An actuary’s responsibilities include managing and evaluating financial risks. A sound knowledge of economics and business as well as being able to analyse statistics and understand probability allows them to work out financial and commercial strategies for businesses such as insurance companies and investment banks
The job comes with a high level of accountability and those who are good at their jobs can expect to be well rewarded financially. Employers will expect exceptional numeracy skills and a degree in a subject like maths, physics, economics or statistics. Training can take up to six years and although there are university courses available, many graduates put themselves through distance learning for which an actuarial company may well supply the necessary financial support and time-off
As well as the relevant university qualifications, a person working in this position will be expected to prove they have a good grasp of financial services legislation and economics, that they are analytical, responsible and can pay attention to detail
An incumbent can expect to earn around £40,000 to begin with, rising much higher with experience.