Actuary
What the work is
Analyses mathematical, statistical, demographic, financial or economic data to predict and assess long-term risks and potential impacts of future events.
Would you enjoy the work?
These are the main tasks in the official description. Mark how each one sounds to you.
- Applies and examines complex models to forecast future events that may have financial, social or environmental impacts
- Analyses data to identify opportunities to improve outcomes for companies, government, society and other organisations
- Formulates and proposes strategies to mitigate risks and uncertainties
- Designs policies, assesses risk and analyses investments primarily in life insurance, superannuation, health insurance, friendly societies and financial markets
- Ensures compliance with applicable laws, regulations and an ethical code of conduct
Try it
A simulation and a case study from this kind of work, set in the analytics team of a fictional general insurance company. They are fictional.
The kind of days you could have
Good days
- A model you built predicts what actually happens, and the team trusts it more
- A tangled problem finally becomes a clear picture you can draw on a whiteboard
- You explain risk to a non specialist and see them understand it
Hard days
- Data that does not add up and a deadline that does not move
- A senior person asks for one certain number when the honest answer is a range
- Weeks of checking work that nobody will notice unless it goes wrong
Written by Career Calling as a general guide. Real roles vary by employer and place.
Work a mission
Step into a simulated workplace in this field, with a brief from your manager.
Description and tasks: Australian Bureau of Statistics, Occupation Standard Classification for Australia, 2024, Version 1.0 (opens another site), occupation 223131, used under a Creative Commons Attribution 4.0 licence. The skill guide above is our plain English summary.