Actuarial Science

The construction of models and solutions for financial, business, and societal problems involving uncertain future events.

Actuarial Science  (ACSC) is concerned with the construction of models and solutions for financial, business, and societal problems involving uncertain future events.

The Actuarial Science Program prepares a student for a career as an actuarial professional.Actuarial practitioners, also known as actuaries, have been described as financial architects and social mathematicians.

Broadly speaking, actuaries forecast the cost of future risks and improve financial decision making by developing models to evaluate the current financial implications of uncertain future events. Actuarial students learn about advanced mathematical and statistical techniques useful for this purpose, but also study topics like actuarial mathematics, demography, economics, marketing, mathematics of investment and finance, pension mathematics, risk management and insurance, and accounting.

By its very nature, the Actuarial Science Program is interdisciplinary and the skill sets developed by an actuarial student are applicable in many business settings and are in high demand.

Most graduates find employment in one of the fields of insurance, employee benefits , pension and management consulting, or banking and finance, and have the option of switching fields during their career.

More information about the actuarial profession is given in the Career Focus section of this document, and on the web sites of the Society of Actuaries (www.soa.org), Casualty Actuarial Society (www.casact.org), Canadian Institute of Actuaries (www.actuaries.ca), and International Actuarial Association (www.actuaries.org). >> Read More

Research Areas

• Actuarial Science
• Analysis