The first thing that you need to deal with before you look at actuarial careers is think about what actuaries actually do. Essentially, you will be using your knowledge of statistics, finance, and business in order to do a lot of risk evaluation. You will then use that knowledge and your experience to create policies that will reduce the amount of risk that is involved in your company's business ventures. Essentially, you are in the field of risk assessment, and you will move forward by finding ways for your employer to minimize the costs of any risk. For the most part, actuaries are most commonly found in the insurance industry.
When you are thinking about careers in actuarial science, you'll soon discover that there are plenty of different options available but that you still may be wondering what it takes to get ahead in this field. In the first place, you will find that you need to test well! There are a fair number of different examinations that are necessary to gain full professional status, and you will find that it's important to make sure that you have a solid grasp of mathematics. A logical and straightforward mindset is also essential, and you will find that the more you understand the industry you are getting into, the better.
Someone who is looking into careers in actuarial science is someone who needs to be a problem solver, especially if that person is looking into management. Take some time to make sure that you think about what your options are going to be regarding the industry. Essentially, you will be required to foresee potential problems and then plan ahead for them. Some people find this rather grim and frustrating, but other people thrive on the idea of making sure that the worst is planned for. It is often said that people who like to be in control of their environment do quite well in this field.
Remember that as you get involved with management that you will be taken away from the a lot of the problem solving that you would otherwise do. In many cases, you can get promoted from being an actuary with your firm to being a manager. This is something that can go a long way towards putting you in a different mindset, so make sure that you are aware of the changes that might occur. When you are looking into manager positions in this field, you're going to discover that you will do significantly less of the nitty-gritty work, but that you will have a lot more to do with overarching policy.
Being a manager in the actuary field means that you have to be a good communicator. Can you deal with people comfortably on a day-to-day basis? You will often be called upon to do everything from scheduling to dealing with customer complaints to running employee reviews, and this takes a certain amount of hardheadedness and determination. What can you offer and what are you going to be able to contribute to the company? Take some time to seriously consider what your favorite part of the job might be.
If you are someone who is happy with the actuarial sciences, you will find that managing is something that can be quite different. Remember that they are really two different jobs, and though an understanding of the industry and the proper certification is important, you will find that there is a lot that has to happen in order to make sure that you're going to get the right kind of environment. Remember that you should never settle for a job that makes you unhappy; there are a lot of options out there, so be sure to find one that suits you the best!
