Actuary

In instances where an applicant has an underpinning qualification at the required level that is not considered highly relevant in itself, but also possesses a Fellowship or Associateship of a body with which the Actuaries Institute of Australia holds a Mutual Recognition Agreement, the major field of study requirements will be considered as met.

In instances where an applicant has an underpinning qualification at the required level that is not considered highly relevant in itself, but they have undertaken further exams or are working towards completion of qualifications from, or membership or fellowship of, recognised actuarial institutes, a positive qualification outcome may be considered on a case-by-case basis provided all the six core principle subjects are completed.

Applicants are required to provide evidence, such as certificates, transcripts and syllabuses.

Highly relevant tasks include, but are not limited to:

• defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends. 
• examining financial projections for general insurance companies, finance companies, government and other organisations. 
• designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas. 

Actuaries work in a variety of practice areas such as General Insurance, Life Insurance, Banking, Data Analytics, Risk Management, Health, Wealth Management etc. They are actively involved in the development and modification of complex actuarial models.

Actuaries are expected to employ complex quantitative modelling techniques in the course of their work to analyse opportunities and risks.

When applying for a Skills Assessment, please ensure you submit sufficient evidence supporting your proof of identity, qualification and employment claims. Applicants nominating this occupation are required to provide evidence in line with VETASSESS documentation requirements (see List of Required Documents).

Applicants who do not possess degree-level qualifications in Actuarial Science, Actuarial Studies, or Actuarial Practice are strongly encouraged to provide a mapping of the subjects completed over the course of their studies to the six core principle subjects specified by the Actuaries Institute, as well as a copy of an official syllabus for each qualification. Applicants are also encouraged to provide details of any projects or research undertaken as part of their qualifications.

Applicants who have completed or are working towards completion of qualifications from, or membership, or fellowship of, recognised actuarial institutes are required to provide evidence of this. The evidence may be certificates, transcripts indicating completed units and syllabuses.