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Actuarial science involves assessing financial risk and requires mathematical ability, experts say.
Someone intrigued by the prospect of assessing and managing risk may
enjoy a career as an actuary, a business professional whose job involves
consistently and accurately predicting the likelihood of misfortune in
the midst of uncertainty and its potential financial cost.
Actuaries help to ensure that there are sufficient financial safety nets to guard against financial calamities.
Photo: Getty Images
"Actuarial science is about using math to assess what will happen next," Amy Timmons – a Phoenix-based vice president, senior consultant and actuary with Segal, a consulting firm with U.S. and Canadian offices – explained in an email.
What an Actuary Is
Actuaries say they play an important role in society by helping to ensure that there are sufficient financial safety nets to guard against financial calamities...
This in-demand and lucrative profession demands an aptitude for math and statistics. It requires making sense of data and discerning patterns in numbers, so individuals who work in this field need to have strong quantitative skills, an eye for detail and a meticulous approach, actuaries emphasize.
"You need a love of mathematics and numbers – that is core to being an actuary," Timmons says. "Everything else is negotiable. There are actuarial positions for introverts, extroverts, people who like to talk and work with people, people who like to travel, people who want to stay home, people who only want to work with numbers, etc."
Source: U.S. News & World Report
