After being an unemployed for about 4 months, I finally get a job. Now I’m a part of insurance company, as an actuary. I never thought that i would have become an actuary at first place, but here I am now, trying my best to learn every single things about pricing an insurance product, particularly some life protection product.
Unlike any other position, actuary is a kind of peculiar position, not everyone knows about it. I’ve got to explain what’s my job is to almost every person I talked to. And I bet most of you weren’t know about it too. So, let me explain it to you.
Actuary, we can say, is a risk analyst, but they do it by utilizing lots of mathematics and statistics stuffs. Actuary is commonly employed by insurance company to assess the risk faced by the company and to calculate the price of insurance product. However, the job is not confined by insurance company. The fact is that actuary can actually work in every in financial industries, e.g pension fund, employee benefit, and also actuarial consulting. The profession is unique for its method of solving risk problems–method which only can be gained by years of experiences and passing series of examinations.
I might tell you that almost every single profession in the world of financial industry require series of examination, and they also give particular title. For instance, to be an actuary in Indonesia, one must pass 10 examinations with subjects such as financial mathematics, probability, statistics, actuarial mathematics, and some subject about insurance and professionalism. Once they pass all the exams, the Indonesia Society of Actuary will grant them with FSAI title, the title can be put after the last name. Another profession with similar manner is a financial analyst, one have to pass 3 exam–and it takes about 2-4 years to complete the exams, actuary usually takes 5-7 years–to get a CFA title. CFA is for Chartered Financial Analyst. There’s also a title for financial risk managers, but I don’t remember what it is.
So, to be an actuary (one with title) is not easy, it takes every perseverance, commitment, and consistency to learn (I’m telling you the truth, no exaggeration). This is somehow makes me scared since the word ‘learn’ and ‘exam’ itself have a thrilled sensations, ha! So I’m begging you know to wish me luck in my every exam :p
Note : this post is my first written-in-english post. I work so hard to write this one and I hope that this post is still readable. I’m planning to take an english course to improve my writing.