Actuaries

Job description

These individuals specialize in analyzing, modelling, and managing the financial consequences of uncertain events. They use concepts related to mathematics, statistics, probabilities, and risk. They are self-employed or work for:

Banks and trust companies
Insurance companies
Universities
Science, engineering, and pension consulting firms
Actuarial firms
The federal and provincial governments
Financial institutions

Environment

Controlled ambient temperature

Main tasks

Analyze financial markets, economic developments, and the social situation of clients.
Design, develop, and evaluate insurance products using mathematical and statistical techniques.
Calculate premiums, contributions, and benefits associated with insurance policies, plans, and retirement pensions according to the needs of customers.
Evaluate the impact of these costs on the financial situation of clients and companies.
Calculate the risk of economic failure for a business or insurance company.

Advancement and mobility

Experience leads to management positions in finance, insurance, and consulting.

Training and requirements

Formation

University studies

Also required

Recognition by the Canadian Institute of Actuaries.

Main skills and characteristics

Skills

Mathematics
Information processing
Data collection
Critical thought
Solving complex problems

Active learning
Reading comprehension
Judgment and decision-making
Science
Oral expression
Result evaluation
Written expression
Learning strategies
Persuasion
Active listening

More Less skills

Abilities

Mathematical reasoning
Basic numeracy
Deductive reasoning
Inductive reasoning
Awareness of issues

Information organization
Near vision
Written comprehension
Written expression
Oral comprehension
Classification
Selective attention
Information processing speed
Perception speed
Originality
Verbal skills
Speech clarity

More Less abilities

Knowledge and attributes

Critical thinking
Focussed on results
Perseverance
Knowledge of administration and management
Autonomy
Knowledge of economics and accounting
Strategic sense
Knowledge of mathematics
Rigour
Desire to upgrade one’s competencies

Interests

Draft, communicate, and inform
Work with numbers
Work in an office
Carry out research
Self-employment
Collect, verify, sort, and classify data or information

Personality profiles (RIASEC)

Investigative: People with this profile prefer relying on theoretical knowledge before acting. They like observation, analysis and problem solving.
Enterprising: People with this profile prefer having responsibilities, influencing others and responding to challenges.
Conventional: People with this profile prefer specific, well-defined tasks. They like to respect the order of things and follow established rules.

Additional information

Appellation d’emploi liée (à traduire)

Mathematicians, statisticians and actuaries (CNP 21210)

Skill type

Natural and applied sciences and related occupations