Actuaries, economists
and statisticians

Description

Jobholders in this unit group apply theoretical principles and practical techniques to assess risk and formulate probabilistic outcomes in order to inform economic and business policy, and to analyse and interpret data used to assist in the formulation of financial, business and economic policies in order to maximise growth or improve business performance.

Tasks

assesses the objectives and requirements of the organisation seeking adviceuses a variety of techniques and theoretical principles to establish probability and risk in respect of e.g. life insurance or pensionsuses appropriate techniques and theoretical principles to determine an appropriate method of data collection and research methodology, analyse and interpret information gained and formulate recommendations on issues such as future trends, improved efficiencydesigns and manages surveys and uses statistical techniques in order to analyse and interpret the quantitative data collectedprovides economic or statistical advice to governments, commercial enterprises, organisations and other clients in light of research findingsaddresses seminars, conferences and the media to present results of research activity or to express professional views.

Educational Requirements

Entry is most common with a relevant degree or equivalent qualification. Professional qualifications are available and mandatory for actuarial occupations.