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Actuarial Science

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.

Who teaches this course

Our teaching staff include qualified actuaries, leading mathematicians, financial mathematicians and statisticians who are nationally and internationally recognised for their research. This expertise ensures that what we teach you is current and applicable to the real workplace and current economy.

Why Choose This Course

This is an exciting new course scheduled to run for the first time in September 2013. It 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.

Placement or Study Abroad Information

Given the short duration of this course (one year full-time or two year part-time), work placement is not included. However, staff who teach on the course have well-established links with many employers and have actively assisted and advised undergraduate actuarial science students on securing jobs after graduation. Finance and actuarial companies as well as actuarial recruiters regularly visit UCC during term to assist students on securing jobs.

Entry requirements

Minimum 2H2 honours primary degree in engineering, finance, physical or mathematical sciences, or equivalent, or a degree with a strong numerate content (as determined by the course committee)

You will have demonstrated by your performance in relevant modules that you have the numeracy skills required for this MSc degree course to the satisfaction of the course committee.
Graduates with a BSc in Financial Mathematics and Actuarial Science (FMAS graduates) are not eligible to apply for this course.

All candidates must ultimately be approved by the programme coordinator.

In the case of competition for places, selection will be made on the basis of your primary degree results and interview performance (if required).

If you are applying with Qualifications obtained outside Ireland and you wish to verify if you meet the minimum academic and English language requirements for this programme please click here to view the grades comparison table by country and for details of recognised English language tests.

Non-EU Candidates

Non-EU candidates are expected to have educational qualifications of a standard equivalent to Irish university primary degree level. In addition, where such candidates are non-native speakers of the English language they must satisfy the university of their competency in the English language. To verify if you meet the minimum academic requirements for this programme please visit our qualification comparison pages.

For more detailed entry requirement information please refer to the International website .

Duration

1 year full-time or 2 years part-time.

Additional Teaching Mode Information

The part-time option will be taught during weekday working hours over 2 years.

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.

Careers or further progression

Skills and Careers Information

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.

Further enquiries

Contact details for this course
Dr. Liang Chen
liang.chen@ucc.ie
+ 353 21 420 5841

Subjects taught

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 method

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.

Application date

Closing dates

Closing Dates for Application

Applications for 2018 start dates will open on November 1st 2017.

EU Applicants: UCC operates a rounds closing date system for the majority of postgraduate taught programmes (detailed below).

Some programmes have a specific closing date. Applicants are advised to consult with the postgraduate prospectus for programmes with a specific closing date.

The UCC rounds EU application system closing dates for Postgraduate Taught courses are detailed below. However, we would advise applicants to apply as soon as possible.

Deadline for receipt of Applications: Offers will be made:
For all completed applications received by January 15th 2018 Offers will be made by January 29th 2018

For all completed applications received by March 1st 2018 Offers will be made by March 15th 2018

For all completed applications received by May 1st 2018
Offers will be made by May 15th 2018

For all completed applications received by July 2nd 2018
Offers will be made by July 16th 2018

Late applications may be accepted on a first-come, first-served basis for any courses that have remaining capacity for places.

While there is no official closing date for Research courses applicants are advised to submit their application at least two months ahead of their proposed start date. There are four official Research start dates – September/October, January, April and July.

Non-EU Applicants:

Please visit the following page for further information for Non EU applicants http://www.ucc.ie/en/international/studyatucc/postgraduateprogrammes/tau...

Enrolment and start dates

Start Date: 10th September 2018

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