Actuaries analyse past and present data to solve real business problems. A lot of an actuary’s work is about risk management; assessing how likely an event may be and the costs associated with it. Actuaries predict and measure emerging risks and then help to reduce them, putting financial safeguards in place. Every area of business, especially in the finance industry, is subject to risks so an actuarial career offers diverse employment options, including banking, insurance, pensions, investment and many more!

They have a deep understanding of how businesses operate. Actuaries keep up to date with legislative changes, long-term demographic trends and have a high degree of commercial and economic awareness.

Depending on where their career takes them, an actuary could be involved in determining the cost of insurance premiums, advising a company on their pension plans or managing financial assets and liabilities.

‘Being an actuary is the best job you probably haven’t heard of’

Philip Arthur, XPS Pensions Group.

In today’s finance industry, Actuaries come from a variety of academic backgrounds but share an appreciation of maths – even if they haven’t completed a maths degree. The actuarial profession demands a high level of academic attainment, regardless of whether you are a graduate or a school leaver. You can find out what entry requirements are needed to become an actuary here.

If you’re a whizz with numbers, an innovative thinker and a skillful problem solver, a career as an actuary could be the perfect fit for you. When training as an actuary, you’ll learn how to analyse data, evaluate financial risks and communicate this information to non-specialists. An actuary has excellent communication skills and will offer expert advice on difficult topics to non-specialists on a regular basis. Find out more about what skills are needed to become an actuary here.

About the Author

  • Name: IFoA

The IFoA is the UK’s only chartered professional body dedicated to educating, developing and regulating actuaries based in the UK and internationally.

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