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Actuarial analyst Apprenticeships

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Helping you find a career as an Actuarial analyst

The role of an actuarial analyst is to use statistical models and formulas to assess risk. For example, those who work in insurance may be responsible for calculating average life expectancies of various demographics to regulate the costs of policy premiums.

Actuarial analysts can specialise in the following areas:

- Savings and investments
- Software development
- Finance
- Pensions
- Employee benefits
- General insurance
- Life assurance

What does an Actuarial analyst do?
The specific role of an actuarial analyst will vary according to the industry they work in. However, daily duties may include:

- Producing statistical reports and analysis
- Using complex mathematical formulas
- Writing reports on calculations together with results of findings in simplistic terms
- Using software and spreadsheets to analyse data
- Providing technical support to an actuaries team
- Calculating costs
- Statistical modeling
- Giving presentations
Skills & interests required for an Actuarial analyst
You should have a strong background in mathematics and statistics, the ability to carry out statistical analysis, and the ability to produce reports and summaries of data that non-specialists can understand.
- Analytical skills
- Business Strategy
- Commercial Awareness
- Computer Programming
- Finance
- Mathematical ability
- Presentation Skills
- Problem Solving
- Teamwork
- Verbal Communication
- Written Communication
What hours does an Actuarial analyst typically do?
Working hours of an actuarial analyst are usually 9am to 5.30pm, Monday to Friday. Sometimes evening and weekend work may be required when working on complex projects.
What environment is an Actuarial analyst based in?
An actuarial analyst will generally be based within an office.
How much does an Actuarial analyst travel?
Actuarial analysts may be required to attend external meetings away from their regular working environment.
How much does an Actuarial analyst get paid?
The general starting salary for an actuarial analyst is £20,000 per annum. A certified actuarial analyst (CAA) start on a salary of around £30,000 per annum. With experience, a professional actuary's yearly salary is usually £52,000+ per annum. Senior roles will pay more than this.
Perks & benefits
Along with a salary an actuarial analyst can often expect company benefits such as medical insurance, gym membership, pension schemes, and more.
What qualifications does an Actuarial analyst need?
Most actuarial analysts have a degree or masters in statistics, mathematics or actuarial science. Companies generally look for an applicant with a 2:1 or a first degree.

You do not need a degree to train as an actuarial analyst and you can study for CAA exams before obtaining a relevant job. The Fellow of the Institute of Actuaries (FIA) route to qualify as an actuary is an A-level in mathematics at grade B or above.

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