Actuary Jobs
Browse the latest Actuary jobs to help further your career.
Latest roles
Pricing Actuary - Lloyd's Market
- Type
- Permanent
- Salary
- £100000 - £130000 per annum + Bonus & Benefits
- Location
A great opportunity for a qualified (or nearly qualified) pricing actuary to join this small, innovative pricing team at a Lloyd's...
Actuarial Consultant - DB Pensions
- Type
- Permanent
- Salary
- £50000 - £90000 per annum
- Location
We are working with a prestigious consultancy who are going through a significant period of growth. They are seeking to recruit a DB...
Actuarial Lead - GMP Equalisation
- Type
- Permanent
- Salary
- £50000 - £85000 per annum
- Location
Actuarial Lead - GMP Equalisation We are working with a global and highly successful Consultancy who are seeking to recruit am Actuarial...
FAQ's
What does an actuary do?
An actuary assesses financial risks using mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and pension programs. They create and evaluate policies and strategies that minimize risk and maximize profitability.
What qualifications do you need to become an actuary?
A strong background in mathematics, statistics, and business is required along with a degree in actuarial science, mathematics, statistics, or a related field is essential. Additionally, passing a series of professional exams administered by actuarial societies, such as the Institute and Faculty of Actuaries (IFoA). These exams can take several years to complete.
How long does it take to become a fully qualified actuary?
Becoming fully qualified in the UK can take anywhere from 3 to 6 years. This includes earning a bachelor's degree and passing all the necessary professional exams. Many actuaries begin working in the field while still completing their exams, gaining practical experience that complements their studies.
What skills are essential?
Critical skills for an actuary include strong analytical abilities, proficiency in mathematics and statistics, and expertise in financial theory. Actuaries must also have excellent problem-solving skills, strong computer skills, particularly with statistical software, and good communication skills to explain complex concepts to non-specialists.
What are the main areas of work?
Actuaries typically work in insurance, pensions, healthcare, investments, and risk management. In insurance, they help design and price policies. In pensions, they assess future liabilities. Actuaries in healthcare analyse data to improve patient outcomes and reduce costs, while those in investments manage financial risks and returns.
What is the job outlook?
The job outlook for actuaries is strong in the United Kingdom because it is a global hub for companies in this sector. This demand is driven by the need for risk management expertise in insurance and financial services which are also concentrated in the City of London.
What is the average salary for an actuary?
The average salary for an actuary varies depending on experience and location. In the United Kingdom, entry-level actuaries can expect to earn between £30,000 and £40,000 per year. Experienced actuaries can earn upwards of £100,000 annually, with some in senior positions or specialised fields earning even more.
What are the career advancement opportunities?
Career advancement for actuaries often involves taking on more complex projects, moving into management positions, or specialising in a particular area such as consulting, enterprise risk management, or investment analysis. Continued professional development and obtaining advanced certifications can also lead to higher positions and salaries.
Why is continuing education important?
Continuing education is crucial for actuaries to stay updated with new laws, regulations, and industry trends. The actuarial profession is constantly evolving, and actuaries must maintain their knowledge and skills to provide the most accurate risk assessments and strategic advice.