Actuary

Develop and apply actuarial, mathematical, statistical and quantitative methods to solve problems in business, finance, research and engineering.

Actuary

Actuary

Roles and responsibilities

As an actuary, your responsibilities could include:

  • defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
  • examining financial projections for general insurance companies, finance companies, government and other organisations
  • designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas
  • formulating mathematical models to simulate processes
  • applying models to experimental observations, and adjusting and recasting the models
  • using numerical analysis methods to develop algorithms and perform computations
  • liaising with management and clients to determine the subject or area to be surveyed or examined
  • specifying the data to be collected, and the methodology to be used in collection and analysis
  • evaluating and describing the reliability and utility of source information
  • analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns

Source: Australian Bureau of Statistics

As an actuary, your responsibilities could include:

  • defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
  • examining financial projections for general insurance companies, finance companies, government and other organisations
  • designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas
  • formulating mathematical models to simulate processes
  • applying models to experimental observations, and adjusting and recasting the models
  • using numerical analysis methods to develop algorithms and perform computations
  • liaising with management and clients to determine the subject or area to be surveyed or examined
  • specifying the data to be collected, and the methodology to be used in collection and analysis
  • evaluating and describing the reliability and utility of source information
  • analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns

Source: Australian Bureau of Statistics

Postgraduate Courses To Become

Actuary

Postgraduate study is not necessarily required for this occupation, but may be helpful for career advancement.
Professional requirements
To become a fully qualified actuary you must qualify as a Fellow of the Institute of Actuaries of Australia (FIAA) by completing its examinations, a recognised professionalism course and 12 months practical experience.
Relevant postgraduate courses include: