Finance / Accounting

Actuary

Related positions: Actuary, Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Consulting Actuary, Health Actuary, Pricing Actuary, Pricing Analyst, Product Development Actuary, Retirement Actuary

Overview

An actuary is responsible for analyzing data and using statistical models to evaluate and manage financial risks. They work with insurance companies, financial institutions, and other organizations to assess risk and make recommendations for managing risk.

Actuaries use their knowledge of statistics and finance to analyze data and predict the likelihood of future events, such as accidents, natural disasters, or changes in financial markets. They then use this information to help their clients make informed decisions about financial risk management, including developing insurance products, setting premiums, and managing investment portfolios.

Common tasks 

    TaskRelated trait(s)
    Collecting and analyzing data Analytical Excellence Analytical Precision 
    Designing and managing insurance policies  Analytical Insight
    Assessing financial risks Analytical Excellence Analytical Precision Analytical Depth  Analytical Insight
    Developing financial models Analytical Excellence Analytical Precision  Analytical Insight Analytical Insight
    Communicating findings Poised Professionalism Compelling Presentation
    Testifying as expert witness  Compelling Presentation
    Collaborating with other professionals Poised Professionalism Compelling Presentation
    Ensuring compliance with policies and procedures 

    Soft skills measured by TraitForward

    TraitNo of QuestionsCronbach’s  alpha (α)
    Analytical Excellence100.80
    Can they consistently apply rigorous analytical thinking to complex problems while maintaining high standards of quality and accuracy in their work?
    Analytical Precision110.82
    Can they consistently maintain accuracy, thoroughness, and systematic organization when working with complex numerical data and analytical processes?
    Analytical Depth80.74
    Can they dive beyond surface-level data to uncover underlying patterns, relationships, and insights that others might miss?
    Poised Professionalism60.80
    Can they maintain their composure and emotional stability when faced with challenging situations, pressure, or conflicting demands?
    Analytical Precision60.70
    Can they demonstrate meticulous attention to detail when analyzing complex data and making careful, well-reasoned decisions based on thorough examination of all available information?
    Analytical Insight100.82
    Can they identify meaningful patterns in complex data and generate innovative perspectives that others might miss?
    Compelling Presentation50.74
    Can they present complex actuarial concepts and data analyses with confidence, clarity, and impact to both technical and non-technical audiences?
    *Cronbach’s alpha coefficient (α) determines the extent to which the questions consistently measure each trait and it is expressed as a number ranging between 0 and 1 . Higher values indicate higher agreement between questions.  A value of α equal to greater than .7 indicates acceptable reliability or internal consistency.  For more information on the psychometric properties of the solution, please click here.

    Find out the psychometric properties for the Actuary Traitforward questionnaire

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