2241 Mathematical Science Professionals

Econometricians are included in Unit Group 2243 Economists.

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.

• 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
• data mining and data cleansing to discover trends to extract insight

• building and deploying machine learning frameworks

• 224111 Actuary
• 224112 Mathematician
• 224114 Data Analyst
• 224115 Data Scientist
• 224116 Statistician

Analyses mathematical, statistical, demographic, financial or economic data to predict and assess the long-term risk involved in financial decisions and planning. Registration or licensing is required.

Skill Level: 1

Develops and applies mathematical principles and techniques to solve problems in all areas of the sciences, engineering, technology, social sciences, business, industry and commerce.

Skill Level: 1

Specialisation:

• Operations Research Analyst

Gathers, cleans and interprets data by processing and applying information technology tools to transform, prepare and communicate results using interactive visualisations such as graphs and charts.

Skill Level: 1

Applies analytical techniques and scientific procedures to large datasets by creating advanced algorithms and data models. Builds and deploys machine learning frameworks to obtain information for strategic planning and decision making.

Skill Level: 1

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. Registration or licensing may be required.

Skill Level: 1

Specialisations:

• Biometrician
• Biostatistician
• Demographer
• Epidemiologist