Actuaries – Risk Managers Solving Business Equations
A vacant stare will probably be the reaction when you tell someone that you are an actuary because, for most, this profession is one very rarely heard of or seen.
If you do manage to find a more knowledgeable crowd, the job is more likely to impress given the difficult exams and the fact that actuaries are experts in a complex and highly mathematical field.
The use of statistics and other financial theories are applied to solve real life business problems. These tasks usually entail the analysis of future financial events that involve a great deal of uncertainty over things such as the amount and timing of a future payment. It is this core mathematical understanding along with a strong grasp of economics that really differentiates actuaries from other financial roles.
Actuaries may well end up working in various different industries but the areas in which they are most likely to play the biggest role include investment, insurance, pension and consulting jobs.
Wherever an actuary works they must be able to communicate clearly with non-specialists even when it involves more difficult topics. This allows management to make important decisions based on the most sound analysis possible.
