Occupation Description


	Occupation: 224111 Actuary

Analyses mathematical, statistical, demographic, financial or economic data to predict and assess the long-term risk involved in financial decisions and planning. Registration or licensing is required.

Skill Level: -
The entry requirement for this occupation is a bachelor degree or higher qualification. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification (ANZSCO Skill Level 1).

Tasks 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

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