OFO No: 212101
Other names for Actuary:
What is an Actuary?
Using their analytical skills, Actuaries study the financial records and determine the financial impact of risk and uncertainty the business is under. They are a financial problem-solver.
They can work in many different areas, including: insurance companies, banks, corporations, hospitals, unions, consulting firms, government agencies etc.
Besides being extremely good at mathematics, Actuaries also know a lot about computer science, economics, law, political and social issues.
What does an Actuary do?
- opens their own private company and consult to large assurance companies as well as large or small businesses and individuals.
- analyses statistics
- determines the risks of their client’s investment/s
- monitors their client’s portfolio
- creates reports
- forecasts success or failures of investment/s
Are you … ?
- mathematically minded?
- clear thinking?
- hard worker?
- good under pressure?
- good communicator?
- computer literate
How do I become an Actuary?
Various South African universities offer recognised degree courses in Actuarial Science. Studying to become an Actuary takes a long time and a lot of hard work. The financial rewards, however, are worth it.
Some universities only offer a Bachelors in Commerce or a Bachelors in Business Science. It is up to you then to follow up with Actuarial Science at another university.
- UNIVERSITY OF CAPE TOWN
- STELLENBOSCH UNIVERSITY
- UNIVERSITY OF THE WITWATERSRAND
- UNIVERSITY OF THE PRETORIA
- CLICK HERE to check for a training institution near you to see what they offer.
- Make sure you understand their entry requirements for each course.
- To avoid scams, make sure your institution is registered with the Department of Higher Education. CLICK HERE to check accredited Private Higher Education Institutions.
- ACTUARIAL SOCIETY OF SA
How to become an Actuary: CLICK HERE
Is becoming an Actuary the right career choice for me?