Actuary

Accounting, Banking & Financial Services

ANZSCO ID 224111

Summary

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

Employment Pathway

A bachelor degree in actuarial studies or actuarial science is needed to work as an Actuary. Many workers have a postgraduate qualification.

Registration with the Actuaries Institute is required.

Top Skills Required

Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems
Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one
Mathematics - Using mathematics to solve problems
Reading Comprehension - Understanding the meaning of written sentences and paragraphs
Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times

Key tasks

Defines, analyses and solves complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends.
Examines financial projections for general insurance companies, finance companies, government and other organisations.
Designs new types of policies, assesses risks and analyses investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas.

Facts about this occupation

11% Growth

88% Full-time Share

$1,931 Avg Pay/Wk

1,800 Workers

33 years Avg Age

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Required Skills

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