A profession is an occupation or vocation requiring advanced study in a specialized field. The actuarial profession started out from life insurance and pension plans. Later, its development ran parallel to the accounting profession. To safeguard the goals and objectives of the profession, actuarial organizations were established on an international level but also on a national level where often rules for proper accreditation have been established. Economic and financial developments have broadened the required skills of an actuary. The future actuary will face new challenges that emerge from regulation, globalization and expanding knowledge.