What is an actuary?
Actuaries measure and manage the impact of risk, uncertainty and opportunity to prepare businesses, communities and governments for the future.
What is an actuary in Australia?
Actuaries advise on the consequences of decisions.
An actuary is a professional who uses mathematics, statistics, data and financial theory to assess and manage risk and opportunity. Actuaries analyse data to evaluate the financial and societal impact of future events, helping businesses and communities make sound decisions about the future.
What jobs can actuaries have?
Many actuaries use their skills in data analysis, risk management and problem solving by working in new, high-growth fields, such as data science and AI, cyber security, climate change and sustainability, and energy resources. They also work in the traditional areas of financial services, general insurance, life insurance, health insurance, superannuation, wealth management, investments, banking, and enterprise risk management.
Actuaries also hold executive positions in the operational management of financial institutions and are sought after for senior executive roles such as CEO, Head of Risk, Lead Partner, and Chief Actuary. They have roles in consulting firms, delivering services to large organisations and businesses.
What does an actuary do?
Actuaries see and shape the future.
Actuaries use maths and data for good. Across every industry, in public policy and in business, we use data and AI ethically to make good decisions. Actuaries are bound by a rigorous code of standards and a responsibility to act in the public interest.
Actuaries are passionate about creating a world where businesses flourish, society is secure, life is sustainable, and every individual can live fairly. From social benefit payments to modelling climate impacts, we gather the evidence to show what’s equitable and sustainable.
More than maths
“Actuarial studies gives you a really good grounding in a number of different disciplines - risk, finance, statistics, probability - which is really important in a business context.”
Discover the positive impacts actuaries have on business and society.
Why are actuaries important?
Protecting communities with insurance
From insuring for natural disasters to ensuring income after an accident, actuaries create insurance schemes to support resilience.
Securing futures with pensions
Actuaries create financial support for retirees by designing robust pension schemes.
Stabilising economies
Actuaries maintain the robustness of global financial systems by preparing institutions for any challenges.
Maximising impact with data science and AI
Actuaries bring acumen, innovation, ethics and rigour to analyse data. We enhance service models, automation, customer experience, loyalty schemes and digital transformations.
Working for sustainability and ESG
Actuaries predict the impacts of climate change and aid the development of ESG strategies that support sustainable futures.
Championing ethics in business
In a complex world, actuaries apply professional ethics to advance business practices that are not only profitable but beneficial to society.
One profession, a range of possibilities
Career paths for actuaries
Learn more about the role of actuaries in different industries and sectors.
Unique expertise
What skills do actuaries need?
Analysis and logical thinking
Communication and teamwork
Business acumen and commercial mindset
Self-motivation and drive
Financial mathematics and statistics
Risk modelling and management
Why should you become an actuary?
Completing our qualification program as an Actuaries Institute member gives you a unique skillset, allows you to make a difference and unlocks an exciting global career of results, recognition and reward.
