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.
ANZCO Code
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.
Description of Role
