Actuarial science is a special discipline for training students to apply mathematical skills and statistical techniques to study uncertain future events, especially those of concern to insurance and pension programs. The Actuarial Sciences concentration in the Professional Science major is a relatively new master’s program at MTSU. The program offers training so that students can make practical use of probability theory and statistical analysis for managing risks and solving problems. An internship takes the place of writing a thesis. Actuaries may work for insurance companies, consulting firms, government, employee benefit departments of large corporations, hospitals, banks and investment firms, or, more generally, in businesses that need to manage financial risk. A career as an actuary is better described as a "business" career with a mathematical basis rather than as a "technical" mathematical career. The occupation of actuary has been ranked for many years as one of the best jobs based on a variety of factors.
The Master of Science (M.S.) with a major in Professional Science includes a business core with specific concentrations in Actuarial Sciences, Biostatistics, Biotechnology, Engineering Management, Geosciences, and Health Care Informatics.
The Professional Science Master's, as it is commonly called, combines the business management skills commonly found in the traditional M.B.A. type program with advanced learning in specific science fields.
This interdisciplinary program is a partnership among the College of Basic and Applied Sciences, College of Behavioral and Health Sciences, College of Liberal Arts, and the Jennings A. Jones College of Business.
The concentration in Actuarial Sciences offers preparation, basic knowledge, and professional skills to individual who want to work as an actuary and to pass actuarial professional examinations. Career A master's degree from MTSU in Professional Science with a concentration in Actuarial Sciences can lead to opportunities for becoming an actuary, a career that is well paying and in high demand. Graduates are well positioned to fill the growing need for individuals with this highly specialized training in the financial services and consulting industries in addition to the traditional insurance and health care industries. Examples of potential positions include:
Actuarial analyst Actuarial auditing Annuity pricing actuary Chief actuary and vice president Consulting actuary Data analyst Financial actuary General liability actuary Health actuary Investment researcher Investment valuation Life reinsurance pricing Life valuation Model validation financial actuary Mortality valuation Product actuary Risk and hedging Risk management Specialty pricing actuary Underwriting
Employers of MTSU alumni include:
Acuff & Associates Aetna Alfa Insurance American General Life and Accident Insurance Co. Bank of China Blue Cross Blue Shield of Tennessee BPS&M – Wells Fargo Commercial, Brentwood Caterpillar Finance China Actuarial Society China PingAn Insurance Cigna Consumers Insurance Direct General Group of Companies Farm Bureau Insurance Farmers Insurance First Acceptance Insurance Genworth Financial Humana Inc., Kentucky Humana Inc., Texas Lincoln Financial Group Nationwide Insurance Select Actuarial Services Sigma Actuarial Consulting Group, Inc. State Farm Insurance Tower and Watson, Memphis Tower and Watson, Atlanta Travelers Insurance Willis North America Inc. Zurich Insurance