Actuaries work in insurance, finance, auditing, and government agencies. They assess risks, make market projections, and use mathematical evaluation to help people make decisions. Internships can help students explore different job opportunities in the field. Job listings can be found through professional organizations and trade publications.
Actuarial positions range from conventional jobs in the insurance industry to opportunities with finance companies. Students who are on their way to becoming an actuary may want to consider internships to explore different job opportunities in this field if they are unsure about the types of positions they would be most interested in. weighted opinions backed by mathematical evaluation to help people make decisions.
In the insurance industry, actuaries assess risks for home, car, life, health and other types of insurance. They can help their employers set policy limits, determine when to offer coverage, and make other decisions that will be in the insurance company’s best interest. The insurance company wants as many customers as possible to spread risk, but it also doesn’t want to take on significant insurance risk without substantial premiums and deductibles to back it up.
The financial sector also has use for actuaries. Banks, brokerage houses, investment firms and similar institutions may have actuarial positions available in their analytical department. Actuaries can assess risks, make market projections and formulate procedural recommendations. They may also be called upon to perform a cost-benefit analysis of a proposed activity or purchase to determine whether it would be a good decision for the company.
Other actuarial positions are available in the field of auditing. Auditing firms can use actuaries to assess risks associated with auditing, such as the likelihood that a firm is falsifying information. The analytical skills needed for a career as an actuary can also be useful for data mining, finding discrepancies and other extraneous data that might suggest a problem. Auditors can use this information to identify accounting issues and highlight them for the benefit of the party requesting the audit.
Government agencies also have actuarial positions available. These agencies use risk assessment to make public policy decisions and also use actuaries for financial purposes. Actuaries can work with tax agencies to develop productive auditing and monitoring policies, or with public health agencies to help them make decisions about what kind of care to provide to the community. For some government jobs, an additional or advanced degree may be required.
People interested in actuarial positions can find job listings through professional organizations and trade publications. These listings can give you an idea of the type of work available, along with the pay and benefits offered. More experienced actuaries tend to have better job prospects.
Protect your devices with Threat Protection by NordVPN
