How to Become an Actuary Online

Are you considering becoming an actuary operating online? If yes, then you should know that due to the nature of this position and growing demand in the financial sector, you can find enough opportunities to become an actuary online.

The demand for an actuary is ever growing as the financial sector is seeking more and more professionals capable of handling tasks like investment, insurance, pensions, and risk management. In short, an actuary’s core job is to make sure the organization deals with all the finances and market risks without any trouble.

Instructions

  • 1

    Get online qualifications

    Check with state colleges and universities that offer online degree programs. In order to become an actuary, you will need to have the necessary education (qualifications). You do not have to obtain a Masters degree in order to get a job, as a Bachelors degree in certain areas will be sufficient for you to start out on your actuary career. Generally, actuary jobs require Bachelors degrees in actuarial science, mathematics and statistics. In addition to these subjects, you can also get an online degree in economics, accounting, or finance. Since the field is all about guarding against financial risks, a degree in finance will be more suitable for you in most cases. In order to excel in your job, a Bachelors degree will not be enough, of course. You can further your education and career by enrolling in a Masters program in the same subjects.

  • 2

    Work as a trainee actuary

    Unless you join a trainee program at an organization, you cannot find a better paying opportunity as a professional actuary. You can start off with an actuarial firm to hone basic skills needed for the position. Working as a trainee at an actuarial firm will add value to your resume as these firms primarily focus on the job, making you prepared to work for larger organizations in the future. There are plenty of actuarial employers out there, offering training in different actuary fields. If you are undergoing a career switch and want to join the field as newbie, you are advised to take some short courses. If you have worked as a trainee actuary at an organization, finding a permanent job will be much easier for you.

  • 3

    Hone your skills in a certain area

    Since actuary is a broad position and entails several types of jobs, you cannot focus on all the aspects and will definitely have to narrow down your options. Some of the areas in which you can specialize include investments, Enterprise Risk Management (ERM), finance, group & health insurance, retirement benefits, individual life & annuities and Chartered Enterprise Risk Analyst (CERA).

Leave a Reply

Your email address will not be published. Required fields are marked *


three + = 12