How to Become an Actuary in Connecticut
- 1). Take challenging coursework. Actuaries need to possess an advanced understanding of mathematics and computer programming, as well as a solid grasp of finance and economic theory. Specifically, you will need to take advanced classes in calculus, statistics and probability, along with classes in finance. Much of your work as an actuary will involve computer modelling, so you will need to develop a deep knowledge of database and spreadsheet management and coding. Some schools offer specific programs in actuarial science. However, no specific degree is required to become an actuary.
- 2). Pass a set of preliminary exams. Generally, you will take these exams during college or soon after graduating. The preliminary exams are the primary entry-level qualification needed to become an actuary. The tests you will need to take cover financial mathematics, probability, financial economics and actuarial modelling. You will also need to take one of two exams on life contingencies. To schedule to take an exam, contact the Society of Actuaries or the Casualty Actuarial Society.
- 3). Obtain your validation by educational experience, or VEE. This will involve you sending your college transcripts in to the Society of Actuaries or Casualty Actuarial Society. Not all subjects crucial to being an actuary are covered in the actuarial exams. The professional organizations listed above will examine your transcripts, and if appropriate, grant validation in economics, applied statistics and corporate finance.
- 4). Market yourself to Connecticut employers. As an entry-level actuary, you can work in any of Connecticut's many insurance companies. Alternatively, you can work as an actuary for any pension plan sponsor, assisting plan sponsors in projecting future plan liabilities. Federal laws require qualified pension plans to consult an actuary when designing their plans. You can market yourself by attending Society of Actuaries or Casualty Actuarial Society events and meeting people already in the profession, by attending job fairs or by visiting insurance company and plan sponsor home offices and speaking with the human resources or actuarial department managers.
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