What Does an Investment Actuary Do?
The actuary's career has been described as the "golden collar among gold collars." Because in developed countries, actuaries are not only the core elite of the commercial insurance industry, but also hold important positions in many fields such as financial investment and consulting.
Financial actuary
Right!
- Chinese name
- Financial actuary
- Foreign name
- Financial actuaries
- Nature
- economic
- Metaphor
- Gold collar
- Belong to
- Core Elite in Commercial Insurance
- The actuary's career has been described as the "golden collar among gold collars." Because in developed countries, actuaries are not only the core elite of the commercial insurance industry, but also hold important positions in many fields such as financial investment and consulting.
- So-called
- The path from being an ordinary actuary to an actuary is long and difficult. In the United States, it takes an average of 5-7 years to pass the actuarial exam. Before 1998, China did not have an actuary trained by itself. In 1998, AIA Shanghai Company was the first Chinese actuary. By 2002, China had 10 actuaries and nearly 50 quasi-actuaries.
- The general actuary qualification exam is divided into two parts: the quasi-actuary exam and the actuary exam. According to reports, the North American Actuarial Association currently has nine qualification examination subjects, and the examination time ranges from 3 to 4 hours to 6 hours. The minimum exam subject for the qualification exam also costs $ 100, for a total of about $ 3,000.
- A six-hour exam sounds very "cruel", but the exam is only part of the qualification certification. Candidates must also attend sufficient training organized by the association and write a report. Among them, professional ethics training is a very strict and important part.
- Examination of the actuary's qualification requires a long and lasting effort, and once they have obtained the actuary's qualification, they are often appointed to important positions. The reporter learned from the insurance industry that the average annual salary of local actuaries in China is between 200,000 and 400,000 yuan, and the value of returnees or foreign actuaries is generally above one million yuan or even higher. In Hong Kong, an actuary also earns at least $ 100,000 a year.
- The first FSA cultivated by China's insurance industry is Zhou Weidong of Ping An Insurance Company of China. After 6 years of hard work, he obtained full membership of the North American Actuarial Association in 2002, and is China's 10th FSA.
- Due to the shortage of actuarial talents, among the major life insurance companies, the chief actuary and deputy chief actuary are mostly international actuaries returning from overseas. According to expert forecasts, China will urgently need 5,000 actuaries in the next ten years.