FAQs about the Actuarial Field
Who should become an actuary and what attributes would be of help?
To become an actuary, you will generally need to have a high-level of mathematical ability and an above-average level of intelligence.
Important characteristics for an actuary to have would be as follows:
- Interest in solving complicated problems.
- Interest in business, finance and economics.
- Good oral communication skills.
- Good written communication skills.
- Perseverance (especially in tackling the exams!!!).
Where do most actuaries work in Malaysia?
The areas of work for actuaries are not limited to insurance firms only. Instead, the horizon for this line of job is very wide. Below are some of the areas of work which actuaries do:
- Life Insurance / Family Takaful
- General Insurance / General Takaful
- Reinsurance / Retakaful
- Actuarial Consulting
- Investment and Financial Services
- Employee Benefit Industry (e.g. EPF)
- Government Sector (e.g. BNM)
- Colleges and Universities
What are the career options available to actuaries?
Actuaries have historically taken on the following positions in companies:
- Chief Executive Officer (CEO)
- Chief Risk Officer (CRO)
- Chief Financial Officer (CFO)
- Appointed Actuary / Signing Actuary
- Asset/Investment Consultant
- Management Consultant