Actuary - a person who possesses a qualification for risk assessment especially in such areas as insurance and demographics associated with random events.
Actuary - a professional analyst, uses mathematical methods for the production, analysis and solution of complex problems in business, finance and social services, actuary assesses individual and corporate risks and generates the correct financial insurance and pension schemes.
Actuarial skills are useful for many industries, including health care, pensions, insurance, banking and investment, where one decision could have serious financial consequences.
The American Academy of Actuaries requires that, if the actuary is different from some standard practices must explicitly qualify his report to disclose his client, that the calculations were performed using a method other than that defined as suitable for the circumstances in question.
Job
Global Actuarial Recruitment, with a staff of 60, is the largest actuarial recruitment organization worldwide. We perform contingent and retained searches in health, life, annuities, property & casualty, investments, pension and other actuarial disciplines. Positions that we work on are with reinsurers, insurance companies, consulting firms, bureaus and a variety of other employers of actuaries. These opportunities are from entry level through actuarial analyst, actuarial assistant, ASA, FSA, ACAS, FCAS, EA, consulting principals, chief actuaries and senior management.
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Types
About half of all actuaries work for insurance companies. Most of these work for life and health insurers, but a growing percentage are working for auto and property insurers. Actuaries who work for insurance companies perform many duties, including data research and setting premium rates.
About one third of all actuaries work for consulting firms. Most of these actuaries deal with employee benefits and perform duties such as advising corporations how to manage their pension and compensation plans. There are also other consulting opportunities available, including property/casualty consulting
Information
Regardless of specialty, actuaries assemble and analyze data to estimate probabilities of an event taking place, such as death, sickness, injury, disability, or property loss. They also address financial questions, including those involving the level of pension contributions required to produce a certain retirement income level or how a company should invest resources to maximize return on investment in light of potential risk. Moreover, actuaries may help determine company policy and sometimes explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public in general.
Do you ever feel like people are taking a lot of unnecessary risks? Did you watch the kids in high school, doing all the wild and crazy things they do, and wonder why they were so reckless with their very lives? If yes, then you might be the type of person who analyzes everything and calculates the risks people take. You might be good at calculating the odds in insurance and finance. You might be interested in actuarial jobs