Richa Chahal

What are the necessary skills required as a fresher to get a decent job as a actuary?

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by Richa Chahal
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RE: What are the necessary skills required as a fresher to get a decent job as a actuary?

Preeti Taneja
Preeti Taneja
Verified Career Expert
Head Guidance & Counselling at Confidential
  • Chandigarh

Actuaries are the backbone of insurance industry. They apply statistical, mathematical and economic analysis to a wide range of prcatical problems in insurance, investment, financial planning and management. They assist in taking financial decision by doing thorough analysis of the past , modelling the future , assessing the risks involved and communicating what the result mean in financial terms. Actuaries are responsible for assessing the financial impact of tomorrow's uncertain events. Actuaries are often involved in making decisions concerned with the financial soundness of insurance companies and pension funds. The work mof an actuary involves the calculation of insurance risks, premium and pension programmes. The profile of actuary involves policy designing & pricing and asset liability management. To excel in this profession on should have excellent numerical ability , an interest in statistics and probaility theory, understanding and indepth knowledge of socio economic trends as well as legislative provisions in this regard.One should have both excellent written as well verbal communication skills. A person should possess good problem solving and decision making skills. Familiarity with the economics, finance, accounts and business environment will be an addede advantage.

RE: What are the necessary skills required as a fresher to get a decent job as a actuary?

Deepak Rana
Deepak Rana
Verified Career Expert
Author: Sky Beyond the Clouds
  • Kangra

Below is the list of the important personal and professional skills that one needs to have as an actuary so that he or she can get the job:

1. The actuaries need to be very good in their mathematical and analytical skills. They need to do a number of calculations and the analysis in order to do the financial accounting. They often do these calculations on the computers and the calculators and therefore need to be good at using these tools.

2. The actuaries usually work as part of the large teams and therefore they should be able work with them. They should be good team players so that they can provide valuable contribution in the team settings and coordinate with the fellow professionals. Thus they need to work on their interpersonal skills.

3. The actuaries need to have the sound understanding of the financial sector and should be equipped with all the latest happenings in the world of finance. They have to make sure that they understand all the basic and advanced concepts of finance and economics so that they can leverage that knowledge in their work.

4. As an actuary you really need to work on your communication skills. These are important since you will have to communicate with the clients and other professionals of your company on the regular basis. The communications have to be impressive and correct so that you can convince the other person about a particular thing.

5. As an actuary you will have to get involved in a number of asset and liability management projects, mergers and acquistions and policy making. Therefore you need to learn about these processes well so that you can provide the great value as an actuary.

Therefore if you can work on thse skills then you will be in a much better position to get the job of an actuary. These skills can be developed over the period of time and therefore one has to be patient enough so that you can build the expertise in it.

RE: What are the necessary skills required as a fresher to get a decent job as a actuary?

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