One Year On: Caitlin Devlin Shares the Highs, Challenges and Lessons from Her First Year at Boal & Co
When we last spoke to Caitlin, she was approaching the end of her placement year with Boal & Co having gained hands-on actuarial experience while studying Actuarial Science and Risk Management at Queen's University Belfast. She described an exciting and rewarding year, spoke highly of the support she received from colleagues, and hoped to return to the pensions industry after graduation. [Read more here]
Since then, Caitlin has graduated, returned to Boal & Co as a permanent employee and completed her first year as a full-time actuarial professional. We sat down with her to discuss the transition from full-time student to employee, the highs and challenges of the past 12 months, and her ambitions for the future.
Caitlin’s journey
1. Since returning to Boal & Co full-time, what has your first year been like?
It has been a productive year with many positive learning experiences. I already had a good understanding of the business, but it’s been really rewarding to see how much I’ve grown since becoming a full-time member of the team. I’ve had the opportunity to take on more responsibility, work on a wider range of tasks and develop both technically and professionally.
2. Did anything surprise you about the transition from university life to full-time work
Transitioning back to 9 to 5 was an adjustment. However, I actually enjoyed getting into a good work routine and having a clear plan of tasks and deadlines to manage.
Looking back at the first year
3. What have been some of the standout moments or achievements from your first year?
I was delighted to be given an incredible opportunity to attend the Abelica Conference in Lisbon, Portugal, which was an amazing experience. Over the two days at the conference, I gained insight into trends shaping the financial services industry, employee benefits, the importance of collaboration across companies and the potential uses of AI. I am extremely grateful to Boal & Co for giving me this opportunity and getting to meet a range of people from companies across the globe to gain further insight into the actuarial profession.
4. Is there a particular piece of work or project you're especially proud of?
I have been producing a triennial actuarial valuation for one of our defined benefit pension schemes which involves analysing the scheme’s experience over the last three years and assessing its funding position. This was my first time being fully responsible for the preparation of a valuation of this type (before submitting for peer review and formal sign-off), so I was nervous before starting, but I took my time, asked questions when needed and acted on feedback throughout the process. I’m particularly proud of completing it as it showed me how much I’ve developed since my placement and gave me greater confidence in taking ownership of complex actuarial work.
5. What has been the most rewarding aspect of working at Boal & Co?
Having the opportunity to work with teams across the business on a variety of work is certainly rewarding. Not only do I gain exposure to different areas of the business, but I also get to work with colleagues I wouldn’t normally get the opportunity to collaborate with. I appreciate being able to learn from different people and understand how the various parts of the business come together.
Challenges and learning experiences
6. How have you balanced professional responsibilities with studying for your professional exams?
Balancing professional responsibilities alongside studying for my professional exams has been difficult! I work to a study plan which is scheduled around my workload and deadlines, prioritising tasks to ensure I have enough time to prepare for the exams without compromising my work. It can be challenging at times, especially when I feel too tired to study. I have learned to give myself breaks and be realistic about what I can achieve.
7. Was there a moment during the year that really tested you, and how did you overcome it?
During my second week I was asked to take responsibility for the actuarial team’s deadlines for a month whilst my colleagues were away. It was challenging having to manage multiple priorities, but it became one of my most rewarding learning experiences. It strengthened my time management and confidence and showed me the importance of staying organised. Most importantly, it made me proud to have been trusted with that level of responsibility.
Development and growth
8. What have you learned about yourself since starting your career?
Since starting my career, I have learned a lot about balancing my professional responsibilities alongside studying, the importance of perseverance and being able to perform under pressure while managing multiple deadlines. I have also gained experience in other areas, including recruitment and have become much more confident in my abilities and my understanding of the business. Taking on greater responsibility has helped to increase my belief in myself and my abilities.
9. What has been the most valuable lesson you've learned so far?
The most valuable lesson I have learnt so far is the importance of perseverance. Whether that has been in my day-to-day work, dealing with the immense amount of studying for exams or receiving constructive feedback on my work, I have learnt that setbacks are part of the process. It is important not to let them knock your confidence, but instead to take the learning from them, keep working hard and continue moving forward. I’ve found that if I stay consistent and persevere, things have a way of working themselves out.
Culture and career progression
10. Having experienced Boal & Co as both a placement student and an employee, what stands out about the firm's culture?
The culture is incredibly supportive. As a placement student, colleagues were always checking in to make sure I was settling into the role, enjoying life on the Isle of Man, and letting me know about events and activities I might enjoy getting involved in. This continued when I returned as a graduate. Aside from lots of questions about my final year at university and what I’d been up to while back in Northern Ireland, I felt like I’d never left - in a good way! This year, the encouragement I have received both inside and outside of work, particularly while studying for my exams has really demonstrated just how supportive the culture is.
A moment that particularly stands out is when I completed the Parish Walk. Colleagues came out to cheer me on along the route and sent messages of encouragement throughout the day and night. It was a great example of the sense of community here and the way people rally behind one another.
11. What has helped you settle into the team and develop professionally?
Coming back to a familiar team played a key part in settling back in. At the same time, working alongside the new placement students has helped me develop professionally. Supporting their training has given me the opportunity to share my own experiences while also learning from their different perspectives. It has been rewarding to see how I can now support others in the same way that I was supported during my placement.
12. What would you say to students considering a placement or graduate career with Boal & Co?
I would recommend any student considering a placement or graduate career with Boal & Co. You receive a vast exposure to a wide range of tasks which will strengthen your understanding of actuarial work and the workings of the company. Since the actuarial team is relatively small and we typically all work in the office, it is easy to ask questions and receive greater insight to tasks.
Looking ahead
13. What are your goals for the next 12 months?
To continue learning on the job and gaining further exposure to the actuarial profession – and ultimately to complete my exams to become exam qualified as an Associate!
Read more from Caitlin
Q&A with Boal & Co Actuarial Placement Student, Caitlin Devlin
Caitlin Devlin
Actuarial Trainee
