Actuary, Mathematician and Statistician

Overview

Actuaries, Mathematicians and Statisticians develop and apply actuarial, mathematical, statistical and quantitative principles and techniques to solve problems in a range of fields such as business and finance, scientific and social research, and engineering.

Day-to-day

• defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
• examining financial projections for general insurance companies, finance companies, government and other organisations
• designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas
• formulating mathematical models to simulate processes
• applying models to experimental observations, and adjusting and recasting the models
• using numerical analysis methods to develop algorithms and perform computations
• liaising with management and clients to determine the subject or area to be surveyed or examined
• specifying the data to be collected, and the methodology to be used in collection and analysis
• evaluating and describing the reliability and utility of source information
• analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns.