MSc Applied Actuarial Science (International Masters)

Stage 1

Introduction to Excel

Stage 2

• Actuarial Risk Management 1
• Actuarial Risk Management 2
• Communications

Programme aims

This programme aims to:

• provide you with eligibility for subject exemptions from the Core Practices and Specialist Principle series of examinations of the Institute and Faculty of Actuaries. This means obtaining a thorough knowledge of core actuarial applications, developing the ability to apply this knowledge in a practical situation and gaining current knowledge and understanding of the practice of major areas in which actuaries are involved
• develop your understanding, knowledge and awareness of current problems, much of which is at the forefront of current professional practice
• ensure you are competent in the use of information technology, and are familiar with computers, together with the relevant software.

Learning outcomes

Knowledge and understanding

You will gain knowledge and understanding of:

• complex techniques applicable to the solution of problems in all the major areas of current professional actuarial practice
• complex current issues in all the major areas of current professional practice.

Intellectual skills

You develop intellectual skills in:

• the ability to demonstrate a high level of understanding of the main body of knowledge for the programme
• the ability to demonstrate skill in calculation and manipulation of the material written within the programme
• the ability to apply a range of concepts and principles in various contexts
• the ability for logical argument
• the ability to demonstrate advanced skills in solving problems in complex situations by various appropriate methods
• the ability to work with relatively little guidance.

Subject-specific skills

You gain subject-specific skills in:

• the specific mathematical and statistical techniques used in actuarial science, and in their application to solving actuarial problems
• understanding the practical applications of programme material in insurance.

Transferable skills

You will gain the following transferable skills:

• communication: the ability to organise information clearly, respond to written sources, present information orally, adapt style for different audiences and use images as a communication tool
• numeracy: make sense of statistical materials, integrate numerical and non-numerical information, understand the limits and potentialities of arguments based on quantitative information
• information technology: produce written documents, undertake online research, communicate using email
• improve your learning: explore your strengths and weaknesses, time management, review your working environment (especially the student-staff relationship), develop specialist learning skills (eg foreign languages), develop autonomy in learning
• problem-solving: identify and define problems, explore alternative solutions and discriminate between them
• working with others: define and review the work of others, work co-operatively on group tasks, and understand how groups function
• make sound judgements
• make decisions in complex situations.

The UK Actuarial Profession

The UK Actuarial Profession is small but influential and well-rewarded. There are more than 6,500 actuaries currently employed in the UK, the majority of whom work in insurance companies and consultancy practices.

Undersøgelsesresultater offentliggjort af Instituttet og Fakultetet for Aktuarer tyder på, at den gennemsnitlige grundløn for en studerende aktuar er £35.936 med løn og bonusser, der stiger kraftigt, efterhånden som du bliver mere erfaren. Den gennemsnitlige grundløn for en chefaktuar er £206.236.

Som aktuar er dit arbejde ekstremt varieret og kan omfatte: rådgivning af virksomheder om antallet af midler, der skal afsættes til medarbejdernes pensionsudbetalinger; design af nye forsikringspolicer og fastsættelse af præmiesatser; prisfastsættelse af finansielle derivater og arbejde med fondsforvaltning og kvantitativ investeringsundersøgelse; rådgivning af livsforsikringsselskaber om fordeling af overskydende midler; og estimering af virkningerne af mulige større katastrofer, såsom jordskælv eller orkaner, og fastsættelse af præmiesatser for forsikring mod sådanne katastrofer.

Employability support

Helping our students to develop strong employability skills is a key objective within the School and the University. We provide a wide range of services and support to equip you with transferable vocational skills that enable you to secure appropriate professional positions within the industry. Within the School we run specialist seminars and provide advice on creating a strong CV, making job applications and successfully attending interviews and assessment centres.

Our graduates have gone on to successful careers in the actuarial, finance, insurance and risk sectors.

Professional Recognition

Fuldt akkrediteret af Instituttet og Fakultetet for Aktuarer. Studerende, der opnår en tilstrækkelig høj samlet karakter, kan opnå dispensation fra de faglige prøver, der indgår i deres studier.

How you'll study

Teaching and assessment

Bedømmelse er en kombination af kurser og skriftlige prøver.