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Passionate about Mathematics Career as an Actuary

  • Writer: AHB
    AHB
  • Apr 14
  • 2 min read

Having a passion for mathematics is essential to pursue a career as an actuary, and holding a degree in mathematics, statistics, or economics can be beneficial.


As an actuary, you will apply your mathematical abilities to provide reliable guidance on the risks associated with future events. You will forecast the financial consequences of these events for companies and governments. With your expertise in risk management, you will assist in developing models and preparing for the future in an ever-evolving world.


Responsibilities

As an actuary, you'll need to:

  • Apply mathematical modeling and statistics to evaluate risks, such as pension liabilities for insurance pricing.

  • Analyze statistical data to calculate accident rates for demographics.

  • Communicate complex topics clearly.

  • Create new financial products.

  • Prepare presentations, reports, and quarterly updates.

  • Manage trading risk in investment banking.

  • Deliver reports and advise on risk mitigation.

  • Guide on investment management and pension issues.

  • Collaborate with IT for regulatory compliance systems.

  • Coordinate with clients and stakeholders.

  • Oversee staff.

  • Engage in mergers and acquisitions.


Types of Actuary

Actuaries traditionally work in the following areas:

  • Insurance

  • Pensions

  • Banking, Finance, and Investment.

In these sectors, new opportunities are arising in:

  • Health and care

  • Cyber security

  • Technology

  • Data science

  • Climate change.


Qualifications

Although this area of work is open to all graduates with strong numerical skills, the following degree subjects may increase your chances:

  • Actuarial science or actuarial mathematics

  • Mathematics or statistics

  • Economics

  • Risk management

  • Maths-based subjects such as engineering, physics, chemistry.


Skills

You'll need to have:

  • A high level of numeracy

  • Good communication skills, including the ability to convey complex information to clients

  • Analytical, research and creative problem-solving skills

  • IT skills

  • The ability to write clear reports

  • Excellent people, interpersonal and listening skills

  • A strong teamwork ethic

  • Self-discipline, determination and an appreciation of the demands of studying while working

  • The ability to take responsibility

  • Sound judgement and a genuine interest in business

  • Commitment to an actuarial career






 
 
 

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