Actuaries
- Finance
Tasks
What tasks do Actuaries perform?
Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
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.
Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
Knowledge
What do Actuaries need to know?
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Skills
What skills do Actuaries need?
Mathematics
Using mathematics to solve problems.
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
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Data on career profiles are based on information supplied by the O*NET Program, sponsored by U.S. Department of Labor, Employment, and Training Administration.