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Are you searching for Actuarial job? Actuary is a business professional who takes care of risk and uncertainty in corporates. Many Organizations are awaiting for Actuarial job candidates for several roles for risk measurement and management. Job opportunities are present everywhere for this position. Actuarial job description might include operations like evaluating the risk involved in the corporate using mathematical and statistical models. Candidates are required to have knowledge on mathematics, finance, analytical skills, business knowledge and to determine, assess and prepare the financial impact due to risk followed. Wisdomjobs created interview questions exclusively for the candidates who are in search of job. Do check our page for Actuarial interview questions and answers to get set for the interview.
Actuarial analyst’s works in the insurance industry and use statistical model to analyze the data and calculate the costs associated with certain events such as
Skills required to become actuarial is
Flexibility in working hours: Actuary can have flexible working hours and can balance his professional commitments
High Salaries: From beginning onwards, salary package are excellent, and in high paying jobs it is considered as one of them
International Opportunities: There is no limitation to one country, it is applicable all over the world
Central Role: Many companies and government institute are highly dependent on the research and result of the actuary. On the basis of their calculation, they take a decision whether to implement the new ideas or not
Wide Scope: The area or field for actuary is wide, you can work in a specialist area like insurance, pensions, benefits, healthcare, investments and banking, etc.
The main role of actuary analysts is to save companies money and time, by identifying the possible risk in investment. Apart from that they have to
Chief actuaries act as an actuary head or supervisor for the government organization as well as corporate. They keep an eye on other actuaries and distribute and direct assignments. Also, they prepare reports and reviews of business functions like budgets and mergers. Further, they implement policies and guidelines relating to actuary risk analysis.
An actuarial report includes the future and current conditions of the fund, like in case of pension or insurance policy, it helps to decide whether it meets the need of people depending on it. For government organization, this actuarial report is available on public request, while, for privately managed fund, it might not be accessible to the public.
Some of the common actuarial software used in industry are:
Casualty Actuarial Society is a professional association of non-life actuaries, of risk management professionals who work in industries other than life insurance. The motive of this society is to give knowledge to members and the general public about actuarial analysis of property and liability risk
To become a successful actuary, you must have a good hold on:
Actuarial life tables are statistical charts that provide detail about life expectancy in a given population.
Lognormal distribution is a probability distribution that is used as a model to claim size distribution; it is positively skewed and has a range from zero to infinity.
The job of pension’s actuary is to help pension’s providers to set the pension rates and craft retirement policies that minimize risk. They apply their skills to the creation and maintenance of sustainable retirement plans. Majority of the pension actuaries work in a pensions actuarial firms while others work in government bodies.
Actuarial assistant is a helping hand to actuary; it plays a valuable support role to the actuary, assisting with the calculation of premium rates, policy liabilities and developing new products.
As a property or casualty actuary, responsibilities includes:
The role of the actuary in consulting firm varies, it may include
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