Imagine a person whose influence and decisions can affect thousands of people. A person with the rare ability to undertake several roles at the same time – problem solver, business analyst, consultant and financial risk assessor. This is an actuary; someone who has a thorough grounding in economics, statistics and the mathematics of finance and who uses these skills to solve business problems.

Actuaries analyse data to interpret the past, create models to forecast the future, assess risks, estimate outcomes and communicate facts, ideas and recommendations in a way that can be understood by actuaries and non-actuaries alike. They work in many areas that directly benefit the public, including life and non-life insurance, pension funds, savings, capital projects, investment, healthcare and risk management. Such work offers management opportunities, often at boardroom level, with actuaries having a commercial as well as technical role.

Although qualifying as an actuary is a demanding process, the rewards are considerable. An actuarial career offers a challenging, well-respected and wellpaid future. The qualification is an excellent basis for a business career that is widely recognised throughout the financial world. The variety and choice of rewarding opportunities available mean that it’s a stable profession, with very few actuaries unemployed or feeling the need to leave the actuarial world. Also, agreements with other societies greatly facilitate the ability of actuaries to move and work in other parts of the world and create a truly global profession.

Your development

To qualify as an actuary you’ll need to complete professional exams and appropriate work experience. Actuarial trainees take the exams at their own pace, usually while working for an actuarial employer (probably an insurance company, consultancy or financial organisation). Study is normally undertaken by correspondence courses run by specialist providers and supplemented by tutorials. Employers typically provide support with mentoring, coaching, study leave and meeting the costs of learning materials. Qualification typically takes three to six years.

Our requirements

Most new entrants into the profession are recent graduates, who have joined a company as an actuarial trainee. The minimum entrance requirement is a grade B at A-level or equivalent in maths (grade C for holders of a second-class honours degree or above). Any degree is acceptable.

Fast Facts

Members
16,000

Occupation areas
Insurance, pensions and benefits, investment and asset management, banking, healthcare.

Qualifications available
Diploma in Actuarial Techniques, Certificate in Finance and Investment, Associate Actuary, Fellow.

Degree disciplines required
Ideally a numerate degree - statistics, maths, engineering, science and economics.

Salary
Graduate entry salaries £20,000 and £26,000, newly qualified actuaries £48,000 - £50,000 and senior actuaries £100,000.

Application procedure
Application form and requirements can be found at www.actuaries.org.uk

Apply now

Napier House 4 Worcester Street Oxford OX1 2AW
T 01865 268228 F 01865 268222 E careers@actuaries.org.uk