Actuarial Science

The MSc Actuarial Science is a full time postgraduate programme aimed primarily at students with undergraduate degrees from the disciplines of maths, statistics, finance or any other programme with a high mathematical content.

The programme will encompass new and existing modules across the areas of actuarial mathematics, statistics, economics and finance, to provide graduates with the knowledge and skills to pursue a career as an actuary. This programme will provide students who have not undertaken an undergraduate Actuarial Science degree with the opportunity to accrue exemptions from six of the earlier IFoA professional exams (CM1-2, CB1-2 and CS1-2) in addition to undertaking postgraduate study.

Professional Accreditations
Subject to academic performance, students can gain up to six exemptions from the Institute and Faculty of Actuaries (IFoA) professional exams.

Course Structure
The MSc Actuarial Science is a full time postgraduate programme aimed primarily at students with undergraduate degrees from the disciplines of maths, statistics, finance or any other programme with a high mathematical content.

The programme will encompass modules across the areas of actuarial mathematics, statistics, economics and finance, to provide graduates with the knowledge and skills to pursue a career as an actuary. This programme will provide students who have not undertaken an undergraduate Actuarial Science degree with the opportunity to accrue exemptions from six of the earlier IFoA professional exams (CM1-2, CB1-2 and CS1-2) in addition to undertaking postgraduate study.

Course Structure
Students pursuing a career in Actuarial Science should enjoy working with numbers, be effective communicators and work well with people as they will have to analyse and interpret financial and other information to meet the needs of different users, including clients, executive directors and investors.

Semester 1
• Actuarial Mathematics 1
• Actuarial Statistics
• Corporate Finance
• Economics

Semester 2
• Actuarial Mathematics 2
• Statistics for Insurance
• Actuarial Modelling
• Computational Methods in Finance

Semester 3
• Applied Research Project

Graduate
Normally a 2.1 Honours degree or equivalent qualification acceptable to the University in a highly quantitative discipline such as Mathematics, Statistics, Finance or Economics. A strong performance in quantitative modules is required.

English Language Requirements
Evidence of an IELTS* score of 6.5, with not less than 5.5 in any component, or an equivalent qualification acceptable to the University is required. *Taken within the last 2 years

International students wishing to apply to Queen's University Belfast (and for whom English is not their first language), must be able to demonstrate their proficiency in English in order to benefit fully from their course of study or research. Non-EEA nationals must also satisfy UK Visas and Immigration (UKVI) immigration requirements for English language for visa purposes.

For more information on English Language requirements for EEA and non-EEA nationals see: www.qub.ac.uk/EnglishLanguageReqs.

If you need to improve your English language skills before you enter this degree programme, INTO Queen's University Belfast offers a range of English language courses. These intensive and flexible courses are designed to improve your English ability for admission to this degree.

• Academic English: an intensive English language and study skills course for successful university study at degree level

• Pre-sessional English: a short intensive academic English course for students starting a degree programme at Queen's University Belfast and who need to improve their English.

Applicants are advised to apply as early as possible and ideally no later than 11th August 2023 for courses which commence in late September. In the event that any programme receives a high number of applications, the University reserves the right to close the application portal. Notifications to this effect will appear on the Direct Application Portal against the programme application page.

Please note: international applicants will be required to pay a deposit to secure a place on this course.

How to Apply
Applications should be submitted online via the Postgraduate Applications Portal for admission to the vast majority of postgraduate programmes.

New applicants will need to register via the Portal to create an application account. If you are already a Queen's student with an active Qsis account, you can log in using your student number and Qsis password. Guidance on how to complete an application is provided within the Portal and it is possible to save application data and return to complete it at a later date, if you wish. After core details about yourself and your academic background have been provided, you can submit an application, or multiple applications, if required.

If you applied in a previous cycle through the Portal and are re-applying, you should use your previous log in details. Please review and update your personal and contact details, academic and professional qualifications before submitting a new application.

Important – please ensure that the email address you provide is correct and active, as this will be used by us to communicate the progress of your application to you.

1 academic year full-time

Career Prospects
Employment after the Course
Actuaries are constantly in demand and their skills are continually included in highly skilled occupation listings and for skills in demand listings. The Bureau of Labour Statistics project that employment of actuaries is expected to increase by 20% between 2018 and 2028, which is deemed to be faster than other occupations.

Actuaries primarily work in insurance and financial services, which are heavily regulated and require a number of statutory disclosures. The majority of graduates from the Actuarial Science programme obtain employment in the Republic of Ireland and in particular Dublin. Dublin has seen an influx of financial services companies either entering the market for the first time or increasing their footprint in Ireland, as a result of the United Kingdom's withdrawal from the European Union. Another primary driver for the demand for actuaries has been changes in legislation. A recent example is the implementation of Solvency II for the insurance industry, which caused a spike in the demand for actuaries and enabled actuaries to develop new transferable skills. Furthermore, the International Accounting Standards Board has published the new accounting standard for insurance contracts, IFRS 17. This standard is due to be formally implemented in 2023 and there is a healthy demand for actuaries to help insurance companies prepare for the standard.

Finally, with the growth in data science and Insurtech, new, more technology based opportunities are available for actuaries. Rather than automation being a threat for actuaries, these new tools will enable actuaries to help their clients make better decisions, which contribute to the positive outlook for actuaries in the long term.

Graduate Plus/Future Ready Award for extra-curricular skills
In addition to your degree programme, at Queen's you can have the opportunity to gain wider life, academic and employability skills. For example, placements, voluntary work, clubs, societies, sports and lots more. So not only do you graduate with a degree recognised from a world leading university, you'll have practical national and international experience plus a wider exposure to life overall. We call this Graduate Plus/Future Ready Award. It's what makes studying at Queen's University Belfast special.