1220.0 - Australian Standard Classification of Occupations (ASCO) Second Edition, 1997  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 31/07/1997   
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2293-15 Actuary

Applies mathematical, statistical and economic analyses to a wide range of practical problems in areas of finance such as insurance, superannuation and investment.

Skill Level:
The entry requirement for this occupation is a bachelor degree or higher qualification. In some instances relevant experience is required in addition to the formal qualification. Registration or licensing is required.

Tasks Include:

  • defines, analyses and solves complex financial and business problems relating to areas such as insurance premiums, annuities, pensions and dividends
  • designs new types of policies, assesses risks and analyses investments in life insurance, superannuation funds, health insurance, friendly societies, stock exchanges and other areas
  • assists with corporate investment policy and gives advice to management
  • calculates company surpluses and advises on the distribution to policy holders
  • examines financial projections for general insurance companies, finance companies and other institutions
  • may advise governments on the design and implementation of financial policies in such areas as superannuation funds and pensions, sickness, retirement and unemployment schemes
  • may work as a consultant, offering statistical and financial advice to general insurance companies, finance companies and other institutions

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