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Actuarist

Banking & Finance

  • Average salary

    RM3511 - RM 7005

  • Career Trends

  • Compatibility

What is Actuarist?

An Actuary usually works in an insurance company. He analyzes statistical data, such as death, accident, disease, paralysis and retirement rates, as well as making probability tables to predict the risks and obligations of payment of his company's clients, for the benefit of his company in the future. An actuary can ensure the level of insurance needed and the money supply needed, to ensure client payments from the company's future benefits.

Minimum education level

 

PT3

SPM

STPM

Diploma

Degree

Average salary

RM3511 - RM 7005

Example of a Job Position

Actuarial Analyst
Actuarial Assistant
Actuarial Partners
Actuarial Consultant
Health Actuarial Prices Analyst
Product Development

Task

Interviewing clients about their income and expenses, which can be tax deductible
Take advantage of various arrangements, deductions and appropriate credit to minimize the amount of client tax
Prepare, or help prepare, income tax forms for individuals or companies, both complex and simple income taxes
Calculate taxes payable or overpaid using a computer or other calculating tool, and complete entries on the form, based on tax form instructions and tax tables
Providing sufficient information and advice to taxpayers, to ensure their tax payment forms are properly and correctly equipped

Knowledge

Communication and Media

Knowledge of media production, communication, and techniques and methods of dissemination. Includes alternative ways to inform and entertain through writing, verbal, and visual media.

Mathematics

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

Administration and Management

Knowledge of business and management principles including strategic planning, resource allocation, human resource modeling, leadership techniques, production methods, and coordination between people and resources.

Law and Governance

Knowledge of laws, legal rules, court procedures, precedents, government regulations, executive orders, institutional rules, and democratic political processes.

Economics and Accounting

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

Skills

Complex Problem Solving

Identify complex problems and review related information in order to develop and evaluate options and solutions that can be applied.

Critical Thinking

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to the problems handled

Consideration and Decision Making

Consider the shortcomings and advantages of potential action choices to choose the most appropriate action.

Reading Understanding

Understand sentences and paragraphs written in work documents.

Mathematics

Use mathematics to solve problems

Capability

  • 1

    Oral Expression - The ability to communicate information and ideas when speaking, so that others can understand what is being conveyed

  • 2

    Deductive Reasoning - The ability to apply general rules to certain problems in order to produce reasonable answers.

  • 3

    Inductive Reasoning - The ability to combine pieces of information to form general rules and conclusions (including finding relationships between seemingly unconnected events).

  • 4

    Oral Understanding - The ability to listen and understand information and ideas conveyed through words and oral sentences

  • 5

    Mathematical Reasoning - The ability to choose the right mathematical methods and formulas to solve problems.

Related Courses/Majors