Actuary (ANZSCO 224111)
Updated
What an Actuary does
Analyses mathematical, statistical, demographic, financial or economic data to predict and assess the long-term risk involved in financial decisions and planning. Registration or licensing is required.
Key facts
- ANZSCO code
- 224111
- Skill level
- 1Bachelor degree or higher
- Assessing authority
- VETASSESS
- National shortage
- Shortage
Visa options
Occupation eligibility is one requirement; each visa page links to the rest.
Points-tested
- Subclass 189 Skilled IndependentVia MLTSSLEligible
- Subclass 190 Skilled NominatedVia MLTSSLEligible
- Subclass 491, state or territory nominatedVia MLTSSLEligible
- Subclass 491, family sponsoredVia MLTSSLEligible
Employer-sponsored
Main tasks
- defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
- examining financial projections for general insurance companies, finance companies, government and other organisations
- designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas
- formulating mathematical models to simulate processes
- applying models to experimental observations, and adjusting and recasting the models
- using numerical analysis methods to develop algorithms and perform computations
- liaising with management and clients to determine the subject or area to be surveyed or examined
- specifying the data to be collected, and the methodology to be used in collection and analysis
- evaluating and describing the reliability and utility of source information
- analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns
- data mining and data cleansing to discover trends to extract insight
- building and deploying machine learning frameworks
Shortage by state
- NationalShortage
- ACTShortage
- NSWShortage
- NTNo shortage
- QLDShortage
- SAShortage
- TASShortage
- VICShortage
- WAShortage
State and territory nomination
For the 190 and 491, each state and territory also has its own occupation list.
Common questions
What does an Actuary do?
Analyses mathematical, statistical, demographic, financial or economic data to predict and assess the long-term risk involved in financial decisions and planning. Registration or licensing is required. (ABS ANZSCO description.)
Is Actuary on the skilled occupation list?
Yes. Actuary (ANZSCO 224111) is on the Core Skills Occupation List (CSOL) and Medium and Long-term Strategic Skills List (MLTSSL) (lists in force from 14 December 2024). It is listed for the 186, 189, 190, 482, 491 and 494 visas.
What is the ANZSCO code for Actuary?
224111. Home Affairs uses ANZSCO codes for skilled visas.
How can an Actuary migrate to Australia?
The occupation lists Home Affairs publishes include Actuary for the Subclass 186, Subclass 189, Subclass 190, Subclass 482, Subclass 491 and Subclass 494 visas. Being on a list is one requirement among several; each visa's page links to Home Affairs for the rest.
Who assesses Actuary for an Australian visa?
VETASSESS, the skills assessing authority listed for 224111.
Is Actuary in demand in Australia?
Jobs and Skills Australia rated it "Shortage" nationally in its 2025 Occupation Shortage List, with ratings for each state and territory shown above.