Hot Job: Actuaries

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August 24, 2011

Hot Job: Actuaries

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Adam Ceteznik is actuarial director of Regence BlueShield.

The job: Most actuaries work for insurance companies, using their knowledge of statistics, finance and business to estimate the probability and likely cost to the company of an event such as death, sickness, injury, disability or loss of property. Some actuaries help companies decide how to maximize return on investments or help people determine how to invest to attain a certain income level during retirement.

A Seattleite at work: Regence BlueShield actuarial director Adam Ceteznik, who majored in math in college, says one of the best parts of his job is the challenge of solving complex problems by taking information and predicting possible scenarios and outcomes. “With their in-depth financial knowledge, actuaries often have the opportunity to play a major role in setting a company’s strategic direction,” Ceteznik says. “And there are ongoing opportunities to develop professional and to advance into leadership roles within a company.”

Outlook: Employment of actuaries is expected to increase by 21 percent over the 2008-18 decade, much faster than average for all occupations.

Pay: The 380 actuaries in the Seattle-Bellevue-Tacoma area earned a median wage of $90,020 in 2009.

Training: Actuaries need a strong background in math, statistics and business. They generally have a bachelor’s degree and are required to pass a series of exams to become certified professionals. Ceteznik says the credentialing process is challenging. “It really takes dedication to pass the rigorous exam program, which can take on average about eight years,” he says.

Sources: U.S. Bureau of Labor Statistics, NWjobs staff

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