Urgent need for English introduction on actuarial science, English! What is actuarial science and where will it be used?

Actuaries' work is based on the application of mathematics, statistics, economy and financial analysis to a series of practical problems in long-term financial planning and management. They also participate in the management and control of financial institutions.

What does an actuary do?

Actuaries assess risks and opportunities. They apply mathematics, statistics, economic and financial analysis to a wide range of practical business problems. Many actuaries also participate in the management of financial institutions. Insurance, pension, stock brokerage, investment, banking and government are more easily recognized areas for using actuarial services. However, actuaries are also working in new high-growth areas, such as environment, climate change and genetics. In these areas, actuaries can:

Design insurance policies, pensions and other financial contracts;

Calculate the premiums or contributions paid by members/participants in financial arrangements;

To make suggestions to insurance companies on the level of financial reserves held to meet claims;

Advise insurance companies on the prudent distribution of profits;

Assist in investment policy and asset allocation;

Assess the impact of demographics on financial arrangements;

Act as a personal consultant to manage pension and other employee benefit plans;

Advising industry and commerce on a wide range of financial and statistical issues, such as compensation; and

Design, manage or supervise the government's financial policies in the fields of social welfare, pensions and pension plans.

In carrying out this work, actuaries made use of the resources provided by other legal, accounting, medical and economic professionals. They refer to the information provided in periodicals, mathematical tables, statistics and other records, and use complex computer programs to process relevant data.

Actuaries always have good mathematical skills and clear logical thinking ability. They also need to be very focused and detail-oriented. They must be interested in probability, risk identification and evaluation, and have the ability to understand complex financial topics such as derivatives.

Actuaries must also be solution-oriented and eager to solve complex and difficult problems. Because actuaries usually hold senior positions of authority and responsibility, they need to be able to communicate effectively at all levels.

Becoming an actuary is a highly specialized career path, and it takes several years of study to qualify as an actuary. The return is worth the effort, usually providing above-average income and the opportunity to work anywhere in the world.

Popular career paths include:

Banking and finance

Energy and environment

General and health insurance

investment

life insurance

manage

State-run part

Tax office

risk management

pension

wealth management

Non-traditional fields, such as information technology, e-commerce, climate change.