Requirements for Skills Assessment This occupation requires a qualification which is assessed as comparable to the educational level an Australian Qualifications Framework (AQF) Bachelor degree or higher*, in a field highly relevant to the nominated occupation. Applicants must also have at least one year of highly relevant, post-qualification employment, at an appropriate skill level completed in the last five years. If the qualification(s) are not at the required educational level, and not in a highly relevant field of study, or if the employment has been completed prior to the qualification, then the applicant will be assessed below the required skill level. * This includes qualifications assessed at AQF Bachelor, Master and Doctoral level. A positive assessment of both qualifications and employment is required for a positive Skills Assessment Outcome. Qualification AQF Bachelor degree or higher* Highly relevant major fields of study include: • Statistics • Business / Financial Statistics • Biostatistics • Mathematical Statistics • Mathematics Statistics is the study of collecting, describing, processing and analysing numerical data. Qualifications in certain fields may be accepted on a case by case basis if the program consists of sufficient subjects in statistics, statistical techniques, linear models, multivariate analysis, experimental design, quantitative research methods, probability estimation, spatial modelling, survey design, time series analysis, distribution theory and applied statistics. Those fields of study include: Business Analytics, Actuarial Studies, Data Science, Computer Science, Economics, Bioinformatics and Epidemiology. |
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Average Income: Average Age: [See: www.abs.gov.au 2241 Actuaries mathematicians and statisticians – Employee Earnings and Hours, Australia, May 2016] |
Designs and applies statistical principles and techniques for collecting, organising and interpreting quantifiable data, and uses statistical methodologies to produce statistical reports and analyses for government, commercial and other purposes.
Skill Level: 1
Specialisations:
Biometrician
Demographer
Epidemiologist
Additional notes:
Biostatistician
Applies statistical principles to topics in biology and biological experiments. The primary function of the role should be applied statistics, as opposed to scientific research.
Finance / Business Analyst
Creates, interprets, analyses and reports on financial and business statistical data. The primary focus of the role should be on outcomes derived from statistical modelling and forecasting rather than market research and accounting activities.
Employment as an Actuary or Econometrician** cannot be considered as highly relevant to this occupation.
**Econometricians fall under the ANZSCO Unit Group 2243 Economists
UNIT GROUP 2241 ACTUARIES, MATHEMATICIANS AND STATISTICIANS
ACTUARIES, MATHEMATICIANS AND STATISTICIANS develop and apply actuarial, mathematical, statistical and quantitative principles and techniques to solve problems in a range of fields such as business and finance, scientific and social research, and engineering.
Econometricians are excluded from this unit group. Econometricians are included in Unit Group 2243 Economists.
Indicative Skill Level:
In Australia and New Zealand:
Most occupations in this unit group have a level of skill commensurate with a bachelor degree or higher qualification. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification (ANZSCO Skill Level 1).
Registration or licensing may be required.
Tasks Include:
- 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
Occupations:
224111 Actuary
224112 Mathematician
224113 Statistician