Actuary

Job Description

An Actuary uses mathematical, economic, statistical and financial analysis and knowledge to identify, evaluate and minimise risk and uncertainty in a variety of business settings.

Careers Ladder

Qualifications

A Bachelor Degree in a related field is needed to work as an Actuary, Mathematician or Statistician. Many Actuaries, Mathematicians and Statisticians complete postgraduate studies.

Complete a Bachelor of Actuarial Studies or a Bachelor of Commerce (majoring in Actuarial Studies) at an accredited university.

The governing body for actuaries is the Australian Institute of Actuaries. To qualify as an actuary in Australia you must ensure that you complete an accredited education program that covers the Institute’s “Part II syllabus”, although exemptions are possible based on your university grades. Then complete the four-module Part III, which is offered by distance through the Actuaries Institute, where you learn how to apply the concepts, processes and technical skills of being an actuary.

Complete the three-year practical experience requirement and the professionalism course in order to become an accredited associate actuary.

Attributes

  • Analytical
  • Devoted
  • Educated
  • Focused
  • Inquisitive
  • Meticulous
  • Neurotic
  • Organised
  • Procedural
  • Resourceful
  • Technological

Key Skills

  • Valuation
  • Communication Skills
  • Life Insurance
  • Management
  • General Insurance
  • Written Communicator
  • Stakeholder Management
  • Analysis
  • Capital Management
  • Finance

Future Prospects

Some Career Pathways of Actuaries are;

  • Data Scientist
  • Mathematician
  • Statistician
  • Senior Actuary
  • Manager, Actuarial Analytics