Quick-fire Q&A with Stuart, Actuarial Consulting has been saved
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Could you tell us a bit about yourself, and your time at Deloitte so far? How did you end up in your current role?
My name is Stuart Redmond and I’m an Associate Director in the Actuarial, Rewards and Analytics (ARA) team. I studied Actuarial Science in UCD and then joining a large insurer in Dublin where I qualified as an actuary. I had always been interested in a career in consulting, so when the opportunity arose to join Deloitte I jumped at the chance. While I really enjoyed being an actuary in industry, I hoped that consulting would allow me to work on a wider variety of projects than in my previous role and that has certainly been the case. I’ve had the opportunity to work with most of the life insurers and reinsurers in Dublin on projects ranging from building a portfolio asset allocation model to implementing IFRS 17.
I joined Deloitte as a Manager and have since progressed to being an Associate Director which means that I now play a greater role in the management of the team in addition to my client projects.
Is there a part of your role you particularly enjoy?
I mentioned that the ability to work on a variety of projects was what attracted me to consulting initially and that continues to be a big plus for me. Every day is different and there is always something new to look forward to or an opportunity to learn. The varied nature of the work, coupled with the opportunities to collaborate with experts from across the Deloitte network, mean that you are constantly learning new things. I’ve been with Deloitte nine years and I still feel that I’m developing both my technical and softer skills on a daily basis.
Working in a consulting environment is a great way to keep your technical actuarial skills sharp, but that is just one element of the skills that I have developed... I’ve been with Deloitte nine years and I still feel that I’m developing both my technical and softer skills on a daily basis.
What’s unique about the role or team you’re in?
I’m one of the longest-serving members of the actuarial team in Deloitte and looking back over my time with the firm it’s incredibly satisfying to see how the team has grown over that time. We’re now a 40-strong team working across both audit and consulting projects and have ambitious targets to continue to grow the business. In addition to the technical actuarial work that I do, I’m also involved in the management of the team – helping to develop the strategy, managing client projects and participating in business development activities. The ARA team in Deloitte has provided me with a unique opportunity to not only develop as an actuary but also as a broader business leader.
What’s your favourite project you’ve worked on?
The huge variety of the projects that I’ve worked on makes it difficult to choose just one! Our work is generally split between supporting our accounting colleagues in the audit of insurance companies, and the more traditional advisory projects. I enjoy both aspects - working on the audits gives you a unique insight into how a wide range of companies are managed, while the consulting projects allow you to work on the key challenges facing the industry.
I’ve spent a lot of time recently working on IFRS 17 projects, helping our clients prepare for the introduction of the new standard. This is technically challenging work but gives you great insight into something that will be a key part of actuarial work for years to come. On these projects I’ve had the opportunity to work with Deloitte and client colleagues from all over the world and benefited from the different perspectives that such a diverse group of people can bring.
What are the main skills you’ve been able to develop in this role so far, and what do you want to focus on next?
Working in a consulting environment is a great way to keep your technical actuarial skills sharp, but that is just one element of the skills that I have developed. The management group within the actuarial team are responsible not only for providing actuarial advice to our clients, but also for managing the ARA business. This means that you develop a whole range of skills that are applicable to the management of any business. In particular, a big part of my role is building relationships both within the wider Deloitte firm and with our clients – collaboration is the foundation of how Deloitte works and it’s a skill that you can also develop further.
What would we typically find you doing outside of work?
I’m a Leinster rugby season ticket holder so can frequently be found at the RDS!
Stuart is a qualified life actuary with over 12 years’ experience. He is Deloitte’s life actuarial lead on IFRS 17 and is IFRS 17 accredited having completed a Deloitte EMEA training course. Stuart regularly presents at client training sessions on the technical aspects of IFRS 17. More broadly, Stuart has experience in areas such as IFRS, US GAAP and Solvency II.