06 03 NEWS
Some updates on the financial services sector
04 RISK MANAGEMENT An increasingly important opportunity for actuaries
06 OVERVIEW The many strengths of Scottish financial services
08 HOME COMFORTS Living in Scotland is safe and affordable
10 LAND OF OPPORTUNITY More people are coming to Scotland to live and work
12 INNOVATIONS New support solutions from Scottish companies
14 PRACTICALITIES All you need to know to live, work or study in Scotland
16 OPPORTUNITIES Scottish financial services continue to expand
18 A WARM WELCOME Hospitality is a hallmark of Scotland, for good reason
Front cover: Martin Potter, Partner and Consultant Actuary with Hymans Robertson who heads up the company’s Edinburgh office.
Welcome...
Welcome to this special edition of TalentScotland magazine. As Chief Executive of Scottish Financial Enterprise, I’m delighted to promote the great opportunities that Scotland provides for people wanting to develop their careers in financial services and, in particular, in the actuarial profession. Life insurance was invented in Scotland
thanks to two public-spirited clergymen in the 1700s who were concerned about finding a way of financially supporting their colleagues’ families after their death. This concept quickly caught on and, before long, many organisations across Scotland were using insurance products – and early actuarial skills – to provide for their beneficiaries.
Scotland’s strong heritage in financial services has created a vibrant and diverse industry
Scotland is still a key location for actuaries to practise their skills. It is estimated that one in ten of the Actuarial Profession’s members are working in Scotland – and when you consider about half of these members work overseas, that’s a very high proportion of the UK’s actuary population working in Scotland. That’s not surprising when you
consider that one in five jobs in the UK pensions industry are based here in Scotland. We’re not just an important
This publication has been produced by TalentScotland, part of Scottish Development International (SDI). For more information about the exceptional jobopportunities and exciting lifestyle awaiting you in Scotland please visit
www.talentscotland.com
The views expressed by contributors are their own and do not necessarily reflect those of SDI.
To contact the editor please email:
info@talentscotland.com
Written and designed by Connect Communications
www.connectcommunications.co.uk
financial services centre in the UK, but we’re also a big player on the international stage too. Scotland is the fourth largest
centre in Europe for asset management after the UK, Germany and France, with more than £750 billion under management. All the big international players are here and this has attracted
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www.talentscotland.com/financialservices
a host of global asset servicing companies to our shores, who are serving clients around the clock and around the world. At the moment there is a strong demand
for actuaries in the insurance sector to work on the implementation of Solvency II and we can expect this high level of demand to continue to grow as the raft of new regulations across the financial services industry continues. We’ve got great skills here already but we
can’t be complacent – we’ve got to promote the opportunities available in Scotland to the wider world to continue to attract the best talent here. Scotland’s strong heritage in financial
services has created a vibrant and diverse industry that offers a wide range of opportunities for people who want to progress their careers – and also enjoy a work/life balance that is the envy of many financial centres around the world.
Owen Kelly, Chief Executive, Scottish Financial Enterprise
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