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Actuarial Managers

Descriptions & Duties

  • Actuarial Managers carry out actuarial studies related to the company's operations. They supervise the preparation of valuations and reports as required. They also assist management in the formulation of product development and pricing.

Generic Competencies

Physical Abilities

Physical abilities

  • Physical strength
  • Eye hand coordination / precision / dexterity

 

Importance:1 (Max:5) 

Skill is rarely required

 

Technology Skills

Technology skills

  • Computer literacy
  • Application of technology

 

Importance:4 (Max:5) 

Skill is frequently required

 

Cognitive Abilities

Cognitive abilities

  • Creativity
  • Visualisation
  • Logical thinking

 

Importance:3 (Max:5) 

Skill is basically required

 

Comprehension And Expression

Comprehension and expression skills

  • Reading comprehension
  • Oral / written expression

 

Importance:5 (Max:5) 

Skill is required all the time

 

Social Skills

Social skills

  • Communication
  • Negotiation
  • Persuasion

 

Importance:4 (Max:5) 

Skill is frequently required

 

Organisation And Execution Skills

Organisation and execution skills

  • Planning
  • Organising
  • Judgement
  • Decision making

 

Importance:5 (Max:5) 

Skill is required all the time

 

Problem Solving Skills

Problem solving skills

  • Ability to solve simple and complex problems effectively and efficiently

 

Importance:5 (Max:5) 

Skill is required all the time

 

Management Skills

Management skills

  • Leadership
  • Management of finance / time / people / other resources

 

Importance:5 (Max:5) 

Skill is required all the time

 

Trade Specific Competencies

Detail oriented

Actuarial Managers must pay attention to details when examining documentation.

Analytical skills

Actuarial Managers must evaluate information carefully and be able to make final decision.

General Requirements

Academic qualification

  • A recognised bachelor's degree, typically in actuarial science, statistics, mathematics, or other analytical field

Professional qualification

  • Professional actuarial qualification such as Fellow of the Society of Actuaries of the United States of America (FSA), Fellow of Canadian Institute of Actuaries (FCIA), Fellow of the Institute of Actuaries of England (FIA) or equivalent is preferable

Career Path & Salary

Private Sector

Monthly Salary $20,000-$50,000

Monthly Salary $30,000-$60,000

Monthly Salary $80,000-$100,000

Monthly Salary $70,000-$120,000

Related Education & Training

Work Environment

  • Actuarial Managers typically work in an office setting and usually work normal office hours. Most actuaries work at insurance companies, where they help design policies and determine the premiums that should be charged for each policy.

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