Actuary
Actuary Career
Do you like mathematics and statistics? An actuary profession may be what you are looking for if you like numbers and
solving problems with a logical mind.
You can become a specialist in various field such as life assurance, general insurance, investments and pensions. In
the life assurance field, actuaries build and use mathematical models based on statistical data to calculate the premium
chargeable to policyholders. Other than that, they formulate investment strategies, design insurance products as well as
estimate the amount of future claims from past datas.
Those new to the job will do a lot of number crunching. As you progress, this become less and may make up only 10% to 20% of
what actuaries do. You will spend more time trying to make conclusions and decisions based on numerical analysis and
communicating them effectively to non-actuaries. On the investment side, a lot of financial analysis needs to be done in
order to advise shareholders and management on their corporate strategies.
To become an actuarian, you will need a degree in either Actuarial Science or Commerce and Finance. However, those with
Actuarial Science degree will have a head start. It really depends on a person's interest as even accountants and engineers
chose to become actuaries. Becoming a qualified actuarian is a long but rewarding journey as it can take from five to fifteen
years to pass all your papers.
There are a lot of prospects for actuaries as they are not limited to working in life insurance or consulting firms. Other
areas they can venture into includes investment and financial services or even lecturing. They can also become investment
bankers or risk managers.
This profession will definately keep you mentally alert as well as providing you with many challenges such as getting your
point across to non-actuaries. Your remuneration will also be commensurated over time as you become more knowledgeable and
experienced.
Back to Actuary Career Home Page

|