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Actuarial Science


Course Description

This 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. Ranked top job in 2013 (as reported by Wall Street Journal), actuaries are in high demand in light of the need for sound decision making in the ever-changing financial markets. The rewards in terms of job satisfaction and earning potential make this an excellent career choice.

Established in 1972, we were the first UK university to introduce a dedicated programme in Actuarial Science, and have since evolved to become highly renowned as a world-leading centre in actuarial and financial teaching and research.
Exemptions

The programme is fully accredited by the UK Institute and Faculty of Actuaries, offering a valuable opportunity to gain exemptions from the Core Technical (CT1-CT8) examinations. There are 12 courses available which correspond in total to CT1-CT8 of the actuarial professional syllabus. To meet university award requirements you must pass at least 8 of the 12 listed below. To achieve exemption from all of CT1-CT8 you must pass all 12 courses.

Financial Mathematics - CT1
Finance and Financial Reporting - CT2
Economics - CT7
Statistical Methods - CT3
Life Insurance Maths 1 & 2 - CT5
Stochastic Modelling/Survival Models - CT4
Risk Theory/Time Series Analysis - CT6
Financial Economics 1 & 2 - CT8

Our expert staff, many of whom are qualified actuaries, will guide and support you throughout your studies. You will benefit from their extensive business knowledge and research expertise, whilst gaining hands-on experience of solving real-life financial problems through interactive lectures, tutorial sessions and practical coursework. The MSc summer project gives you the opportunity to explore in greater depth the hot topics currently facing business, such as Solvency II and pensions autoenrolment. Our close links to industry through the Scottish Financial Risk Academy also creates the potential for undertaking a summer placement within Edinburgh's thriving financial sector.

We have an excellent record of preparing students for successful careers - recent statistics show that around 90% of our postgraduate students were either in full-time employment or further study within 6 months of graduation. Our students consistently rate us highly - the Sunday Times University Guide 2013 named us "UK University of the Year for Student Experience" as well as "Scottish University of the Year" for the second year running.

We are very proud of our award-winning Students' Actuarial Society which is entirely managed, enthusiastically and professionally, by our students. As well as arranging a series of topical presentations by industry professionals, and popular social events, the Society's highly anticipated Annual Actuarial Conference attracts speakers and attendees from around the world.

Visit the Actuarial Science page on the Heriot-Watt University website for more details!

Student Profiles
(Scholarship)

School of Mathematical and Computer Sciences Early BIrd Scholarship - No. of awards TBC

The School of Mathematical and Computer Sciences are offering a 10% scholarship to all applicants who accept their offer (conditional or unconditiona), before 31st March 2014. The award will be given as a tuition fee discount and applied directly to your tuition fee account after enrolment.

Value of Scholarship(s)

10% discount on the tuition fee cost of your programme

Eligibility

Early Bird scholarships will be awarded to all self-funding applicants who accept their place on a taught MSc programme in the Department of Actuarial Mathematics and Statistics or the Department of Mathematics before 31st March 2014.

Application Procedure

Please return your Reply to Offer form before 31st March 2014 to indicate your acceptance of our offer and you will automatically qualify for the scholarship.

Further Information

http://www.hw.ac.uk/student-life/scholarships/a-z/3416_393735.htm


(Scholarship)

MACS Postgraduate Scholarships - No. of awards TBC

Colin Maclaurin Scholarship – some scholarships of £3,500 will be awarded to outstanding applicants to our MSc in Actuarial Science and MSc in Actuarial Management. Jacob Bernoulli Scholarship – 4 scholarships of either a 10% or 15% discount on the tuition fee cost will be awarded to outstanding applicants to our MSc in Quantitative Financial Risk Management. Thomas Gresham Scholarship – significant scholarships will be awarded to outstanding applicants to our MSc in Quantitative Financial Engineering. There is no need to apply – these will be awarded on the basis of outstanding academic merit. Mathematics Scholarship – 3 scholarships of £3,000 will be awarded to outstanding overseas applicants to any of our Mathematics MSc programmes. 1 scholarship of £1,000 will be awarded to an outstanding Home/EU applicant to any of our Mathematics MSc programmes.

Value of Scholarship(s)

Variable

Eligibility

Home, EU and Overseas applicants are all eligible to apply for any of the following scholarships. These will be awarded based on outstanding academic merit and financial circumstance.

Application Procedure

Please apply using our online scholarship application form and include information about your academic achievements, motivation for study and financial circumstance. Applications must be submitted before 31st March 2014 and supported by an academic reference - this should be sent directly from the referee by email to

Further Information

http://www.hw.ac.uk/student-life/scholarships/a-z/3416_323136.htm


(Scholarship)

Postgraduate Taught Funded Places - 10 Awards

The School of Mathematical and Computer Sciences have funding for a number of postgraduate scholarships for the academic year 2015-16 for students who are permanently domiciled in Scotland. The scholarships will cover the full tuition fee cost for studying in 2015/16 and are available for specific programmes which have been selected to support the skills demands in Scotland's key economic growth areas.

Value of Scholarship(s)

Variable

Eligibility

According to the terms of the Scottish Funding Council (SFC), you are eligible to apply for a place if you have been living in Scotland for a continuous period of 3 years prior to 1 August 2015. Please note that this does not include residency for the purposes of study only.

Application Procedure

You should apply for the relevant MSc/PG Diploma programme online. Please state your interest for a Postgraduate Taught Funded Place in the 'Additional Information' section of the form. Please also complete and submit a Postgraduate Taught Funded Place application form. This additional form can be completed electronically or printed but must be submitted to us via email or post no later than 1st June, 2015. If you have already applied for your MSc/PG Diploma programmes then please quote your application reference number on your Funded Place application form.

Following the deadline, funded places will be awarded to those applicants where we consider the funding will make a difference to them being able to study at postgraduate level. If there are any unfilled places after this first deadline we may re-advertise for additional applications by a new deadline.

If you have any queries, please email

Further Information

http://www.hw.ac.uk/student-life/scholarships/postgraduate-funded-places.htm



Entry Requirements

The programme is primarily intended for graduates with a strong mathematical background. Our normal minimum entry requirement is the equivalent of a UK 2.1 degree in mathematics, statistics or a related subject with a high mathematics or statistics content. We are also looking for students who are keen to join the actuarial profession, have a willingness to work hard and a drive to succeed.

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