Actuary
224111 · Sedentary Career data Verified
Actuaries predict and assess the financial risks and impacts of future events. They work in areas like insurance, superannuation and investment.
Most common salary $99k – $244k
Upper salary up to $336k
Training 6-8 years
Description
Analyses mathematical, statistical, demographic, financial or economic data to predict and assess the long-term risk involved in financial decisions and planning. Actuaries work in areas such as insurance, superannuation, investment and any other field where future financial risks need to be evaluated and managed.
Typical work tasks
- Defines, analyses and solves complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends; examines financial projections for general insurance companies, finance companies, government and other organisations; designs new types of policies, assesses risks and analyses investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas.
Typical work environment
- Works indoors in offices connected to public and private sector organisations.
- Works in adequately lit, heated, ventilated and clean, well maintained offices.
Typical physical and mental demands
- Sedentary physical demand. Frequently sits in offices or at meetings.
- Occasionally stands and walks around the office and wider workspace in the process of collecting data.
- Lifting, carrying or pulling is not a significant component of the job.
- Bending, squatting or crouching is not a significant component of the job.
- Stretching, twisting, climbing is not a significant component of the job.
- Constant to frequent repetitive hand and finger movements are required through the use of calculators, computers and writing.
- Mental skills necessary include a high level of cognitive functioning with analytical, computing, report writing, communication, interpersonal, planning, organisational, problem solving, critical thinking and decision-making capabilities.
Entry signal Reviewed
Requires a substantial formal qualification.
Entry barrier Formal qualification
Licence / registration No licence required
ANZSCO skill level 1
Next-day ready No
How this was determined (model-generated): Actuaries need a bachelor degree plus professional exams and Fellowship of the NZ Society of Actuaries (years); a substantial qualification, but membership is professional not a statutory licence.
Entry Requirements
- Most occupations in this unit group have a level of skill commensurate with 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). To become fully qualified actuaries must pass exams and then register as a Fellow of the New Zealand Society of Actuaries.
Further Comments
- There are opportunities for flexibility of movement.