Actuarial Consultant Job Profile and Description

An actuarial consultant is a person who advises his client in decision making regarding methods, plans, processes, ways etc which they must take into consideration while making pension, insurance or financial plan.  They analyze and calculate the statistics and ultimately provide the exact information to their client. These help their clients to determine and realize what the best schemes available in the market. This job is getting on demand in different sectors like healthcare, investment banking and business management.

Duties and Responsibilities

  • An actuarial consultant uses mathematical techniques and statistics concepts in order to determine and assess risk of a particular scheme.
  • They must apply different solutions for resolving a business problems
  • They must interact with other professionals in order to develop systems that could ensure the compliance with the requirements of the regulatory bodies.
  • They must keep a close eye to the new research and developments that have arise in the business world.
  • They must undertake company’s actuarial valuations.
  • They advise their client on administration of life insurance and pension schemes and even on marketing.
  • Their work is to explain the risk and limitation of each and every pension, insurance and any other financial schemes in details to their client.

Skills and Specifications

  • They must have a sound knowledge of consultancy environment.
  • They must posses the capability of handling the client demands.
  • They must posses a good communication and managerial skill.
  • They should have strong statistical and economical concept of the present business market.

Education and Qualifications

One needs to have a master’s or bachelor’s degree in any discipline of commerce or accountancy or economics. A combination of a MBA degree in finance would surely be an added advantage to it. The consultancy experience is also required.