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Actuaries

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

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    Work Activities

    Work Activities

    • Explain changes in contract provisions to customers.
    • Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
    • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
    • Manage credit and help price corporate security offerings.
    • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
    • Negotiate terms and conditions of reinsurance with other companies.
    • Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
    • Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
    • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
    • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
    • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
    • Determine policy contract provisions for each type of insurance.

    Skills

    • Writing

      Writing things for co-workers or customers.

    • Systems Evaluation

      Measuring how well a system is working and how to improve it.

    • Critical Thinking

      Thinking about the pros and cons of different ways to solve a problem.

    • Social Perceptiveness

      Understanding people's reactions.

    • Learning Strategies

      Using the best training or teaching strategies for learning new things.

    • Operations Monitoring

      Watching gauges, dials, or display screens to make sure a machine is working.

    • Complex Problem Solving

      Noticing a problem and figuring out the best way to solve it.

    • Negotiation

      Bringing people together to solve differences.

    • Mathematics

      Using math to solve problems.

    • Speaking

      Talking to others.

    • Troubleshooting

      Figuring out what is causing equipment, machines, wiring, or computer programs to not work.

    • Science

      Using scientific rules and strategies to solve problems.

    • Systems Analysis

      Figuring out how a system should work and how changes in the future will affect it.

    • Management of Personnel Resources

      Selecting and managing the best workers for a job.

    • Active Learning

      Figuring out how to use new ideas or things.

    • Coordination

      Changing what is done based on other people's actions.

    • Equipment Selection

      Deciding what kind of tools and equipment are needed to do a job.

    • Active Listening

      Listening to others, not interrupting, and asking good questions.

    • Management of Financial Resources

      Making spending decisions and keeping track of what is spent.

    • Monitoring

      Keeping track of how well people and/or groups are doing in order to make improvements.

    • Programming

      Writing computer programs.

    • Operation and Control

      Using equipment or systems.

    • Equipment Maintenance

      Planning and doing the basic maintenance on equipment.

    • Judgment and Decision Making

      Thinking about the pros and cons of different options and picking the best one.

    • Persuasion

      Talking people into changing their minds or their behavior.

    • Reading Comprehension

      Reading work-related information.

    • Time Management

      Managing your time and the time of other people.

    • Management of Material Resources

      Managing equipment and materials.

    • Service Orientation

      Looking for ways to help people.

    • Operations Analysis

      Figuring out what a product or service needs to be able to do.

    • Instructing

      Teaching people how to do something.

    • Technology Design

      Making equipment and technology useful for customers.

    • Installation

      Installing equipment, machines, wiring, or computer programs.

    • Repairing

      Repairing machines or systems using the right tools.

    • Quality Control Analysis

      Testing how well a product or service works.

    WorkKeys®

    Applied Math
    6
    Workplace Documents
    6
    Graphic Literacy
    5

    Abilities

    • Visual Color Discrimination

      Noticing the difference between colors, including shades and brightness.

    • Visualization

      Imagining how something will look after it is moved around or changed.

    • Dynamic Flexibility

      Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.

    • Perceptual Speed

      Quickly comparing groups of letters, numbers, pictures, or other things.

    • Arm-Hand Steadiness

      Keeping your arm or hand steady.

    • Extent Flexibility

      Bending, stretching, twisting, or reaching with your body, arms, and/or legs.

    • Far Vision

      Seeing details that are far away.

    • Response Orientation

      Quickly deciding if you should move your hand, foot, or other body part.

    • Wrist-Finger Speed

      Making fast, simple, repeated movements of your fingers, hands, and wrists.

    • Speed of Limb Movement

      Quickly moving your arms and legs.

    • Gross Body Equilibrium

      Keeping your balance or staying upright.

    • Depth Perception

      Deciding which thing is closer or farther away from you, or deciding how far away it is from you.

    • Auditory Attention

      Paying attention to one sound while there are other distracting sounds.

    • Speech Recognition

      Recognizing spoken words.

    • Oral Comprehension

      Listening and understanding what people say.

    • Written Expression

      Communicating by writing.

    • Number Facility

      Adding, subtracting, multiplying, or dividing.

    • Glare Sensitivity

      Seeing something even if there is a glare or very bright light.

    • Sound Localization

      Noticing the direction that a sound came from.

    • Speech Clarity

      Speaking clearly.

    • Peripheral Vision

      Seeing something to your side when your are looking ahead.

    • Written Comprehension

      Reading and understanding what is written.

    • Problem Sensitivity

      Noticing when problems happen.

    • Finger Dexterity

      Putting together small parts with your fingers.

    • Dynamic Strength

      Exercising for a long time without your muscles getting tired.

    • Gross Body Coordination

      Moving your arms, legs, and mid-section together while your whole body is moving.

    • Category Flexibility

      Grouping things in different ways.

    • Speed of Closure

      Quickly knowing what you are looking at.

    • Control Precision

      Quickly changing the controls of a machine, car, truck or boat.

    • Trunk Strength

      Using your lower back and stomach.

    • Time Sharing

      Doing two or more things at the same time.

    • Information Ordering

      Ordering or arranging things.

    • Hearing Sensitivity

      Telling the difference between sounds.

    • Night Vision

      Seeing at night or under low light.

    • Manual Dexterity

      Holding or moving items with your hands.

    • Stamina

      Exercising for a long time without getting out of breath.

    • Near Vision

      Seeing details up close.

    • Multilimb Coordination

      Using your arms and/or legs together while sitting, standing, or lying down.

    • Static Strength

      Lifting, pushing, pulling, or carrying.

    • Explosive Strength

      Jumping, sprinting, or throwing something.

    • Oral Expression

      Communicating by speaking.

    • Fluency of Ideas

      Coming up with lots of ideas.

    • Originality

      Creating new and original ideas.

    • Deductive Reasoning

      Using rules to solve problems.

    • Mathematical Reasoning

      Choosing the right type of math to solve a problem.

    • Flexibility of Closure

      Seeing hidden patterns.

    • Selective Attention

      Paying attention to something without being distracted.

    • Reaction Time

      Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.

    • Rate Control

      Changing when and how fast you move based on how something else is moving.

    • Inductive Reasoning

      Making general rules or coming up with answers from lots of detailed information.

    • Memorization

      Remembering words, numbers, pictures, or steps.

    • Spatial Orientation

      Knowing where things are around you.

    Knowledge

    • Mathematics

      Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

    • Foreign Language

      Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.

    • Administration and Management

      Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

    • Administrative

      Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.

    • Building and Construction

      Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.

    • Chemistry

      Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.

    • Psychology

      Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.

    • Philosophy and Theology

      Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture.

    • Public Safety and Security

      Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.

    • Law and Government

      Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

    • Customer and Personal Service

      Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

    • Personnel and Human Resources

      Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.

    • Economics and Accounting

      Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.

    • Design

      Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.

    • Mechanical

      Knowledge of machines and tools, including their designs, uses, repair, and maintenance.

    • Biology

      Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.

    • Sociology and Anthropology

      Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.

    • Geography

      Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.

    • Therapy and Counseling

      Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance.

    • Education and Training

      Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

    • English Language

      Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

    • Fine Arts

      Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.

    • History and Archeology

      Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.

    • Communications and Media

      Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.

    • Sales and Marketing

      Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

    • Production and Processing

      Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.

    • Food Production

      Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.

    • Computers and Electronics

      Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

    • Engineering and Technology

      Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.

    • Physics

      Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub-atomic structures and processes.

    • Medicine and Dentistry

      Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.

    • Telecommunications

      Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.

    • Transportation

      Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.

    Career Video

    Additional videos and more information available on CareerOneStop

    Pay

    • Ohio Annual Salary 102380/yr
    • Typical Salary
    • Ohio Hourly Wage 49.22/hr
    • Typical Hourly Wage

    Ohio Employment Trends

    • Currently Employed 1,880
    • Yearly Projected Openings 130

    Typical Education

    Personality

    Conventional: People interested in this work like activities that include data, detail, and regular routines.They do well at jobs that need:
    • Analytical Thinking
    • Attention to Detail
    • Integrity
    • Dependability
    • Achievement/Effort
    • Initiative

    Tools

    • Desktop calculator
    • Desktop computers
    • Notebook computers
    • Personal computers

    Technology

    • Analytical or scientific software
    • Business intelligence and data analysis software
    • Compliance software
    • Data base user interface and query software
    • Development environment software
    • Electronic mail software
    • Financial analysis software
    • Object or component oriented development software
    • Object oriented data base management software
    • Office suite software
    • Presentation software
    • Process mapping and design software
    • Project management software
    • Spreadsheet software
    • Word processing software

    Tags

    • InDemand occupations are considered a priority by the state of Ohio.

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    Workforce Supply Tool

    Workforce Supply Tool

    The Workforce Supply Tool provides statistics for the occupations in highest demand throughout Ohio.

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