An actuary is a business professional with advanced statistical skills who deals with the measurement and management of risk and uncertainty. The name of the corresponding field is actuarial science. These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms.
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty.
The International Actuarial Association (IAA) is a worldwide association of local professional actuarial associations.
The Society of Actuaries (SOA) is a global professional organization for actuaries. It was founded in 1949 as the merger of two major actuarial organizations in the United States: the Actuarial Society of America and the American Institute of Actuaries. It is a full member organization of the International Actuarial Association.
The Casualty Actuarial Society (CAS) is a professional society of actuaries specializing in property and casualty insurance.
The Canadian Institute of Actuaries (CIA) is the national organization of the actuarial profession in Canada. It was incorporated March 18, 1965. The FCIA designation stands for Fellow of the Canadian Institute of Actuaries. As the national organization of the Canadian actuarial profession, the CIA serves the public through the provision by the profession of actuarial services and advice by: representing the Canadian actuarial profession in the formulation of public policy; promoting the advancement of actuarial science; educating and qualifying CIA members; ensuring that actuarial services provided by its members meet accepted professional standards; and assisting actuaries in Canada in the discharge of their professional responsibilities.
Enterprise risk management (ERM) in business includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives. ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organization's objectives, assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring process. By identifying and proactively addressing risks and opportunities, business enterprises protect and create value for their stakeholders, including owners, employees, customers, regulators, and society overall.
The following outline is provided as an overview of and topical guide to actuarial science:
Karen Keskulla Uhlenbeck is an American mathematician and one of the founders of modern geometric analysis. She is a professor emeritus of mathematics at the University of Texas at Austin, where she held the Sid W. Richardson Foundation Regents Chair. She is currently a distinguished visiting professor at the Institute for Advanced Study and a visiting senior research scholar at Princeton University.
The Czech Society of Actuaries is the association of actuaries in Czechia. It aims to promote education and research in actuarial science and to mediate social and professional contacts among actuaries.
Mary Fanett Wheeler is an American mathematician. She is known for her work on numerical methods for partial differential equations, including domain decomposition methods.
Philip Booth is a British economist. He is Dean of the Faculty of Education, Humanities and Social Sciences at St Mary's University, Twickenham, and Senior Academic Fellow at the Institute of Economic Affairs. His primary areas of research and writing are social insurance, financial regulation and Catholic social teaching.
William Wager Cooper was an American operations researcher, known as a father of management science and as "Mr. Linear Programming". He was the founding president of The Institute of Management Sciences, founding editor-in-chief of Auditing: A Journal of Practice and Theory, a founding faculty member of the Graduate School of Industrial Administration at the Carnegie Institute of Technology, founding dean of the School of Urban and Public Affairs at CMU, the former Arthur Lowes Dickinson Professor of Accounting at Harvard University, and the Foster Parker Professor Emeritus of Management, Finance and Accounting at the University of Texas at Austin.
Rogemar Sombong Mamon, is a Canadian mathematician, quant, and academic. He is a co-editor of the IMA Journal of Management Mathematics published by Oxford University Press since 2009.
Christian Genest is a professor in the Department of Mathematics and Statistics at McGill University, where he holds a Canada Research Chair. He is the author of numerous research papers in multivariate analysis, nonparametric statistics, extreme-value theory, and multiple-criteria decision analysis.
Therese Michele "Terri" Vaughan is an American insurance academic, regulator, and advisor. She was insurance commissioner of the state of Iowa for 10 years from 1994 to 2005, and was the CEO of the National Association of Insurance Commissioners (NAIC) for four years from February 2009 to December 2012. She is currently executive in residence at Drake University, having previously been its Robb B. Kelley distinguished professor of insurance and actuarial science, Dean of its College of Business and Public Administration, and director of its Insurance Center.
William Joseph Graham was an American insurance executive, who was Vice President of The Equitable Life Assurance Society of the United States. He is known as "father of group insurance," and as past-president of the American Management Association.
Mary Elinore Thompson is a Canadian statistician. She is Distinguished Professor Emerita of Statistics and Actuarial Science at the University of Waterloo, the former president of the Statistical Society of Canada, and the founding scientific director of the Canadian Statistical Sciences Institute. Her research interests include survey methodology and statistical sampling; she is also known for her work applying statistics to guide tobacco control policy.
Mary Rosalyn Hardy is a professor of actuarial science at the University of Waterloo (Canada). She pioneered, together with Julia Wirch, the development and application of the conditional tail expectation (CTE).
Edmund Ernest Cammack FAIA FCAS was an English actuary who was an early figure in the Aetna Life Insurance company and a founder member of the Casualty Actuarial Society of America.
