Read on Twitter
An actuary. Thread.
1. A profession of any kind is defined as an occupation, trade, craft ot activity in which one has a professed expertise in a particular field of work that requires a high level of skill and training
2. Actuaries seek to understand the phenomenon of "professions" because much of an actuary’s life is influenced by the fact that actuaries are in fact a group of professionals that are highly sought-after.
3. In layman terms, an actuary is a business professional who calculates financial values associated with uncertain events subject to risk such insurance premiums, pension contributions, the economic impact of an unforeseen situation (e.g. Coronavirus). An actuary also seeks to..
...suppress the impact or eliminate the impact of the risks thereof.
4. Basically, an actuary is a sangoma businesses and the economy needs.
5. Here's why actuaries are classified as business professionals:
- Actuaries have special knowledge tested through 14 board examinations and are kept up-to-date through continuous professional development
- Actuaries have a code of conduct that specifies ethical standards
...
- Actuaries have special knowledge tested through 14 board examinations and are kept up-to-date through continuous professional development
- Actuaries have a code of conduct that specifies ethical standards
...
- Actuaries are organisational, South African actuaries belong to the Federation of the Actuarial Society of South Africa (FASSA), a member state of the International Actuarial Association.
6. Actuaries are:
- acknowledged experts.
- respected and trusted professionals.
- practical, innovative, versatile and numerate.
- provide realistic solutions to intricate (complex) problems with a long-term forward-looking outlook.
- acknowledged experts.
- respected and trusted professionals.
- practical, innovative, versatile and numerate.
- provide realistic solutions to intricate (complex) problems with a long-term forward-looking outlook.
- good communicators who explain methodology and conclusions to non-technical audiences (basically, you don't have to be an actuary to understand what I can tell you about the economy)
7. Actuaries are expected to render quality services to their clients through updated actuarial knowledge, ethical behaviour and professional accountability. We are knowledgeable individuals who act with integrity, due care, honesty and objectivity.
8. Actuaries are employed by literally anybody.
Banks, the government, corporate firms, universities and most popularly, the insurance companies.
Banks, the government, corporate firms, universities and most popularly, the insurance companies.
9. In South Africa and Africa, in fact, across the world, actuaries are in very high demand.
In comparison to thousands of doctors, engineers, CAs, there are only 1514 actuaries in this country. (2018 numbers)
In comparison to thousands of doctors, engineers, CAs, there are only 1514 actuaries in this country. (2018 numbers)
10. Actuaries are knowledgeable and are trained in the disciplines of Mathematics (Linear Algebra, Calculus, Differential Equations and Analysis), Mathematical and Actuarial Modelling. Actuarial Mathematics. Financial Mathematics. Stochastic Processes ("Random Statistics").
Mathematical Statistics. Insurance and Risk Analysis. Contingencies. Data Sciences. Financial Engineering. Financial Management and Business Economics.
^ quite a lot.
^ quite a lot.
11. Industries where actuaries are most employed.
11.1. Insurance
11.2. Pensions
11.3. Banking
11.4. Investment
11.5. Healthcare
11.6. Risk Management
11.1. Insurance
11.2. Pensions
11.3. Banking
11.4. Investment
11.5. Healthcare
11.6. Risk Management
