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Jobholders in this unit group apply theoretical principles and practical techniques to assess risk and formulate probabilistic outcomes in order to inform economic and business policy, and to analyse and interpret data used to assist in the formulation of financial, business and economic policies in order to maximise growth or improve business performance.

Tasks

  • Assesses the objectives and requirements of the organisation seeking advice
  • Uses a variety of techniques and theoretical principles to establish probability and risk in respect of e.g. life insurance or pensions
  • Uses appropriate techniques and theoretical principles to determine an appropriate method of data collection and research methodology, analyse and interpret information gained and formulate recommendations on issues such as future trends, improved efficiency
  • Designs and manages surveys and uses statistical techniques in order to analyse and interpret the quantitative data collected
  • Provides economic or statistical advice to governments, commercial enterprises, organisations and other clients in light of research findings
  • Addresses seminars, conferences and the media to present results of research activity or to express professional views.

Entry Requirements

Entry is most common with a relevant degree or equivalent qualification. Professional qualifications are available and mandatory for actuarial occupations.

What could I earn?

Salaries for this occupation tend to start at £41,000 per annum and can progress up to £62,000 per annum.

Is it in growth or decline?

There are currently 3,136 employed Actuaries, Economists & Statisticians in the region.