Career Insights in Actuarial Mathematics
A comprehensive overview of pursuing a career in actuarial mathematics, covering educational pathways at Vanier College and Concordia University, job responsibilities, required skills, work conditions, and key characteristics of the profession. Actuaries utilize math and statistics to analyze risks, estimate financial impacts, and advise clients on minimizing uncertainties. While the field offers a competitive job market and a good work-life balance, entry-level opportunities may be limited.
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Presentation Transcript
Actuarial Mathematics Kayla Registre
Vanier College Program: Commerce (pre-university) Duration: 2 years (I took 2.5 years) Requirements: 75% in TS4 and TS5 Useful classes: accounting, linear algebra, management Tuition and admission fees: 30$ (admission) and 260$ per year
Concordia University Program: Actuarial Mathematics (Bachelor of Arts) Duration: 3-4 years Requirements: 28 overall, 30 math (Linear Algebra, Calculus 1 and 2) Learn about computer science, accounting, finance and economics Co-op option Career options: Actuarial consulting, Insurance Concordia exempts you from taking four preliminary professional exams from SOA and CAS
Being an actuary - An actuary uses math and statistics to estimate the financial impact of uncertainty and help clients minimize risk. They can assess and manage the risks of financial investments, insurance policies, and other potentially risky ventures. Daily tasks include compiling and analyzing statistical data and other information, estimating the probability and likely economic cost of an event such as death, sickness, an accident, or a natural disaster. -
Work conditions - - - - - Indoors May travel to meet with clients At least 40hrs per week Work mostly alone, but has to be able to work well in teams Are somewhat responsible for the work done by others
Required skills Detail oriented Problem-solving Computer skills (SQL, VBA, R, Python) Research Deep understanding of economics and of the legislation relating to financial services
Other characteristics - - Competitive job market Rate that new entry-level actuarial jobs are opening up is much slower than the rate that new people are pursuing the career Average salary of 114 687$ (in Canada), 98 293$ (in Montreal) Low stress job Good work-life balance, once you ve completed everything - - -
