Actuaries evaluate risk and opportunity applying mathematical, statistical, economic and financial analyses to a wide range of business problems.
To become an actuary you usually have to study actuarial studies or actuarial science at university. To get into these courses you usually need to gain your Senior Secondary Certificate of Education. Prerequisite subjects, or assumed knowledge, in one or more of English and mathematics are normally required. A number of universities in Australia offer degrees in these areas. Universities have different prerequisites and some have flexible entry requirements. Contact the institutions you are interested in for more information. For full details, refer to the entries on the website at www.goodcareersguide.com.au or university handbooks. You may also consider other degrees that emphasise mathematics, statistics or economics.
Actuaries may perform the following tasks:
This is a small, highly skilled profession, providing expertise that is in steady demand throughout the world. Government, insurance, superannuation, wealth management, investments, health financing and banking are the more readily recognised fields in which actuaries work, but they also work in new, high-growth fields, such as data analytics, energy resources and the environment. Many actuaries also hold executive positions in the operational management of financial institutions. Some actuaries work as consultants. Entry to this occupation is restricted by the standards required.