Actuaries deal with risk, ensuring their clients have all the data and information they need to make the right decision for their company. This requires the actuary to have an astute understanding of their client’s needs, market conditions, trends, legislation changes and various other commercial aspects.
Actuaries present their client with the cost implications for the different options through the analysis of past and present data. Therefore it is paramount that actuaries are able to explain their findings to potentially number-shy clients, in an easy to understand way.
As well as being highly numerate actuaries are also creative when problem solving, innovative and personable when dealing with clients.
Actuarial careers are attractive for students who want to use their mathematical and statistical modelling skills and apply them to everyday business problems.
There are over 7500 Actuary Fellows in the UK, with 41% of UK trained actuarial professionals working internationally. Actuaries work within specialist actuarial companies and in-house, within a range of sectors including consultancy, finance and investment, insurance and pensions.
Take an average of 3-6 years to complete, and consist of exams, module completion, log book entries and the successful assessment of employment skills. These must be completed alongside actuarial employment. Once you have successfully completed the qualifications you will become a Fellow of the Institute and Faculty of Actuaries. More information about the professional qualifications can be found at Actuaries.org.
- Download the Vault guide to Actuarial Careers for anoverview
- Visit The Actuarial Profession website for information on becoming an actuary
- Go to the Prospects website for a description of thejob role
- Keep up-to-date with The Actuary magazine online edition for sector news