Actuary

Actuaries predict and assess the financial risks and impacts of future events. They work in areas such as insurance, superannuation and investment.

Job opportunities:

Length of training: 5-8 years of training usually required.

About the job

What you will do:

• collect and analyse statistics about past financial events
• forecast the effect of future financial events
• analyse and solve business problems using mathematical and statistical modelling techniques
• give advice to businesses and government on managing financial and other business risks
• prepare reports and advise on insurance, investment, superannuation and management of funds
• calculate the assets and liabilities of insurance companies, and determine their financial strength
• help to determine a company’s financial

Skills and knowledge needed:

• knowledge of maths, statistics, economics, accounting, finance and investment
• understanding of the risks involved in running a business
• knowledge of business management and law, including economic and social

How to enter the job

To become an actuary it is recommended you have:

• a Bachelor’s degree in mathematics or statistics or actuarial science
• an Honours degree, which can be in a non-mathematical

Secondary education:  Good grades in English, and maths with calculus and statistics are required. Economics is also useful.

Personal qualities needed:

• accurate and methodical
• able to communicate well
• able to write reports
• skilled at analysing and interpreting information
• good at solving problems and making

Useful experience:

• work for an insurance company
• accounting and computer work
• experience analysing financial statements
• any work involving maths and

Related jobs:  Accountant, Finance Manager, Insurance Loss Adjuster, Insurance Claims Officer, Economist.

Vocational pathways: Services industries.