15-2011.00 Bright Outlook

Actuaries

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

Career Cluster:Financial Services
Job Family:Computer and Mathematical
Job Zone:Job Zone Four: Considerable Preparation Needed
STEM:Research, Development, Design, and Practitioners
Industry:Finance and Insurance
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Technology Tools

C++IBM SPSS StatisticsMicrosoft AccessMicrosoft ExcelMicrosoft Office softwareMicrosoft Power BIMicrosoft PowerPointMicrosoft ProjectRMicrosoft SQL ServerMicrosoft VisioMicrosoft Visual BasicMicrosoft Visual Basic for Applications VBAMicrosoft WordOracle DatabaseOracle JavaTableauPythonSASStructured query language SQL

Key Tasks

  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
  • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
  • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
  • Provide advice to clients on a contract basis, working as a consultant.
  • Negotiate terms and conditions of reinsurance with other companies.
  • Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
  • Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
  • Testify before public agencies on proposed legislation affecting businesses.
  • Determine policy contract provisions for each type of insurance.
  • Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person disabled or killed in an accident.
  • Explain changes in contract provisions to customers.
  • Manage credit and help price corporate security offerings.

Skills

Reading Comprehension
81%
Mathematics
81%
Critical Thinking
81%
Judgment and Decision Making
81%
Complex Problem Solving
75%
Systems Evaluation
75%
Active Listening
75%
Speaking
72%
Systems Analysis
72%
Writing
63%
Active Learning
56%
Monitoring
53%
Coordination
50%
Time Management
50%
Social Perceptiveness
50%
Service Orientation
50%
Operations Analysis
50%
Persuasion
47%
Management of Personnel Resources
47%
Learning Strategies
47%
Instructing
44%
Negotiation
44%
Management of Financial Resources
41%
Programming
28%
Management of Material Resources
25%
Science
25%
Operations Monitoring
25%
Quality Control Analysis
22%
Technology Design
22%
Repairing
0%
Troubleshooting
0%
Installation
0%
Operation and Control
0%
Equipment Selection
0%
Equipment Maintenance
0%

Knowledge

Mathematics
98%
Computers and Electronics
74%
Economics and Accounting
70%
English Language
68%
Law and Government
50%
Administration and Management
47%
Education and Training
34%
Personnel and Human Resources
33%
Sales and Marketing
33%
Customer and Personal Service
31%
Communications and Media
28%
Administrative
21%
Medicine and Dentistry
20%
Engineering and Technology
19%
Telecommunications
18%
Psychology
18%
Production and Processing
17%
Sociology and Anthropology
15%
Geography
14%
Design
13%
Public Safety and Security
13%
Philosophy and Theology
8%
History and Archeology
7%
Transportation
6%
Biology
4%
Therapy and Counseling
4%
Mechanical
2%
Fine Arts
2%
Building and Construction
2%
Physics
2%
Foreign Language
1%
Food Production
1%
Chemistry
1%

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Abilities

Mathematical Reasoning
91%
Inductive Reasoning
78%
Number Facility
78%
Deductive Reasoning
75%
Category Flexibility
75%
Oral Expression
75%
Oral Comprehension
75%
Written Comprehension
75%
Written Expression
75%
Problem Sensitivity
72%
Information Ordering
72%
Near Vision
69%
Speech Clarity
66%
Speech Recognition
60%
Flexibility of Closure
56%
Selective Attention
56%
Fluency of Ideas
53%
Originality
47%
Perceptual Speed
44%
Far Vision
41%
Speed of Closure
41%
Time Sharing
38%
Memorization
38%
Visualization
35%
Auditory Attention
25%
Visual Color Discrimination
25%
Hearing Sensitivity
22%
Depth Perception
22%
Trunk Strength
19%
Finger Dexterity
13%
Wrist-Finger Speed
13%
Glare Sensitivity
0%
Reaction Time
0%
Extent Flexibility
0%
Arm-Hand Steadiness
0%
Night Vision
0%
Sound Localization
0%
Stamina
0%
Static Strength
0%
Explosive Strength
0%
Peripheral Vision
0%
Multilimb Coordination
0%
Spatial Orientation
0%
Speed of Limb Movement
0%
Dynamic Strength
0%
Control Precision
0%
Gross Body Equilibrium
0%
Rate Control
0%
Dynamic Flexibility
0%
Manual Dexterity
0%
Response Orientation
0%
Gross Body Coordination
0%

Work Activities

Analyzing Data or Information
95%
Processing Information
93%
Working with Computers
92%
Getting Information
89%
Making Decisions and Solving Problems
87%
Updating and Using Relevant Knowledge
85%
Communicating with Supervisors, Peers, or Subordinates
85%
Evaluating Information to Determine Compliance with Standards
80%
Interpreting the Meaning of Information for Others
76%
Identifying Objects, Actions, and Events
73%
Communicating with People Outside the Organization
65%
Providing Consultation and Advice to Others
65%
Organizing, Planning, and Prioritizing Work
64%
Establishing and Maintaining Interpersonal Relationships
63%
Estimating the Quantifiable Characteristics of Products, Events, or Information
62%
Thinking Creatively
61%
Developing Objectives and Strategies
58%
Guiding, Directing, and Motivating Subordinates
58%
Coaching and Developing Others
57%
Documenting/Recording Information
56%
Monitoring Processes, Materials, or Surroundings
56%
Developing and Building Teams
54%
Training and Teaching Others
51%
Coordinating the Work and Activities of Others
47%
Scheduling Work and Activities
46%
Judging the Qualities of Objects, Services, or People
42%
Resolving Conflicts and Negotiating with Others
40%
Selling or Influencing Others
36%
Staffing Organizational Units
34%
Monitoring and Controlling Resources
30%
Performing Administrative Activities
28%
Assisting and Caring for Others
22%
Performing for or Working Directly with the Public
14%
Inspecting Equipment, Structures, or Materials
13%
Controlling Machines and Processes
12%
Drafting, Laying Out, and Specifying Technical Devices, Parts, and Equipment
7%
Handling and Moving Objects
5%
Performing General Physical Activities
5%
Repairing and Maintaining Electronic Equipment
5%
Operating Vehicles, Mechanized Devices, or Equipment
2%
Repairing and Maintaining Mechanical Equipment
1%

Work Context

E-Mail

How frequently does your job require you to use E-mail?

100%

Indoors, Environmentally Controlled

How often does this job require working indoors in an environmentally controlled environment (like a warehouse with air conditioning)?

100%

Spend Time Sitting

How much does this job require sitting?

98%

Face-to-Face Discussions with Individuals and Within Teams

How frequently does your job require face-to-face discussions with individuals and within teams?

90%

Telephone Conversations

How often do you have telephone conversations in this job?

87%

Importance of Being Exact or Accurate

How important is being very exact or highly accurate in performing this job?

86%

Work With or Contribute to a Work Group or Team

How important is it to work with or contribute to a work group or team in this job?

80%

Duration of Typical Work Week

Number of hours typically worked in one week.

79%

Impact of Decisions on Co-workers or Company Results

What results do your decisions usually have on other people or the image or reputation or financial resources of your employer?

74%

Determine Tasks, Priorities and Goals

How much freedom does the worker have in determining the tasks, priorities, or goals of the job?

72%

Freedom to Make Decisions

How much decision making freedom, without supervision, does the job offer?

72%

Written Letters and Memos

How frequently does your job require written letters and memos?

71%

Contact With Others

How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it?

70%

Level of Competition

To what extent does this job require the worker to compete or to be aware of competitive pressures?

66%

Time Pressure

How often does this job require the worker to meet strict deadlines?

62%

Importance of Repeating Same Tasks

How important are continuous, repetitive, physical activities (like key entry) or mental activities (like checking entries in a ledger) to performing this job?

56%

Frequency of Decision Making

How often is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?

52%

Work Outcomes and Results of Other Workers

How responsible is the worker for work outcomes and results of other workers?

51%

Coordinate or Lead Others in Accomplishing Work Activities

How important is it to coordinate or lead others (not as a supervisor or team leader) in accomplishing work activities in this job?

45%

Physical Proximity

To what extent does this job require the worker to perform job tasks physically close to other people?

43%

Deal With External Customers or the Public in General

How important is it to deal with external customers (as in retail sales) or the public in general (as in police work) in this job?

36%

Consequence of Error

How serious would the result usually be if the worker made a mistake that was not easily correctable?

34%

Degree of Automation

How automated is the job?

32%

Conflict Situations

How frequently are there conflict situations the employee has to face in this job?

30%

Public Speaking

How frequently does your job require public speaking (one speaker with an audience)?

30%

Spend Time Making Repetitive Motions

How much does this job require making repetitive motions?

29%

Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or Controls

How much does this job require using your hands to handle, control, or feel objects, tools or controls?

20%

Dealing With Unpleasant, Angry, or Discourteous People

How frequently does the worker have to deal with unpleasant, angry, or discourteous individuals as part of the job requirements?

17%

Exposed to Sounds, Noise Levels that are Distracting or Uncomfortable

How often does this job require working exposed to sounds and noise levels that are distracting or uncomfortable?

16%

Spend Time Standing

How much does this job require standing?

15%

Health and Safety of Other Workers

How much responsibility is there for the health and safety of others in this job?

14%

Work Schedules

How regular are the work schedules for this job?

11%

Spend Time Walking or Running

How much does this job require walking or running?

8%

Dealing with Violent or Physically Aggressive People

How frequently does this job require the worker to deal with physical aggression of violent individuals?

3%

Pace Determined by Speed of Equipment

How important is it to this job that the pace is determined by the speed of equipment or machinery? (This does not refer to keeping busy at all times on this job.)

3%

Exposed to Contaminants

How often does this job require working exposed to contaminants (such as pollutants, gases, dust or odors)?

1%

Exposed to Extremely Bright or Inadequate Lighting Conditions

How often does this job require working in extremely bright or inadequate lighting conditions?

1%

Exposed to Minor Burns, Cuts, Bites, or Stings

How often does this job require exposure to minor burns, cuts, bites, or stings?

1%

Exposed to Very Hot or Cold Temperatures

How often does this job require working in very hot (above 90 F degrees) or very cold (below 32 F degrees) temperatures?

1%

Spend Time Bending or Twisting Your Body

How much does this job require bending or twisting your body?

1%

Spend Time Keeping or Regaining Balance

How much does this job require keeping or regaining your balance?

1%

Exposed to Cramped Work Space, Awkward Positions

How often does this job require working in cramped work spaces that requires getting into awkward positions?

0%

Exposed to Disease or Infections

How often does this job require exposure to disease/infections?

0%

Exposed to Hazardous Conditions

How often does this job require exposure to hazardous conditions?

0%

Exposed to Hazardous Equipment

How often does this job require exposure to hazardous equipment?

0%

Exposed to High Places

How often does this job require exposure to high places?

0%

Exposed to Radiation

How often does this job require exposure to radiation?

0%

Exposed to Whole Body Vibration

How often does this job require exposure to whole body vibration (like operating a jackhammer or earth moving equipment)?

0%

In an Enclosed Vehicle or Operate Enclosed Equipment

How often does this job require working in a closed vehicle or operate enclosed equipment (like a car)?

0%

In an Open Vehicle or Operating Equipment

How often does this job require working in an open vehicle or operating equipment (like a tractor)?

0%

Indoors, Not Environmentally Controlled

How often does this job require working in an environment that is not environmentally controlled (like a warehouse without air conditioning)?

0%

Outdoors, Exposed to All Weather Conditions

How often does this job require working outdoors, exposed to all weather conditions?

0%

Outdoors, Under Cover

How often does this job require working outdoors, under cover (like in an open shed)?

0%

Spend Time Climbing Ladders, Scaffolds, or Poles

How much does this job require climbing ladders, scaffolds, poles, etc.?

0%

Spend Time Kneeling, Crouching, Stooping, or Crawling

How much does this job require kneeling, crouching, stooping or crawling?

0%

Wear Common Protective or Safety Equipment such as Safety Shoes, Glasses, Gloves, Hearing Protection, Hard Hats, or Life Jackets

How often does this job require wearing common protective or safety equipment such as safety shoes, glasses, gloves, hearing protection, hard hats or life-jackets?

0%

Wear Specialized Protective or Safety Equipment such as Breathing Apparatus, Safety Harness, Full Protection Suits, or Radiation Protection

How often does this job require wearing specialized protective or safety equipment such as breathing apparatus, safety harness, full protection suits, or radiation protection?

0%

Education

Bachelor's degree

79%

Post-baccalaureate certificate

11%

Professional degree

11%

Interests

Conventional

Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or hum

87

Investigative

Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the f

57

Enterprising

Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertis

40

Social

Work involves helping, teaching, advising, assisting, or providing service to others. Social occupations are often associated with social, health care, personal service, teaching/education, or religious activities.

25

Realistic

Work involves designing, building, or repairing of equipment, materials, or structures, engaging in physical activity, or working outdoors. Realistic occupations are often associated with engineering, mechanics and electronics, construction, woodworking, t

14

Artistic

Work involves creating original visual artwork, performances, written works, food, or music for a variety of media, or applying artistic principles to the design of various objects and materials. Artistic occupations are often associated with visual arts,

3

Work Styles

Attention to Detail
100%
Cautiousness
89%
Dependability
88%
Intellectual Curiosity
86%
Integrity
79%
Achievement Orientation
71%
Perseverance
55%
Self-Confidence
48%
Innovation
47%
Stress Tolerance
41%
Leadership Orientation
38%
Cooperation
32%
Initiative
32%
Adaptability
31%
Self-Control
31%
Tolerance for Ambiguity
23%
Sincerity
22%
Humility
17%
Social Orientation
17%
Empathy
1%

Work Values

Working Conditions
67%
Achievement
61%
Independence
61%
Recognition
56%
Support
56%
Relationships
45%

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