Actuary is a business profession, where financial impact of the risk and uncertainty is measured for any particular business. The expert assessment is done by the actuary about the financial security system and the focus is on the complexities, calculations present in them and the mechanisms available in them. To minimize the losses, actuary performs some mathematical calculations, which help them to quantify the contingent outcomes of those calculations.
The losses can be financial as well as that of emotional, which are associated with many uncertain events such as death, which cannot be avoided by anyone. There are many people whose death can incur a huge financial impact and to reduce this kind of impact, actuary is present. The events can impact on the balance sheets as well as on the management of the assets and liabilities as well as on the valuation skills. A program should be design and managed by the vagaries of the information system that can be used to control the risk by understanding the human behavior as well as analytic skills, business knowledge.
Actuary is considered to be the best job in the world. According to a survey in year 2010, actuary is a job that has been ranked as number one job. It is considered as a best job considering five main elements such as environment, income, outlook of employment, physical demands as well as stress required. In all the fields, it was on the top of chart. You can get the best income with very less stress required to take. In the earlier years, it was among top 25 best professions which were expected to have the best demand in the future.
To become an actuary man in India, you have to become a fellow member of the Institute of Actuaries of India or it can also be referred to as an Actuary. To get the membership of the institute, an examination has to be passed at various stages as well as fulfilling the required conditions from time to time. To appear for the examination you have to first register yourself as the student of the institute and for this the minimum requirement is the graduation with some mathematical subject as a major subject. The mathematical subject can be mathematics, statistics, engineering, econometrics and actuarial sciences.
The examination is divided into 4 groups called as series and there are total 15 subjects. The groups are CT, CA, ST and SA. The examinations are conducted twice in the year, ones in the May-June and the other is in October- November. You can give as many attempts as you want to clear the examination.
The actuaries have wide area work from insurance to investments and from government academics to risk management and reinsurance companies. To know more on this context and other related topics, visit Save My Job London Jobs service site
