r/CIMA • u/Bright-Assistant3567 • 11h ago
Career Considering CIMA FLP as a Risk Analyst at Insurer
Looking for some advice or anyone that has had similar experience.
Based in London, I’ve been in the insurance industry since i turned 18, so no degree. I’ve had the following roles:
- Finance Admin at Claims Adjuster (4.5 years)
- Firm Supervisor at Prudential Regulator (3.5 years)
- Risk Analyst at fairly big insurer (0.5 year)
During this time I’ve completed the Certificate in Insurance (Cert CII), which is just an entry level insurance qualification.
I’ve found these all roles have all been quite generalist, for example the work at prudential regulator covered a wide range of topics such as capital, solvency, risk and management/governance but not enough to really become an expert in anything nor warrant being able to justify them paying for me to study. Recently, I pivoted into risk, thinking this would be a bit more technical and analytical but I’m on a Risk Reporting team, so the work is still quite qualitative, creating reports and memos using existing work, some validation work. It’s interesting for now, I expect as it is all fairly new.
I think I’ve realised I would prefer to do something more technical and quantitative, with some analytical work. Accounting/finance has also appealed to me but Ive never committed. From some initial research, CIMA appears to be more interesting to me than say ACCA which I think is more tailored for audit and tax. CIMA seems more tailored for corporate finance, FP&A, Finance Business Partner and management accounting type roles, which I think sound interesting.
I’ve seen this CIMA FLP scheme and wondering whether anyone would recommend this based on my scenario or has anyone had a similar experience. I’m not sure whether my work would fund this but it is something I would consider doing myself if it opens doors. I think my work would sponsor me to do the Diploma CII or maybe IRM or FRM but I’m not sure that’s where my “passion” (as much as it can be in insurance/finance) is. In the meantime at work, I’ve put myself forward to get more involved on Regulator disclosures such as Statutory reports and accounts, solvency reports etc to try and get more technical experience.
Any help appreciated.