Browse Financial Services Actuary jobs
No Listings found, please search for an alternate role
- An actuary is a business professional who deals with the financial impact of risk and uncertainty.
- Actuaries have a deep understanding of financial security systems, their reasons for being, their complexity, their mathematics, and the way they work.
- They evaluate the likelihood of events and quantify the contingent outcomes in order to minimize losses, both emotional and financial, associated with uncertain undesirable events. Since many events, such as death, cannot be totally avoided, it is helpful to take measures to minimize their financial impact when they occur. These risks can impact both sides of the balance sheet, and require asset management, liability management, and valuation skills.
- Analytical skills, business knowledge and understanding of human behaviour and the vagaries of information systems are required to design and manage programs that control risk.
- Actuaries' insurance disciplines may be classified as life; health; pensions, annuities, and asset management; social welfare programs; property; casualty; general insurance; and reinsurance.
- Life, health, and pension actuaries deal with mortality risk, morbidity, and consumer choice regarding the ongoing utilization of drugs and medical services risk, and investment risk. Products prominent in their work include life insurance, annuities, pensions, mortgage and credit insurance, short and long term disability, and medical, dental, health savings accounts and long term care insurance.
- Casualty actuaries, also known as non-life or general insurance actuaries, deal with catastrophic, unnatural risks that can occur to people or property. Products prominent in their work include auto insurance, homeowners insurance, commercial property insurance, workers’ compensation, title insurance, malpractice insurance, products liability insurance, directors and officers liability insurance, environmental and marine insurance, terrorism insurance and other types of liability insurance.
- Reinsurance products have to accommodate all of the previously mentioned products, and in addition have to properly reflect the increasing long term risks associated with climate change, cultural litigiousness, acts of war, terrorism and politics.