According to the U.S. Bureau of Labor Statistics, Actuary positions are at a 24% growth rate, which is much faster than average. With that said, there are currently 27,700 jobs in the market right now. The total number of jobs is expected to increase by 6,800
to 34,500 in the period of 2020-30.
What’s more, the median annual wage for the Actuary jobs was $111,030 in May 2020. The lowest 10% earned less than $66,030, and the highest 10% more than $196,010.
Our conclusion? The Actuary job market is wide open for candidates.
Top actuary sections that make the best resume
- Professional summary
- Experience (with numbers and results)
- Relevant skills
Writing a strong Actuary experience section
Actuary resume experience section: ultimate checklist
- Use no more than 4-6 bullet points per position;
- List relevant positions and situations that add value to your application;
- Describe situations, tasks, actions, and results (the S-T-A-R method);
- Remember to include numbers in whatever form you like (e.g. the number of projects you’ve finished);
- Begin each bullet point with an action verb.
Check out the examples below when building your experience section. They will help you stand out!
Extensive use of Excel, writing complex VBA software to clean and manipulate data.
Validated data for over 400 contracts that made up their $420M Aquilo Fund.
Produced forecast profit distribution for use by CEO in investor pitches.
Structured a bepoke lapse risk reinsurance cover for a major UK Life Insurance company
Led the financial modelling of the solution the projected cashflows and financial metrics of the transaction
Assessed the sensitivity and robustness of the structure by designing and implementing stress-test scenarios
Designed the management process of the transaction
Consultant in Actuarial Services
IFRS standards : Financial impact assessment of IFRS 17 standard on both participating and non-participating contracts
Modeling/ALM : Implementation of a MTP (P&L and Balance sheet projection over 5 years) on health/protection/life savings/retirement scope for a provident institution
Audit : Review of French GAAP and US GAAP technical reserves of insurance/reinsurance companies
Working with product owners and analysts to map and improve recurring analytics processes, including tariff revisions, KPI prognoses, and Solvency II estimates
Part of the internal advanced analytics virtual team, working across business areas to educate, inspire, and support trial initiatives in Machine Learning and Artificial Intelligence in all parts of the insurance value chain
Evangelizing the use of open source in core insurance analytics processes: R, Shiny, Python, TensorFlow, Prophet
Senior P&C Actuary
International P&C Reserving (incl. set of Group Actuarial Guidelines)
Responsible of Solvency II P&C Technical Provisions reporting (Pillar III)
M&A (Strategy and Actuarial workstreams)
Actuary / L&H Business Management EMEA
EVM production New/Renewal business EMEA and Latin America. Main EVM contact for ALHM, SRI and IptiQ.
Modelling experience for Spain and Portugal: 2 death businesses has been moved from the loss ratio model to a proper Moses projection.
Iberia market owner: quarterly US GAAP and STAT evaluation.
Actuarial Analyst / Life Actuarial department
Migration of the Life portfolio on a new software: actuarial formulas and testing.
Profit Testing for developing new products.
Reports development using Power Pivot.
L&H Pricing Actuary
Bode - Jones
Various Finance and Actuarial Roles
Head of Finance Transformation
Senior Manager, Planning & Actuarial Services
Actuary, Strategy & Planning
Benefits calculations of retirements, terminations, deaths and marriages breakdown's for Irish Pension Plans;
Issuing benefits statements;
Constant communication with Dublin’s team;
Training and support of new colleagues;
Keep up to date the calculation tools and the training documents.
Benefits calculations for retirements, terminations and deaths;
Production of annual statements;
Continuous communication with clients and plan members.
Benefits calculations for retirements, terminations, deaths and marriages breakdown;
Production of annual statements;
Production of the year end data collection files in order to update the database;
Pension adjustment calculation;
Production of data files for audits;
Continuous communication with clients and plan members;
Testing changes made on the informatics tools;
Production of data files for the actuarial valuations; etc.
Senior Pricing Actuary for South Europe
Epic Adventure Inc
Lead pricing and risk activity for Spain, Italy, Turkey, Greece & Belgium
Countries and product P&L monitoring
Team management (2 FTEs multiple locations)
Non-Life Reserving Actuary
McClure, Leuschke and Balistreri
Carried out the quarterly closing and annual analysis of the American portfolio, for various lines of business, mainly focused on: credit & surety, workers' compensation
Analyzed SCOR's homebuilders portfolio in order to improve the reserving methodology for this line of business, in collaboration with the underwriter and the cedants
Participated in working groups on various topics involving reserving actuaries (e.g. Credit & Surety, Communication)
Performed the pricing of some treaties during the renewal for the Middle East market
Led the Standard Formula calculation for SCOR Group and its entities under the Solvency II regulation
Participated to the testing for the industrialization of the Standard Formula (VEGA® tool)
Validated the Economic Scenarios Generator and the Asset model of SCOR's Internal Model
Coordinated various regulatory stress tests exercises (ACPR stress tests, EIOPA stress tests)
Presented the SCOR Campus for clients: impact of reinsurance programs on the solvency of an insurance company
Capital Reporting Actuary
Developed new pricing models for new business (NB) deals
IFRS 17 model development
Validation of Internal Model changes (Solvency II)
Validation of capital reporting impacts and projections
Validation of NB aquisitions (pricing)
Improvements in modelling approaches for pricing NB
Member of the Technical Sub-Commitee (TSC)
Senior Actuarial Consultant (Fixed Term)
Jaskolski, Waelchi and Yundt
Developing & Improving risk-based capital models under the local regulatory standards (such as Solvency II)
Developing IFRS17 models for EMEA/AP clients
Asset-Liability Model (ALM) development
Senior Actuarial Analyst
Designed, developed and supported the work for the completion of the ReAssure Group Partial Internal Model (PIM)
Focused on all Market, Credit, and Operational risks
Developed and implemented the Solvency II data quality standards
Developed and implemented the validation model for the Matching Adjustment under Stress
MATLAB Economic Capital Model Validation
Member of the Expert Judgment (EJ) Panel
DuBuque, Conroy and Durgan
Took ownership and further developed the following Life & GI market risks for the NFU Mutual Solvency II Partial Internal Model: Credit Spread Risk, Inflation Risk, and Counterparty Credit Risk
Took ownership of the life cost of guarantees closed form (Prophet) model used in the calculation of the component, independent, and combined stresses for Solvency II
Took ownership and further developed the Matching Adjustment under stress model for the Solvency II independent and combined stresses
Process improvements as it pertains to our internal model (Life) for operational risk mitigation
Developed and implemented the market risk EWI's for the Solvency II pillar II ORSA
Calibration and production of B&H ESG base outputs and stresses for Solvency I and II
Scenario and stress testing analysis for Solvency I and II
Monthly and quarterly valuations (Prophet)
Credit risk modelling and analysis (MCCSR and Solvency II basis)
Experience and expense investigations
In writing your Actuary resume, you will no doubt want to list your previous duties - as you should. But steer clear of just listing your duties, instead of your achievements. Make your resume stand out by communicating what you have done, and not merely what the job needed you to do.
Action verbs for your actuary resume
Instead of simply mentioning your tasks, share what you have done in your previous positions by using action verbs. For example, instead of saying “Client communication”, go for “Communicated with X number of clients weekly”. Use these power words and make your application shine!
Writing a strong skills section for your actuary resume
Checklist for your Actuary skills section:
- Include all relevant skills from the job description to pass ATS;
- Focus on skills that show your expertise;
- List your technical skills in a clear and concise manner;
- Leave room for transferable skills related to teamwork, communication, negotiation, and conflict management.
Top skills for your actuary resume
Planning and organisation
Attention to detail
Avoid getting sidetracked by Applicant tracking software by including a tech skills' section matching the job description and your own qualifications.
Checklist for your actuary resume header
- Your name and surname in a legible and larger resume font
- The job title you’re applying for or your current job title as a subheading to your name
- Link to your portfolio or online profile, such as LinkedIn
- Address (City and State for the US; just your city for rest of the world)
- Email address
- Headshot (required or welcomed in the EU; not required and sometimes frowned upon in the US)
Stick to popular email providers such as Gmail or Outlook. And use these professional formats to create your username:
Some companies, states, and countries have non-discrimination policies about what kind of information can be included on your Actuary resume. This might include a photo (which is often included in a resume header and might be on personal web pages you link to). You can always email the company’s HR department to ask about their policies before you apply.
The ideal summary for your actuary resume
Mastering the summary section: checklist
- Mention the total years of experience you have in the field;
- Focus on 2 to 3 of your top achievements;
- Highlight the things that make you the best fit for the position;
- Go for short, easy-to-read sentences to keep the recruiter’s attention.
Resume Summary Formula:
[Adjective] [job title] with [number] years of experience in [industry], a proven ability to [relevant, measurable skills], and a strong background in [relevant context of your work experience] seeks a position as [the job title you’re applying for].
You’re not going to get hired simply because of a good summary or objective. However, your recruiter can bump you up in front of similarly experienced candidates who didn’t demonstrate such passion and drive.
Things to include in your actuary resume education section
Actuary resume education section checklist:
- Mention your highest education degree;
- Add the duration of your course and the institution you attended;
- List the awards you’ve received during your studies;
- Feature your certifications if they are relevant to the position;
- Entry-level positions: Share more about projects and classes.
Top Certifications for your Actuary resume
This course, along with Part 2, provide the necessary skills and knowledge to pass SOA Exam P and CAS Exam 1
The course that provides a practical overview of the day to day work of an actuary in an insurance environment.
This course, along with Part 1, provide the necessary skills and knowledge to pass SOA Exam P and CAS Exam 1
There are dozens of certifications that you can claim as a Actuary. But, some are more effective than others. That’s why you mustn’t include every certificate other applicants might have. Try instead to earn and list a few of the difficult ones.
Formatting your actuary resume
What’s worse than a .docx resume? A resume with a poorly chosen format.
In general, there are three basic resume formats we advise you to stick with:
Choosing between them is easy when you’re aware of your applicant profile – it depends on your years of experience, the position you’re applying for, and whether you’re looking for an industry change or not.
The reverse-chronological resume format is just that – all your relevant jobs in reverse-chronological order. It’s great for applicants with lots of experience, no career gaps, and little desire for creativity.
When working with less experienced applicants, we suggest the functional skills-based resume format. It’s great for recent graduates or people with large career gaps. Functional skills-based resumes focus on your personality, the skills you have, your interests, and your education. Ultimately, the idea is to show you’re the perfect fit without putting too much emphasis on your work experience (or lack thereof).
If you’re in the middle or are generally looking to make your resume feel more modern and personal, go for the combination or hybrid resume format. It offers the best of both worlds by combining sections focused on experience and work-related skills and at the same time keeping space for projects, awards, certifications, or even creative sections like ‘my typical day’ and ‘my words to live by’.
Actuary Resume Formatting Checklist
To take it a step further, check out how your resume can stand out without leaning too much on the creative side.
Sometimes you’ll want to go after a job which requires more experience than you have. Instead of using a typical Actuary resume layout, you can use a creative layout. Getting noticed is the most important challenge and a creative resume layout might help you get invited for an interview as most of other accountants have boring resume designs.
Additional sections for your actuary resume
In some cases, especially when it comes to entry-level positions, adding more sections beyond the usual ‘experience’, ‘skills’, and ‘education’ works well in your favor. Such additional sections will help you paint a fuller picture of who you are in the recruiter’s head.
Here’s a list of fun yet informative additional sections for your resume:
Making your actuary resume creative
We know too well that recruiters go through tons of resumes every day. The worse part is, they often need to hire people for different positions and teams. So how do you make yourself stand out in such cases?
By adding a dash of creativity to your Actuary resume. It can be in the form of a colorful layout, a section describing your typical day, or even a picture of your favorite book – you decide!
Just make sure that the levels of creativity match the industry, company, and position you’re applying for.
What makes a great actuary resume: key takeaways
- Choose a resume layout that sends the right message across and fits your current career situation;
- Create a resume header that shows your desired job title, and easy to find contact numbers;
- Be specific about your experience, accomplishments and future goals in your summary;
- Feature detailed metrics and specific examples that show the impact you made in your previous roles when describing your experience;
- List soft skills backed by examples;
- Add all of your technical skills and certifications that you have and match the job description;
- Show off a dash of personality in your resume that will demonstrate your culture fit and the right mix of hard and soft skills.
Actuary resume examples
Explore additional actuary resume samples and guides and see what works for your level of experience or role.
Entry Level Actuary
An Entry Level Actuary position requires a strong grasp of statistics and math. Highlight your background in related fields such as actuarial science, finance, or statistics. Mention your proficiency in relevant software like SAS, Python, Excel, R, or SQL, but don't just list them; describe how you've used these tools to solve problems or perform analyses. Also, if you've taken or are making progress towards actuarial exams, it's advantageous to include this, as these exams are important in the field. Lastly, provide examples of how your problem-solving and critical thinking skills have helped you manage math or financial challenges.
An Actuary Internship could be your initial step into the actuarial world, allowing you to apply academic knowledge in a real-world context. Your application should highlight relevant coursework and projects from your academic background in mathematics, statistics, and finance. Make sure to include proficiency in software tools like Excel, PowerPoint, R, Python, or SQL by providing examples of their application in your school projects or work. Rather than just listing your skills, narrate how they were instrumental in delivering results. Show your dedication to the field by sharing your participation in related clubs and special roles you held. Also, emphasize your willingness to learn and grow within the team, referencing incidents from your life to underscore your adaptability and quick learning abilities.
View Actuary Internship Resume
As an Experienced Actuary, your role influences financial and insurance industries, affected by financial algorithms, risk management theories, and regulatory changes. To excel, you'll need expertise in statistics, financial math, and risk theories, using these to create economic forecasts, simulations, and financial models. Companies often rely on your advice when formulating risk management policies. When applying for a position, emphasize these skills and your experiences. Make sure your financial background is prominent, particularly if you've worked in finance or insurance, as this can influence a company's risk policies. Don't just list skills, but demonstrate how you've used them to manage risks or secure financial stability for previous employers. You could specify how you've 'mitigated financial risks' or 'facilitated profits', and follow the 'skill, action, results' formula for best results.
The Pension Actuary job emerged from the need for strong financial and risk management in retirement and pension plans. If you're applying for this role, it's important to have experience in managing pension and retirement benefits. It's also helpful to be comfortable with actuarial math models, know pension-related guidelines like PBGC and ERISA laws, and understand how they influence pension actuarial work. Highlighting these skills can make your resume stand out. Also, you should emphasize your understanding of financial math that impacts pension plans. Showcase your financial math skills by explaining their role in successful pension schemes you've supervised. Rather than listing skills, show how they helped you give effective actuarial advice or set up successful retirement schemes, following the 'skill, action, results' pattern.