The long-term success of any company depends on its ability to make sound judgements concerning the future. Actuaries analyze information from Federated's vast database. They combine this assessment with other sources of financial and economic information to translate the experience of the past into an outlook for the future. Determining expected future costs directly impacts the Company's financial statements and premium rates. Actuaries also study and analyze various rating systems and develop new or revised rating and statistical plans. They report financial and operating results to Federated's executives and Board of Directors, and to regulatory officials.
Successful actuaries need:
A combination of analytical and business skills
Strong background in math, logic, and problem-solving
Knowledge of current business issues and trends
Sound decision-making skills
Ability to communicate effectively
Federated encourages actuaries to work toward "Associate" and "Fellowship" status. The Company:
Provides study materials, and pays exam fees and the cost of attending exam seminars
Allows up to 25 hours of office study time for each hour of exam time
