Employment versus Engagement

There are two ways to obtain professional actuarial advice: employ or engage.

Engage

The first option is to engage an actuary from an appropriate consulting firm.

This method is often preferred for short-term business needs or when independence from the business is desired.

To establish an engagement, you will need to work with the consultant on an appropriate engagement letter. This letter sets out the scope of work to be carried out, timeframes for delivery of key milestones, the estimated cost of the actuarial services and other terms and conditions.

Actuarial consultants often have a broad background that allows them to consider a wide range of project.

If you would like to find a consultant to set up an engagement with, please refer to the ‘Search for a consultant’ section.

Employ

An alternative way to obtain actuarial advice is to employ an actuary in your business directly, either permanently or on contract.

Like most professions, more experienced actuaries will be expecting a higher salary and/or benefits. Consider the level of experience that you require for the type of work you have planned.

If you are looking to hire an Appointed Actuary, be mindful that they must be Fellows of the NZSA or an overseas actuarial body and have an appropriate level of experience for the role.

If you are unsure what type, or level of experience that is needed for the work you have planned, contact us for assistance.

You can also advertise actuarial jobs on this website and have these promoted to our members.

NZ Actuaries