DES MOINES, Iowa--(BUSINESS WIRE)--The Principal Financial Group® congratulates the newest member of its actuarial community, Roy Ju, for being officially named the youngest person ever, at the age of 20, to receive the Society of Actuaries’ (SOA) top professional designation. A junior at Drake University, Ju has served as an actuarial intern for The Principal since February 2014 and begins his full-time position at The Principal® when he graduates this spring.
Ju, a native of Cedar Falls, Iowa, received the prestigious Fellow of Society of Actuaries (FSA) designation on August 26. Requirements to attain the designation include an extensive series of exams, courses, and validation of educational experience outside of the SOA. The average age for attaining the FSA distinction is 31 years old and there are currently 15,938 FSAs around the world.
“As a fellow Drake alumni and graduate of the company’s Actuarial Development Program, I am proud to welcome Roy into The Principal family full time,” said Larry Zimpleman, chairman of The Principal. “This is a shining example of how our actuarial program is helping to shape the next generation of talent in one of today’s most stimulating industries.”
The Principal’s Actuarial Development Program (ADP) is a challenging rotation focused on developing future leaders. Each student completes three 18-24 month rotations through the company’s businesses, developing foundational business acumen and leadership skills. In addition, the ADP students receive support to pass a series of 11 professional exams and projects to attain an FSA designation. Students generally attain their FSA two to four years after entering the program, as compared to the industry average of six to ten years. Currently, The Principal employs 120 credentialed actuaries, a majority being ADP graduates. There are currently 25 actuarial students in the program.
According to the United States Department of Labor, employment of actuaries is projected to grow 26 percent from 2012 to 2022, much faster than the average for all other occupations. Actuaries must have a strong background in mathematics, statistics, and business; this diverse skillset provides value throughout the business world and has increasingly driven interest in the career from students and young professionals.
“This achievement is a gratifying culmination of my hard work and studies,” said Ju. “I’m now looking forward to embarking on the next stage of my career with The Principal in an incredibly rewarding industry.”
About the Principal Financial Group
The Principal Financial
Group® (The Principal®)1 is a global
investment management leader offering retirement services, insurance
solutions and asset management. The Principal offers businesses,
individuals and institutional clients a wide range of financial products
and services, including retirement, asset management and insurance
through its diverse family of financial services companies. Founded in
1879 and a member of the FORTUNE 500®, the Principal
Financial Group has $539.9 billion in assets under management2 and
serves some 20.1 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange under the
ticker symbol PFG. For more information, visit www.principal.com.
1 “The Principal Financial Group” and “The Principal” are
registered service marks of Principal Financial Services, Inc., a member
of the Principal Financial Group.
2 As of June 30, 2015.
