What does an Actuary do?

Actuaries evaluate risk and opportunity – applying mathematical, statistical, economic and financial analyses to a wide range of business problems.

Insurance, superannuation, wealth management, investments, health financing and banking, are the more readily recognised fields in which actuaries work, but they also work in new, high-growth fields, such as data analytics, energy resources and the environment. Many actuaries also hold executive positions in the operational management of financial institutions. 

However your actuarial career may look, skills in data analysis and management, risk management and data-based decision making are vital in many industries.

The chart below shows what practice areas our members were part of in 2015.

ACCORDING TO A RECENT INSTITUTE SURVEY, 40% OF ACTUARIES EXPECT THEIR FUTURE CAREER TO ENCOMPASS 'NON-TRADITIONAL' ROLES.
Members by Practice Area