Registration open soon
Data and analytics are at the heart of a digital revolution that is transforming how people manage their money, allowing us to tackle some of the fundamental issues that we face as a society. For example: helping young people to get on the property ladder or older people to enjoy their retirement.
This workshop will highlight opportunities we have to use data and analytics as a force for good in the area of financial well-being by allowing participants to work with real world data to gain their own insights.
It will focus on an analysis of pension scheme experience data, and participants will be expected to analyse the data provided, pick out some key features, and consider the consequences for financial planning.
The event will either be held in Hymans Robertson’s offices in the centre of Glasgow, from 4PM to 7PM (so that it does not compete with the normal school day) on Tuesday the 19th March . Any travel expenses will be reimbursed.
The workshop is targeted at S5/S6 pupils who are either sitting or have achieved Higher Maths. It would be preferable, but not essential, that attendees have some experience using Microsoft Excel or R for rudimentary data wrangling and analysis. We can provide some links to relevant online training materials ahead of the workshop if attendees want to brush up their knowledge ahead of the event. Given the interactive nature of the workshop, numbers will be limited to 15. The intention is to work in small groups, with each group being supported by a Hymans Robertson employee, some of whom are active STEM Ambassadors.
The data and supporting technology will be provided on the day.
Each small group will independently work with the data set and present their findings back to the wider group at the end of the workshop.
The objectives of the workshop are to:
• Provide a general overview of Financial Technology (FinTech) and the impact that this is having on the industry;
• Give an insight into the important role that data plays in fuelling FinTech and the types of jobs that are involved in data and analytics;
• Provide an overview of the concepts of mortality and longevity and why these are important to the financial services industry;
• Gain hands on experience working in small teams with some real-world data to gain an insight into longevity trends;
• Discuss the challenges that these trends present to society and how we could use data to help address them;
• Apply this knowledge to think about our own plans with respect to financial planning and wellbeing.
The data provided for the workshop will be sourced from (suitably anonymised) real pension scheme data, as held by Club Vita. A sister company to Hymans Robertson, Club Vita is the leading longevity specialist in the UK, with a comprehensive data set covering around 1 in 4 defined benefit pension scheme members. They work closely with over 200 pension schemes to help them understand their mortality risks, as well as the majority of insurers in the UK.
The Hymans Robertson Foundation has for several years been working closely with a number of local charities to help create and run financial wellbeing courses, particularly targeting disadvantaged young people. As such, we have a number of members of staff who have had experience of talking to young people on financial matters, which will be useful experience when creating this workshop.