Actuarial assistant to actuarial consultant
An actuarial assistant already meets 48% of what the actuarial consultant role asks for. The move turns on 7 required skills not yet in the profile.
50.7/ 100
1 How much of what an actuarial consultant is expected to do is already part of an actuarial assistant’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the actuarial consultant role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
An actuarial consultant role treats 7 of its required skills as things an actuarial assistant already does. You would walk in with these on day one.
- actuarial science
- analyse market financial trends
- apply statistical analysis techniques
- obtain financial information
- perform risk analysis
- produce statistical financial records
What stands in the way is 7 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 16 skills that carry over, these are the ones fewest other occupations ask for. An actuarial consultant role needs them, and most people applying for one will not have them already. This is the part of an actuarial assistant background worth leading with.
- already held produce statistical financial records information skills
- already held insurance market business, administration and law
- already held analyse insurance risk information skills
- already held consult credit score information skills
- already held insurance law business, administration and law
- already held principles of insurance business, administration and law
All 16 carried skills, including the 7 the actuarial consultant role treats as required.
Table 3 · What you may need to learn
The 19 missing skills fall into 7 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn provide support in financial calculation required
- still to learn synthesise financial information required
- optional, not held advise on risk management optional
- optional, not held analyse loans optional
- still to learn financial products required
- optional, not held banking activities optional
- optional, not held business loans optional
- optional, not held credit control processes optional
- optional, not held debt systems optional
- optional, not held modern portfolio theory optional
- optional, not held types of pensions optional
- still to learn advise on financial matters required
- optional, not held communicate with banking professionals optional
- optional, not held review investment portfolios optional
- still to learn create a financial plan required
- optional, not held develop investment portfolio optional
- still to learn empirical analysis required
- still to learn quantitative analysis required
1 further area in the appendix
Table 4 · Where to start
The 3 entries an actuarial consultant role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 advise on financial matters practise this
- 02 create a financial plan practise this
- 03 empirical analysis study this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 16 skills that carry over
- already held actuarial science knowledge
- already held analyse market financial trends skill
- already held apply statistical analysis techniques skill
- already held obtain financial information skill
- already held perform risk analysis skill
- already held produce statistical financial records skill
- already held statistics knowledge
- already held analyse financial risk skill
- already held analyse insurance risk skill
- already held consult credit score skill
- already held examine credit ratings skill
- already held insurance law knowledge
- already held insurance market knowledge
- already held principles of insurance knowledge
- already held provide cost benefit analysis reports skill
- already held types of insurance knowledge
The 1 learning area not shown above
- optional, not held Monte Carlo simulation optional
12 supplementary skills, helpful but not required
- optional, not held Monte Carlo simulation optional
- optional, not held advise on risk management optional
- optional, not held analyse loans optional
- optional, not held banking activities optional
- optional, not held business loans optional
- optional, not held communicate with banking professionals optional
- optional, not held credit control processes optional
- optional, not held debt systems optional
- optional, not held develop investment portfolio optional
- optional, not held modern portfolio theory optional
- optional, not held review investment portfolios optional
- optional, not held types of pensions optional
8 held skills the actuarial consultant role does not ask for
- not needed by the target role advise on insurance policies skill
- not needed by the target role calculate insurance rate skill
- not needed by the target role carry out statistical forecasts skill
- not needed by the target role compile statistical data for insurance purposes skill
- not needed by the target role create insurance policies skill
- not needed by the target role financial markets knowledge
- not needed by the target role risk management knowledge
- not needed by the target role statistical analysis system software knowledge
10 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn empirical analysis required
- still to learn financial products required
- still to learn quantitative analysis required
- optional, not held Monte Carlo simulation optional
- optional, not held banking activities optional
- optional, not held business loans optional
- optional, not held credit control processes optional
- optional, not held debt systems optional
- optional, not held modern portfolio theory optional
- optional, not held types of pensions optional
Common questions about this move
Can an actuarial assistant become an actuarial consultant?
Yes, and it is a moderate move. An actuarial assistant already covers 48% of what an actuarial consultant is expected to do: 16 skills carry over, 7 of which the actuarial consultant role treats as required.
What skills does an actuarial assistant need to become an actuarial consultant?
7 required skills are missing, plus 12 optional ones. They fall into 7 areas of the ESCO skill hierarchy, led by information skills. The single most important is advise on financial matters.
How hard is the move from actuarial assistant to actuarial consultant?
Its learning distance is 50.7 out of 100, which is the moderate band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.