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Version:
OaSIS 2023 Version 1.0
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21210.03 – Actuaries

Actuaries apply mathematics, statistics, probability and risk theory to assess potential financial impacts of future events.

Overview

Example job titles

  • Actuary
  • Consulting actuary
  • Insurance actuary

Main duties

This group performs some or all of the following duties:

  • Apply mathematical models to forecast and calculate the probable future costs of insurance and pension benefits
  • Design life, health, and property insurance policies, and calculate premiums, contributions and benefits for insurance policies, and pension and superannuation plans
  • May assist investment fund managers in portfolio asset allocation decisions and risk management. They also use these techniques to provide legal evidence on the value of future earnings.

Additional information

  • With experience, actuaries may progress to managerial positions in consulting, insurance and finance. They may also be self-employed.

Similar occupations classified elsewhere

Exclusions:

  • Financial advisors (11102)
  • Financial and investment analysts (11101)
  • Financial auditors and accountants (11100)
  • Financial managers (10010)
  • Insurance, real estate and financial brokerage managers (10020)
  • Other financial officers (11109)

NOC hierarchy breakdown

NOC version

NOC 2021 Version 1.0

Broad occupational category

2 – Natural and applied sciences and related occupations

TEER

1 – Occupations usually require a university degree

Major group

21 – Professional occupations in natural and applied sciences

Sub-major group

212 – Professional occupations in applied sciences (except engineering)

Minor group

2121 – Mathematicians, statisticians, actuaries and data scientists

Unit group

21210 – Mathematicians, statisticians and actuaries

Occupational profile

21210.03 – Actuaries

O*NET in-it

This page includes information from the O*NET 27.2 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA. Employment and Social Development Canada has modified all or some of this information. USDOL/ETA has not approved, endorsed, or tested these modifications.