i'm an undergrad and no expert, but this is really good wake-up advice for people who've not just graduated but are in the midst of undergraduate studies too. many in my school who study finance have the mindset that they are a shoo-in for investment banking/sales and trading roles. but the reality is, both do the same things when they graduate regardless what role they get - they do the ***t work of 3rd year analysts, Associates, VPs and maybe run errands for clients. it doesn't matter if you work in a boutique or a BB, or even FO or BO, your job is to smile and still get the dirty work done.

You can try to look for roles that you're interested in, but an actuarial background is best suited eventually for a role in IB Risk or some other Risk management related role. Your background sounds impressive but you seem confused and too idealistic. Your options now given such a lousy hiring market probably are

1. stick it out and do an MBA related to risk mgmt, or even applied finance, then reapply
2. jump for a junior analyst role in a fund mgmt house/PE/VC - something similar to a fresh grad job (short term pain for long term gain in terms of pay vs career development, btw you have to network your ass off to get those jobs cos they only take in Ivy/Oxbridge)

i believe if you want something you'll eventually get it, but dont chart your course towards it. gotta let things play out and see how they go. just don't quit again when you get your 'ideal' job due to some other reason. haha, good luck!