Also called: Actuarial Analyst, Actuary, Pricing Actuary, Product Development Actuary
What they do:Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
On the job, you would:
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
Math and Science
- arithmetic, algebra, geometry, calculus, or statistics
- accounting and economics
Arts and Humanities
- English language
Engineering and Technology
- computers and electronics
- thinking about the pros and cons of different ways to solve a problem
- using math to solve problems
People and Technology Systems
- thinking about the pros and cons of different options and picking the best one
- measuring how well a system is working and how to improve it
- noticing a problem and figuring out the best way to solve it
- choose the right type of math to solve a problem
- add, subtract, multiply, or divide
- listen and understand what people say
- read and understand what is written
Ideas and Logic
- use rules to solve problems
- make general rules or come up with answers from lots of detailed information
- see hidden patterns
People interested in this work like activities that include data, detail, and regular routines.
They do well at jobs that need:
- Analytical Thinking
- Attention to Detail
You might use software like this on the job:
Financial analysis software
- GGY AXIS
- Oak Mountain Software AnnuityValue
Analytical or scientific software
Data base user interface and query software