An actuary is a business professional who measures and manager’s risk. He mainly gives advices on financial projects. They make use of their knowledge and skills to reduce the impact of risk on a client. They analyze the data you have brought and gives you a golden management. It is a play of mathematics, economics and statistics to get the desired income from a project .It is very important o have handled many cases to have the right expertise to guide a client.
To an actuary every risk is an opportunity, they create a plan as an alternative for the big loss and save the company from a 70%-80%risk.There are different types of actuaries bank actuaries, financial actuaries, healthcare and general insurance actuaries. In any field they think according to the trading positions, datas, statistic and problem solving skills.
To be an actuary one must pass the exam conducted by the Institute of Actuaries in India. You can also enroll for actuarial science course in colleges and appear for exam.
Step 1 To become an actuary one must have passed 12th std with Mathematics and English as one of the main papers.
Step 2 There are colleges who give courses on Actuarial science they are:-
1)Bishop Herber College, Tamil Nadu
2)National Insurance Academy, Kolkata
3)Kalyani University ,West Bengal
4)Institute of Actuaries in India, Mumbai
5)Christ University ,Bangalore
You can actually work with high leading clients and world known companies once you have gained experience. Mostly actuaries work with insurance companies in an insurance environment they have to calculate premiums and formulate policies. They have a high demand in the financial organizations to formulate plans that do create any risk for the company owner .Government institutions take the help of actuaries to measure the risk of various schemes and plans.
Actuaries have a high demand because an actuary will help a business man to make more and more profit .If the profit of an company owner is 100crs then the actuary will get a fee of maybe 25-35% of the profit. If you are an established actuary then the percent of the profit can lead to 35%-40%.Established actuaries can even start their own consultancy firms.
