Actuary
An Actuary is an organizational analyst who can perform actuarial tasks.
- Context:
- They can be trained in Actuarial Science.
- …
- Example(s):
- an Insurance Actuary.
- …
- Counter-Example(s):
- a Data Miner.
- an Accountant.
- See: Actuarial Report, Risk Model, Financial Security System, Business Analyst, Underwriter, Actuarial Reserves, Reinsurance.
References
2021
- (Wikipedia, 2021) ⇒ https://en.wikipedia.org/wiki/actuary Retrieved:2021-3-19.
- An actuary is a business professional who deals with the measurement and management of risk and uncertainty. The name of the corresponding field is actuarial science. These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms. While the concept of insurance dates to antiquity, the concepts needed to scientifically measure and mitigate risks have their origins in the 17th century studies of probability and annuities. Actuaries of the 21st century require analytical skills, business knowledge, and an understanding of human behavior and information systems to design and manage programs that control risk. The actual steps needed to become an actuary are usually country-specific; however, almost all processes share a rigorous schooling or examination structure and take many years to complete. The profession has consistently been ranked as one of the most desirable. In various studies, being an actuary was ranked number one or two multiple times since 2010 and in the top 20 for most of the past decade.
2021
- (Wikipedia, 2021) ⇒ https://en.wikipedia.org/wiki/Actuarial_science Retrieved:2021-4-19.
- Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance, and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty.
Actuaries are professionals trained in this discipline. In many countries, actuaries must demonstrate their competence by passing a series of rigorous professional examinations. …
- Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance, and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty.
2013
- http://en.wikipedia.org/wiki/Actuary#Disciplines
- Actuaries' insurance disciplines include life; health; pensions, annuities, and asset management; social welfare programs; property; casualty; general insurance; and reinsurance. Life, health, and pension actuaries deal with mortality risk, morbidity, and consumer choice regarding the ongoing utilization of drugs and medical services risk, and investment risk. Products prominent in their work include life insurance, annuities, pensions, mortgage and credit insurance, short and long term disability, and medical, dental, health savings accounts and long term care insurance. In addition to these risks, social insurance programs are greatly influenced by public opinion, politics, budget constraints, changing demographics and other factors such as medical technology, inflation and cost of living considerations Template:Bureau of Labor Statistics.
Casualty actuaries, also known as non-life or general insurance actuaries, deal with risks that can occur to people or property other than risks related to the life or health of a person. Products prominent in their work include auto insurance, homeowners insurance, commercial property insurance, workers' compensation, title insurance, malpractice insurance, products liability insurance, directors and officers liability insurance, environmental and marine insurance, terrorism insurance and other types of liability insurance. Reinsurance products have to accommodate all of the previously mentioned products, and in addition have to reflect properly the increasing long term risks associated with climate change, cultural litigiousness, acts of war, terrorism and politics Template:Bureau of Labor Statistics.
Both major classes of actuaries are also called upon for their expertise in enterprise risk management Template:Bureau of Labor Statistics. This can involve dynamic financial analysis, stress testing, the formulation of corporate risk policy, and the setting up and running of corporate risk departments Template:Institute and Faculty of Actuaries. Actuaries are also involved in other areas of the financial services industry, and can be involved in managing corporate credit, company evaluations, and tool development Template:Bureau of Labor Statistics.
- Actuaries' insurance disciplines include life; health; pensions, annuities, and asset management; social welfare programs; property; casualty; general insurance; and reinsurance. Life, health, and pension actuaries deal with mortality risk, morbidity, and consumer choice regarding the ongoing utilization of drugs and medical services risk, and investment risk. Products prominent in their work include life insurance, annuities, pensions, mortgage and credit insurance, short and long term disability, and medical, dental, health savings accounts and long term care insurance. In addition to these risks, social insurance programs are greatly influenced by public opinion, politics, budget constraints, changing demographics and other factors such as medical technology, inflation and cost of living considerations Template:Bureau of Labor Statistics.
2013
- http://www.actuarialstandardsboard.org/asops/introductoryactuarialstandardpractice/
- QUOTE: The Actuarial Standards Board (ASB) promulgates actuarial standards of practice (ASOPs) for use by actuaries when rendering actuarial services in the United States. The ASB is vested by the U.S.-based actuarial organizations¹ with the responsibility for promulgating ASOPs for actuaries rendering actuarial services in the United States. Each of these organizations requires its members, through its Code of Professional Conduct² (Code), to satisfy applicable ASOPs when rendering actuarial services in the United States.