Actuary
ほけんすうりし
Industry & Occupation
Classification
Summary
Mathematical specialist who performs risk assessment of insurance contracts and calculation of premiums and reserves.
Description
An actuary (actuary) is a specialist who evaluates risks related to life insurance and non-life insurance, and calculates premiums and reserves. Using statistics, financial mathematics, and probability theory, they construct mathematical models, calculate solvency margin ratios, perform pension mathematics, and analyze and support the financial soundness of insurance companies through IFRS 17 compliance and other measures. They update mathematical methods in response to changes in laws, regulations, and accounting standards, and provide specialized advice to risk management departments and executives.
Future Outlook
Due to the need for reviewing pension and insurance systems amid declining birthrates and aging population, the necessity of IFRS 17 compliance, and advancements in data science, demand for actuaries with advanced mathematical skills is expected to steadily increase in the future.
Personality Traits
Cautious and precise / Eager to learn / Good at logical thinking
Work Style
Career Path
Assistant Actuary → Actuary → Senior Actuary → Chief Actuary → Head of mathematical department
Required Skills
Excel (Advanced) / Financial mathematics / Insurance mathematical model construction / Probability and statistics / Programming (Python, R)
Recommended Skills
Database (SQL) / English paper reading / Presentation skills / Risk management
Aptitudes (Strengths Preferred)
| Item | Description |
|---|---|
| Analytical & Logical Thinking | To precisely build and analyze data and mathematical models. |
| Attention to Detail & Accuracy | Because errors in amount calculations can greatly impact the insurance company's finances. |
| Learning Agility & Knowledge Acquisition | Continuous learning is necessary to adapt to new mathematical techniques and regulatory changes. |
| Numerical & Quantitative Analysis | High quantitative analytical skills are essential for handling advanced mathematical models. |
| Problem Solving | Because the ability to quantitatively evaluate and solve complex insurance risks is required. |
Aptitudes (Weaknesses Acceptable)
| Item | Description |
|---|---|
| Physical Stamina & Endurance | Mainly office desk work with low physical demands. |
Related Qualifications
- Japan Actuary Association Certified Actuary Exam
Aliases
- Actuary
- Insurance Actuary
Related Jobs
- Financial Analyst
- Risk Manager
- Statistical Analyst
- Underwriter