Actuary

Summary

Actuaries analyse mathematical, statistical, demographic, financial and economic data in order to predict and assess the long-term risks involved in financial decisions and planning.

Duties & Tasks

Actuaries may perform the following tasks:

  • analyse statistics relating to factors such as death, illness and accident, and current trends in the economy to design new types of life insurance and superannuation policies
  • work out appropriate premiums or contributions and rates of return by calculating the future probabilities of events such as unemployment, illness or changes in interest rates
  • make sure that insurance companies have sufficient financial reserves to meet claims
  • advise companies on investment policy and the distribution of profits to policyholders
  • undertake financial projections for, and measure and analyse the investment performance of, life insurance companies, financial institutions and government organisations
  • provide advice to potential buyers or sellers of companies.

Personal Requirements

  • good written and oral communication skills
  • good mathematical ability and capacity to solve complex problems
  • able to think clearly and logically.

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