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What is an actuary and what is the daily routine of an actuary?

I was curious about this occupation. #finance #economics #actuarial-science #actuarial #actuary

finance economics actuary actuarial-science actuarial
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Qiang (John)’s Answer

Basically related to insurance products and within insurance industry. Some are more transitional: product pricing, reserving( how much to save for future claim). The goal is to make sure have the right product and right price and hold enough money to pay claims. Some are more broad: financial reporting, asset liability management, investment, hedging, modeling, risk management. Usually they are working on spreadsheet, VBA, database or some customized software. Some of work is more like routine work that said nothing new from year to year. Some kind of interesting if you are more quantitative and problem solving driven. Hope this helps.
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Kelly’s Answer

An actuary helps determine risk levels by using statistical and data analysis.

Actuaries are talented professionals, with personal characteristics such as:

Self-motivation
Creativity
Independence
Ability to work with others
Ambition

The skills developed and honed by successful actuaries include an excellent business sense with knowledge of finance, accounting, and economics; keen analytical, project management, and problem solving skills; specialized math knowledge; strong computer skills; and solid written and oral communication skills.

In addition, actuaries enjoy learning, like to solve complicated problems, enjoy writing and talking to people, can work effectively alone or as part of a team, are interested in a variety of historical, social, legislative, and political issues, and are self-motivated achievers.
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Maria’s Answer

Hi Amy! An actuary deals with statistics and analyzing data. Here is a website with more information: http://www.beanactuary.org/what/. Hope this helps!
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Ken’s Answer

Hi Amy!


Here is some general explanation about the career area:
https://www.youtube.com/watch?v=7Kb0eXeCBuU


Here are two examples of the day of an actuary. Hope this helps:
https://www.youtube.com/watch?v=WNpR-7iqPp8watch
http://www.shmoop.com/careers/actuary/typical-day.html


Here is an explanation as to why one might want to be an actuary:
https://www.youtube.com/watch?v=UA_v-D24NsY


Please let me know if and how this helps! I would like to follow your progress!
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