Actuarial Executive

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Actuarial Executives analyse the financial costs of risk and uncertainties to carry out technical pricing for financial products.

Actuarial Executive Job Description
  • Analyse and utilise statistical data to extract meaningful insights to derive the rates for financial products.
  • Assess portfolio risks using mathematical modelling techniques and statistical concepts.
  • Calculate the pricing of insurance benefits and credit schemes ensuring that products are priced fairly and competitively, while also guaranteeing the long-term profitability of the company.
  • Monitor the development of clients' accounts with proper documentation.
  • Participate in technical knowledge-sharing activities and events.

Note

Actuarial Executives in Singapore are the number-crunching wizards who help companies navigate financial risks, all while enjoying the city's vibrant culture.

What you should know about Actuarial Executive jobs in Singapore
Nature of Work

Nature of Work

Typically, Actuarial Executive jobs include the application of Economics, Applied Statistics, Finance, Accounting, Calculus, and Computer Science.
Key Advice

Key Advice

Learn how to navigate and use Accounting software early. They are extremely helpful in checking compliance standards and assessing risks!
  • Entry Requirements
    Entry Requirements
    • A bachelor's degree in Actuarial Science or related studies such as Mathematics is required.
    • Knowing Economics, Accounting, Computer Science, Statistics, Calculus, or Probability will be good. The theory and practice behind these topics will be a huge advantage for you!
  • Possible Pathway
    Possible Pathway
    87Actuarial Executive
Skills you need to pursue an Actuarial Executive career in Singapore
Hard Skills icon Hard Skills

Financial Modelling

Skills in creating financial models like LBO and DCF for risk assessment and decision-making.

Data Analytics

Ability to analyse large sets of data for predicting trends and calculating risks.

Programming and Coding

Knowledge of programming languages like Python or R for automating tasks and data analysis.
Soft Skills icon Soft Skills

Communication

Clear and effective sharing of complex information with others.

Innovative Problem-Solving

Creative approach to solving challenges in actuarial tasks.

Critical Thinking

Can analyse information carefully and make logical decisions.
Frequently asked questions (FAQs)
  • What is the meaning of actuarial?
    It is the use of statistics to assess the probability of an event and its financial consequences. For example, in an insurance company, the role of an Actuarial Executive is to calculate the risks of insuring clients and the premiums they should be offering.
  • Do Actuarial Executives only work at insurance companies?
    No, they can work at investment banks and consultancy firms - their analytical skills are in high demand!
  • How good do Actuarial Executives need to be in math?
    It is recommended to have a solid foundation in Mathematics as it is essential. Continuous learning and staying up to date with Mathematical concepts and techniques will also be crucial for success in this field.
  • What are some examples of softwares used by Actuarial Executives?
    Some examples include Actuarial software, Statistical software, Spreadsheet software, Database software, and others.
  • What are the risks involved in the job of Actuarial Executives?
    There are many risks. An example of a risk is inaccurate assessments and financial loss. If the assessments are inaccurate, it can result in significant financial losses for the company.

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