Actuary belongs to the occupation unit group of 2241 ACTUARIES, MATHEMATICIANS AND STATISTICIANS and is a Skill Level 1 occupation in Australia. In other words, an actuary must have a level of skill commensurate with a bachelor degree or higher qualification. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification (ANZSCO Skill Level 1). Registration or licensing may be required.
Analyses mathematical, statistical, demographic, financial or economic data to predict and assess the long-term risk involved in financial decisions and planning. Registration or licensing is required.
Skills Assessment Authority:
VETASSESS is Australia’s leading vocational education and training assessment provider. It is the designated skills assessing authority for migration purposes for over 300 General Professional Occupations approved by the Department of Home Affairs (DHA).
UNIT GROUP 2241 ACTUARIES, MATHEMATICIANS AND STATISTICIANS
Most occupations in this unit group have a level of skill commensurate with a bachelor degree or higher qualification. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification (ANZSCO Skill Level 1). Registration or licensing may be required.
- defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
- examining financial projections for general insurance companies, finance companies, government and other organisations
- designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas
- formulating mathematical models to simulate processes
- applying models to experimental observations, and adjusting and recasting the models
- using numerical analysis methods to develop algorithms and perform computations
- liaising with management and clients to determine the subject or area to be surveyed or examined
- specifying the data to be collected, and the methodology to be used in collection and analysis
- evaluating and describing the reliability and utility of source information
- analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns
Australian Visa Options for 224111 ACTUARY
This occupation has access to the following Australian immigration programs:
If you are interested in understanding more about migrating to Australia and the prospect of working and living in Australia, please book a consultation with Ausdirect Migration today and our immigration experts will guide you along the journey.