Forecasting the Financial Weather

ACTUARIAL ANALYST
Wealth Management Team, Suncorp Metway

QUALIFICATIONS
BSc (Mathematics, Statistics) 2006
Hons (Statistics) 2007

SALARY RANGE
Minimum $50,000
Maximum $200,000
Average $110,000 p.a. (source: Institute of Actuaries website)

PREDICTING the future might sound an impossible task, but this UQ Science graduate's skills enable him to do just that.

Thanks to his studies in mathematics and statistics, Nick Miller holds the role of an actuarial analyst for one of Australian's leading banks, Suncorp Metway. 

Nick's role is within the wealth management team, which predominantly looks after superannuation and life insurance.

This sphere sees Nick advising Suncorp in relation to financial reporting, budget and profit predictions – essential in the current economic climate.

"As an actuary I get to apply mathematical, statistical, economic and financial analyses, which involves adding risk assessment to longer-term financial contracts in a wide range of practical business problems," he says.

"This is both interesting and challenging as I am involved in work that directly affects strategies and orientation of the company."

Nick's path to becoming an actuary started at the end of his undergraduate Science degree.

"I took the opportunity to be a summer vacation scholar at CSIRO in Sydney, where I did a project on traffic volume analysis," he says.

"This reaffirmed my desire to pursue a career in Mathematics."

Accordingly, Nick decided to extend his studies by completing an honours year in statistics – a move he describes as the "most useful" of his university career.

"It gave me the opportunity to do a full year project in an area of my interest, which was very valuable as it taught me how to handle long-term projects, how to go about scientific research, and what is involved in higher-level study of science."