Actuaries evaluate risk and opportunity, applying mathematical, statistical, economic and financial analyses to a wide range of business problems.

Duties & Tasks

Actuaries may perform the following tasks:

  • analyse statistics relating to factors such as death, illness and accident, as well as current trends in the economy, to design new types of life insurance and superannuation policies
  • determine appropriate premiums or contributions and rates of return by calculating the future probabilities of events such as unemployment, illness or changes in interest rates
  • ensure insurance companies have sufficient financial reserves to meet claims
  • advise companies on investment policy and the distribution of profits to policyholders
  • undertake financial projections for, and measure and analyse the investment performance of, life insurance companies, financial institutions and government organisations
  • provide advice to potential buyers or sellers of companies.

Personal Requirements

  • enjoy problem solving
  • good at mathematics
  • strong written and verbal communication skills
  • ability to think clearly and logically
  • focus and an eye for detail.

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