Your path to an actuarial career in Germany
For most actuaries, the study of mathematics is the starting point for their future work. However, the profession also offers good career opportunities for graduates from fields such as physics, statistics, economics or computer science.
The majority of university graduates complete the mostly three-year actuarial training with the German Actuarial Association while working part-time at the beginning of their professional career. This was fundamentally reformed two years ago. The aim of the current examination regulations is to prepare future actuaries for the changed working environment resulting from Solvency II, increasing digitalisation and the extended requirements for risk management. In addition, the two-tier system now in place will further enhance international comparability and the practical relevance of the training and simplify the international recognition of the German title.
The new DAV examination system is divided into two levels: six subjects in basic knowledge and four subjects in specialised knowledge. The new "6+4"-system offers training participants a wider range of subjects and the possibility of more intensive specialization in one subject area while the number of examinations remains the same.
Source: German Association of Actuaries (DAV)
The basic knowledge is imparted in the form of tools that prospective actuaries need for their future professional practice. This includes substantial knowledge of actuarial and financial mathematics, risk management, and the economic and legal environment. In addition, particularly important soft skills are also taught in the subjects of professionalism and communication. In the subsequent special knowledge, the candidates focus on one of the traditional fields of building society savings, life insurance, health insurance, property insurance or pension or deepen one of the cross-cutting topics of financial mathematics, Enterprise Risk Management (ERM) or Actuarial Data Science. After passing all exams and proof of three years of professional experience, the DAV awards the title "Actuary DAV".
You can find all details on the training offered by the German Association of Actuaries on the German website www.aktuar.de/aktuar-werden.