No Single Path: My Journey Through Actuarial Science

There is no single path to becoming an actuary, and Greg Smith’s journey is proof of that. Now serving as a mentor for the STEM Stars Actuarial Scholars Program, Greg brings decades of experience and insight to students just beginning their actuarial journeys. From his early career in the Air Force to a wide-ranging actuarial career across multiple industries, his path has been shaped by curiosity, persistence, and a willingness to explore new opportunities. In this blog, Greg shares how he discovered actuarial science and how students can navigate the many career paths available within the profession.

I became interested in actuarial science when I was stationed at KI Sawyer Air Force base in the upper peninsula of Michigan. At the time, I was working as a medical logistics officer at the base hospital and was taking calculus on the side. I’d taken statistics a couple of years before while I was finishing course work for my MBA. My wife has always been my closest advisor; so, when I told her that I wanted to find a way to combine math and business she chatted up a friend of hers from the University of Illinois. Her friend said, “has he heard of actuarial science?”

I was 32 when I got out of the Air Force and took my first actuarial class at Illinois State University. At the end of my first semester, I failed Exam 140 (now Exam FM). Undaunted but chastened, I enrolled in the University of Illinois where I took P&C Topics with Stephen D’Arcy, FCAS and Life Contingencies with Esther Portnoy, FSA. Although I took a few exams on the CAS syllabus, I end up finishing my FSA after re-locating to Connecticut. My decision to finish on the SOA syllabus can be traced to my past work in healthcare, although my work as an actuary has crossed into several domains.

Over the years, I’ve worked as actuary in healthcare, reinsurance, life insurance and consulting. My consulting work has touched on financial reporting, model building, assumption setting and data work, including software design and project management. I sold actuarial software when I was at Tillinghast – now part of Willis Towers Watson. I taught actuarial science (interest theory, survival models and credibility theory) part time for eight years at the University of Connecticut. I got my teacher’s certificate and taught high school math for two years. I worked as a researcher and wrote strategic studies on insurance industry issues and opportunities.

I look at this body of work and see a career that’s helped me be a lifelong learner. I also know that I’ve been lucky. My bosses, even back to the military, opened doors and gave me opportunities to try things, to color outside the lines. All the years of thinking deeply about exam and work problems turned into a career that was consistently challenging and meaningful.

I retired from PwC last November after 30 years as an actuary and am now volunteering as the Program Chair for the STEM Stars Actuarial Scholars Program. In my role, I get to work with terrific students who are just starting to take exams – getting ready to fly.

Greg’s career highlights the flexibility and depth of the actuarial profession. Whether working in healthcare, insurance, consulting, or education, actuaries have the opportunity to shape careers that evolve over time. For students exploring actuarial science, his journey is a reminder that there is no “right” path, only the one that aligns with your interests and experiences. With curiosity, persistence, and the right support, the possibilities within this field are wide open.