Wednesday, December 14, 2005

It's Off To Work I Go...Part I

WARNING!!! The following post is really really long. It's the first time I've written about my job and I had a lot to say.

So I’ve been meaning to write posts on a couple subjects, one of them being my job and my experience thus far in the working world. Why has it taken me so long to write about my job? I mean, I spend at least 1/3 of my day there 5 days a week so one would think I would have a lot to talk about. In fact, I do, but part of the reason I have waited so long to write about my job is that I wanted to make sure I had given my job a long enough trial window instead of immediately writing about my experience without having had enough time to ruminate and compare my experience with others. Since I’ve officially been a part of the American work force since I was 14 and having worked every year since then, I had some expectations as well as some hesitations when I graduated and gave up the carefree life of a student for a full-time job; but before I get into all of that, I should probably at least summarize what I actually do.

What Do I Do?
I currently work for Discover Re, a captive insurance, alternative risk transfer, and reinsurance company. Technically, we’re owned by St. Paul Travelers Group (more about this later), but operate relatively independently, handling different lines of business. My official job title is “underwriter trainee,” but personally, I think I’d emphasize the “trainee” more than the “underwriter.” I’m based in our headquarters in Farmington, CT; we have branch offices all over the country. I primarily work with three other just-out-of-college grads who are also “underwriter trainees.” We’re all in our company’s trainee program which is designed to recruit young people into the company (and the insurance business overall) and give them an accelerated career route. So far, the company has been pretty successful at the first part. I’m a part of their fifth class of trainees and of the (I think) 22 people they hired before me, only two are no longer with the company and one of those was kindly “asked” to leave before he even completed his first year. So you can’t fault my company on retention because over 90%, especially with young people, is pretty damn good if not exceptional. In terms of an accelerated career route, I’m not sure how successful they are on this. 5 years in and the farthest anyone has gotten career-wise is to become a full underwriter. I think part of that is just the nature of the business, but, I also think the former goal (and their success with it) is deeply linked with the latter goal (more on this later). As far as what I do, my time is basically split studying/taking tests for my CPCU designation (a professional insurance designation similar to a CPA) and doing ad hoc projects with different departments. Sadly, it hasn’t been an even split, leaning more heavily towards the studying portion. I’m required to complete 4 tests by the end of my first full year of employment. Also, some time next year, we have a 6-week rotation at 3 of our branch offices (2 weeks at each). I’m keeping my fingers crossed on NYC, Chicago, and San Francisco.


Where’s The Fire?

Ok, so that’s a summary (albeit not very short) of my current job. As a first job, I cannot complain. I’m paid well and have good benefits (for the moment.) I generally like the people I work with and the hours are pretty much to die for. I’m expected to work a 9 hour day with a one hour lunch plus I get a lot of paid vacations. So given all of this, what would there be to complain about? Well, to be honest, a lot.

Boredom Strikes Back
First off (and most importantly) I’m bored out of my friggin’ mind. Every day is the same thing and I don’t even have enough work to do to fill the day. As I said earlier, my job is supposed to be a mix of studying for my CPCU and doing ad hoc work for different departments. The ad hoc work is pretty much nonexistent. A couple weeks ago, I did a rotation with one of our captive insurance groups, which was good. I was actually sitting in on meetings and assigned projects. The main problem was that my assignment with the group was for only six weeks. With the first week being wasted as an “orientation week,” and the sporadic workflow, it probably amounted to a total of one week of work. Worst of all, none of the work was necessarily substantial or material. The reason behind that, in my opinion, was two-fold. First, some of the more complicated stuff was just easier for someone more senior to do rather than to have me do it. I can understand that to some degree. Second, because of the finite time I was assigned to the group, there was no reason to give me any long-term projects. Instead, I was relegated to assisting on projects, which just frustrated me because I wanted to do my best, but since none of the projects were really “mine,” I often found myself lacking information or access to things I needed to really do what I was assigned. What resulted was me turning in things that were sufficient, but not amazing given my lack of resources. I also got called out for mistakes on one of the reports I wrote. One of the mistakes was out of my control because it required me to analyze information I was never given. The second mistake was not even a mistake. My boss just didn’t read my report all the way through. That pissed me off because to me, it meant that my work really didn’t matter. At least not enough to read. Other than that experience, my actually work experience has been very limited. I’ve even e-mailed my boss and other people, telling them that I’m looking for work to do, but to no avail. So instead my time is spent studying.

The Bane of My Existence: Studying
For those who went to college with me, it was pretty obvious that I had a problem with studying, going to class, and anything school related. Part of it I attribute to the fact that I have a very short attention span so sitting and studying or listening to someone lecture takes a lot out of me. Part of it was because I was just really busy doing other things that I valued more. Given that, imagine me studying for 8 hours straight, five days a week. I shudder just thinking of that, but some weeks, that’s what my job is. If I don’t have a project to work on, I basically have nothing else to do but study for my CPCU exams. I have to pass four out of a possible eight tests by June. I already passed five and by tomorrow, I’ll have passed six; I already plan on having the last two taken and passed before the end of January. As much as I hate studying, when you have nothing else to do and feel an obligation to actually do something at work (I mean they are paying me), that’s what I’m left with. I’ve honestly never studied so much and so hard in my life. I take meticulous notes, make flash cards, take practice tests, etc. in preparation for my exams. Most of this would have been unheard of for me in college, let alone doing all of this weeks before I actually take the exams.

To be clear, I don’t actually spend my whole day studying. I’m on the internet a lot of the time, which, thankfully, my company doesn’t frown upon too much. But if they did, I’d have to fight with them about it because I just can’t fill the day otherwise. I haven’t sunken to the level of playing Sudoku online. I leave that to my co-workers.

From The Farm To The Board Room
A couple things that have made work harder are things that are kind of out of my control and out of the company’s control. The thing that has the greatest impact is my boss quitting. He left for a presumable better job at the end of November so I’ve technically been without a boss since then. It’s actually been longer than that because he probably “checked out” back in mid-September.

I had inklings that something was going on. At first, he was very involved with us and would meet with us often or at least check in on our progress. That quickly changed as seeing him was a rare occasion and meetings with him, unless instigated by myself, became nonexistent. To his credit, he was very busy and was being called upon by a lot of people in the company to do work, but it was obvious that his role as my boss was not a priority.

Another big change that has affected the work environment is the company’s relationship with St. Paul Travelers. As I said earlier, we’re technically owned by St. Paul Travelers. We’ve actually been owner by them for a long time, but have acted as a separate entity for the most part. It was the best of both worlds: we reaped the resources and connections of a large corporation but were able to maintain a small, entrepreneurial style of business. Back in April/May, my company tried to break off from Travelers and go public. Things looked good at first, but then Travelers, after many years of basically looking the other way, realized how profitable my company was and the niche market it had. Long story short: Travelers nixed plans for us to go public, our founder (a Williams alum) left, and since then we’ve started to become more integrated with Travelers.

The main point of all that is we’re becoming more corporate. Being new to the company, I don’t notice all the changed, but you can hear it around the office. Some things I do notice include: fewer holidays (no more celebrating Columbus Day L ), no more free health care (that was probably one of the best benefits we had; we paid absolutely nothing into our health care plan before), and less maneuverability in the decision-making process. Add all that with my boss leaving and it kind of puts the whole training program I’m a part of in the air.

There is still much more to post about all this and some recent office rumblings are making things interesting. Part II of this coming soon. Sorry for the long post. Thanks to those who patiently made it through.


1 Comments:

Blogger Nob said...

I'm waiting for part 2 to comment on actual thoughts...

5:07 PM  

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