Career Questions

Everyday Islamic Finance Business and Career Questions
#1

Assalamu Alaykum,

I have a few questions:

  1. Is it permissible to work as an actuary in the insurance industry, or should I work as an actuary in the consulting industry?

  2. Is management/strategic consultancy in of itself permissible?

  3. Is working as FP&A halal?

Permissability of Actuarial Analyst/Actuary Role
#2

Assalaamu alaykum,

  1. You should work in the consulting industry instead.

  2. Yes.

  3. What is your job description?

#3

General responsibilities of FP&A:

  • Defines financial situation by completing quantitative analyses.
  • Evaluates optional plans by identifying outcomes and potential returns.
  • Values assets by appraising current condition; assessing potential.
  • Recommends debt structures by analyzing refinancing options.
  • Builds financial database by identifying sources of information; assembling, verifying, and backing up data.
  • Recommends financial actions by assessing options in relation to organization goals.
  • Prepares financial reports by collecting, formatting, analyzing, and explaining information.
  • Protects operations by keeping financial information confidential.
  • Maintains technical knowledge by attending educational workshops; reviewing publications.
  • Contributes to team effort by accomplishing related results as needed.