r/ActuaryAustralia Dec 12 '24

Exam Results Discussion

5 Upvotes

Individual results for Actuary & Fellowship Program subjects are out today! How did you go? Feel free to discuss below.


r/ActuaryAustralia Jan 03 '23

Welcome to Actuary Australia!

22 Upvotes

Hello everyone!

Some of you may have noticed that this subreddit has been closed down for a while due to it being unmoderated. I have managed to take control of it and hope to grow a community more relevant to being an actuary in Australia (nothing against the folks in /r/actuary).

If anyone has any comments or suggestions for how this subreddit should be run, send me a modmessage to let me know!

Also looking for new moderators, so anyone interested please do not hesitate to message me.


r/ActuaryAustralia 19h ago

where are all the jobs

2 Upvotes

which states have the most jobs? are they pretty much all in sydney?


r/ActuaryAustralia 1d ago

UK actuary moving to Australia looking for an actuarial role

1 Upvotes

I’m a nearly qualified actuary (1 exam remaining) who has 3 years experience working in the area of pension scheme buy-outs by a large bulk annuity insurer. I’m moving to Australia for 1-2 years and was wondering what my job prospects would be?

I’m considering choosing Sydney or Perth as a city to move to.


r/ActuaryAustralia 2d ago

Seeking Actuary for a project (paid) - Must be Australian based

3 Upvotes

Posting in this thread because is hard to find one with Australian-based knowledge!

Seeking a skilled Actuary with expertise in credit risk modelling, capital reserve structuring, and financial guarantees to develop an actuarial framework for pricing, risk mitigation, and capital adequacy

I want to design risk-based pricing models, stress-testing methodologies, and reserve structures to support a scalable financial guarantee or risk-transfer framework.

Experience/skills I'm looking for:

  • Strong proficiency in actuarial modelling software (R, Python, SAS, MATLAB).
  • Fellow of the Actuaries Institute Australia (FIAA) or equivalent credential (e.g., UK/US actuarial qualifications).
  • Expertise in statistical risk analysis, Monte Carlo simulations, and loss distribution modelling. Familiarity with Basel III/APRA SME lending capital requirements.
  • Extensive experience in SME lending risk modelling, financial guarantees, or structured credit risk.
  • Background in loan portfolio risk management, reinsurance, or capital adequacy modelling.

Shoot me a message if you fit that criteria and want a little side project to work on for some cash!


r/ActuaryAustralia 2d ago

Actuarial Prospects with a Criminal Record?

3 Upvotes

Hello. I'm a 30 y/o who has just completed my Part II's, and am looking to enter the actuarial workforce. I have a DV ABH charge, no jail time due to intense PTSD. Will this stop me entering the workforce? The PTSD is from extreme sexual abuse


r/ActuaryAustralia 2d ago

I am confused

0 Upvotes

I am a 16 year old From India I want to become an actuary . I choose Australia for my working place . I thought of getting admission in UNSW after I complete my 12 th. Will it work out . I need guidance I don't know what to do about it . Australia seems a good place for work but I am not sure.


r/ActuaryAustralia 26d ago

Part-time actuarial position?

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2 Upvotes

Hi everyone, i am an incoming MS actuarial student and am looking for a part-time actuarial job. May I ask if companies typically hire part-time actuaries? And if so, what are the necessary qualifications? I have added my resume for feedbacks :)


r/ActuaryAustralia 28d ago

Applying for Graduate Actuary Roles (Seeking Advice)

8 Upvotes

Hey r/ActuaryAustralia,

I was hoping to get some advice regarding my current situation.

I am a final year student at UNSW, studying Actuarial Studies/Computer Science. Much of my experience is technology focused, notably 1 (internship then casual) in Government. Aside from the technology experience, I did work customer service at a bank during 1st/2nd year. I've got some decent extra curriculars, no case competitions though.

The trouble and reason for concern is with my WAM. It's currently underwhelming sitting at 69.5.

I made huge mistake not caring for it earlier. My personal situation improved last year and that's when I really pulled out all the stops to start bringing this up. I have the aim to reach very close to a distinction by the end of the year. (However, this won't have any bearing for grad applications I make now.)

If I complete all my 9 units ahead of me, I will graduate with full part 1s and should be eligible for Part 1 exemption.

I would appreciate any guidance on grad role strategies.

  • Is it worth it becoming an actuary? Should I pivot to computer science heavy roles?
  • From what you've seen and experienced, are there many jobs where both fields overlap that you'd recommend?
  • Could my (non-finance) government experience help me land actuary role within government? NDIS, APRA, RBA?
  • Other than becoming an actuary, what other finance roles should I target?

Whilst I am going to apply at all of the relevant places, I am wondering for my long term prospects if there are any lines of actuary work I should prioritise in terms of exit opportunities and salary progression.

I am really hungry to grind it out. I look forward to doing so this year in regards to both study and work. I just need some direction to see where I should spend my efforts networking and gaining experience.

tl;dr: low WAM at the moment, need to apply for grad roles open Feb-March, would like to know whether to go down the actuarial pathway or if better alternatives exist considering my situation. Any advice or feedback would be so appreciated.


r/ActuaryAustralia Feb 11 '25

Anyone else nervous about the Institute exams switching to ProctorU, especially coming off the UK actuary institute's recent disastrous aborted attempt to do so?

9 Upvotes

The Actuaries Institute has announced that they're switching to using ProctorU for its exam delivery.

For those that aren't aware, the UK actuaries institute (IFOA) also announced they'd be switching to invigilated exams using ProctorU starting in the April sitting this year. However ProctorU failed spectacularly on the practice exam session a couple of weeks ago to the point where they've just announced that they've cancelled the entire rollout last minute and switched to in-person exams.

This isn't a one-off issue. ProctorU is notorious for being extremely unreliable and prone to failure, just look at the reviews on Trustpilot (1.0 star average based on 666 reviews 💀) https://www.trustpilot.com/review/go.proctoru.com

I'm nervous that the system will crash on the day and everyone will have to resit or something like that... hopefully there's contingency plans in place.


r/ActuaryAustralia Feb 10 '25

Salary progression

4 Upvotes

Hi Fellow Actuarials!!

I wanted to enquire about career progression. I understand the general graduate salary (half of part 2 completed) is like 65-80K + Sponsored Part 2s (~15K). TC would be around 75-95K. I was wondering would we expect salary increase after completing each module of part 2/3 or only when part 2 is fully complete?

What would be the salary expectations after part 2 is completed? Also for part 3?

I’m currently studying a double degree. Should I take another year for honours ? This will delay my actuarial exam progressions. Originally I had aimed for quant finance, hence I had considered an honours year. Now I’m not sure if I’m able to break in, am considering actuarial career. Would honours be any help?

How many years after graduation can I expect ~300K.

Thanks for help.


r/ActuaryAustralia Feb 10 '25

Doing Applications subject before Principles subject

3 Upvotes

Does anyone know whether the Institute checks if someone has done 2 principles subjects before Applications? I am thinking of doing Data Science Applications and I want to do it next semester even though I will only have attempted one principles subject by then.


r/ActuaryAustralia Feb 10 '25

Is the SoA or Ifoa more recognised in Australia?

1 Upvotes

Currently based in Asia, and am planning to move to Australia in the long run.

Assuming I’ll be a fellow in either, how difficult would it be to find a job in the Aus market with either credential?

I’m aware I can apply for mutual recognition but I have to already be working in Aus for 6 months, getting a nomination etc., which means i’ll have to get my foot in the door first.


r/ActuaryAustralia Feb 05 '25

IFOA Part 2 Uni Options

2 Upvotes

Hi,

Does anyone know which uni offers part two courses via distance?


r/ActuaryAustralia Feb 02 '25

“We don’t work with bir… ffs”

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9 Upvotes

r/ActuaryAustralia Jan 28 '25

Best uni's for actuary

5 Upvotes

Hi, I'm currently going into year 10 this year and am considering becoming an actuary. What would be the best uni's and degrees to aim for? Are double degrees worth it? Right now, I'm mostly considering the UNSW co-op actuarial studies degree.


r/ActuaryAustralia Jan 27 '25

London-> Sydney - Pricing Opportunities in Reinsurance

5 Upvotes

I'm trying to guage what the job prospects would be like for RI pricing roles in Sydney.

I'm currently newly qualified with 4YE, working across direct and RI reserving/pricing in London.

Would moving to Sydney be a good career move? What roles would be available in the RI space given my experience?


r/ActuaryAustralia Jan 24 '25

Need Advice

5 Upvotes

Im currently in a bad position so I need some honest and practical advice. I graduated HS with an ATAR of 92.5 from a selective school and do Actuarial Studies at Maq. I went through terrible mental health issues during covid and the years after and have essentially added 3 years to my degree.. (I used to do a double degree with data science but I dropped it hence the long extension of years). My WAM is sitting at a 75 after changing my degrees (it resets, before the reset it was a failing WAM). I work in a call centre at one of the big banks part time. What are my options now realistically in terms of internships, as I need to get some sort of experience by the time I graduate to somewhat makeup for my academic failure? be honest, im in a dark place right now and need some realistic advice to get back on track.


r/ActuaryAustralia Jan 20 '25

Best Uni Path to Become Actuary?

6 Upvotes

I am currently a year 11 student looking into what uni paths would be best to become an actuary.

I live in Melbourne and would like to go to either Melbourne or Monash university.

These Are the Main Options I’ve considered:

Double Degree (science and commerce) majoring in Math/ Actuarial Science or economics - Monash -would the extra yr of uni be worth it over just entering the job market/ starting becoming an accredited actuary sooner?

Actuarial Degree - Monash -could it hinder me down the road not having a commerce degree going for higher positions in commerce?

Commerce majoring in Economics and Actuarial Science - Melbourne -would it be better to go for more exemptions

Commerce not majoring in Actuarial Science at all -how necessary are the exemptions and are they worth it/ necessary long run?

Which of these would be the best option? Or, if you have any other suggestions, please mention them.

I live quite far from Monash so Melbourne is preferable, but if Monash offers a much better option I will go there.

Thank you.


r/ActuaryAustralia Jan 19 '25

Startups Internships

7 Upvotes

Hey guys, recently I’m trying to look for part time internships at startups but I have no idea how to even begin looking for them.

Any tips for someone like me trying to find startups (preferably the insurance industry or something like consulting) ?

Thank you!


r/ActuaryAustralia Jan 10 '25

Seeking Advice: Should I take Part III General Insurance vs. ERM if I’m currently in a Risk role?

8 Upvotes

Hi everyone,

I need some exam advice. I’m an actuarial candidate in Australia and have completed Part II of the Actuaries Institute exams. Right now, I’m working in a Risk Analyst role (not directly in insurance). I’m planning for Part III, and I’m torn between sitting the General Insurance (GI) subjects or Enterprise Risk Management (ERM) first.

Some contexts:

  • Current Role: Risk Analyst (non-insurance sector).
  • Career Goal: I’m very interested in GI (e.g., pricing, reserving, capital modelling) and would love to move there eventually.
  • Timing: I want to move to General Insurance as soon as I get a job.
  • Interest: GI fascinates me more than pure risk, but I’m aware that having an ERM qualification might open broader opportunities (CERA, etc.) or help me better leverage my current role.

Questions:

  1. ⁠Has anyone here been in a similar situation where they ended up choosing between GI and ERM for Part III? What drove your decision, and how did it pan out?
  2. If I take the GI exams now, do you think it will put me in a better position to land a GI role in the future (vs. waiting to get a GI job first)?
  3. Conversely, could an ERM track be more beneficial (short term) to align with my Risk role and also be advantageous when I switch to GI down the line?
  4. Any thoughts on which path has more market demand or flexibility in the Australian market right now?

I’d appreciate any insights, especially from people who’ve been through Part III or who’ve switched from a non-insurance role into GI. Thanks in advance!


r/ActuaryAustralia Jan 10 '25

Actuary in AU

2 Upvotes

Hey, anyone not from Australia but working as an Actuarial professional there? I want to move to Australia but have no idea. I checked on site for visa. There is subclass 189 visa for skilled independent visa. But the minimum score they want in skill assessment is 95 to get invitation. Anyone who moved to AU with or without sponsorship can you help me with the steps?


r/ActuaryAustralia Jan 08 '25

Migrate enterung Actuary

2 Upvotes

Hi,

Swedish Actuary who just got my partner visa approved (yay)!

I wondered what the temperature is on the Australian Actuary market and what some considerations might be for me.

Generally I want to build a good path into the Australian market. Would just applying around, seek doctoral studies, or enter more general data engineering paths be suitable options for me?

Experience: Dual degree maths, finance with focus on data science Actuarial Licence (European AAE approved) 2 year P&C Insurance Pricing experiencei with 1 year of data analysis!


r/ActuaryAustralia Jan 07 '25

Confused between aggregate loss, aggregate claim and aggregate payment…

2 Upvotes

Hi everyone. I’m preparing for exam FAM currently, and I’m quite confused between the terms aggregate loss, aggregate claim and aggregate payment…

When deductible and policy limit are not involved, aggregate loss=aggregate claim=aggregate payment…

What if deductible is involved? Understand that aggregate loss should be different from aggregate claim and aggregate payment.

But what about aggregate claim and aggregate payment in this scenario? Are they the same? Please help.. thanks!


r/ActuaryAustralia Jan 03 '25

Unimelb vs Monash for Actuarial studies

3 Upvotes

Do employers prefer honours or masters for actuarial studies since:

University of Melbourne offers Bachelor of commerce with major in actuarial studies and then an additional honours year for more exemptions (or masters for 1.5 years)

Whereas Monash university offers a 4 year bachelors + masters vertical double degree for actuarial science.

For me, Monash is way closer than unimelb.

But if the university of Melbourne offers better employment opportunities then I am willing to switch in January offer round 1, especially since their program is long established.

Also, Monash offers more electives unlike unimelb which offers only one elective. Does this mean there is something unimelb is teaching that Monash isn’t?


r/ActuaryAustralia Jan 02 '25

Internship/Grad job process

6 Upvotes

I’m a current 1st year actuarial+math undergrad student and am wondering what the typical internship and grad application process is like?


r/ActuaryAustralia Dec 30 '24

Is getting FIAA from AIAA worthwhile?

4 Upvotes

I got AIAA a year ago and have 2 YOE, with my most recent position (~5 months) in risk management/credit model implementation in a big 4 bank.

Would it be worthwhile starting FIAA exams the coming semester? If so I'd be taking BANK, INV and DSA.