Emigrating to Australia as an Actuary | Intergate Emigration

EMIGRATING TO AUSTRALIA AS AN ACTUARY

emigrating to australia as an actuary
  • Are you a qualified actuary?
  • Under the age of 45?
  • Fluent in English?
  • In good health?

Then living and working in Australia could be an option for you! Continue reading to discover:

  • The requirements to meet
  • How the points system works
  • The immigration process to follow

ANZSCO - The First Piece of the Puzzle

ANZSCO stands for 'Australian and New Zealand Standard Classification of Occupations'.

It’s a system within the skilled migration program that sets the standards for the skills and work experience that visa applicants must meet to work in specific occupation in Australia or New Zealand.

Further to this, ANZSCO sets out the tasks that visa applicants must be able to perform as part of their everyday duties.

In other words, ANZSCO determines the most important requirements you must meet in order to qualify to apply for a skilled migrant visa.

The Skilled Occupation Lists Within ANZSCO

Australia has three skills shortage lists. These lists contain all the occupations in Australia that is in need from overseas because there is a shortage of talent in the country.

  • Medium and Long-Term Strategic Skills List (MLTSSL)
  • Short-Term Skilled Occupation List (STSOL)
  • Regional Occupational List (ROL)

The good news is that Actuaries are on the Medium and Long-Term Strategic Skills List (MLTSSL)!

This means the Australian government is happy with Australian companies hiring management consultants from overseas, albeit subject to strict requirements.

Please note: Australia has also created a temporary skilled occupation list in response to COVID-19 called the Priority Migration Skilled Occupation List (PMSOL).

What are the requirements?

Each occupation on a skills shortage list has an ANZSCO code assigned to it. This code determines the requirements a visa applicant must meet, specifically skill level and the tasks the applicant must be able to perform. 

There are also additional requirements, as determined by the Australian Department of Home Affairs, which include but are not limited to criteria around:

  • Age
  • English language competency
  • Qualifications

Next we'll take a detailed look at all of these requirements.

The ANZSCO Criteria

The ANZSCO code assigned to actuaries is 224111. This code gives us more details about the criteria actuaries have to meet in order to qualify to emigrate to Australia.

The first thing we look at is the group that actuaries fall under:

Major Group: 2 - Professionals | Sub-Major Group: 22 - Business, Human Resource and Marketing Professionals | Minor Group: 224 – Information and Organisation Professionals | Unit Group: 2241 – Actuaries, Mathematicians and Statisticians

As you can see there are four groups showing how the code is made up – we are mostly interested in the code (224111) which is specific to actuaries.

Please note: Econometricians are excluded from this unit group. Econometricians are included in Unit Group 2243 Economists.

This part of the ANZSCO criteria lays out a broad description of what an actuary is supposed to be able to do:

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.

Actuaries is a Skill Level 1, which means you must have a level of skill comparable with a bachelor degree or higher qualification. In the absence of a formal qualification, at least five years of relevant experience may act as a substitute.

In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification.

When applying for emigration as an actuary, you must be able to demonstrate or prove that you can perform the majority of the tasks below:

  • 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

Many people mistakenly think that finding a job is the first step when immigrating.

In fact, the first step should always be an immigration assessment to see if you have the necessary skills, qualifications and experience to live and work in Australia.

Why do we say this?

  1. If you don’t meet the requirements for skilled migration, you won’t be able to apply for a visa.
  2. Doing an assessment first and knowing for sure that you’re eligible for immigration enables you to job hunt with confidence. Employers are much more likely to extend job offers if they know that you can work in Australia.

The golden rule? Do an assessment, then find a job.

The Assessment of Your Occupation

vetassess australiaVETASSESS is nominated by the Department of Home Affairs as the relevant assessing authority for the occupation of management consultant.

VETASSESS is Australia's leading vocational education and training (VET) assessment provider. 

 

VETASSESS will assess your qualifications and employment against the suitability of your nominated occupation.

Qualification assessment involves assessing the educational level comparability of your qualifications on the Australian Qualifications Framework (AQF) and determining the relevance of your qualifications for your nominated occupation. Employment assessment entails determining if your work experience, whether obtained in Australia or overseas, is at an appropriate skill level and relevant to your nominated occupation.

You’ll need a positive assessment of both qualifications and employment for a successful skills assessment for migration purposes.

Skills assessments are costly! Our advice is thus to only do a skills assessment once you've had an immigration assessment done. 

In doing so, you'll receive a written report that confirms whether or not you meet all the requirements. Your report will also make clear recommendations on the way forward and outline all the costs involved in your visa application.

Neglecting to do the eligibility assessment first could jeopardise your visa application and cost you a lot of money.

Useful Links for Your Emigration

Want to know if you're eligible to emigrate to Australia as an actuary?

The Basic Requirements to Meet

Emigrating to Australia as an actuary will only be possible if you achieve a points score of at least 65 in your immigration assessment.

In order to immigrate to Australia, you must score an IELTS 7 in all four components of your test - reading, writing, listening, and speaking.

The IELTS is not the only English test available though. Your immigration agent should advise you on which English language test would be best for you.

More information on English tests:

All applicants for permanent and provisional visas must meet Australia’s health requirements to qualify for immigration. This includes the:

  • Main applicant;
  • Spouse; and
  • Any other members of the family unit.

The Department of Home Affairs or the migration medical services provider will evaluate the completed health exam reports to decide if applicants meet Australia’s health requirements.

Please note: In certain cases, non-migrating family members will also be assessed against the health requirements.

Everyone who wants to enter Australia must be of good character and will be assessed against Australia's character requirements. As part of your visa application, you might be required to provide a police clearance certificate or other evidence to satisfy the character requirements.

  • You will not pass the character test if:

    • you have a substantial criminal record, meaning you have been sentenced to 12 months or more in prison, or multiple sentences that add up to more than 12 months in prison. A suspended sentence is considered a prison sentence.

    • you have been convicted of escaping from immigration detention, or convicted for an offence that you committed:

      • while you were in immigration detention,

      • during an escape from immigration detention,

      • after an escape, but before you were taken into immigration detention again.

  • You are or have been a member of a group or organisation, or had or have an association with a person, group or organisation that the Minister for Immigration reasonably suspects of involvement in criminal conduct

  • The Minister for Immigration reasonably suspects that you have been involved in people smuggling, people trafficking, genocide, a war crime, a crime against humanity, a crime involving torture or slavery, or a crime that is of serious international concern, whether or not you have been convicted of such an offence

  • Your past and present criminal or general conduct shows that you are not of good character

  • There is a risk that while you are in Australia you would:

    • engage in criminal conduct,

    • harass, molest, intimidate or stalk another person,

    • vilify a segment of the Australian community,

    • incite discord in the Australian community or in a part of it,

    • be a danger to the Australian community or a part of it.

  • You have been convicted of, or found guilty or had a charge proven for one or more sexually based offences involving a child,

  • You are subject to an adverse security assessment by the Australian Security Intelligence Organisation

  • You are subject to an Interpol notice, from which it is reasonable to infer that you a direct or indirect risk to the Australian community, or a segment of the Australian community.

More About the Points Test and English Language Requirements...

PART 1 – Age

 Points
18 – 2525
25 – 3230
32 – 3925
40 – 4415
45 – 490

As you can see, actuaries can get as much as 50% of the required 65 points just by being in the right age group.

PART 2 – English language

 Points
Superior English - IELTS 8 or more in all 4 components or OET ‘A pass’20
Proficient English - IELTS 7 or more in all 4 components or OET ‘B pass’10
Threshold English: Competent English (IELTS 6 or more in all 4 components or certain passport holders)0

PART 3 – Overseas employment experience

 Points
36 months (3 years) in the last 10 years5
60 months (5 years) in the last 10 years10
96 months (8 years) in the last 10 years15

'Overseas' means experience you gained while working outside of Australia. This experience must add up to at least three years of working in your occupation as an actuary. 

PART 4 – Australian employment experience

Points are available if an applicant has worked in Australia in their nominated occupation or closely related skilled occupation as follows: 

 Points
1 Year5
3 Years10
5 Years15
8 Years20

Please note: You can get a maximum of 20 points for a combination of Australian and overseas work experience.
.

PART 5 – Australian professional year

You get five points if you've completed a professional year in Australia in your nominated occupation or a closely related occupation.

PART 6 – Educational qualifications

You get points if you have completed qualifications either through an Australian educational institution or an overseas qualification that is of a recognised standard:

 Points
Doctorate (PhD) – Australian institution or recognised overseas institution20
Bachelor degree or higher – Australian institution or recognised overseas institution15
Diploma – Australian institution10
Trade certificate – Australian institution10
Qualification or award recognised by the relevant assessing authority for the applicant’s nominated occupation10

You'll only get points for your highest single qualification. It is not possible to claim points for more than one qualification under this part.

PART 7 – Australian study

You can get five points if you meet the two-year Australian study requirement. 

PART 8 – Credentialed community language

NAATI-accredited translators and interpreters at the paraprofessional (level 2) or higher are eligible for five points. A list of languages is not specified, so by implication any language assessed by NAATI at the paraprofessional level or higher should be acceptable.

PART 9 – Study in a regional or low-population growth metropolitan area of Australia

Criteria are:

  • Applicant meets the 2-year Australian study requirement;

  • Studies were conducted at a campus in regional Australia or a low-population growth metropolitan area;

  • Applicant lived in in regional Australia or a low-population growth metropolitan area  during the study;

  • None of the studies was via distance education.

The relevant regional areas are all parts of Australia, excluding: greater Brisbane area, the Gold Coast, Newcastle, the Central Coast, Sydney, Wollongong, Melbourne metropolitan area, Perth and surrounding areas and the Australian Capital Territory.

.

PART 10 – Partner skill

Applicant’s spouse or de facto partner:

 Points
The partner obtains competent English or holds a valid passport from the UK, Canada, USA, Ireland etc.5
The partner is under the age of 45, an applicant for the same General Skilled Migration visa subclass, obtains a positive skills assessment, is not an Australian PR resident or citizen, and has a minimum of competent English or higher10
The partner is an Australian or PR holder10
You are single10

PART 11 – State or Territory nomination

One way of gaining extra points as an actuary seeking to emigrate to Australia is to look at state or territory nomination. While this commits you to living in a certain state for or territory for two years, it could mean that you earn vital points.

You're applying for the 190 visa:

To gain five additional points when applying for the 190 visa, you must meet these requirements: 

  • You've been invited to apply for the visa by a State or Territory government; and

  • The nomination has not been withdrawn by the State or Territory government.

If you are able to look at the 491 visa option, the following factors apply in order to gain 15 additional points.

  • The applicant has been invited to apply for the visa by a State or Territory government; and

  • The nomination has  not been withdrawn by the State or Territory government.

  • The applicant has been sponsored by a relative usually resident in a designated area; and

  • The sponsorship has been accepted by the Minister.

This Is How You Should Start Your Emigration...

You always start your emigration with an eligibility assessment to see if your education, skills and experience meet Australia's immigration requirements.

Why?

Because an eligibility assessment will reveal:

  • If you're eligible to immigrate to Australia
  • The visa for which you qualify
  • The next steps to take

What is the benefit of doing an assessment?

You'll maximise your chances of success and avoid unnecessary costs because you'll apply for the correct visa and won't pursue something that's potentially not possible.  

Imagine how much money you stand to lose if you pay for skills assessments and occupational registrations if you don't actually qualify to immigrate! Even worse - imagine you sell your house and only afterwards find out you can't immigrate because you didn't do an assessment!

How Can Intergate Emigration Help You?

Intergate Emigration offers a free and non-obligatory initial immigration assessment to start with.

If this initial assessment shows you are eligible to live and work in Australia, you can proceed with a formal assessment by one of our licensed advisors. 

At the end of the formal assessment you’ll have a clear idea of the way forward, the costs involved, and how visa application process works.

Ready to get started? Simply book your free initial assessment below:

Get your visa application right the first time with the assistance of our advisors

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