MSc in Actuarial Science
Queen's University Belfast - Faculty of Arts, Humanities and Social Sciences
Key Information
Campus location
Belfast, United Kingdom
Languages
English
Study format
On-Campus
Duration
1 year
Pace
Full time
Tuition fees
GBP 23,099 / per year *
Application deadline
Request info
Earliest start date
Sep 2024
* Northern Ireland, Republic of Ireland, England, Scotland or Wales: £8,360 | EU Other and International: £23,100
Introduction
The MSc Actuarial Science is a full-time postgraduate programme aimed primarily at students with undergraduate degrees in the disciplines of maths, statistics, finance or any other programme with 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.
Industry Links
The Society of Northern Ireland Actuaries (SoNIA) is a regional society for local actuaries. It aims to offer a forum for Northern Ireland-based actuaries and student actuaries to share opinions on actuarial topics, providing a networking opportunity.
Internationally Renowned Experts
Students have the opportunity to engage with industry professionals who regularly deliver guest lectures.
Student Experience
The Student Managed Fund gives students the opportunity to manage a real money portfolio where they do the research and decide on their investment strategy.
Gallery
Admissions
Curriculum
The MSc Actuarial Science is a full-time postgraduate programme aimed primarily at students with undergraduate degrees in the disciplines of maths, statistics, finance or any other programme with 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
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 and executive directors and investors.
Semester 1
- Actuarial Mathematics 1
- Statistics
- Financial Reporting
- Statistics for Insurance
Semester 2
- Actuarial Mathematics 2
- Economics
- Actuarial Modelling
- Computational Methods in Finance
Semester 3
- Applied Research Project
Program Tuition Fee
Career Opportunities
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 projects 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 BSc Actuarial Science and Risk Management 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 impending withdrawal from the European Union. Another primary driver for the demand for actuaries has been changed in legislation. A recent example is the implementation of Solvency II for the insurance industry, which caused a spike in 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 2022, 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 to actuaries, these new tools will enable actuaries to help their clients make better decisions, which contributes to the positive outlook for actuaries in the long term.
Degree plus 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 Degree Plus. It's what makes studying at Queen's University Belfast special.