The Actuary will routinely use critical thinking, problem solving and strong analytical skills to aid in or drive decision making. This analysis is often related to the analyses of statistical data with the intention to create probability tables that are used to assess risk and liability for future benefits. Strong communication skills and the ability to explain highly technical information to a broad range of audience members are highly desired skills among actuaries.
May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits.