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A Brief Look at Actuarial Consultants

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Definition and Broad Overview Actuarial consultants are professionals who need to have knowledge about a variety of disciplines (for example statistics, economics, law, finance and risk) in order to be able to advise their numerous clients on projects brought to them. They advise clients on methods, regulation, policies, mechanisms and plans which need to be considered when making business decisions. They can work for a firm or independently as a contractor. Numerous areas of expertise are required for consulting actuaries, as they are required to be able to advise many different clients on the many varying problems which are presented to them. Specific Skills and Techniques Required Consulting Actuaries need to possess many skills including some knowledge of tax, law, statistics, model construction, financial forecasting etc. They analyze the current financial climate and make predictions about future conditions so as to make the best recommendations for future financial decisions. Needs to be able to work with and consult colleges and professionals in many different areas for their expertise and knowledge. Consultants also need to possess good personal skills so as to be able to communicate with clients to attract and keep business as well to be able to best understand their clients’ needs to make the best possible recommendations. What is unique to an actuarial consultants approach and skill set compared to other financial advisors is their ability to work cyclically,

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