(Career Asssessments, Exploration & Counselling)
Career: Actuaries
Job Description
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.
Job Tasks
Importance %age |
Task Description |
100
|
Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits. |
100
|
Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public. |
97
|
Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates. |
94
|
Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improving existing business. |
94
|
Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person who is disabled or killed in an accident. |
91
|
Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums. |
88
|
Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information. |
88
|
Testify before public agencies on proposed legislation affecting businesses. |
82
|
Provide advice to clients on a contract basis, working as a consultant. |
82
|
Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies. |
82
|
Determine policy contract provisions for each type of insurance. |
73
|
Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings. |
72
|
Explain changes in contract provisions to customers. |
48
|
Manage credit and help price corporate security offerings. |
Work Activities
Importance %age |
Activity Description |
96
|
Analyzing Data or Information
|
90
|
Processing Information
|
88
|
Making Decisions and Solving Problems
|
82
|
Getting Information
|
81
|
Thinking Creatively
|
81
|
Interpreting the Meaning of Information for Others
|
81
|
Updating and Using Relevant Knowledge
|
76
|
Organizing, Planning, and Prioritizing Work
|
76
|
Evaluating Information to Determine Compliance with Standards
|
76
|
Provide Consultation and Advice to Others
|
74
|
Communicating with Supervisors, Peers, or Subordinates
|
74
|
Interacting With Computers
|
70
|
Communicating with Persons Outside Organization
|
67
|
Developing Objectives and Strategies
|
66
|
Establishing and Maintaining Interpersonal Relationships
|
66
|
Identifying Objects, Actions, and Events
|
65
|
Coaching and Developing Others
|
65
|
Resolving Conflicts and Negotiating with Others
|
64
|
Estimating the Quantifiable Characteristics of Products, Events, or Information
|
63
|
Guiding, Directing, and Motivating Subordinates
|
62
|
Staffing Organizational Units
|
62
|
Scheduling Work and Activities
|
59
|
Coordinating the Work and Activities of Others
|
58
|
Monitoring and Controlling Resources
|
58
|
Documenting/Recording Information
|
57
|
Judging the Qualities of Things, Services, or People
|
56
|
Training and Teaching Others
|
55
|
Developing and Building Teams
|
52
|
Monitor Processes, Materials, or Surroundings
|
51
|
Selling or Influencing Others
|
42
|
Performing Administrative Activities
|
31
|
Performing for or Working Directly with the Public
|
16
|
Assisting and Caring for Others
|
12
|
Inspecting Equipment, Structures, or Material
|
5
|
Repairing and Maintaining Electronic Equipment
|
3
|
Drafting, Laying Out, and Specifying Technical Devices, Parts, and Equipment
|
3
|
Handling and Moving Objects
|
3
|
Controlling Machines and Processes
|
2
|
Performing General Physical Activities
|
1
|
Repairing and Maintaining Mechanical Equipment
|
1
|
Operating Vehicles, Mechanized Devices, or Equipment
|