Consulting Practice

Extract

The original purpose of this paper was to help students working for Parts IIIC and IVB of the Institute examinations and the equivalent sections of the Faculty examinations. The large majority of students have never been inside a consultant's office, have little or no practical experience of the subjects involved and seem to find these parts of the examinations extremely difficult because of their lack of practical knowledge. The paper does, however, seem to have expanded beyond its original aim into a general discussion of the practice and organization of a consultant's office, but it is hoped that at least part of the original intention has been fulfilled. It is written largely from the point of view of the staff carrying out the technical work in such an office. Perhaps it should be stated at the outset that it also refers mainly to one particular firm of consultants. The first part of the paper is concerned with a broad description of the services provided by a full-time consulting actuary and the necessary office organization and the remainder describes the particular features of the various types of work undertaken.