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EValue's actuarial heritage is alive and thriving

Individual commitment to a group effort is the simple definition of teamwork. Nowhere is that more evident than here at EValue where all of our employees come together from diverse backgrounds, bringing with them unique and wide ranging skills.

However relying on talent and skill alone does not guarantee success, neither the delivery of consistent results. You must possess an inner drive, passion and work ethic to achieve your goals. At EValue, we are fortunate enough to possess this in abundance. Over the years many of our co-workers have gone the extra mile to improve themselves and subsequently the company.

A recent example of this is our Actuarial Team Lead, Chet Velani. Chet joined EValue when we were a team within Towers Perrin (now Willis Towers Watson) in December 2008, as an Actuarial Analyst. Today, Chet heads up our highly skilled actuarial team where his wealth of knowledge and experience help to deliver reliable solutions to our clients.

Although Chet’s progression may appear organic on paper, the reality of the journey to reach it is far from it. After becoming a member of EValue's actuarial team, Chet joined the actuarial profession as a student in January 2009, sitting his first exam 'CT2 – Finance and Financial Reporting' in the April. The start of a gruelling but rewarding seven year process, consisting of 15 exams had begun.

After sitting his first exam a cyclical bi-annual process, of which he would eventually become accustomed to, had begun. With a requirement to complete an extra 20 hours of studying a week, increasing to 30 hours in the weeks prior to an exam, in addition to his work schedule at EValue, there were many social sacrifices along the way. One of the two bi-annual exams consistently coincided with his birthday in April, thus he was forced to miss out on six years of birthday celebrations with friends and family, a sacrifice he was willing to make for his longer-term goal.

It is with great pride that we announce that in April 2016, Chet sat and passed his final exam, becoming a Fellow of the Institute of Actuaries (FIA). With only 9,000 people currently holding FIA status, I am sure you will agree this is a fantastic achievement. The only question remaining is what he will do with all his spare time.

Chet had this to say, "Having spent the last seven years studying for my actuarial exams, the realisation that I will no longer need to spend my evenings and weekends studying, is somewhat surreal. I feel extremely fortunate to have had the opportunity to attain Fellowship of the Institute and Faculty of Actuaries and I can’t understate how great it has been to have a strong team here at EValue supporting and motivating me through my studies. In addition, the example set by the senior members of the EValue team, such as Andrew Storey, Mark Grimes and Bruce Moss, all FIA qualified, has been a big motivator. While I’m the first member of staff to complete all my exams while under employment with eValue, having worked closely with the student actuaries currently studying for their exams, I know I won’t be the last.

Having completed one chapter, this summer I will be starting the next chapter in my life when I get married. The timing of this achievement couldn’t be any better; knowing I won’t need to return from my honeymoon in August and attempt to be ready for an exam in September is a huge relief."

This achievement is already benefiting the EValue team. In his current role as Actuarial Team Lead, he is relishing putting theory into practice by helping to shape our tools and delivering on client requirements.

Chet’s senior role has consisted of overseeing many projects for our clients. He believes the nature of the process he has gone through to achieve his FIA status has aided his problem solving skills, consequently enhancing the solutions we deliver to our clients. Over the past couple of years, Chet and the actuarial team have successfully worked with a number of clients to deliver a range of solutions, from our risk suitability assessment tools, to our recent pensions freedom technology. With our Robo Advice solution now becoming a key focus, Chet is excited about continuing to work with the actuarial team to deliver for our clients.

EValue has a very strong actuarial heritage and the role our actuaries play is vital to the continued success of our business and the strong service we provide to our clients. Actuarial backgrounds are prominent throughout the company; no more so than at senior level with Product Director Mark Grimes, Sales Director Andrew Storey and Strategy Director & Founder Bruce Moss all previously achieving FIA status. Bruce commented, "Well Chet now the hard work begins – only another 40 years to go. I qualified in 1976!"

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