Actuary

An actuary is a professional who applies mathematical, statistical, and financial theories to assess risk in the insurance and finance industries. They are highly skilled in evaluating the likelihood of future events, designing creative ways to reduce the likelihood of undesirable events, and decreasing the impact of undesirable events that do occur. Actuaries use models for analyzing data and determining the probability and financial consequences of risks related to a variety of contingencies, from natural disasters to changes in mortality rates. Their expertise plays a critical role in the pricing of insurance policies, pension plans, and other financial strategies in a way that ensures that funds will be available to pay for the insurance claims and benefits when they come due. Actuaries also contribute to the evaluation of the financial implications of new regulations, implementing risk management tools, and advising on the financial stability of insurance companies. Their work requires a deep understanding of both business and the underlying social and economic environments that can affect the financial security systems.