As one of the first Senegalese nationals to earn the ACIA designation, Mouhamed Niang has displayed a strong commitment to the actuarial profession.
He faced many challenges in his journey to become an actuary, and he shares his story with the hopes that it can serve as an inspiration to aspiring actuaries – especially those from Senegal or with other international backgrounds.
From math to risk management
From a young age, Mouhamed was drawn to the world of mathematics. He fondly remembers a comment from his father, a teacher, that his “passion for numbers led him to develop an interest in mathematics.”
Mouhamed pursued an undergraduate degree in statistics, but it wasn’t until he started his first year at ENSAE – a higher education institution for statistics – that he became aware of actuarial science. The turning point came at a conference session hosted by Cédric Villani, a Fields medalist, at the University of Dakar. Villani shared a ranking of the world’s top professions, which included mathematicians, statisticians and a profession that Mouhamed hadn’t heard of before, piquing his curiosity.
Following the conference, Mouhamed dove into research on this mysterious discipline, discovering its focus on assessing the financial impact of risk. At the time, global financial crises and their aftermath – such as the European debt crisis and the subprime mortgage crisis – were significant topics of discussion. That’s when Mouhamed realized that this field offered him an opportunity to contribute to managing such risks, solidifying his desire to pursue the actuarial profession.
Moving to Canada
Mouhamed’s ambition to become an actuary led him to Canada in 2014, enrolling in a master’s degree program in actuarial science at Laval University. His decision to study in Canada was motivated not only by the country’s excellent actuarial programs but also by linguistic factors; being a French speaker, Canada (and particularly Quebec) was a natural fit for continuing his studies.
Before moving to Canada, Mouhamed made himself aware of the actuarial credentials required by North America’s actuarial associations, and he began working toward the necessary designations in earnest after his first year at Laval. He took his first actuarial exam in 2015, marking the beginning of a long but fulfilling journey of professional exams.
Challenges and perseverance
Mouhamed’s path to becoming credentialed was not without its challenges. Some of the key challenges he faced included:
- Demanding exam preparation: The rigor of actuarial exams posed a significant challenge for Mouhamed. However, he overcame these difficulties by leveraging resources like the ACTEX manual and Coaching Actuaries, an online study platform. Their progressively difficult proficiency levels and practice tests became essential tools in his study routine, helping him build skills and confidence.
- Financial constraints: Tuition and exam costs add up quickly – especially for international students, who often face even higher (and additional) expenses. Securing financial support is essential to managing these challenges. Mouhamed advises aspiring actuaries to explore university reimbursement programs and employer-sponsored study initiatives to help fund exam preparation.
- Difficulties with studying abroad: Homesickness and culture shock were also hurdles. He found comfort by connecting with the Senegalese students association at Laval and engaging in cultural events. He stresses the importance of establishing a sense of community for those coming from abroad to pursue the profession.
- Setbacks and disappointments: Mouhamed encountered setbacks throughout his actuarial journey, including failing one actuarial exam several times. He emphasizes that while he experienced moments of self-doubt, perseverance, adaptability and a positive attitude are essential when pursuing actuarial credentials.
“If you want to become a credentialed actuary in North America, you need to be persistent and maintain a positive outlook.”
Professional success and contributions to the actuarial field
Obtaining the ACIA designation in 2023 strengthened Mouhamed’s career in pensions and benefits. His primary work involves providing audit, consulting and administration services to employers on the costs and risks associated with pension and other post-employment benefit plans. He finds the field exciting as it combines both quantitative analysis and staying informed about evolving legislative and market trends, such as mortality rates and inflation.
Mouhamed is also focused on becoming a trusted pension advisor and improving retirement security for Canadians.
Plans to give back to the profession
Mouhamed is passionate about supporting future actuaries, especially those in Senegal. He is currently in discussions with actuarial schools in Senegal to help raise awareness about North American actuarial exams and share his experience. Though still in the planning phase, Mouhamed hopes to inspire and guide young Senegalese students toward the actuarial profession.
He’s also exploring opportunities to volunteer within the CIA’s international initiatives, hoping to support and mentor aspiring actuaries worldwide. Having the technical skill to become an actuary is not enough, Mouhamed said, noting that attitude is also important.
“Stay persistent, stay adaptable, and never stop learning. Your journey may be long, but the rewards are worth the effort.”
“This article reflects the opinion of the author and does not represent an official statement of the CIA.“
