A Day In The Life
Financial Services Industry
Financial Services
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.
Financial Services Industry
Actuaries
Average
$123,870
ANNUAL
$59.55
HOURLY
Entry Level
$62,420
ANNUAL
$30.01
HOURLY
Actuaries
360
Projected job openings through 2030
Actuaries
Supporting Programs
Actuaries
Actuaries
01
Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
02
Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
03
Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
04
Provide advice to clients on a contract basis, working as a consultant.
05
Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
06
Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
07
Negotiate terms and conditions of reinsurance with other companies.
08
Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
09
Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
10
Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
Actuaries
Common knowledge, skills & abilities needed to get a foot in the door.
KNOWLEDGE
Mathematics
KNOWLEDGE
Economics and Accounting
KNOWLEDGE
English Language
KNOWLEDGE
Computers and Electronics
KNOWLEDGE
Law and Government
SKILL
Critical Thinking
SKILL
Judgment and Decision Making
SKILL
Mathematics
SKILL
Reading Comprehension
SKILL
Active Listening
ABILITY
Mathematical Reasoning
ABILITY
Number Facility
ABILITY
Deductive Reasoning
ABILITY
Inductive Reasoning
ABILITY
Near Vision
Financial Services
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