What skills does an Actuary need?

A Actuary requires 4 core competencies including Problem Solving, Sense Making, Decision Making.

Will AI replace Actuary jobs?

The AI disruption score for Actuary is 62/100. This role faces significant AI disruption risk. Workers should focus on developing skills AI cannot easily replicate.

Financial ServicesInsurance

Actuary

The Actuary uses mathematical and statistical methods to assess risk and uncertainty in insurance and finance. This role develops pricing models, reserves calculations, and risk management strategies.

What Does a Actuary Do?

Deliver accurate actuarial valuations, develop competitive pricing models, and provide reliable risk assessments to support strategic decision-making.

Key Responsibilities & Tasks

Actuarial Modelling

Develop and maintain actuarial pricing models
Calculate insurance reserves and provisions
Perform experience studies and update assumptions

Risk Analysis

Assess and quantify financial risks using statistical methods
Prepare actuarial reports for regulators and management

Do You Have the Skills for This Role?

A Actuary needs 4 core competencies. Here's what's required and at what level.

Must-Have Skills (Advanced)

Problem Solving

Advanced

Thinking Critically

Sense Making

Advanced

Thinking Critically

Supporting Skills

Decision Making

Intermediate

Thinking Critically

Digital Fluency

Intermediate

Staying Relevant

SkillsFuture Skill Levels

3 levels

Basic

Recognise and understand fundamental concepts. Apply skills in routine situations with guidance.

Intermediate

Apply skills in varied situations independently. Analyse problems and adapt approaches as needed.

Advanced

Lead and innovate in complex situations. Evaluate strategies, guide teams, and drive improvements.

European Skills Framework

ESCO

Skills and knowledge areas required for this occupation based on European classification.

Essential

quantitative analysis statistics actuarial science empirical analysis produce statistical financial records perform risk analysis analyse market financial trends apply statistical analysis techniques create a financial plan synthesise financial information provide support in financial calculation obtain financial information advise on financial matters

Optional

insurance law banking activities Monte Carlo simulation types of pensions principles of insurance modern portfolio theory business loans credit control processes insurance market types of insurance advise on risk management develop investment portfolio provide cost benefit analysis reports review investment portfolios examine credit ratings consult credit score analyse insurance risk

Career Paths from Actuary

Explore related roles in Financial Services that share similar skill requirements.

Financial Analyst Risk Manager Underwriter Claims Specialist Blockchain Developer

Will AI Threaten Your Job?

Low riskHigh RiskHigh risk

Most at risk

produce statistical financial recordsprovide cost benefit analysis reportssynthesise financial information

Most resilient

quantitative analysisinsurance markettypes of insurance

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Quick Facts

SectorFinancial Services

TrackInsurance

Core Skills4

Key Tasks5

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