Actuarial Science

Overview
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.

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

The programme encompasses 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 Institute and Faculty of Actuaries’ IFoA professional exams (CM1-2, CB1-2 and CS1-2) in addition to undertaking postgraduate study.

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.

Subjects taught

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

Entry requirements

Graduate
Normally a 2.1 Honours degree or equivalent qualification acceptable to the University in a highly quantitative discipline such as Mathematics, Statistics, Finance, Computer Science, Actuarial Science or Economics. This MSc requires prior mathematical knowledge therefore a strong performance in quantitative modules with mathematical content is required. Applicants must normally have achieved 2:1 standard or above in relevant modules such as Calculus; Linear Algebra; Differential equations; Probability; Statistics; Econometrics.

Applicants are advised to apply as early as possible and ideally no later than 16th August 2024 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.

Duration

1 year full-time

Enrolment dates

Entry Year: 2024/25

Post Course Info

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.

Actuaries primarily work in insurance and financial services, which are heavily regulated and require a number of statutory disclosures. Graduates from the Actuarial Science programme obtain employment across the world, but particularly in Dublin and London. 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 was implemented in 2023 and there is a healthy demand for actuaries to help insurance companies embed 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.

For further opportunities to enhance your studies and career prospects please see the school website.
https://www.qub.ac.uk/schools/queens-business-school/student-opportunities/

More details
  • Qualification letters

    MSc

  • Qualifications

    Degree - Masters at UK Level 7

  • Attendance type

    Full time,Daytime

  • Apply to

    Course provider