Some major financial institutions, in particular lenders, employ actuaries to assess the risks of credit products. Actuaries can be used to measure the potential for loss in an investment portfolio, which goes directly into the realm of financial analysis. The short answer is yes, actuaries can work in banks. Finance and investment actuaries work in many areas, including investment management, corporate finance, and banking.
Actuarial exams aren't really recognized anywhere except in insurance, and especially in the IB. In addition, it will be difficult to find work that does anything other than an actuarial job with a degree in actuarial science (which is why people often recommend not doing it). Find banking and financial actuary jobs on the official career site of the Institute and the Faculty of Actuaries. Browse our listings today to see how we can help you find your dream career for a brighter professional future.
We have the latest banking and financial actuary jobs from top employers looking for candidates to fill their positions. Our client is a market-leading life insurance firm with businesses around the world and a strong base in Hong Kong. They are currently hiring a manager. People who have actually graduated in actuarial science rarely tend to work as investment bankers.
For example, some of the major insurance companies now have their own established banking operations, with actuaries holding some of the senior executive finance and risk positions. Insurance companies are increasingly hedging their risks and this has resulted in an increase in the number of investment bank actuaries offering hedging products. The demand for actuaries in the banking field is growing and many are now occupying some of the positions of responsibility in finance and risk. Although generally considered to fall within the competence of the investment banker, actuaries can add value in this area.
Investment banking involves a great deal of risk, which means that an actuary might be suitable for this role. Although most qualified actuaries choose to work in the insurance industry, their skills are highly valued in the investment banking industry. However, while an actuary may have the necessary mathematical capacity and analytical skills, a career in investment banking requires the ability to sell and work as a bridge between clients. A qualified actuary who becomes an investment banker is well prepared to assess the risk associated with mergers and acquisitions or investing in hedge funds.
On the other hand, actuaries are consistently ranked as having some of the best jobs out there because of high pay, good work-life balance, and low levels of stress, so it's debatable whether they would want to give this up for the life of an investment banker. In conclusion, actuaries can work in banks in a variety of functions, such as measuring investment risk, participating in mergers and acquisitions, or creating hedging products. However, the world of investment banking is stressful, so if an actuary would like to leave their high job satisfaction and low stress level to dedicate themselves to the world of investment banking, that's another story.
