Working in industries such as life assurance and pensions (and any area where risk assessment and long-term financial projections are involved), Actuaries apply financial and statistical theories to assess the likelihood of a particular event occurring and the possible financial costs.

Typical work activities include:

  • Analyse past events in order to calculate, for example, accident rates for particular groups of people.
  • Use mathematical modelling techniques and statistical concepts to determine probability and risk. Present reports and advice on risk limitation.
  • Provide advice on the administration of pensions and life assurance schemes.
  • Work with IT professionals to develop systems to ensure compliance with the requirements of regulatory bodies.

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