Have you ever considered a career in actuarial services? If instead of a “Yes” or “No” answer, your response was “What are actuarial services?” then we are sure you are not the only one. Whilst careers such as teacher, lawyer, and accountant are all well known, and the path to becoming one fairly clear, the path to becoming an Actuary is less so.
That is why we are going to go through, first, what an actuary is and the important work they do, and then we will outline the skills you need to become an actuary and to follow a successful career in actuarial services.
What Does An Actuary Do?
It stands to reason that if you are going to consider a career as an actuary, it will help to know what they do. Actuaries work within the finance sector advising upon products such as investments, insurance and pensions. Their clients can include both businesses and private individuals.
Their primary role involves the assessment of risks, and they do this by using tools such as mathematical models, statistical models, historical data, and the analysis of trends, to name but a few. By bringing these skills to the fore, an actuary can advise their clients as to the level of risks involved in a given scenario, and that allows those clients to make better informed financial decisions.