Actuaries are responsible for evaluating and managing financial risks. They analyse data and use their expertise to assess the risk of an event occurring and its possible financial implications. The information can then be used to inform business decisions. Actuaries can be found in banking, finance, investment, insurance and pensions.
Assessing risk is also important element of insurance, investments and pensions. The specialised role of an actuary is fundamental to assessing insurance policies and risk eg. health, crime, weather etc. The insurance sector assesses and evaluates potential risks to create insurance policies and pay out for damages and loss. Life assurance and pensions are the largest insurance markets in the UK.