As far as education goes, the job description of an actuary calls for the individual to have a background in mathematics and business. There are a number of different programs that can be taken in order to start with these finance jobs, as many universities offer a degree in finance. Many other people who want to pursue this career achieve degrees in mathematics, accounting, or economics. Some universities even offer a specialized program in actuarial science, but this is a rare find and is definitely not for everyone because it leaves this as the only potential career option.
Perhaps the most important part in getting one of these finance jobs is to get the proper certification. The Society of Actuaries and the Casualty of Actuarial Society can offer this certification, which is a pre-requisite that is found in most job descriptions. This accounting job will force applicants to complete either seven exams or four exams and some classroom assignments in order to gain certification, which is why a degree from a good university is required before attempting to become an actuary.
The detailed job description is someone who takes a look at the company's practices in order to find the likelihood of an accident, disability, or death occurring in relation to an individual or company's insurance policy. For example, if a construction company wishes to pick up a new insurance policy, the actuary would look at the company's history, where it usually works, its safety policies, and anything else that could possibly influence the job site's safety. This is a very important accounting job because the actuary will want to give the customer the lowest price possible without putting the insurance company at an unnecessary risk.
There are a number of different jobs that an individual can actually do with this career including working with healthcare companies. While the majority of people who choose this as a career end up working for an insurance company of some sort, there are also jobs available in the scientific community, as well as consultant jobs with major corporations. This is an excellent career for anyone with a finance background and because of its high risk nature, these jobs pay very well. Whether you have interest in the insurance industry or you would rather work for a private company as a personal consultant, there is sure to be a job that you will love within this industry.
While the job description is somewhat wide ranging, these finance jobs all pay very well because there is a lot of money at stake for the insurance companies. They want someone who is able to accurately predict the risk of a potential customer because charging too little will bankrupt the company very quickly while asking for too much will force the company to look extra hard for potential customers. A good actuary is able to look at the facts and figures, while figuring out a price that is far for all parties involved. This is not an easy process at all, so it is definitely a job description that not everyone will be able to handle. Having this much influence within a company is a very major responsibility, so make sure that you are up to the challenge before getting involved with this very challenging career.
