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Statistics and Actuarial Science Club

Mission: The Statistics and Actuarial Science club offers a platform for students:

    • to learn about careers related to being an Actuary, Statistical/Data Analyst, Financial Planner/Analyst, Accountants, etc. and to seek corresponding intern opportunities in each field
    • to learn about how Mathematics, Statistics, and Finance knowledge can be used in real life situations.
    • to share and discuss experiences related to professional exam preparation, career preparation, intern opportunities and others

Activities:

    • In the first meeting of each month, the club will invite speakers from (but not limited to) the following fields to share about their careers and how students can effectively prepare to be: 
          • Actuaries
          • Statistical Analysts
          • Certified Financial Analysts (CFA)
          • Certified Public Accountants (CPA)
          • Recent graduates
    • In the second meeting of each month, the club will focus on actuarial science exam preparations.  During these meetings, students will share and discuss problem-solving strategies, resources available for professional exams (Exam P or Exam FM), etc.

Club officers: 

    • President: Daniel Steinberg
    • Vice President: Sean Filoon
    • Treasurer: George King
    • Secretary: Isaiah Riddick

Students who have passed Actuarial Exams:

  • Exam P/1: ​ Robert Koch, Bradley Mayer '15, Michael Pol '15
  • Exam FM/2: Robert Koch, Bradley Mayer '15, Ian Haberle

For more information, contact faculty advisor Dr. Ju Zhou.


2017-2018 Activities:

  • Thursday, April 26 at 11:00 am in Lytle 120
We are lucky enough to have three representatives from a local insurance company (Guardian Life in Bethlehem) to speak at this meeting. One of them is a experienced financial planner and the other two are actuaries.

Mr. Ken Kovalik is a Financial Advisor and the Managing Director at Independence Planning Group, Allentown, PA.  After graduating from Wheaton College (IL) with a degree in Economics, Mr. Ken Kovalik worked for a number of years with ServiceMaster Management Services, from which he retired as Executive Vice President. Mr. Ken Kovalik is also Co-Founder and President of K&A Development Corporation, a real estate investment company and serves as a member of the board of his local church.  He previously served for several years on Board of Directors of Greater Europe Mission and Vision Quest Alliance, both based in Monument, Co.  In recent years, he has consulted internationally in Ukraine, Germany, Finland, Iceland, Romania, and Dubai (UAE). In his financial services practice, he works with small businesses and individuals on a customized basis to review, analyze, improve, and protect their overall financial positions.  In addition to his individual work, he speaks to groups about effective financial strategies in these challenging economic times as well as keys to discovering and protecting personal true wealth.  Mr. Ken Kovalik will share what financial advisors do in general, what he and his team do in his practice in working with clients at IPG, and what steps one might take to become a financial advisor if they would want to pursue this vocation as a career.  

Mr. Ken Kovalik

Ms. Kathleen Earle, FSA, MAAA has worked at Guardian Life Insurance for 13 years in a variety of actuarial roles including Dental and Supplemental Health pricing as well as Life and Long Term Disability valuation.  Her current role is Director and Associate Actuary in Underwriting focusing on employer groups with 500+ employees.  She also serves as the Chair of Guardian's Actuarial Student Committee.  Ms. Kathleen Earle graduated cum laude from The College of New Jersey in 2005 with a BA in Mathematics and minors in Economics and Statistics.  

Ms. Kathleen Earle

Mr. Ian Harbele graduated from Kutztown University in the winter of 2016 with a degree in business management and minors in mathematics, actuarial science, and economics. He passed Exam FM, obtained all three VEE credits, and will be sitting for Exam P in July, 2018. Mr. Ian Harbele is currently working as a New Business Underwriter in the Large Market segment of Guardian Life Insurance. Mr. Ian Harbele will be speaking about the details of his position and the relationship to coursework, preparation for the professional world, the concept of generalists vs. specialists, and professional preferences.

Mr. Ian Harbele

  • Tuesday, March 27 at 11:00 am in Lytle 228
Natalie A. Snow is Director of Institutional Research for Kutztown University of Pennsylvania.  Since coming to Kutztown University in 2003, she has worked primarily for the Office of Institutional Research. The mission of the Office of Institutional Research is to support institutional management, policy-making, decision-making and assessment functions in a timely and efficient manner through the collection, organization, analysis and dissemination of internal and external data.  Ms. Snow earned a B.A. in Psychology and Anthropology from Muhlenberg College in 2003 and a M.Ed. from Kutztown University in Student Affairs in Higher Education in 2006. Natalie Snow

  • Thursday, February 22 at 11:00 am in Lytle 120
Mr. Sean McAllister is the Senior Vice President and Chief Actuarial Officer of Old Republic Specialty Insurance Underwriters in Yardley, PA.  His responsibilities include developing pricing models, profitability monitoring, and loss reserving for ORSIU's Specialty Programs and Alternative Risks divisions. Previously, he was Director of Pricing for Admiral Insurance Company, a W.R. Berkley Company, where he oversaw Admiral's pricing of Casualty, Excess Casualty, Professional (medical and non-medical), and Commercial Property business. Prior to that, Mr. McAllister was a Principal and Consulting Actuary for Milliman, Inc., where he performed pricing and loss reserving analyses for clients, including insurance companies, reinsurers, self-insurance programs, and captive companies. Mr. McAllister has a Bachelor's degree in Economics from Johns Hopkins University.  

Mr. McAllister will discuss property and casualty insurance pricing considerations and will walk the audience through an auto liability insurance pricing assignment for a large taxi company.  
Sean McAllister

  • Monday, December 4 at 11:00 am in Lytle 214
Dr. Daniel Arnold will tell us what actuaries do, where actuaries work, and who should consider becoming an actuary. 

Dr. Arnold graduated from the University of Michigan with a Master's degree in Actuarial Science with Distinction.  He is now retired after a distinguished career including: Fellow of the Society of Actuaries since 1969; Member of the American Academy of Actuaries; Fellow of the Conference of Consulting Actuaries; Fellow of the Canadian Institute of Actuaries; Vice President of Hooker & Holcombe; President of H&H Investment Solutions; Ten years of actuarial experience with Connecticut General Life Insurance Company; US Navy veteran.
Dr. Daniel Arnold
  • Thursday, September 28 at 11:00 in Lytle 120 

The Statistics and Actuarial Science Club will welcome Mr. Jerry Shen, a FINRA registered representative and Branch Office Supervisor in Transamerica Financial Advisors, to share his perspective as a Financial Advisor.  

Are you interested in getting some financial advice? Are you interested in becoming a financial adviser? Are you interested in some extra credit? Are you interested in getting free pizza or free lunch? Whatever your interest is, you might learn something useful from this talk.

2016-2017 Activities: 

  • Thursday, March 9 at 3:00 pm in Lytle 214
Dr. Donald Richard (Penn State University Department of Statistics) will tell us about "Statistical Properties of the Risk-Transfer Formula in the Affordable Care Act".

The Affordable Care Act of 2010 led to the creation of competitive insurance plans which provide universal health-insurance coverage without regard to pre-existing medical conditions. To assist insurers during a transitional period the Act introduced a ''risk-transfer formula," which requires insurance plans with healthier enrollees to transfer funds to plans with sicker enrollees, thereby discouraging any tendency for insurers to favor healthier enrollees. However, it has been noticed that risk-transfer amounts have been more volatile for smaller insurance plans than for larger plans, a phenomenon which led to insolvency for some smaller plans.  

In this talk, we treat the risk-transfer amounts as random variables. By analyzing the variances of these amounts, we will obtain a theoretical explanation for the observed phenomenon that risk-transfer amounts were more volatile for insurers with smaller market shares. Further, we will provide examples for which the phenomenon holds.

  • Monday, November 14 at 11:00 am in Lytle 136

Our speaker is Ms Lara Coviello, an Executive Director on the Fund Strategy Team at Franklin Square, will discuss how they use statistics at their company and FS Investments, and then share possible career options. 

Ms. Laura CovielloMs. Coviello serves as a portfolio specialist and subject matter expert to educate advisors and investors about Franklin Square's current offerings. She brings over nine years of experience in investment research and portfolio management.

Prior to joining Franklin Square, Ms. Coviello founded her own investment advisory firm, Auctus Wealth Management, where as lead portfolio manager she specialized in tailoring clients' investments to their financial goals. Ms. Coviello began her financial services career at Linden Asset Management and Linden Growth Partners LP, an RIA and pre-IPO evergreen fund, performing risk assessment, market analysis and research on public and privately held companies. Ms. Coviello also spent two years as a statistician in the pharmaceutical industry.

Ms. Coviello received her MA in Statistics from Columbia University and her BS from Penn State University. She also completed the Private Equity and Venture Capital Executive Education course at Harvard Business School. Ms. Coviello holds the Chartered Financial Analyst designation and is a member of the CFA Institute, the CFA Society of Philadelphia and the American Statistical Association.

  • Tuesday, September 20 at 11:00 am in Lytle 228  

Statistics and Actuarial Science Club President, Ian Haberle, will be speaking about his path to becoming an actuary and how other students can maximize their education at Kutztown University.

Topics to be covered:  

            • Overview of an actuary
            • Professional requirements
            • Kutztown resources
            • Other resources
            • Creating your own path  

Ian Haberle is a senior at Kutztown University and is actively training to become an actuary. During the summer, he passed Exam FM/2 and is currently studying for Exam P/1. His business management major is complemented by mathematics, economics, and actuarial science minors, which all have relevant coursework. He organized a path which utilizes all that Kutztown has to offer and wants to help other students do the same.