Actuaries Job Description video

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If you work and pay taxes, carry insurance on your home or car, belong to an HMO, or are putting money away for your retirement, you depend on the work of actuaries. Actuaries make up a rare breed of problem solver for the business world -- so unique there are only 19 thousand of them at work in North America. But they are in demand in the insurance and financial securities industries because of their ability to put a price tag on probabilities. They improve financial decision-making by using mathematical models to project future risks. Actuaries enter the field with specialized math knowledge in statistics, calculus and probability… and sharp analytical, problem solving and project management skills. They are well versed in finance, accounting and economics. And they're computer experts. But beyond being a whiz with numbers -- actuaries need to be able to translate their conclusions into plain language for clients and co-workers. On-the-job training for actuaries can last more than a decade, as they pass a series of 8 required exams to become fully accredited. The Society of Actuaries recommends at least 400 hours of study for each exam! Opportunities for actuarial work are diversifying. Multinational firms and government offices increasingly call on actuaries to help evaluate the financial implications of uncertain future events. With this valuable expertise, salaries for accredited actuaries can top six figures.

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