As defined by Charles Young, a Consulting Actuary at Hymans Robertson: ‘Actuaries analyse past and present data to solve real business problems. A lot of actuaries’ work is about risk management: assessing how likely an event may be and the costs associated with it. Actuaries predict and measure emerging risks and then help to reduce them, putting financial safeguards in place.’
Areas of work
There are many areas in which you can work as an actuary including: consultancy, investment, insurance and pensions. If you are unsure which is best suited to you, check out our Areas of Work articles which explore the traditional and emerging areas in which actuaries operate. In your application, you may need to show employers what attracted you to work in that particular business area, so it is worth doing your research!
Skills needed to become an actuary