Career Case Study: George Nassios FIAA – Treasurer, Metrics Credit Partners

"Actuaries have the ability to quantify a situation so that there is comfort in the way forward."

I started as an actuarial analyst in Life insurance and annuities; to later move to superannuation & investments. It was investments that then defined the next 15 years of my life - from bond analyst to new product- structures such as hybrids, securitization and infrastructure.

I established new capabilities in capital markets and research. In 2004 a move to risk management and unfortunately one week before one of Australia's biggest option losses.

A change in direction in 2006 resulted in working for a sophisticated family office which resulted in CIO roles in Wealth management. Some 15 years later a new role, Treasurer - something I always wanted to try.  

Awards won:  

Commonwealth Supported Scholarship to study for a PhD. 

How did you find out about this career? 

By accident, a friend who played in the same soccer team knew I was trying to work out what jobs I could do. He showed me an advertisement for National Mutual Actuarial Analysts and said it's what people who were good at maths do. 

How did you land your first job? 

I applied by writing and got an interview with Tony Kane who was the Personal Business Actuary and was interested in my programming skills - I was hired as an Actuarial Programmer.

What helped you build your career/progress? 

Being inquisitive, being prepared to explore roles that were not necessarily traditional actuarial roles, recognising that many roles are partly defined but you have to define the rest, and sometimes taking a pay cut to do such roles.  

From your experience, what advantages does being an actuary offer in the professional world? 

An ability to look at a situation from more than one angle. Breadth in approaching a role in terms of doing the role, but also explaining the outcomes in a manner that is understood by others of a different background.

An ability to quantify a situation so that there is comfort in the solution/way forward. 

What are the top five skills you look for when hiring an actuary? 

• Technical competence.
• An ability to translate analysis to non-technical speak.
• Having a breadth of experience.
• Adaptability.
• Inquisitiveness.

When hiring an actuary I would look for an ability to see the possible problem, think about how it might require more than one approach, technical ability, inquisitiveness, an ability to explain in broad terms. A team-player.

What exciting projects or work locations have you been exposed to? 

• Valued the losses on NAB FX options book, internal-model recertification, actuarial calculator development.
• Establishing new business capability such as Debt-equity Hybrid issuance at two separate banks.
• Structuring one of the first long dated mortgage securitization deals in Australia (including NiM notes).
• Working as a CIO for a global bank and being involved with the global investment committees - it was like being in an investment candy shop of information.
• Meeting a lot of clever people with different ways of seeing a problem and a solution. And always adding to my knowledge. My PhD.
• As part of my roles, I've been sent to London, Paris, Hong Kong and Singapore  (but always worked in Melbourne).

How would you summarise yourself in one sentence? 

Very much someone that says let's have a go at this problem and see if we can understand it. Using knowledge as the steppingstone to the next challenge. 

What advice would you give to young/aspiring actuaries? 

Challenge yourself, don't pigeonhole your skill set, be part of a broad-based team (and learn from them). Enjoy your career journey.

Check out George's career and qualification timeline

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