Internship Review at Standard Life

The Role

Role Description

I worked in the Investment Risk Management team. Our responsibility is to monitor the market risks our funds are exposed to and calculate the affect they could have on our investment performance.

I was in the Model Development sub-team who enhance current and develop new tools which produce results on market conditions and our asset position.

My internship's stucture followed a project which I worked on over the 9 weeks with my sub-team, otherwise I completed smaller Ad-Hoc tasks that the team needed help with.

1. To what extent did you enjoy your work placement or internship?

★★★★★★★★★☆

Rated 9/10

I thoroughly enjoyed my internship at Standard Life. The company's set up for all internships is brilliant and I struggle to fault it! All the staff are very welcoming and friendly which created a pleasant environment to work in. I would be more than happy to work there in the future.

2. To what extent did you feel valued by your colleagues?

★★★★★★★★☆☆

Rated 8/10

My colleagues were very welcoming which allowed me to easily slot into the team. Especially towards the end of the internship, they were happy to offload some of their work to me and had trust that I would complete the task correctly.

3. To what extent were you given support and guidance by management/your supervisor(s)?

★★★★★★★★★☆

Rated 9/10

As I was new to the actuarial world, my manager arranged lots of meetings with me in the first few weeks to make sure I was familiar with some key concepts and understood the background to our project. The whole team were always willing to answer any questions I had and help if I needed assistance.

4. How busy were you on a daily basis?

★★★★★★★☆☆☆

Rated 7/10

I got busier as the internship went on. As my knowledge improved I was able to take on more responsibility which increased my workload. However, I was still able to stick to a 9-5 day apart from a couple days when I stayed late to help with Q2 results checking.

5. How much responsibility were you given during your placement?

★★★★★★★★☆☆

Rated 8/10

My project was shared amongst my sub-team. I was responsible for smaller parts of the project such as carrying out competitor analysis and some calculations which were key to the final result.

6. To what extent did/will the skills you developed, and training you received, assist you in your degree studies and beyond?

★★★★★★★★★★

Rated 10/10

I have benefitted in lots of ways from the internship. Firstly I am more professional, organised and confident and I have developed interpersonal skills which are all key qualities to have for any job. I have developed my technical skills as I worked on Excel everyday. In addition to this, I am now able to run macros and use investment softwares such as Bloomberg and Datastream. The Graduate Recruitment Team arranged Lunch and Learns for the interns to teach us how to chair a meeting and how to give a presentation successfully.

The Organisation

7. What was the general atmosphere in your office?

★★★★★★★★★☆

Rated 9/10

The working environment is very pleasant and relaxed. All employees were welcoming and approachable.

8. How well organised was the overall work placement or internship set up?

★★★★★★★★★★

Rated 10/10

Standard Life's rectruitment process takes place a lot earlier than other companies and they had offered me the internship by mid December 2010. This was great because I was able to focus on my university studies throughout the 2nd semester where as other students were still going to interviews around exam time in April/May. Between being offered the job and starting in June the Graduate Recruitment team kept me up to date with all my internship details and were quick to respond to any questions I had. An added bonus of the internship is that if you need accommodation, the company arrange and pay for a flat for you and other interns to live in.

9. In terms of personal training and development, to what extent did the company or firm invest in you?

★★★★★★★★☆☆

Rated 8/10

Around once a week I attended an hour presentation on another department within Standard Life which was able to build on my knowledge about how the company worked as a whole. The Graduate Recruitment Team put on Lunch and Learns to help the interns develop professionally.

10. What were the perks on your work placement?

★★★★★★★★☆☆

Rated 8/10

• Subsidised Canteen
• Sports and Social Club
• Above 25 days holiday

11. How appealing are future employment prospects within the organisation?

★★★★★★★★★★

Rated 10/10

I would happily return to Standard Life as an actuarial trainee and build on the experience I have had so far. The study package the company offers is very appealing to those who wish to train to become an actuary as it involved arranged tutorials, a study day every week and rotations around different teams every 2 years.

Other Information

12. Was there a good social scene amongst any fellow placement students/colleagues?

★★★★★★★★★☆

Rated 9/10

There were 10 interns across all departments and we all got on great! We attended a welcome day the week before we started which included a meal at night so we could get to know each other outwith a working environment. During the internship there were lots of social events including drinks after work, nights out, the cinema and Edinburgh Festival shows.

13. What was the cost of living and socialising in the area you worked in?

★★★★★★★★☆☆

Rated 8/10

The cost of living in Edinburgh is quite reasonable. If you live in the city you can walk most places and buses are quite cheap if required so not a lot of money is required for transport. Going out at weekends can be quite expensive but it is still a lot less than London.

14. What was the Nightlife like in the area you worked?

★★★★★★★★★☆

Rated 9/10

Particularly during the festival the night life in Edinburgh is great. There is always something going on as the list of shows is endless and clubs stay open until 5am!

15. Were there many opportunities to get involved in activities outside of work?

★★★★★★★★☆☆

Rated 8/10

Standard Life has a range of sports teams such as football, hockey and softball as well as social clubs such as a film club that all employees can get involved in.

In addition to these questions, is there any extra information you would like to leave about your experiences on your work placement that other students may be interested in?

I would definitely recommend this internship to anyone who is interested in the actuarial profession.

Review 26/26 for Standard Life

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