Actuaries

Also called: Actuarial Analyst, Actuary, Consulting Actuary

Career Cluster: Finance
What they do:
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
On the job, you would:
  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
KNOWLEDGE

Engineering and Technology
  • computers and electronics
Math and Science
  • arithmetic, algebra, geometry, calculus, or statistics
Arts and Humanities
  • English language
Business
  • accounting and economics
SKILLS

Basic Skills
  • reading work related information
  • thinking about the pros and cons of different ways to solve a problem
People and Technology Systems
  • thinking about the pros and cons of different options and picking the best one
  • measuring how well a system is working and how to improve it
Problem Solving
  • noticing a problem and figuring out the best way to solve it
ABILITIES

Math
  • choose the right type of math to solve a problem
  • add, subtract, multiply, or divide
Ideas and Logic
  • make general rules or come up with answers from lots of detailed information
  • group things in different ways
Verbal
  • communicate by speaking
  • communicate by writing
PERSONALITY

People interested in this work like activities that include data, detail, and regular routines.

They do well at jobs that need:
  • Analytical Thinking
  • Attention to Detail
  • Integrity
  • Dependability
  • Achievement/Effort
  • Initiative
TECHNOLOGY

You might use software like this on the job:

Presentation software
  • Microsoft PowerPoint
Data base user interface and query software
  • Microsoft SQL Server
  • Oracle Database
Financial analysis software
  • Oak Mountain Software AnnuityValue
  • Pricing software
EDUCATION


bachelor's degree or certificate after college
usually needed
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JOB OUTLOOK


Bright
New job opportunities are very likely in the future.


Salary:
High: $209,310.00
Median: $120,000.00
Low: $75,380.00
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