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Masters Degrees (Actuarial Science)

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This course is designed for graduates of quantitative disciplines who want to kick-start a career in actuary. It provides a solid foundation in statistics, financial mathematics, economics and business finance. Read more
This course is designed for graduates of quantitative disciplines who want to kick-start a career in actuary. It provides a solid foundation in statistics, financial mathematics, economics and business finance. Upon completion of the course, your knowledge and skills could be applied to a range of industries in the financial services such as insurance, pensions, healthcare, banking, investment and risk assessment.

You will be equipped with mathematical and statistical knowledge and problem-solving skills to help businesses and institutions evaluate the long-term financial implications of the decisions they make. You will also have the opportunity to undertake a minor dissertation involving the study of a number of problems specific to the insurance and financial sector.

The Institute and Faculty of Actuaries has approved programme-level exemption status for the MSc programme in Actuarial Science at UCC in respect of their first 8 Core Technical subjects. Students may be recommended for exemption from the Institute’s own professional examinations in up to 7 of these Core Technical subjects by performing sufficiently well in the corresponding examinations of the MSc programme. UCC is one of the very few universities in Ireland which can offer students the potential to receive this level of exemptions from the professional actuarial examinations.

Visit the website: http://www.ucc.ie/en/ckr46/

Course detail

This is exciting course allows you to kick-start your career in actuary. It has similar core technical coverage to UCC’s very successful undergraduate course, which, over the last number of years, has achieved close to 100% employment. Graduates of this course are expected to also have no difficulty in gaining employment.

Format

The teaching methods used will be a combination of lectures, tutorials, computer practicals and directed study. You can expect to have approximately 22 hours per week of lectures, tutorials and directed study in semesters 1 and 2 and about 10 hours per week of directed study in semester 3.

Part 1

- Core modules (50 credits) -

PA6007 Market Analysis Methods for Actuarial Science (10 credits)
ST6001 Theory of Annuities - Certain for Actuarial Science (10 credits)
ST6002 Applied Financial Reporting Methods for Actuarial Science (10 credits)
ST6003 Probability & Mathematical Statistics for Actuarial Science (10 credits)
ST6004 Mortality Studies and Life Table Analysis for Actuarial Science (10 credits)

- Elective Modules (10 credits) -

ST6006 Insurance Risk Modelling for Actuarial Science (10 credits)
or
ST6010 Current Topics in Statistical Applications to Actuarial Science (10 credits).

*Were a student to enter the programme with sufficient background knowledge, as determined by the programme co-ordinator, in one of the above core modules, then that student would take both electives specified.

Part II

- Core module (20 credits) -

ST6009 Application of Core Technical Research Methodologies in Actuarial Science (20 credits)

- Elective modules (10 credits) -

ST6005 Life Contingencies for Actuarial Science (10 credits)
or
ST6008 Applied Financial Modelling and Risk Stochastics for Actuarial Science (10 credits)

Part-time students take modules ST6001, ST6003 and PA6007 in Year 1 and the remaining modules, including electives where appropriate, in Year 2.

Assessment

All taught modules in this course are assessed via a combination of end-of-module examination and submission of a portfolio of research and directed study.

For actuarial exemption purposes, the appointed actuarial independent examiner will base their recommendations for an exemption in the corresponding CT subject, on a student's performance in the final examination

For the research module (ST6009), you will study a number of problems, specific to the insurance and financial sector, and use the methodologies developed in the earlier modules to analyse such problems and produce oral and written reports on your work.

Careers

An actuarial qualification gives an excellent grounding in subjects like economics, finance, mathematics, and statistics, as well as the more actuarial subjects. This makes actuarial graduates suitable for a range of careers, not just actuarial work.

How to apply: http://www.ucc.ie/en/study/postgrad/how/

Funding and Scholarships

Information regarding funding and available scholarships can be found here: https://www.ucc.ie/en/cblgradschool/current/fundingandfinance/fundingscholarships/

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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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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.

Read less
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/

Read less
Emerging as a key growth sector of the 21st century, actuarial science applies elements of economics, finance, statistics and advanced mathematics to interpret, manage and evaluate risk. Read more

About the program

Emerging as a key growth sector of the 21st century, actuarial science applies elements of economics, finance, statistics and advanced mathematics to interpret, manage and evaluate risk. Never before have organisations had such extraordinary access to personal information, health statistics, buying habits, population movement, employment trends and much, much more. In these numbers lie the answers to the big questions that really matter.

Accredited by the Actuaries Institute, the Master of Actuarial Science is an innovative and immersive program that combines advanced mathematics, statistics, data analytics, actuarial risk theory, finance, economics and accounting subjects with large-scale, real-life commercial data analysis.

Developed and taught by Professor Terence O’Neill, one of Australia’s leading academic authorities in the field, the Master of Actuarial Science will deliver smaller classes for personalised attention and unparalleled access to Bond University's Macquarie Trading Room and Bloomberg data-sourcing terminals.

This program serves as a pathway to the Master of Actuarial Practice.

The Master of Actuarial Science is also available as a Professional program.

See the website https://bond.edu.au/program/master-actuarial-science

Professional outcomes

The Master of Actuarial Science 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

English language proficiency requirements

As tuition is delivered in English, all students will be required to provide documented evidence of the required level of proficiency in the English language. Read more detailed information on English Language Proficiency Requirements for university study https://bond.edu.au/future-students/study-bond/how-apply/information-international-students/english-language-requirements .

Find out how to apply here https://bond.edu.au/future-students/study-bond/how-apply

See the website https://bond.edu.au/program/master-actuarial-science

For contact information see here https://bond.edu.au/program/master-actuarial-science

Read less
Emerging as a key growth sector of the 21st century, actuarial science applies elements of economics, finance, statistics and advanced mathematics to interpret, manage and evaluate risk. Read more

About the program

Emerging as a key growth sector of the 21st century, actuarial science applies elements of economics, finance, statistics and advanced mathematics to interpret, manage and evaluate risk. Never before have organisations had such extraordinary access to personal information, health statistics, buying habits, population movement, employment trends and much, much more. In these numbers lie the answers to the big questions that really matter.

Accredited by the Actuaries Institute, the Master of Actuarial Science (Professional) is an innovative and immersive program that combines advanced mathematics, statistics, data analytics, actuarial risk theory, finance, economics and accounting subjects with large-scale, real-life commercial data analysis. Developed and taught by Professor Terence O’Neill, one of Australia’s leading academic authorities in the field, the Master of Actuarial Science (Professional) will deliver smaller classes for personalised attention and unparalleled access to Bond University's Macquarie Trading Room and Bloomberg data-sourcing terminals.

The professional program follows the same structure as the Master of Actuarial Science program with an additional 20-week Work Integrated Learning component. Work Integrated Learning is a 45 credit point subject designed to promote and support learning, personal development and professional practice. The subject focuses on developing self-analysis and reflective learning skills, and applying theoretical solutions for practical workplace problems.

See the website https://bond.edu.au/program/master-actuarial-science-professional

Professional outcomes

The Master of Actuarial Science (Professional) 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

English language proficiency requirements

As tuition is delivered in English, all students will be required to provide documented evidence of the required level of proficiency in the English language. Read more detailed information on English Language Proficiency Requirements for university study https://bond.edu.au/future-students/study-bond/how-apply/information-international-students/english-language-requirements .

Find out how to apply here https://bond.edu.au/future-students/study-bond/how-apply

See the website https://bond.edu.au/program/master-actuarial-science-professional

For contact information see there https://bond.edu.au/program/master-actuarial-science-professional

Read less
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/

Read less
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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The MSc in Actuarial Science offers students a firm grounding in the fundamentals of actuarial science, including detailed study of the mathematical and statistical techniques used in the insurance, pensions, and financial services industries. Read more
The MSc in Actuarial Science offers students a firm grounding in the fundamentals of actuarial science, including detailed study of the mathematical and statistical techniques used in the insurance, pensions, and financial services industries.

The MSc in Actuarial Science course is accredited by the Institute and Faculty of Actuaries. Cass Business School was the first institution in the UK to have both undergraduate and postgraduate actuarial programmes fully accredited and is also recognised by other actuarial professional bodies around the world. Consequently, students have an opportunity to gain exemptions from up to eight of the Core Technical examinations (Subjects CT1-CT8) of the Institute and Faculty of Actuaries.

The programme is delivered via face-to-face lectures from qualified actuaries, academics and other subject-specialists, complemented by dedicated online support, easy access to faculty members, and advice on study and exam techniques. Lecturers use their commercial experience and research expertise to deliver a challenging, relevant and intellectually stimulating course.

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

Course detail

To satisfy the requirements of the degree programme students must complete:
• at least five out of eight core courses (Terms 1 and 2) and the Research Methods module (Term 1)
and
• five electives in Term 3
or
• one elective and a Business Research Project in Term 3
or
• three electives and an Applied Research Project in Term 3

Format

During the induction period, which is compulsory, a variety of activities are offered to students, to support them in their learning and professional development. Cass Careers offers workshops with a focus on the key skills that employers are looking for, as well as preparing students for the application process. The annual MSc Careers Fair at this time provides the opportunity to meet more than 60 companies who are recruiting across many sectors including insurance, pensions, finance, energy, and other fields. Furthermore, innovative workshops are run on advanced study skills and obtaining practical insight to actuarial work.

Career opportunities

There is a continuous demand for capable postgraduate level executives in the actuarial profession, whose members are among the highest paid in the UK. They work in fields such as insurance companies (life/non-life), consulting firms, government departments, banks and investment firms, teaching and research.

Some examples of where graduates from the MSc in Actuarial Science class of 2014 are working are:

• Generali - Actuarial Analyst
• Mirae Asset - Researcher
• Willis - Graduate Actuarial Analyst
• Towers Watson - 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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The MSc Actuarial Science is a one year full-time programme from September to the following August. Semesters 1 and 2, from September to May, cover the Core Technical subjects 1 to 8 (CT 1-8) and subject Core Applications 1 (CA1) of the examinations of the Institute and Faculty of Actuaries (UK). Read more
The MSc Actuarial Science is a one year full-time programme from September to the following August. Semesters 1 and 2, from September to May, cover the Core Technical subjects 1 to 8 (CT 1-8) and subject Core Applications 1 (CA1) of the examinations of the Institute and Faculty of Actuaries (UK). Depending on your background and subject to the approval of the programme director, you may select between five and eight subjects to study. The Core Technical subjects are as follows:


Financial Mathematics (CT1)
Finance & Financial Reporting (CT2)
Probability and Mathematical Statistics (CT3)
Models (CT4)
Contingencies (CT5)
Statistical Methods (CT6)
Business Economics (CT7)
Financial Economics (CT8)


In semester 3 you will undertake independent research in an area of actuarial science under the supervision of a member of the School of Mathematical Sciences with the aim of submitting a thesis on your research findings at the end of the semester. Depending on your subject choices in semesters 1 and 2 you may also undertake advanced modules in finance at the UCD Smurfit School of Business – the modules offered will vary from year to year but possible topics may include regulation, corporate governance, ethics in finance, asset valuation, and financial management.

This programme runs for one year or 3 semesters.

A short video about the MSc Actuarial Science programme:

https://youtu.be/vJ4CCY1x09M

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The Masters in Actuarial Science at ISEG - Lisbon School of Economics and Management - was designed according to the international requirements for the actuarial profession. Read more
The Masters in Actuarial Science at ISEG - Lisbon School of Economics and Management - was designed according to the international requirements for the actuarial profession. It is meant to cover most of the course materials indispensable for the accreditation of an actuary in the European Union, in accordance with the Group Consultative Core Syllabus, as well as the course materials of exams FM, C, MFE and MLC of the Society of Actuaries.

The programme offers a solid academic foundation in actuarial science, statistics and finance, providing you the skills to become a successful actuary.

If you do sufficiently well in the programme, as determined by an examiner appointed by the Institute and Faculty of Actuaries, you will be exempt from the following UK professional actuarial examinations: CT1, CT2, CT3, CT4, CT5, CT6 and CT8. If you have a BSc from ISEG you may have also exemption from CT7.

During the fourth semester you may take a training post in an insurance company.

It was accredited by the Agency for Assessment and Accreditation of Higher Education - A3ES


Credits: 120 ECTS
Language : English
Application: Online

Core Modules

1st Semester

Computational Tools for Actuaries
Financial Mathematics
Financial Markets and Investments
Probability and Stochastic Processes
Risk Models

2nd Semester

Generalized Linear Models
Loss Reserving
Survival Models and Life Contingencies
Risk Theory
Time Series

3rd Semester

Actuarial Topics
Asset-Liability Management
Finance and Financial Reporting
Models in Finance
Pension Funds
Ratemaking and Experience Raking
Solvency Models

4th Semester

Internship/Project/Dissertation

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Do you enjoy solving problems? Do you enjoy analysing and interpreting large amounts of data and applying this analysis to real business situations? Could you communicate complex financial and risk models to people at a range of levels? A career as an actuary is a highly rewarding one – both financially and intellectually. Read more

Course aims

Do you enjoy solving problems? Do you enjoy analysing and interpreting large amounts of data and applying this analysis to real business situations? Could you communicate complex financial and risk models to people at a range of levels? A career as an actuary is a highly rewarding one – both financially and intellectually.

Actuaries are problem-solvers, business analysts, consultants and risk assessors, all rolled into one. With this degree under your belt, the skills you have learned could be applied to the worlds of insurance, pensions, healthcare, banking, business management and risk assessment. You will be equipped with mathematical and statistical knowledge and problem-solving skills to help businesses and institutions evaluate the long-term financial implications of the decisions they make.

You may already be employed as a trainee actuary within a firm, or be a recent graduate looking to get into the industry, it could be that a career change is your reason for studying this course. Whichever it is, an Actuarial Science degree from the University of Leicester will provide you with a head start within this lucrative career.

By concentrating on both technical expertise and transferable skills (such as communication and problem solving) this postgraduate degree will prepare you for direct entry into the profession and a successful career. You will leave Leicester equipped with the skills and knowledge to evaluate and interpret different forms of data, analyse risk and present your results to a professional audience, and with an understanding of how to apply this knowledge to real problems using the fundamental techniques required by an actuary.

The Actuarial Science programme at Leicester is the only distance learning course accredited by the Faculty and Institute of Actuaries.

This means that if you perform sufficiently well within the examinations for the Postgraduate Diploma qualification, you will be automatically exempt from taking the Institute's CT 1-8 examinations — the first eight exams toward qualifying as a Fellow of the Faculty and Institute of Actuaries.

The University enjoys links with the financial industry including Mercer Human Resource Consulting, NFU Mutual and Pearl Life, ensuring that the course has been developed with the needs of key employers in mind. Graduates of the course will therefore be highly employable.

Course modules

Course structure varies between distance learning and campus-based, please visit the University of Leicester for more details.

Year Three
• Dissertation (MSc only)

Teaching and assessment methods

The course will be delivered through supported distance learning. Materials will be made available electronically via the University’s virtual online learning environment Blackboard and a self containied Wiki based platform. The use of Blackboard will enable you to benefit from visualisations of key concepts through specialist software. Electronic forums and pod-casts will be used to support your learning.

Start Dates

Distance Learning: Every May and October.
Campus-Based: September each year.

(Please note: due to regular enhancement of the University’s courses, please refer to Leicester’s own website (http://www.le.ac.uk) or/and Terms and Conditions (http://www2.le.ac.uk/legal) for the most accurate and up-to-date course information. We recommend that you familiarise yourself with this information prior to submitting an application.)

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The MSc in Actuarial Science provides a strong grounding in the mathematics of actuarial science and addresses both the current and future needs of the industry. Read more
The MSc in Actuarial Science provides a strong grounding in the mathematics of actuarial science and addresses both the current and future needs of the industry. The programme was recently established and incorporates all mathematical techniques, in particular from the fields of probability and statistics, a modern actuary could not do without. Accredited by the Institute and Faculty of Actuaries, the course will offer exemptions to the following Professions Core Technical exams: CT3, CT4, CT6 and CT8. If you are interested in developing a career as an actuary, this programme of study will provide the ideal entry platform into a broad range of employment sectors, such as Insurance, Finance and Risk Management.

Coursework and assessment

There are two teaching semesters of 12 weeks each and approximately 15 weeks of project work. Assessment for the taught part is by exams and coursework.

Career opportunities

If you are interested in developing a career as an actuary, this programme of study will provide the ideal entry platform into a broad range of employment sectors, such as Insurance, Financial and Risk Management.

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Summary. This programme provides an intensive, professional-level, specialist education in actuarial science. Read more

Summary

This programme provides an intensive, professional-level, specialist education in actuarial science. Students performing well in the instructional component (PG Dip) can gain exemptions from Subjects CT1-CT8 of the professional examinations of the Institute and Faculty of Actuaries, which are internationally recognised. Following the instructional component, students can progress to the MSc by successfully completing a three-month supervised project and dissertation/ report component.

Modules

Modules: Probability and Mathematical Statistics; Financial Mathematics; Actuarial Mathematics I; Survival Models; Economics; Stochastic Processes; Mathematical Finance; Actuarial Mathematics II; Statistical Methods in Insurance; Accounting and Finance for Actuarial Science Plus Project and dissertation/report (MSc only)

Visit our website for further information.



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The PG Diploma Actuarial Science is a nine month full-time programme from September to the following May covering the Core Technical subjects 1 to 8 (CT 1-8) and subject Core Applications 1 (CA1) of the examinations of the Institute and Faculty of Actuaries (UK). Read more
The PG Diploma Actuarial Science is a nine month full-time programme from September to the following May covering the Core Technical subjects 1 to 8 (CT 1-8) and subject Core Applications 1 (CA1) of the examinations of the Institute and Faculty of Actuaries (UK). Depending on your background and subject to the approval of the programme director, you may select between five and eight subjects to study. The Core Technical subjects are as follows:


• Financial Mathematics (CT1)
• Finance & Financial Reporting (CT2)
• Probability and Mathematical Statistics (CT3)
• Models (CT4)
• Contingencies (CT5)
• Statistical Methods (CT6)
• Business Economics (CT7)
• Financial Economics (CT8)

This programme runs for one academic year - September to May (2 semesters)

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