Actuaries: Future-Tellers to Evaluate Everyday Risks
Actuaries are highly demanded professionals, who calculate, evaluate and decrease financial risks. They possess exceptional problem-solving skills, they are absolutely in love with math and statistics. Actuaries are excellent analysts: they explore human behavior and contribute to economic well-being.
Actuaries are valuable assets in banks and financial sector, insurance and investment agencies. In other words, they manage risks that we take in everyday life and business. Their task is to solve real problems:
- develop insurance products and calculate charges,
- analyze company’s solvency,
- assess investment risks,
- set retirement policies
- manage financial risks,
- apply analytical techniques in environmental finance etc.
Insurance companies, banks, investment funds and governments can’t survive without actuaries and this makes them highly demanded and paid labor force.
Being an actuary requires becoming a member of professional societies, and then passing a set of examinations. To be employed as an actuary, it is sufficient to pass only 2-3 exams. But to progress further and excel, you will need to obtain membership of the professional society, pass all the other exams and get a license to practice. Two main centers, where prospective actuaries get their exams are based in UK and US.
There is no doubt that employers will be looking for actuaries with academic degrees. The variety of colleges and Universities, offering degree programs in actuarial science, provide excellent choice for prospective international students.
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