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Actuary » Overview

If you cross a fortune teller with an accountant, what do you get? An actuary! It’s not a riddle or a rhyme, but an exciting job in the world of finance where, based on research and past events, you discover what the future may hold.

Accountants work with what is and what was, where as Actuaries go one step further to predict and assess the financial risks and impacts of future events.

Actuaries work in areas such as insurance, superannuation, investment, some Government departments, and any other field where future financial risks need to be evaluated and managed.

On a daily basis an actuary makes extensive use of database and spreadsheet programs. While they may work alone at times, sometimes there are team based situations and actuaries have a wide range of contact with other professionals including accountants, lawyers, business people, trustees and boards of directors.

Most actuary work is carried out in an office environment, but the hours are often flexible as from time to time they have to produce results and reports to tight deadlines, so long hours will be required.

What is particularly exciting about this role is having to use a variety of sources to come up with solutions and accurate predictions. Actuaries are multi-skilled strategic thinkers who can assess risks to a business by modelling the future, using a blend of history, expectations and judgement.

Some days it might feel like you are in a courtroom – presenting fundamental ideas and arguments to people outside of the profession. Another day could be like detective work where you have to analyse complex situations and information, first to find out exactly what a problem is and then determine a range of possible solutions by interpreting results and drawing conclusions.  

Medium_ben_coulter Ben Coulter

I joined Sovereign because: I read the book “Reality is Crazy” and learnt about where Sovereign had come from and what a great... read more »