The general track in the ASMF Master's programme provides an excellent grounding for your career as an actuary or risk manager. What makes this one-year programme unique is its range of courses, which incorporate all the latest international developments, - think of Big Data Science, Market-Consistent Pricing, Systemic Risk Modelling, and Behavioral Insurance and Finance - as well as the most up-to-date techniques, practices and insights you will need to begin your career.
This track in brief
The University of Amsterdam has an exceptionally strong tradition in the Actuarial Science and Quantitative Risk Management domain that is unmatched in The Netherlands. Internationally leading experts conduct world-class research here; we pride ourselves in our strong links to and support from the insurance and financial institutions of the world.
The Master’s in Actuarial Science and Mathematical Finance is a one-year programme of 60 ECTS credits (1 ECTS credit = 0.5 US credits). The academic year runs from September to the beginning of July and is divided into two semesters, each with three periods.
The year begins with a set of four mandatory courses in periods 1 and 2 of the first semester. Financial Mathematics for Insurance teaches you the basic principles of asset pricing and risk mitigation, while Non-Life Insurance: Statistical Techniques covers statistical techniques such as generalized linear models and IBNR models. Risk Management for Insurers and Pensions provides an in-depth treatment of the principles of (quantitative) risk management for insurers and pensions. The workings of pension insurance and the economic role of pension funds is covered in the Actuarial Science of Pensions course. If you are interested in the application of Big Data in insurance rather than becoming a member of the Royal Dutch Actuarial Society, you can take a Big Data Science elective course instead. You may also choose a 5 or 6 EC elective course in period 3.
During the second semester, you will extend your expertise by following advanced courses in Asset Liability Management – Cases and either a course Caput Financing of Pensions or one about Big Data, plus a choice of elective courses, before completing your Master’s thesis.
The Master’s thesis is the final piece of work you will be required to complete prior to graduation. Your thesis must be individually written and will be supervised by one of the Actuarial Science and Mathematical Finance researchers within the Department of Quantitative Economics. It must be based on a study of relevant literature or on a research internship at a firm. The programme offers a structured thesis process, which enables you to finish your Master’s degree within the given year.
Internships and exchange
Students who have completed the curriculum of the ASMF track will have the possibility of doing an internship or go on exchange. This especially gives international students a unique opportunity to experience the Dutch labour market.
What can you expect to achieve once you have completed your Master’s in Actuarial Science and Mathematical Finance? This programme is your ticket to excellent career prospects. You may find employment working as an actuary or a risk manager with a financial institution, such as an insurance company, a pension fund, or an investment or retail bank, a consultancy firm, a corporate, or a regulatory or government institution.
The actuarial profession is currently one of highest rewarding in the labour market. In recent years, the mathematical and specialist modelling skills of the actuary have also seen increasing demand from companies outside the insurance world.
The general track in Actuarial Science and Mathematical Finance provides a good foundation for continuing into a PhD programme and by following our excellent APC Post-master programme, you may also qualify for membership of the Royal Dutch Actuarial Society.
ASMF graduates can be found in a wide variety of organisations, including:
- insurance companies;
- pension funds;
- investment and retail banks;
- consultancy firms;
- regulatory authorities;
- government institutions.
This school offers programs in:
Last updated October 16, 2018