Australian and New Zealand Standard Classification of Occupations 1.3

ACTUARIES, MATHEMATICIANS AND STATISTICIANS develop and apply actuarial, mathematical, statistical and quantitative principles and techniques to solve problems in a range of fields such as business and finance, scientific and social research, and engineering.

Econometricians are included in Unit Group 2243 Economists.

Indicative Skill Level:

In Australia and New Zealand:
Most occupations in this unit group have a level of skill commensurate with a bachelor degree or higher qualification. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification (ANZSCO Skill Level 1).

Registration or licensing may be required.

Tasks Include:

defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends;
examining financial projections for general insurance companies, finance companies, government and other organisations;
designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial

markets and other areas;
formulating mathematical models to simulate processes;
applying models to experimental observations, and adjusting and recasting the models;
using numerical analysis methods to develop algorithms and perform computations;
liaising with management and clients to determine the subject or area to be surveyed or examined;
specifying the data to be collected, and the methodology to be used in collection and analysis;
evaluating and describing the reliability and utility of source information;
analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns.

Occupations:

224111 Actuary
224112 Mathematician
224113 Statistician