Actuaries

Question 1

What are actuaries?

Answer 1

Acknowledged experts in the analysis and modelling of situations involving financial risk and contingent events

Directly concerned with asset and liability management and assosciated risks

Professionals who are respected, trusted and admired, and who are independant in outlook

Highly practical, innovative, versatile and numerate

Able to provide realistic solutions to complex problems and with a long-term, forward-looking outlook on issues

Good communicators who can explain actuarial methodology and conclusions to others and contribute technically and managerially to multidisciplinary teams

Question 2

Where can actuaries add value?

Answer 2

Life Insurance
Pensions
Investments
General Insurance
Healthcare Financing

Demography
Government initiatives
Environmental impact evaluations
Compensation calculations
Corporate Financing
Personal financial planning

Question 3

What are the values of the profession?

Answer 3

Expertise
Integrity
Professionalism
Serving the public interest
Adding value

Question 4

How does the profession serve the public interest?

Answer 4

It provides skilled, trustworthy actuaries to meet both business and society’s needs

Meet requirements for current and future statutory prudential roles in the financial management of all major financial institutions

Its members are willing to accept roles which ensure financial protection for consumers

It provides authoritative and objective input to public debate

Question 5

What factors are changing the actuarial education?

Answer 5

Globalisation of the actuarial career
Changing world
Mistrust