Actuaries apply mathematical and statistical methods to assess risk in insurance, financial organizations, and other organizations. They are the professionals that would, for example, help an insurance company assess the financial risk associated with offering someone a policy, in order to appropriately price the policy.
Becoming an actuary is by no means an easy feat. Entry-level actuaries are required to have a bachelor’s degree in an analytical field such as math, statistics, or actuarial science. Furthermore, once you begin working in the industry, you are expected to continually train, take further courses, and get and maintain actuarial certifications or licenses; all while gaining professional experience. We should note that the certifications and licenses you get will depend on your area of focus, so specification on your interests is important for you to progress and grow in the industry.
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Getting a job as an actuarial analyst (also known as an actuarial associate) is a great entry point into the actuarial field. Actuarial analysts analyze and manage the financial risks of a company. Many actuarial analysts are not yet accredited actuaries and so will generally work with, or for, accredited actuaries to calculate and offer financial solutions to risk. This is a competitive field, so a strong educational background will also be advantageous.
This resume does a great job of highlighting the applicant's educational background and does an even better job of highlighting their wide range of skills and the value their work has brought to their employers.
Because actuaries are central in helping maintain the financial health of a company, it is important to give specific figures that illustrate how much money and resources your work has saved the company. Your successes will impress recruiters and will help them easily quantify the value you bring to their company.
Many applicants in this position have not yet become certified, so listing any and all your certifications is a sure way to elevate you above the competition.
An actuarial manager needs to have all the skills and experience of an actuarial analyst as well as managerial skills. They will generally be managing a team of actuaries and ensuring they meet all targets and expectations. They will also need strong communication skills to manage their team well, and communicate with their superiors on behalf of their team.
This resume does a good job of emphasizing actuarial experience and communication skills.
Showing career progression is a good way to signal to recruiters that not only do you excel in each position you work in, but that you have experience in all the positions of the people you will now manage, and can therefore manage them effectively.
As the representative of the actuarial team, you need to have strong communication skills with clients. So if you know any extra languages or can show communication successes, be sure to list them.
Whereas an actuarial manager may manage a team of actuaries, a chief actuarial/risk officer will manage the entire department. As such a lot of their focus will be on managing the department as opposed to doing the actual analytical work themselves. They will also serve as advisors to the executives of the company and will give presentations and summaries of the department's work.
Employers will be looking for resumes that highlight an applicant's ability to supervise and manage a team as well as coordinate and produce results for large projects.
Show recruiters that you have individually had marked successes for your company as well as led a team to quantifiable success and saved your company money in the process.
Your employers are looking for someone who can manage a team well. Using words like 'supervised' and 'managed' will highlight your managerial experience. Be sure to be as specific as possible. Instead of saying you managed a team of 10 people, tell recruiters about a specific occasion where you managed your team of 10 on a project that had specific positive results.
Like an actuarial analyst, senior actuarial analysts will analyze and assess financial risk for a company. For this senior position, you will most likely be expected to have certification or a license and will need to show your experience in the field. You may also have actuarial analysts working under you, so highlighting your managerial and leadership skills will be a huge plus.
This resume is effective in highlighting the applicant's ability to manage a team as well as listing all the tools they are experienced in using.
To put you above the rest, ensure that you highlight all certification and educational courses you have completed especially after your bachelor’s degree. This industry insists on continual education throughout your career so an emphasis on this will show resolve to perform well in the industry.
For such a technical profession, listing the tools and techniques you are experienced with is an easy and efficient way to show a recruiter your capabilities. An extensive list will quickly point to your level of experience and knowledge in the industry and will put you at an advantage over the less experienced and less trained.
We spoke with hiring managers at top actuarial firms like Mercer, Willis Towers Watson, and Milliman to get their insights on what makes a strong actuarial science resume. Based on their feedback and our expertise, we've compiled the following tips to help you create a resume that will stand out to employers in this competitive field.
Actuarial exams are a crucial component of advancing in this field. Employers want to see your progress and commitment to completing them.
If you haven't passed any exams yet, show your initiative:
A resume summary for an actuarial science position is optional, but it can be a valuable addition if you want to provide context or highlight details that may not be immediately apparent from the rest of your resume. As an actuarial science professional, your summary should focus on your technical skills, industry experience, and key accomplishments. Remember, an objective statement is outdated and should never be used.
When crafting your summary, be objective and use metrics to showcase your qualifications. Incorporating relevant keywords and mentioning your target job title can also help your resume perform better with applicant tracking systems (ATS). Keep your summary concise, ideally no more than one paragraph, and avoid directly mentioning soft skills or using corporate buzzwords like "proven track record."
The work experience section is the heart of your resume. It's where you highlight your professional achievements and show hiring managers how you can contribute to their organization. When writing this section for an actuarial science resume, focus on showcasing your technical skills, problem-solving abilities, and industry-specific knowledge.
The education section of your actuarial science resume is critical, as employers want to see that you have the right academic background for the role. Here are some key tips to make sure your education section stands out:
Strong action verbs tell a recruiter your role in a specific accomplishment. Actuarial science resumes should use action verbs that are relevant to analyzing risk and creating workable models. Action verbs like "Constructed", "Analyzed" or “Optimised" are strong action verbs that effectively showcase actuary skill sets.
For a full list of effective resume action verbs, visit Resume Action Verbs.
When writing your resume for an actuarial position, remember that this is a very technical and analytical field. As such, you will want to list skills that show your analytical capabilities as well as skills that are industry standards.
Tailoring your resume to the actuarial position you’re applying for will also help you get through automated screenings such as the applicant tracking system (ATS), which scans resumes for keywords related to the job.
Add these skills to the Skills section on your resume to make your resume stand out.
You can include the above skills in a dedicated Skills section on your resume, or weave them in your experience. Here's how you might create your dedicated skills section:
This word cloud highlights the important keywords that appear on Actuarial Science job descriptions and resumes. The bigger the word, the more frequently it appears on job postings, and the more 'important' it is.
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