What is an Actuary?
Actuaries work in the world of risk. They are business professionals who use specialized mathematics and financial theory — in combination with analytical skills and business knowledge — to identify the financial consequences of risk and uncertainty.
Based on their analyses, actuaries estimate the costs of, and design creative ways to reduce the financial impact of, adverse events that may occur.
Becoming an Actuarial Fellow
To achieve the designation of Fellow of the Canadian Institute of Actuaries (FCIA) www.actuaries.ca, successful completion of professional examinations offered through the Society of Actuaries www.soa.org or the Casualty Actuarial Society www.casact.org is required, usually taking several years in total. Additional requirements include relevant professional Canadian work experience and ongoing professional development.
How can an Actuary help me?
Scott Sadler helps financial advisors to enhance a wide variety of their client processes. If you are a financial advisor then Scott can help you grow your business by moving up market, manage case preparation, and enhance credibility by participating in client meetings as an actuarial expert.
Often actuaries are viewed simply as highly skilled mathematicians. More importantly, however, actuaries are comprehensive problem solvers who apply a broad base of knowledge of the economic systems, mathematical models and other techniques to identify, assess, and manage risk.
Ultimately it is the actuary’s knowledge of fundamental principles of insurance and the basic strategies underlying product designs that gives him the ability to help individuals understand policy features enabling more reasoned decision making.