Actuaries are employed across Financial Institutions, credit rating agencies, Investment and Wealth management companies and academic institutions.
Traditionally, Actuaries are more into Insurance and re-insurance company employment where they also play statutory roles in the name of Appointed Actuaries.
All Life, General and Health insurers belong to this category.
Insurance Regulatory and Development Authoriy of India (IRDAI), the insurance regulator of India also employs actuarial resources. Other countries like UK, a Government Actuarial Department (GAD) also functions. There are many academic institutions which employs actuaries as faculty members as well.
India is an off-shoring actuarial hub which undertakes outsourced actuarial work from all over the world. Pension fund valuations is one of the prominent outsourced job with high end technical jobs in life and general insurance.
In India, there are many actuaries doing consultancy job in Employee and Group benefit valuations from companies.
Enterprise Risk Management is a core area of work for all companies for which Actuaries are experts.
For any company, irrespective of their nature and production requires an risk modeller to forsee and manage the risk in their business.
Though most of the companies and Banking Institutions adopt traditional non-actuarial methods in India, the situation is different in many foreign countries.