Occupation Profile – Actuary – (ANZSCO 224111) – Skilled / Employer-Sponsored Migration

Occupation TitleACTUARY
ANZSCO Code224111
Occupations in this Group224111 Actuary
224112 Mathematician
224113 Statistician
DescriptionAnalyses mathematical, statistical, demographic, financial or economic data to predict and assess the long-term risk involved in financial decisions and planning. Registration or licensing is required.
Skill Level1
SpecialisationNone
Occupation ListMedium and Long-term Strategic Skills List (MLTSSL)
Combined list of eligible skilled occupations for subclasses 457 and 186
CaveatsNone
Tasks-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
-formulating mathematical models to simulate processes
-applying models to experimental observations, and adjusting and recasting the models
-using numerical analysis methods to develop algorithms and perform computations
-liaising with management and clients to determine the subject or area to be surveyed or examined
-specifying the data to be collected, and the methodology to be used in collection and analysis
-evaluating and describing the reliability and utility of source information
-analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns
Skills Assessment AuthorityVETASSESS
Related Occupations224112 Mathematician
224113 Statistician
State Sponsorship OptionsSkilled Nominated visa (subclass 190) Sponsorship
Skilled Regional (Provisional) visa (subclass 489) Sponsorship
English RequirementsCompetent English (e.g. IELTS: at least 6 in each skill)