In spite of the very important role of actuaries, in most countries the profession is not well known, sometimes not even known at all. We can sum up their activities as follows:
Actuaries cope with uncertainty and financial risks.
To that end actuaries design schemes to control the financial risks or future uncertainties, which, as you know: are plentiful ...
Actuaries apply mathematical, statistical, economic and financial analyses and theories to solve a wide range of real business problems: in insurance, pensions, investments and banking. Part of their job is to try and predict what money will do when it is invested in insurance, pensions, stock markets or other financial services. Actuariesare therefore among the most influential professionals in the financial world. A lot of the actuaries' work can be described as 'risk management', that is, assesment of the probability of events and of the associated costs .
Actuaries have always combined excellent mathematical skills with the ability to think clearly and logically. They also need to be sharp-focused and detail-oriented. Actuaries must be interested in such subjects as probability and risk identification and assessment, and have the ability to understand such complex financial topics as derivatives. Actuaries should also be on easy terms with their professional environment as well as solution-oriented.
examples of actuarial occupations
to design and recommend company pension schemes
to advise on acquisitions, mergers, corporate recovery, and financing capital projects
to advise insurance companies as to their financial reserves to meet claims
to calculate a company's financial status
to design new insurance policies and other financial products and contracts
to calculate and set premium rates to be paid underfinancial arrangements
to price financial derivatives
to be employed in fund management or in quantitative investment research
to assist in matters of investment policy and asset allocation
to assess demographic influences on financial arrangements
to supervise insurance companies and pension funds for the government