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Jobs For " Actuary" Click HereJob Tasks for: "Actuary"Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates. Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums. Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improving existing business. Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, and/or the public. Testify before public agencies on proposed legislation affecting businesses. Provide advice to clients on a contract basis, working as a consultant. 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. Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information. Determine policy contract provisions for each type of insurance. Manage credit and help price corporate security offerings. Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings. Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies. Explain changes in contract provisions to customers.
Knowledge Requirements for: "Actuary"Mathematics -- Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.English Language -- Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar. Economics and Accounting -- Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data. Computers and Electronics -- Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming. Administration and Management -- Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources. Law and Government -- Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process. Sales and Marketing -- Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems. See the education requirements for "Actuary"
Skill Requirements for: "Actuary"Mathematics -- Using mathematics to solve problems.Active Learning -- Understanding the implications of new information for both current and future problem-solving and decision-making. Complex Problem Solving -- Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions. Critical Thinking -- Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems. Active Listening -- Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times. Time Management -- Managing one's own time and the time of others. Reading Comprehension -- Understanding written sentences and paragraphs in work related documents. Judgment and Decision Making -- Considering the relative costs and benefits of potential actions to choose the most appropriate one. Coordination -- Adjusting actions in relation to others' actions. Speaking -- Talking to others to convey information effectively.
Ability Requirements for: "Actuary"Mathematical Reasoning -- The ability to choose the right mathematical methods or formulas to solve a problem.Inductive Reasoning -- The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events). Deductive Reasoning -- The ability to apply general rules to specific problems to produce answers that make sense. Information Ordering -- The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations). Oral Expression -- The ability to communicate information and ideas in speaking so others will understand. Oral Comprehension -- The ability to listen to and understand information and ideas presented through spoken words and sentences. Written Expression -- The ability to communicate information and ideas in writing so others will understand. Written Comprehension -- The ability to read and understand information and ideas presented in writing. Category Flexibility -- The ability to generate or use different sets of rules for combining or grouping things in different ways. Problem Sensitivity -- The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem. Job Activities for: "Actuary"Processing Information -- Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.Getting Information -- Observing, receiving, and otherwise obtaining information from all relevant sources. Analyzing Data or Information -- Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts. Interacting With Computers -- Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information. Identifying Objects, Actions, and Events -- Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events. Making Decisions and Solving Problems -- Analyzing information and evaluating results to choose the best solution and solve problems. Updating and Using Relevant Knowledge -- Keeping up-to-date technically and applying new knowledge to your job. Organizing, Planning, and Prioritizing Work -- Developing specific goals and plans to prioritize, organize, and accomplish your work. Documenting/Recording Information -- Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form. Evaluating Information to Determine Compliance with Standards -- Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
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