miles away and therefore I’m considering a move into accountancy.
Questions about transitioning:
– Should a transition from actuarial to accountancy be possible?
– Would I need to start at the most junior level if I moved?
– Would I have a better chance of securing a role if I was able to start studying / pass some exams in my current role (or during a career break)? Would this allow me to enter a career role at a higher level?
– Should I complete the AAT qualifications before moving to ACCA?
Questions about studying (I understand there are no hard and fast rules, but would like some indications):
– How long would it generally take to be prepared for the F1, F2 and F3 exams?
– How many of the F4 – F9 exams would people sit in one sitting?
– How many hours of study would you advise per F1 – F9 exam?
– What methods of study would people suggest while working full time?
For the actuarial exams I get the official notes delivered to me and work through them at home, attend a tutorial closer to the exam and attempt past papers (or other sources of questions, such as Q&A banks or assignments) ahead of the exam.Hi Keyboard – thanks for all these responses, although I think that maybe I wasn’t clear enough with some of my questions.
I do not believe that my actuarial experience or studies will necessarily be of any direct use an accountancy career, expect for maybe some transferable skills.
I was also not questioning exemptions here (having already checked, I do not believe I would be eligible for any).
I will reword some:
– Should a transition from actuarial to accountancy be possible?
As in, am I likely to find it a difficult path for any reason? Reasons which are probably best known to those who have successfully qualified, potentially from a similar situation to my own (not necessarily from exactly the same previous career).– Would I need to start at the most junior level if I moved?
Not in terms of exams, but in terms of position within a company – for example, it seems there are graduate jobs and experienced jobs and I don’t wholly fall into either of these categories.– Would I have a better chance of securing a role if I was able to start studying / pass some exams in my current role (or during a career break)? Would this allow me to enter a career role at a higher level?
I did not mean to say that I believe additional actuarial experience would be beneficial. Just – would I have a better chance of getting an accountancy role if I went with no accountancy experience but with a few exams (vs no accountancy experience but without any exams at all)– How many of the F4 – F9 exams would people sit in one sitting?
I have found the official rules, but I don’t know whether 4 exams in one sitting is a reasonable or heavy workload while working full time?There are acturial partnerships . But in my experience i have not seen audit firms providing acturial services . What i mean to say when audit firm dont have actuary depart. how your prior studies or experience of be some use ?!
– I didn’t understand this comment I’m afraidJust for me to clarify – you say “it is not possible to secure job without good amount of experience and papers”. In which case, where do you suggest people get the experience from to start with? I would have thought this would be through some sort of trainee / entry level role??
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