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Masters Degrees (Actuarial Management)

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The UK Institute and Faculty of Actuaries accredits the MSc in Actuarial Management course. Indeed, Cass Business School was the first institution in the UK to have both undergraduate and postgraduate programmes fully accredited by the UK Institute and Faculty of Actuaries. Read more
The UK Institute and Faculty of Actuaries accredits the MSc in Actuarial Management course. Indeed, Cass Business School was the first institution in the UK to have both undergraduate and postgraduate programmes fully accredited by the UK Institute and Faculty of Actuaries.

Consequently, the course allows you to study the key areas of actuarial practice whilst also offering the opportunity to gain exemptions from the examinations of the UK Institute and Faculty of Actuaries.

In particular, students are able to gain exemptions in Actuarial Risk Management (Subject CA1), Communications (Subject CA3) and most of the Specialist Technical (or ST) subjects*

In addition, students who have outstanding Core Technical (or CT) subjects are able to gain exemptions in many of these also (covers Subjects CT2, CT4, CT5, CT6 and CT8 only).

The MSc in Actuarial Management also provides a good foundation for students preparing for examinations of the professional bodies in other countries (including the United States, Canada and Australia).

Visit the website: http://www.cass.city.ac.uk/courses/masters/courses/actuarial-management/2017

Course detail

The MSc in Actuarial Management programme starts with a compulsory induction focused on:

- A refresher course of advanced financial mathematics, statistics, computing and electronic databases.
- An introduction to the Cass Careers offering with a focus on key skills and attributes that employers are looking for. The annual MSc Careers Fair at this time also provides the opportunity to meet over 60 companies who are recruiting across many sectors including finance, energy, insurance, real estate, shipping, strategic management and internal auditing.

Format

The Masters Actuarial Management course is delivered through:

- face-to-face lectures from qualified actuaries (and other experts in the field)
- dedicated online support
- ready access to faculty members
- advice on exam techniques

Full-time and part-time

The full-time version of the MSc in Actuarial Management, which is completed over one academic year, requires students to attend lectures which amount to two days per week.

Alternatively, the part-time version of the course, which is completed over two academic years, has been designed to fit with the study leave packages commonly offered by actuarial employers. As a result, part-time students are required to attend lectures which amount to one day per week during term time over the two years.

Faculty members include a significant number of qualified actuaries and other experts in range of wider fields, who use their commercial experience and current research interests to inform their teaching.

Career opportunities

There is a continuous demand for capable postgraduate level students in the actuarial profession, whose members are among the highest paid in the UK. There are around 9,000 qualified actuaries in the UK, working in fields such as; Insurance companies (life/non life departments), consulting firms, government departments, banks and investment firms, teaching and research.

Some examples of where graduates from the MSc in Actuarial Management class of 2014 are working are:
• Retirement Benefits Authority - Actuarial Officer
• KPMG - Senior Associate
• Citbank - Management Trainee
• Aon Hewitt Limited - Associate Consultant

How to apply

Apply here: http://www.city.ac.uk/study/postgraduate/applying-to-city

Funding

For information on funding, please follow this link: http://www.city.ac.uk/study/postgraduate/funding-and-financial-support

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Entry to the actuarial profession is by a demanding series of examinations, but the rewards after qualifying are great. The Institute and Faculty of Actuaries in the UK has four levels of examinations to qualify. Read more

Overview

Entry to the actuarial profession is by a demanding series of examinations, but the rewards after qualifying are great. The Institute and Faculty of Actuaries in the UK has four levels of examinations to qualify. The first level, the Core Technical (CT) subjects, are taught in our BSc or MSc in Actuarial Science and lead to exemptions from CT1 to CT8.

Leading on from this, our established and successful MSc in Actuarial Management (See http://www.postgraduate.hw.ac.uk/prog/msc-actuarial-management/ ) covers the more advanced actuarial subjects and offers exemptions from the syllabuses of the Core Application subjects CA1 and CA3 and Specialist Technical subjects ST2, ST4, ST5, ST6 and ST9.

Students will typically study CA1, CA3 and up to three ST subjects (two ST subjects are needed to satisfy the profession's requirements).

Taking our MSc in Actuarial Management is a great way to speed your progress to this most prestigious of careers - it's designed to take you almost all of the way to qualification. A student who graduates with a full set of exemptions from Heriot-Watt (CT, CA and ST subjects) will only have three more examinations to pass, as well as gaining the necessary work experience, to qualify as a Fellow of the Institute and Faculty of Actuaries.

Programme duration

The PG Diploma comprises the taught coursework component leading to exemptions from CA1 and the ST professional subjects and takes 9 months to complete. Successful students can then progress to the project work in the summer. This takes the form of industry-relevant case studies, assessed by written reports, which leads to the award of an MSc and exemption from the Subject CA3. In exceptional cases a student may be allowed to write a research dissertation.

The programme is also available to be studied on a part-time basis, over a maximum of 4 years.

Teaching Excellence and Student Satisfaction

30% of our teaching staff are qualified actuaries, the others are leading Mathematicians, Financial Mathematicians and Statisticians, who are nationally and internationally recognised for their research. This expertise ensures that what we teach you is current, applicable to the real workplace and current economy. Our National Student Survey results are consistently high for overall student satisfaction.

Results from the National Student Survey for 2011 reveal that 88% of our Mathematics and Statistics (including Actuarial Science) graduates are employed with a graduate position and/or undertaking further study. Our graduates go on to work for companies such as Swiss Re, Standard Life, Towers Watson, Lloyds Banking Group, Barclays Capital, Scottish Widows, Ernst & Young and many more. Graduates are employed locally in Edinburgh, London and throughout the world.

Student Actuarial Society

Heriot-Watt has a very active Students' Actuarial Society (See http://hwsas.com/ ) which won several awards at a recent Heriot-Watt 'Oscars' ceremony. This body is completely managed, enthusiastically and professionally, by our students.

Professional recognition

The programme is fully accredited by the Institute and Faculty of Actuaries.

Programme content

In the taught element of the programme each student takes eight semester-long courses. These are linked in pairs, one per semester. One pair of courses – covering Actuarial Risk Management – is compulsory and corresponds to subject CA1. It applies the principles of actuarial mathematics to a wide range of financial and insurance settings. Students choose a minimum of two pairs of courses from a list including Life Office Management (subject ST2), Pensions (subject ST4), Investment and Finance (subject ST5), Derivatives (subject ST6) and Enterprise Risk Management (subject ST9).

The choice of courses may depend on the coverage of actuarial subjects in the student’s first degree. Depending on individual circumstances, other optional courses may be made available, for example courses from the MSc in Actuarial Science or in other disciplines. However, students choosing to take three pairs of courses, potentially leading to exemptions from three ST subjects, will have an exceptionally broad range of employment opportunities.

Students may graduate with the Postgraduate Diploma at the end of the 2nd semester, after completing the taught coursework component leading to exemptions form CA1 and the ST professional subjects. Successful students can then progress to the project work in the summer. This takes the form of industry-relevant case studies, assessed by written reports, which leads to the award of an MSc and exemption from the Subject CA3. In exceptional cases a student may be allowed to write a research dissertation.The dissertation is an extended research project, with regular supervision, undertaken in the summer. The diploma takes 9 months and the MSc takes 1 year full time and part time options are available.

For more detailed course descriptions, please visit the current student website http://www.ma.hw.ac.uk/ams/teach/courses1314/index.php

English language requirements

If your first language is not English, or your first degree was not taught in English, we’ll need to see evidence of your English language ability. The minimum requirement for English language is IELTS 6.5 or equivalent. We offer a range of English language courses (See http://www.hw.ac.uk/study/english.htm ) to help you meet the English language requirement prior to starting your masters programme:
- 14 weeks English (for IELTS of 5.5 with no more than one skill at 4.5);
- 10 weeks English (for IELTS of 5.5 with minimum of 5.0 in all skills);
- 6 weeks English (for IELTS 5.5 with minimum of 5.5 in reading & writing and minimum of 5.0 in speaking & listening)

Find information on Fees and Scholarships here http://www.postgraduate.hw.ac.uk/prog/msc-actuarial-management/

Find videos of students and graduates from the department here http://www.youtube.com/user/HWActuarial?blend=3&ob=5#p/a

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The Master of Actuarial Practice at Bond University is a five-semester degree that provides those with an undergraduate degree in an alternative field the opportunity to complete all actuarial Part I and Part II subjects. Read more

The Master of Actuarial Practice at Bond University is a five-semester degree that provides those with an undergraduate degree in an alternative field the opportunity to complete all actuarial Part I and Part II subjects. In addition, you will have the opportunity to undertake a specialisation. The recommended specialisation is Big Data, however students also have the option to choose any other Bond Business School specialisation. This 92-week program contains a 20-week thesis component in the final semester designed to support learning, personal development and professional practice. Bond Actuarial graduates are thus very well placed in the job market and the skills are highly transferable between countries. Any completed relatable undergraduate program will also gain you up to 40 credit points towards the Master of Accounting program. 

Bond is the only university in Queensland to offer the fully accredited program by the Actuaries Institute.

About the program

Provisionally accredited by the Actuaries Institute, the Master of Actuarial Practice is an innovative and immersive program that combines advanced mathematics, statistics, data analytics, actuarial risk theory, finance, economics and accounting with large-scale, real-life commercial data analysis to develop techniques for the management of risk and business decision making. An integral part of this degree is the development of research skills and actuarial judgement through the Actuarial Control Cycle subjects and the Actuarial Research Thesis subject.

The Master of Actuarial Practice will deliver smaller classes for personalised attention and unparalleled access to Bond University's Macquarie Trading Room and Bloomberg data-sourcing terminals. The program will develop skills in the challenge of handling ‘big data’ to create practical solutions for real world problems. 

Professional outcomes

The Master of of Actuarial Practice will prepare students for rewarding careers in a range of disciplines, including:

  • Climatology
  • Consulting
  • Data Analytics
  • E-Commerce
  • Economics
  • Finance
  • Health
  • Insurance
  • Infrastructure
  • Research
  • Risk Management
  • Safety
  • Science
  • Statistics
  • Superannuation
  • Technology

Structure and subjects

Master of Actuarial Practice students must complete the following eleven subjects:

Plus the following four professional subjects:

Plus five approved elective subjects.

or

One of the postgraduate specialisations plus one elective subject.

Students may also choose one of the following opportunities to use your elective subject to have an international experience or an Internship opportunity provided you meet the requirements. Please discuss with the Enrolment and Student Engagement Officer in the Student Business Centre.  

  • Study Tour
  • The Study Tour requires approval from the Faculty. (Please note that Additional Costs are associated with this subject).
  • Business Internship
  • The Internship requires a GPA credit average and requires approval from the Faculty with an application to the Career Development Centre.
  • Special Topic
  • The Special Topic is only available in exceptional circumstances and requires Program Director's approval.

Specialisations

Complete four subjects from one of the following specialisations:




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Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems. Read more
Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems.

Qualifying as an actuary is a passport to a wide variety of careers in insurance companies, investments, pensions, health care and banking – not just in the UK, but throughout the world. Kent is one of a very few universities in the UK to teach the subject.

Our MSc in Applied Actuarial Science is fully accredited by the Institute and Faculty of Actuaries; it also provides a fast-track route to qualifying as an actuary, because students who achieve a high enough overall mark in this programme can obtain exemptions from the professional examinations included within their studies.

The MSc is available as a full-time (one-year) or part-time (two-year) programme and is suitable for those who have completed a first degree or postgraduate diploma in Actuarial Science, or those who have studied the majority of the earlier subjects in the Core Technical Stage subjects.

Visit the website https://www.kent.ac.uk/courses/postgraduate/174/applied-actuarial-science

About the School of Mathematics, Statistics and Actuarial Science (SMSAS)

The School has a strong reputation for world-class research and a well-established system of support and training, with a high level of contact between staff and research students. Postgraduate students develop analytical, communication and research skills.

In 2010, the Centre for Actuarial Science, Risk and Investment (CASRI) was set up within SMSAS to reflect the widening scope of the teaching and research of the staff. Areas of research interest include economic capital and risk management for financial services firms, mortality and longevity modelling, longevity indices and markets. Other research topics include genetics and insurance, insurance economics, pensions and corporate reporting.

The Centre includes 13 professionally qualified actuaries with many years’ practical experience in insurance and pensions, and who maintain excellent links with the actuarial profession.

Course structure

The course is based on a ‘core modules plus options’ structure and exemptions can be gained from the following professional examinations in the Core Applications Stage and Specialist Technical Stage: CA1, CA3, ST2, ST4 to ST9. You can also choose the optional Financial Modelling modules, which prepare you for subject CA2 in the Core Applications Stage. Find out more about accreditation for this programme (http://www.kent.ac.uk/casri/Accreditation/index.html) and the Institute and Faculty of Actuaries examinations (http://www.actuaries.org.uk/students/pages/our-exams-explained).

You must take 180 credits in order to pass the MSc. If you take fewer than 180 credits, you may be eligible for the Postgraduate Diploma in Applied Actuarial Science.

Modules

The following modules are indicative of those offered on this programme. This list is based on the current curriculum and may change year to year in response to new curriculum developments and innovation. Most programmes will require you to study a combination of compulsory and optional modules. You may also have the option to take modules from other programmes so that you may customise your programme and explore other subject areas that interest you.

MA909 - Enterprise Risk Management (30 credits)
MA912 - Life Insurance (30 credits)
MA914 - Pensions and Other Benefits (30 credits)
MA915 - Finance and Investment (30 credits)
MA916 - Derivative Securities (30 credits)
MA917 - General Insurance - Reserving and Capital Modelling (30 credits)
MA918 - General Insurance - Premium Rating (30 credits)
MA950 - Prophet (15 credits)
MA951 - Prophet 2 (15 credits)
MA952 - Financial Modelling (15 credits)
MA953 - Communications (15 credits)
MA921 - Actuarial Risk Management 1 (30 credits)
MA922 - Actuarial Risk Management 2 (30 credits)

Assessment

Assessment is usually by a mixture of coursework and examination; exact weightings vary from module to module.

- Accreditation
Students who are considered to have performed sufficiently well in the programme (both in examinations and coursework), as determined by an examiner appointed by the UK Actuarial Profession, will be exempt from subjects CA1, CA3 and the Specialist Technical subjects studied within the programme.

If you fail to achieve a suitable overall standard, you might still be awarded individual module exemptions as recommended by the Profession’s examiner. Please note that individual exemptions are granted based on the final written examinations only.

Programme aims

This programme aims to:

- provide successful students with eligibility for subject exemptions from the Core Application and Specialist Technical series of examinations of the Institute and Faculty of Actuaries. This means obtaining a thorough knowledge of core actuarial applications, developing the ability to apply this knowledge in a practical situation and gaining current knowledge and understanding of the practice of major areas in which actuaries are involved.

- develop your understanding, knowledge and awareness of current problems, much of which is at the forefront of current professional practice.

- ensure you are competent in the use of information technology, and are familiar with computers, together with the relevant software.

Careers

The UK Actuarial Profession

The UK Actuarial Profession is small, but influential and well rewarded. There are more than 6,500 actuaries currently employed in the UK, the majority of whom work in insurance companies and consultancy practices.

Survey results published by the Institute and Faculty of Actuaries (http://www.actuaries.org.uk/becoming-actuary/pages/what-can-actuary-earn) suggest that the average basic salary for a student actuary is £36,842 with pay and bonuses increasingly sharply as you become more experienced. The average basic salary of a Chief Actuary is £209,292.

As an actuary, your work is extremely varied and can include: advising companies on the amount of funds to set aside for employee pension payments; designing new insurance policies and setting premium rates; pricing financial derivatives and working in fund management and quantitative investment research; advising life insurance companies on he distribution of surplus funds; and estimating the effects of possible major disasters, such as earthquakes or hurricanes, and setting premium rates for insurance against such disasters. For more information about the actuarial profession, see http://www.actuaries.org.uk

- Employability support

Helping our students to develop strong employability skills is a key objective within the School and the University. We provide a wide range of services and support to equip you with transferable vocational skills that enable you to secure appropriate professional positions within industry. Within the School we run specialist seminars and provide advice on creating a strong CV, making job applications and successfully attending interviews and assessment centres.

Our graduates have gone on to successful careers in the actuarial, finance, insurance and risk sectors.

Find out how to apply here - https://www.kent.ac.uk/courses/postgraduate/apply/

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What is the 'Master of Financial and Actuarial Engineering' all about?. The Master of Financial and Actuarial Engineering programme provides students with up-to-date, sound and advanced financial, actuarial and statistical skills. Read more

What is the 'Master of Financial and Actuarial Engineering' all about?

The Master of Financial and Actuarial Engineering programme provides students with up-to-date, sound and advanced financial, actuarial and statistical skills. It is an intensive, advanced, one-year programme for university graduates interested in a career in risk management, financial and/or actuarial engineering within financial institutions. The discipline focuses on the application of quantitative methods to problems involving risk or uncertainty. You will gain an understanding of current and future problems and solutions in insurance and banking and be equipped with fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques.

The programme provides advanced insights into the actuarial aspects of life insurance, general insurance and risk theory as well as financial mathematics and the inter-relationship and integration of actuarial sciences and finance. The programme draws on over sixty years of experience and international recognition. The research team for risk theory, finance and statistics has a strong research profile and is ranked among the world top in terms of actuarial research productivity. The programme is jointly offered by the Faculty of Business and Economics and the Faculty of Science at KU Leuven, in collaboration with Université Catholique de Louvain.

Objectives

The main goal of the programme is to provide the students with an sound knowledge of finance and actuarial science. They develop the capabilities to understand current and future problems and solutions in the actuarial and financial context. They will be equipped with fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques. Graduates holding both the degree of Master of Financial and Actuarial Engineering and 'Master in de verzekeringen' (Dutch-language initial master at KU Leuven) are eligible for membership in the professional body of actuaries in Belgium (IA|BE), and the international actuarial professional body (IAA).

At the end of the programme students will:

  • be equipped with fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques;
  • have advanced insights in the actuarial aspects of life insurance, general insurance, risk theory as well as in the interrelationship and integration of actuarial sciences and financial mathematics;
  • have a strong background in quantitative methods and financial models and will be able to select and apply those methods to problems that involve risk or uncertainty;
  • dispose of enhanced analytical, critical, conceptual, problem solving and decision making capabilities and skills;
  • have the ability to integrate actuarial, statistical and financial modelling techniques in order to arrive at effective solutions to problems occurring in insurance and financial practice;
  • be able to conduct research, not only in an academic context, but also in view of a professional career;
  • be able to stay up-to-date with the advances in actuarial sciences by following up and familiarizing with new insights, developments, results and methods;
  • be able to communicate and report adequately on financial and actuarial topics.

Career perspectives

The programme addresses the rapidly-changing needs resulting from the accelerating globalisation of the banking and insurance sector. As such, it provides a sound basis for a career in various areas of risk management, financial and actuarial engineering and insurance. Most graduates find employment in insurance companies, whose financial stability depends on actuarial calculations (e.g. premiums, provisions, capital requirements, reinsurance policy).

As an expert in the field of risk and uncertainty, you can also play an important role in banking and finance. The increasing convergence between the insurance and financial markets as well as the use of mathematically based instruments, such as options and futures, offers excellent career prospects. Graduates are well placed to find employment in banks, pension funds, reinsurance companies, consulting and audit companies.

Some graduates go to work in government, for instance in social security or economic affairs departments. Graduates holding both the degree of Master of Financial and Actuarial Engineering and 'Master in de verzekeringen' (Dutch-language initial Master's programme at KU Leuven) are eligible for membership in the professional body of actuaries in Belgium (IA|BE).



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Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems. Read more
Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems.

Qualifying as an actuary is a passport to a wide variety of careers in insurance companies, investments, pensions, health care and banking – not just in the UK, but throughout the world. Kent is one of a very few universities in the UK to teach the subject.

Our Postgraduate Diploma (PDip) in Actuarial Science, MSc in Applied Actuarial Science and International Master’s are all fully accredited by the Institute and Faculty of Actuaries; they also provide a fast-track route to qualifying as an actuary, because students who achieve a high enough overall mark in these programmes can obtain exemptions from the professional examinations included within their studies.

This PDip in Actuarial Science programme gives you the opportunity to gain exemptions from eight of the Core Technical subjects (CT1 to CT8) of the professional examinations and provides you with a firm foundation for the later subjects. If you perform well enough on this course to obtain the full set of exemptions available, you could reduce your time to qualify as an actuary by three years or more.

Visit the website https://www.kent.ac.uk/courses/postgraduate/1/actuarial-science

Modules

The following modules are indicative of those offered on this programme. This list is based on the current curriculum and may change year to year in response to new curriculum developments and innovation. Most programmes will require you to study a combination of compulsory and optional modules. You may also have the option to take modules from other programmes so that you may customise your programme and explore other subject areas that interest you.

MA319 - Probability and Statistics for Actuarial Science (15 credits)
MA501 - Statistics for Insurance (15 credits)
MA529 - Probability and Statistics for Actuarial Science 2 (15 credits)
MA639 - Time Series Modelling and Simulation (15 credits)
MA816 - Contingencies 1 (15 credits)
MA817 - Contingencies 2 (15 credits)
MA819 - Business Economics (15 credits)
MA820 - Financial Mathematics (15 credits)
MA825 - Survival Models (15 credits)
MA826 - Finance & Financial Reporting (15 credits)
MA835 - Portfolio Theory and Asset Pricing Models (15 credits)
MA836 - Stochastic Processes (15 credits)
MA837 - Mathematics of Financial Derivatives (15 credits)
MA840 - Financial Modelling (15 credits)

Assessment

Assessment is usually by a mixture of coursework and examination; exact weightings vary from module to module.

- Accreditation
Students who are considered to have performed sufficiently well in the programme (both in examinations and coursework), as determined by an examiner appointed by the UK Actuarial Profession, will be exempt from all the CT subjects studied within the programme. If a student fails to achieve a suitable overall standard, they might still be awarded individual module exemptions as recommended by the Profession’s examiner. Please note that individual exemptions are granted based on the final written examinations only.

Programme aims

This programme aims to:

- give you the depth of technical appreciation and skills appropriate to a Master’s level programme in actuarial science

- provide successful students with eligibility for subject exemptions from the Core Technical series of examinations of the actuarial profession. This means obtaining a thorough knowledge and understanding of various core actuarial techniques and gaining current knowledge and understanding of the practice of some of the major areas in which actuaries are involved

- ensure you are competent in the use of information technology, and are familiar with computers, together with the relevant software

- introduce you to an appreciation of recent actuarial developments, and of the links between subject theories and their practical application in industry

- prepare you for employment within the actuarial profession and other financial fields

- provide suitable preparation for students who wish to proceed to the MSc in Applied Actuarial Science.

Research areas

- Genetics and insurance risks

Advances in human genetics, and medical sciences in general, have led to many gene discoveries; a number of single-gene disorders have been successfully identified and studied in detail. Researchers are now increasingly focusing on common multifactorial genetic disorders such as cancer, heart attack and stroke, caused by interaction of genes and environmental factors. It is important for the insurance industry to understand the full implications of these latest developments. First, can an insurer justify charging different premium rates to different risk groups? Second, if insurers are not allowed to discriminate between individuals based on their genes, by regulation or by law, is there a risk of adverse selection?

- Economic capital and financial risk management

Financial services firms are in the business of accepting risks on behalf of their customers. Customers do not always have the time or expertise to handle financial risks on their own, so they pass these on to financial services firms. However, even the most reputable firms can sometimes get it wrong, so it is fundamentally important for all stakeholders that financial services firms hold an appropriate amount of capital calculated on a robust scientific basis, to back the risks they are running. Economic capital can provide answers by specifying a unifying approach to calculating risk-based capital for any firm in the financial services sector.

From a public policy perspective, regulators and governments face the dilemma of whether to regulate against genetic underwriting or to allow market economies to take their own course. On one hand, there is a moral obligation not to discriminate against individuals for their genetic make-up. On the other hand, risk of adverse selection against insurance firms cannot be ruled out altogether. Maintaining an appropriate balance between the two is key.

Careers

- The UK Actuarial Profession

The UK Actuarial Profession is small, but influential and well rewarded. There are more than 6,500 actuaries currently employed in the UK, the majority of whom work in insurance companies and consultancy practices.

Survey results published by the Institute and Faculty of Actuaries suggest that the average basic salary for a student actuary is £36,842 with pay and bonuses increasingly sharply as you become more experienced. The average basic salary of a Chief Actuary is £209,292.

As an actuary, your work is extremely varied and can include: advising companies on the amount of funds to set aside for employee pension payments; designing new insurance policies and setting premium rates; pricing financial derivatives and working in fund management and quantitative investment research; advising life insurance companies on he distribution of surplus funds; and estimating the effects of possible major disasters, such as earthquakes or hurricanes, and setting premium rates for insurance against such disasters. For more information about the actuarial profession, see http://www.actuaries.org.uk

- Employability support

Helping our students to develop strong employability skills is a key objective within the School and the University. We provide a wide range of services and support to equip you with transferable vocational skills that enable you to secure appropriate professional positions within industry. Within the School we run specialist seminars and provide advice on creating a strong CV, making job applications and successfully attending interviews and assessment centres.

Our graduates have gone on to successful careers in the actuarial, finance, insurance and risk sectors.

Professional recognition

Offers exemptions from subjects CT1 to CT8 of the Institute and Faculty of Actuaries professional examinations, with the option to take further subjects for exemption purposes.

Find out how to apply here - https://www.kent.ac.uk/courses/postgraduate/apply/

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The global business environment is more complex and interconnected than ever before. Major shifts can happen in a day. The pace of change keeps increasing. Read more

The global business environment is more complex and interconnected than ever before. Major shifts can happen in a day. The pace of change keeps increasing.

The MSc Risk Management at GCU is designed for today - and industry recognises this. Double-accredited by the Chartered Insurance Institute (CII) and the Institute of Risk Management (IRM), the MSc Risk Management is available in both Glasgow and London.

As a student, you'll gain the cutting-edge knowledge and practical skillset to navigate the complexities and challenges of risk management in today's world.

  • Build skills in establishing risk policy and structures
  • Master the design and review processes for risk management
  • Practise building processes for risk response
  • Learn how to develop contingency and business continuity programmes

GCU is a global leader in risk management education and research. Our experts pursue high-impact research and investigate real-world problems in risk management. For example, we conducted a recent government-funded study assessing the risks associated with private finance in the construction industry and produced a recent report on the risks associated with e-commerce.

Our staff publish on subjects like insurance risk regulation, occupational health and safety, healthcare risk management, financial risk management and more - contributing to public knowledge and the common good.

In our thriving GCU community, we encourage every student and graduate to help build the common good as well. That means exploring ways to make a positive impact, whatever you do, wherever you go.

What you will study

Enterprise Risk and Modelling

You will gain an understanding of the theory involved in contemporary risk management processes and practices. Providing you with an understanding of the building techniques required to assemble a risk analysis model.

Global Perspectives on Risk

You will learn how to critically analyse a wide range of risks, including managerial, cultural, political, ethical and economic factors impacting on international businesses. You will also evaluate a range of risk management strategies and tactics available to international businesses.

Risk Financing and Insurance

You will learn the basic principles of risk finance, examine insurance theory and undertake a critical evaluation of insurance practice. Alternative risk financing methods such as options, futures, swaps and securitisation will also be analysed.

Business Continuity and Crisis Management

You will examine the relationship between risk management and business continuity management, study the key drivers of Business Continuity and the strategies involved when an organisation faces a crisis situation.

Ethics and Corporate Governance

This module explores the key issues in corporate governance and the extent to which the arrangements currently in place secure corporate accountability.

Personal and Professional Development

Enables you to identify, understand, develop and articulate your personal abilities in the context of your future career aspirations.

Research Methods

This module develops advanced skills related to a range of research methods needed for academic and practical research at Masters level.

Dissertation

The final element of the programme is the dissertation, which provides you with an opportunity to design and undertake a piece of research in a selective area of risk management.

Teaching Methods

Assessment will be continuous through a combination of formative and summativeassessment. Assessment is by a varietyof means such as case studies, portfolios,essays and reports.

Professional Accreditation

Accredited by the Chartered Insurance Institute (CII) and the Institute of Risk Management (IRM), this programme is designed to provide you with the skills to excel in a role as a risk manager, risk and insurance manager or risk analyst or clinical risk manager within a variety of organisations and sectors.

Your career

Our graduates are highly competitive candidates for job opportunities in the UK and across the world. Graduates find successful roles in risk management, risk analysis, risk co-ordination, insurance and business continuity management and more in a wide range of industry sectors including banking, insurance, consultancy, oil and gas, transport, and construction.



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Actuaries evaluate and manage financial risk. They apply advanced mathematical and statistical techniques to solve financial problems, assess the likelihood of a particular event and the possible financial costs. Read more

Actuaries evaluate and manage financial risk. They apply advanced mathematical and statistical techniques to solve financial problems, assess the likelihood of a particular event and the possible financial costs. The role of the actuary is increasingly important in the current economic climate, where volatile markets are contributing to financial uncertainty.

Our MSc Actuarial Finance will introduce you to essential business topics and enable you to apply your quantitative skills to solve complex business problems, such as risk management, insurance and derivatives. You’ll gain comprehensive knowledge in business areas such as accountancy, corporate finance and economics, as well as key analytical techniques, processes and models that have significant applications in actuarial finance.

The Business School has strong links with the actuarial profession and the insurance and pensions industry, giving you the opportunity to interact with practising actuaries and industry experts.

Academic excellence

This course is delivered in partnership with the University’s School of Mathematics. You’ll learn from leading academics based in both schools, giving you access to world-class expertise in both areas.

As a student, you will be able to access the knowledge of our advanced specialist research units, which also have strong links with leading institutions in the US, Europe and Asia. These include the Centre for Advanced Study in Finance (CASIF), the Institute of Banking and Investment (IBI) and the Credit Management Research Centre (CMRC).

You will also benefit from our strong relationships with the actuarial profession. This provides a connection to the latest developments in the industry and gives you a masters degree that is relevant to the contemporary environment.

Course content

You’ll take compulsory modules in corporate finance and economics allowing you to put your work into context and understand the importance of the role played by actuaries. At the same time, you’ll build your mathematical skills with classes in applied statistics and probability, as well as discrete time finance.

Building on this, you’ll study continuous time finance and gain an understanding of how different stochastic processes and survival models are applied to actuarial science. This will compliment your studies in topics such as accounting, professionalism and ethics, international investment and portfolio risk management.

Throughout the year you’ll build your professional skills with a core module focussing on critical practical skills that will prepare you for the workplace. At the end of the course, you’ll bring together your business, mathematical and professional knowledge to complete an independent project on a topic of your choice, which will demonstrate your ability to apply the skills you’ve gained.

Course structure

Compulsory modules

  • Portfolio Risk Management 15 credits
  • Corporate Finance 15 credits
  • Professionalism & Ethics for Actuaries 15 credits
  • International Investment 15 credits
  • Economics for Business 15 credits
  • Financial Reporting and Analysis 15 credits
  • Applied Statistics and Probability 15 credits
  • Discrete Time Finance 15 credits
  • Models in Actuarial Science 15 credits
  • Continuous Time Finance 15 credits
  • Projects in Actuarial Finance 30 credits

For more information on typical modules, read Actuarial Finance MSc in the course catalogue

Learning and teaching

Our tutors come from highly respected professional and academic backgrounds. We use a range of teaching methods so you can benefit from their expertise including lectures, workshops, seminars, computer simulations and tutorials.

In addition to the assessed modules and research dissertation, you benefit from professional training activities and employability workshops.

Independent study is also an important part of the course, allowing you to prepare for taught classes and sharpen your own research and critical thinking skills.

Assessment

Assessment methods emphasise not just knowledge, but essential skills development too. They include formal exams, group projects, reports, computer simulation exercises, essays and written assignments, presentations and reflective logs. This diversity enables you to develop a broad range of skills as preparation for professional life.

Career opportunities

As a graduate of this course you will be able to demonstrate in-depth knowledge of core actuarial principles, and the numerical and analytical skills to succeed in this rapidly changing complex environment.

Graduates have entered successful careers in insurance, pensions, accountancy, risk management and consultancy. Job prospects are wide ranging and include careers as accountants, consultants, scheme and insurance actuaries, and employment in investment banking and risk management.

As a result of the high level of quantitative skills developed, you also gain an excellent grounding for PhD study in accounting, finance and economics.

Careers support

We help you to achieve your career ambitions by providing professional development support and training as part of the Masters programme. You benefit from the support of a Professional Development Tutor, who will work with you to develop the important professional skills that employers value.

We’re committed to offering a wide range of development and training opportunities. Recent activities have included CV building and interview sessions, professional risk management workshops and commercial awareness networking events.

Read more about our careers and professional development support.

The University of Leeds Careers Centre also provides a range of help and advice to help you plan your career and make well-informed decisions along the way, even after you graduate.



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Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms. Read more
Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms. Actuaries quantify the probability and manage the risk of future events in areas such as insurance, healthcare, pensions, investment, and banking and also in non-financial areas. This course is taught by the Department of Mathematical Sciences and is intended for students with a first degree in mathematics, statistics, economics or finance who would like to acquire knowledge in actuarial science.

Our MSc Actuarial Science course is based on the syllabus of the majority of the Core Technical subjects of the Institute and Faculty of Actuaries, so you’ll cover Core Technical subjects as part of your course (CT2 or CT3, depending on the optional module selected, CT4, CT5, CT6, and CT8). This focus on up-to-date research findings in actuarial methodologies and actuarial applications means that you gain a solid training in actuarial modelling and actuarial analysis.

It is also possible to specialise on a topic of choice, with options including:
-Actuarial and Financial Modelling
-General Insurance
-Life Insurance

You will also have the chance to study a problem in depth through a Master's thesis project on a subject chosen by you or your supervisor.

As part of our Department of Mathematical Sciences you’re a member of an inclusive and approachable research community with an international reputation in many areas including semi-group theory, optimisation, probability, applied statistics, bioinformatics and mathematical biology.

Our expert staff

As well as being world-class academics, many of our academics have won research awards and grants from some of the largest actuarial society’s worldwide, national or regional awards for lecturing, and many of them are qualified and accredited teachers.

Teaching on our course are expert academics and practising actuaries. The key departmental contacts for our MSc Actuarial Science are Keith Bannister, Dr Haslifah Hashim, and Dr Spyridon Vrontos.
-Keith Bannister is a qualified actuary, and a Fellow of the Institute of Actuaries and Faculty of Actuaries; he lectures part-time in Actuarial Science.
-Dr Hashim specialises in life and general insurance, pensions, financial mathematics, enterprise risk management, forensic economics, and Islamic finance and takaful.
-Dr Vrontos specialises in actuarial mathematics and modelling, asset-liability management and performance measurement for pension funds, hedge funds and mutual funds, risk management and solvency, and risk theory.

Specialist facilities

-Unique to Essex is our renowned Maths Support Centre, which offers help to students, staff and local businesses on a range of mathematical problems. Throughout term-time, we can chat through mathematical problems either on a one-to-one or small group basis
-We have our own computer labs for the exclusive use of students in the Department of Mathematical Sciences – in addition to your core maths modules, you gain computing knowledge of software including Matlab and Maple
-We host regular events and seminars throughout the year

Your future

As a new course, we expect our graduates of MSc Actuarial Science to become actuaries in a range of industries. It is predicted by the US Department of Labor that the employment of actuaries is expected to grow faster than any other occupation, making it a great prospect for a graduate job.

Aside from a rewarding career as an actuary (actuaries are in the top ten jobs for 2016, careercast.com), clear thinkers are required in every profession, so the successful mathematician has an extensive choice of potential careers. The Council for Mathematical Sciences offers further information on careers in mathematics.

We also work with the university’s Employability and Careers Centre to help you find out about further work experience, internships, placements, and voluntary opportunities.

We also offer supervision for PhD, MPhil and MSc by Dissertation. We have an international reputation in many areas such as semi-group theory, optimisation, probability; applied statistics, bioinformatics and mathematical biology, and our department is strongly committed to research and to the promotion of graduate activities.

Example structure

Postgraduate study is the chance to take your education to the next level. The combination of compulsory and optional modules means our courses help you develop extensive knowledge in your chosen discipline, whilst providing plenty of freedom to pursue your own interests. Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field, therefore to ensure your course is as relevant and up-to-date as possible your core module structure may be subject to change.

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Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems. Read more
Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems.

Qualifying as an actuary is a passport to a wide variety of careers in insurance companies, investments, pensions, health care and banking – not just in the UK, but throughout the world. Kent is one of a very few universities in the UK to teach the subject.

Our International Master’s programme is fully accredited by the Institute and Faculty of Actuaries. It is equivalent to a Graduate Diploma (which covers the subjects taught within the Postgraduate Diploma in Actuarial Science), followed by the MSc in Applied Actuarial Science.

International Students

This programme is for international students with a good first degree who would like to gain exemptions from subjects in the Core Technical, Core Applications and Specialist Technical Stages of the Institute and Faculty of Actuaries’ examinations.

Visit the website https://www.kent.ac.uk/courses/postgraduate/176/international-masters-in-applied-actuarial-science

About the School of Mathematics, Statistics and Actuarial Science (SMSAS)

The School has a strong reputation for world-class research and a well-established system of support and training, with a high level of contact between staff and research students. Postgraduate students develop analytical, communication and research skills.

In 2010, the Centre for Actuarial Science, Risk and Investment (CASRI) (http://www.kent.ac.uk/casri/index.html) was set up within SMSAS to reflect the widening scope of the teaching and research of the staff. Areas of research interest include economic capital and risk management for financial services firms, mortality and longevity modelling, longevity indices and markets. Other research topics include genetics and insurance, insurance economics, pensions and corporate reporting.

The Centre includes 13 professionally qualified actuaries with many years’ practical experience in insurance and pensions, and who maintain excellent links with the actuarial profession.

Programme aims

This programme aims to:

- provide you with eligibility for subject exemptions from the Core Application and Specialist Technical series of examinations of the Institute and Faculty of Actuaries. This means obtaining a thorough knowledge of core actuarial applications, developing the ability to apply this knowledge in a practical situation and gaining current knowledge and understanding of the practice of major areas in which actuaries are involved

- develop your understanding, knowledge and awareness of current problems, much of which is at the forefront of current professional practice

- ensure you are competent in the use of information technology, and are familiar with computers, together with the relevant software.

Careers

The UK Actuarial Profession
The UK Actuarial Profession is small, but influential and well rewarded. There are more than 6,500 actuaries currently employed in the UK, the majority of whom work in insurance companies and consultancy practices.

Survey results published by the Institute and Faculty of Actuaries (http://www.actuaries.org.uk/becoming-actuary/pages/what-can-actuary-earn) suggest that the average basic salary for a student actuary is £36,842 with pay and bonuses increasingly sharply as you become more experienced. The average basic salary of a Chief Actuary is £209,292.

As an actuary, your work is extremely varied and can include: advising companies on the amount of funds to set aside for employee pension payments; designing new insurance policies and setting premium rates; pricing financial derivatives and working in fund management and quantitative investment research; advising life insurance companies on he distribution of surplus funds; and estimating the effects of possible major disasters, such as earthquakes or hurricanes, and setting premium rates for insurance against such disasters. For more information about the actuarial profession, see http://www.actuaries.org.uk

Employability support
Helping our students to develop strong employability skills is a key objective within the School and the University. We provide a wide range of services and support to equip you with transferable vocational skills that enable you to secure appropriate professional positions within industry. Within the School we run specialist seminars and provide advice on creating a strong CV, making job applications and successfully attending interviews and assessment centres.

Our graduates have gone on to successful careers in the actuarial, finance, insurance and risk sectors.

Professional recognition

Fully accredited by the Institute and Faculty of Actuaries. Students who achieve a high enough overall mark can obtain exemptions from the professional examinations included within their studies.

Find out how to apply here - https://www.kent.ac.uk/courses/postgraduate/apply/

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If you are interested in mathematics and finance and you want to learn how to use mathematics and statistics to solve real financial and actuarial problems, the Master's program in Quantitative Finance and Actuarial Science is the program for you. Read more
If you are interested in mathematics and finance and you want to learn how to use mathematics and statistics to solve real financial and actuarial problems, the Master's program in Quantitative Finance and Actuarial Science is the program for you.

The Master's program in Quantitative Finance and Actuarial Science takes the critical field of risk management as its central theme, examined through the lens of quantitative models. Taught by the leading international academics of Tilburg University, content reflects the forefront of world developments in which:
•Investors weigh risks against returns;
•insurers limit their risks by calculating the appropriate premiums;
•option traders balance their books by calculating the sensitivities of their positions with respect to the relevant risk factors.

Delve into these challenging worlds of continuous time finance, empirical applications, and the actuarial sciences of risk theory and asset liability management - giving you a tool-kit of highly practical skills you can apply throughout your entire financial career.

The Master's program in Quantitative Finance and Actuarial Science offers you:
•The best preparation for a career in the arena
With a Tilburg University Master's degree recognized for its combined academic rigour and industry relevance.

•Great career prospects
The Master’s program in Quantitative Finance and Actuarial Science is one of the programs with the best career prospects. Graduates find work easily, often before graduation, and they earn above average. They work as, for instance, risk management consultants, actuaries or investment analysts. More about the excellent career prospects.

•Customized learning
With a wide range of optional electives available including the possibility to follow courses from the Master's program in Finance or to customize your degree with a specialization in Pensions, Aging and Retirement.

•The possibility to become a fully qualified actuary
After graduation you are eligible to apply for the part-time Executive Master in Actuarial Science offered by TIAS Business School and the Dutch Actuarial Institute.

•Teaching by leading international academics
Giving you a tool-kit of highly practical skills you can apply throughout your entire financial career.

Ranking
#1 in the Netherlands and #10 in Europe in Economics & Econometrics - QS World University Rankings

Future jobs

Your Master's degree in Quantitative Finance and Actuarial Science from Tilburg University will open up extensive career opportunities for you in the private sector, as well as in the public and non-profit sectors.

Graduates of our program currently pursue successful careers at:
•Banks
•Insurance companies
•Pension funds
•Consulting agencies
•Trading firms
•Corporate treasuries and risk control departments
•Regulatory institutions and government bodies.

The Master’s program in Quantitative Finance and Actuarial Science is one of the programs with the best career prospects. Graduates find work easily, often before graduation, and they earn above average.

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In this course you will acquire advance expertise in statistics, econometrics, finance, economics and mathematics. It is designed for recent actuarial graduates and professionals in the early stages of their business careers, who want to pursue actuarial and risk management roles. Read more
In this course you will acquire advance expertise in statistics, econometrics, finance, economics and mathematics.

It is designed for recent actuarial graduates and professionals in the early stages of their business careers, who want to pursue actuarial and risk management roles. The course covers specific areas of actuarial practice, and includes exemptions for Parts I and II of subjects of the Institute of Actuaries of Australia.

As part of the degree, you can choose a wide range of elective units, across the fields of econometrics, actuarial practice, economics, business modelling and finance, which will give you the flexibility to tailor the course to your personal interests and career goals.

As well as developing essential mathematical skills, the course also focuses on developing your wider business awareness skills including, communication, critical thinking, actuarial judgement and professionalism.

The course gives you access to some of Australia's renowned actuarial educators and practising actuaries with extensive industry experience, to ensure your studies focus on current concepts and issues that are relevant to business today.

Find out more: Visit the Faculty of Business and Economics postgraduate website (http://www.buseco.monash.edu.au/postgraduate/).

Visit the website http://www.study.monash/courses/find-a-course/2016/actuarial-studies-4439?domestic=true

Career opportunities

The Master of Actuarial Studies gives you the skills to work across the spectrum of industry sectors, in both Australia and overseas, in risk management and actuarial roles. Graduates have pursued careers as actuaries, forecasters, risk managers, analysts, and advisers in large financial institutions, insurance and risk firms and consultancies across the world.

Professional recognition (Australian)

For further details visit http://www.buseco.monash.edu.au/professional-recognition/.

For more information visit the faculty website - http://www.study.monash/media/links/faculty-websites/business-and-economics

About us

The Department of Econometrics and Business Statistics (EBS) is recognised worldwide as being at the forefront of its discipline areas.

Our outstanding international reputation is supported by our rankings or ratings of:

- No 1 in the Asia-Pacific region for econometrics (RePEC)
- Top 10% institutions in the fields of econometrics and time series by IDEAS
- Highest possible rating (well above world standard) in econometrics for Excellence in Research (ERA) conducted by the Australian Research Council

We are also designated by Monash University as an area of outstanding strength in research. The impact of research has led to the election of seven of our professors into the Academy of Social Sciences in Australia, and the appointment of many of our academic staff to editorial positions for highly ranked journals in econometrics and statistics.

Research capabilities

We boast the largest concentration of econometricians and statisticians in a single department in Australia. This means we have significant levels of expertise in most areas of econometrics and business statistics, including actuarial studies and big data analytics.

Teaching excellence

We pride ourselves on our contemporary and engaging teaching activities. Our academic staff provide quantitative training in all relevant courses offered by Monash Business School.

Engagement and Collaboration

Through our Econometrics and Business Statistics Consulting Service, our academic staff help businesses and government bodies in their planning and decision making.

The Department also maintains strong professional links with the Centre for Development Economics and Sustainability. Through this Centre, our academic staff are engaged in high-impact research focusing on development programs in Indonesia and East Timor.

Find out how to apply here - http://www.study.monash/courses/find-a-course/2016/actuarial-studies-4439?domestic=true#making-the-application

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The Master of Actuarial Science (Specialisation) is a four semester degree that provides students with an undergraduate degree in an alternative field an opportunity to complete Part I with the Actuaries Institute. Read more

The Master of Actuarial Science (Specialisation) is a four semester degree that provides students with an undergraduate degree in an alternative field an opportunity to complete Part I with the Actuaries Institute. Students have the opportunity to undertake a specialisation to assist them to identify as an expert in an area of actuarial science. The recommended specialisation is Big Data, however, students also have the option to choose any other Bond Business School specialisation. The Master of Actuarial Science is taught in smaller classes for personalised attention and unparalleled access to Bond University's Macquarie Trading Room and Bloomberg data-sourcing terminals. The program will develop skills in the challenge of crunching 'big data' numbers to create practical solutions for real world problems. Employment opportunities include working as an investment analyst, portfolio manager or actuarial consultant.

Bond is the only university in Queensland to offer the fully accredited program by the Actuaries Institute

Professional outcomes

The Master of Actuarial Science (Specialisation) will prepare students for rewarding careers in a range of disciplines, including:

  • Climatology
  • Consulting
  • Data Analytics
  • E-Commerce
  • Economics
  • Finance
  • Health
  • Insurance
  • Infrastructure
  • Research
  • Risk Management
  • Safety
  • Science
  • Statistics
  • Superannuation
  • Technology

Structure and subjects

Master of Actuarial Science (Specialisation) students must complete the following eleven subjects:

Plus four subjects from one of the specialisations.

Plus one elective subject 

Students may also choose one of the following opportunities to use one or more of your elective subjects to have an international experience or an Internship opportunity provided you meet the requirements. Please discuss with the Enrolment and Student Engagement Officer in the Student Business Centre.  

  • Study Tour
  • The Study Tour requires approval from the Faculty. (Please note that Additional Costs are associated with this subject).
  • Business Internship
  • The Internship requires a GPA credit average and requires approval from the Faculty with an application to the Career Development Centre.
  • Special Topic
  • The Special Topic is only available in exceptional circumstances and requires Program Director's approval.

Specialisations



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Actuaries are highly skilled quantitative professionals who are primarily concerned with the identification, quantification, analysis, and management of various types of risk, particularly those with long-term financial consequences. Read more

Actuaries are highly skilled quantitative professionals who are primarily concerned with the identification, quantification, analysis, and management of various types of risk, particularly those with long-term financial consequences. Their expertise is essential to the proper management of life, general, and health insurance companies, pension funds, and investment firms, their skills are very highly regarded and valued throughout the financial services industry, and their opportunities to practise worldwide are strong and growing.

On satisfactory completion of the PgDip, students may elect to continue to the award of Master of Science (MSc) by undertaking an appropriate supervised programme of actuarial science research over a period of three months and submitting a corresponding Dissertation.

The University of Southampton is one of only three universities in England to offer such a professionally approved full-time postgraduate actuarial science programme, and is one of only two such within the Russell Group of elite UK universities.

Introducing your course

This postgraduate degree programme provides quantitative graduates with an intensive and coherent programme of specialist education in actuarial science. MSc students also undertake a summer research project in actuarial science or a related discipline.

All of our actuarial science programmes provide students with a professionally recognised education. By doing sufficiently well in corresponding modules, you will kick-start your graduate career with exemption from Subjects CT1-CT8 of the Core Technical professional exams of the Institute and Faculty of Actuaries, which are internationally recognised. On graduation you’ll be well equipped to begin your actuarial career with advanced professional standing, or to follow many other careers that require high-level quantitative skills, including within the wider financial services industry.

Overview

This postgraduate degree programme is designed to provide quantitative graduates with the opportunity to undertake an intensive and coherent programme of specialist education in actuarial science, to gain exemptions from certain of the professional examinations of the Faculty and Institute of Actuaries, the UK professional actuarial body, and to thereby enable graduates of the programme to subsequently enter employment as actuarial analysts with advanced professional standing.

View the programme specification document for this course



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This exciting new 2-year MSc programme is designed to kick-start your career as an actuary, preparing you to take a leading role in managing risk in financial institutions worldwide. Read more
This exciting new 2-year MSc programme is designed to kick-start your career as an actuary, preparing you to take a leading role in managing risk in financial institutions worldwide.

Entry to the actuarial profession is by a demanding series of examinations, but the rewards after qualifying are great. The Institute and Faculty of Actuaries in the UK have four levels of examinations to qualify: The first level, the Core Technical (CT) subjects are taught in Stage 1 and lead to exemptions from CT1 to CT8. Students will typically study CT1, CT5 and can choose from some or all of the remaining CT subjects.

Stage 2 covers the more advanced actuarial subjects and offers exemptions from the syllabuses of the Core Application subjects CA1 and CA3 and Specialist Technical subjects ST2, ST4, ST5, ST6 and ST9. Students will typically study CA1, CA3 and up to three ST subjects (two ST subjects are needed to satisfy the profession's requirements).

Students who successfully meet the progression requirements will then go on to undertake a summer project after Stage 2.

Taking our MSc in Actuarial Science and Management is a great way to speed your progress to this most prestigious of careers - it's designed to take you almost all of the way to qualification. A student who graduates with a full set of exemptions from Heriot-Watt (CT, CA and ST subjects) will only have to pass three more examinations, and gain the necessary work experience, to qualify as a Fellow of the Institute and Faculty of Actuaries.

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