Can an actuary work in a bank?

Yes, actuaries can work in banks. In fact, many actuaries do work in banks, as well as in other financial institutions such as insurance companies and investment firms. Actuaries in banks often work in the risk management or financial planning and analysis departments, using their knowledge of mathematics, statistics, and finance to evaluate and manage the risk associated with financial products and investments. They help the bank in decision making by providing insights on how different scenarios will impact the bank’s financial performance. Actuaries in banks also work on pricing and hedging of financial derivatives and on creating financial models to predict future outcomes and for stress testing.