Mathematical Careers in the Actuarial Field
Mathematics is a valuable tool in the Actuarial field. What an
actuary does is create and maintain valuable statistics that help
organizations predict the future. An actuary has an abundance of
mathematical skills, enjoys problem-solving, and is usually a curious
person who is interested in doing research. Besides these qualities
that an actuary normally possesses, one must be able keep up on
current trends and business issues, as well as know the latest
information in the social sciences, law, and economics. This
knowledge enables an actuary to be familiar with any situation that
he/she is asked to tackle. Therefore, he/she is able to factor in the
certain social and cultural factors that effect his/her calculations,
which brings him/her to the significant predictions that he/she is
paid to find.
The department of mathematics
offers "Math 342: Actuarial
Problem Solving" as a course by special arrangement, to help you
prepare for the first actuarial exam, Exam P/1. Contact the
department's actuarial program
coordinator for more details.
Some great descriptions of what the job of a mathematician in
the Actuarial field entails can be found from the following
sources:
- Look at Purdue University's description of an actuary and the common steps to getting into this field.
- Check out Actuaries Make a Difference, a pamphlet distributed by The Society of
Actuaries, that discusses what an actuary does, where an actuary works, information about the
Actuarial Exams, various job descriptions by actuary, and much more information that one would
want to know about this profession.
- Look at the Be an Actuary web site
to view information sponsored by Actuarial Careers, Inc., that contains all
sorts of information pertaining to the career of an actuary.
- Great Jobs for Math Majors is a very informative book that
gives a detailed description of what an actuary does, what a common salary might be, where an
actuary might work, and strategies for finding a job. (Pages 143-180.)
- To find out the nature of an actuary's job, as well as some personal descriptions, read
the Mathematical Scientists At Work: Second Edition.
- Click here to read about Regina M. Berens'
career as a Consulting Actuary with Muetterties, Bennett and Associates. This description is one
of the many provided by the American Mathematical Society.
- Read the stories written first-hand of Actuaries, Actuary Analysts, and Actuary Assistants in
101 Careers in Mathematics. This book has interesting stories
about what these people do for a living, and how they got there. (Pages 24, 102, 112, 114, 134, 202.)
- Click here for another interesting
description from the American Mathematical Society. There, you can read about Kara Raiguel's
career as an Assistant Actuary with the CIGNA Corporation. She finds that her calculus,
probability and statistics, and analysis courses prove to be very helpful.
