What is an actuary?

What is an actuary?

Actuaries are experts in risk management. They use their mathematical skills to help measure the probability and risk of future events. This information is useful to many industries, including healthcare, pensions, insurance, banking and investments, where a single decision can have a major financial impact.

Actuaries in the UK belong to the Institute and Faculty of Actuaries. It is a global profession with internationally-recognised qualifications. It is also very highly regarded, in the way that medicine and law are, and an actuarial career can be one of the most diverse, exciting and rewarding in the world. In fact, due to the difficult exams and the expertise required, being an actuary carries quite a reputation.

What skills do actuaries have?

People who work as actuaries come from all sorts of backgrounds, though clearly they share a love of maths. Actuaries are problem solvers and strategic thinkers with a deep understanding of financial systems. On the way to achieving a qualification, you'll develop these and other key skills - analysing data, evaluating financial risks, communicating clearly - through exams and work-based training.

Who should become an actuary?

• A graduate typically with a 2:1 in a numerate subject (others may be suitable)
• Loves logic and problem solving
• Good communicator
• Excellent business acumen

Find out more about what actuaries do or why you should become an actuary.