Program Overview

Actuarial Science MSc

The MSc Actuarial Science course is designed for graduates of quantitative disciplines who want to kick-start a career in Actuarial Science. It provides a solid foundation in statistics, financial mathematics, economics, and business finance.

Course Outline

Upon completion of the course, students' knowledge and skills can be applied to a range of industries in financial services, such as insurance, pensions, healthcare, banking, investment, and risk assessment. This course will equip students with the mathematical and statistical knowledge and problem-solving skills necessary to help businesses and institutions with their financial risk portfolio.

The Institute and Faculty of Actuaries have approved programme-level exemption status for this MSc Actuarial Science programme. This exemption refers to the first 6 Core Principles of the new 2019 IFoA curriculum (equivalent to 8 Core Technical subjects in the pre-2019 curriculum). Students may be recommended for exemption from the Institute's own professional examinations in up to 5 of these Core Principle subjects by performing sufficiently well in the corresponding examinations of the MSc programme.

Modules

• ST6001: Theory of Annuities-Certain for Actuarial Science (10 credits)
• ST6005: Life Contingencies for Actuarial Science (10 credits)
• ST6015: Computer Analytical Techniques for Actuarial Applications (5 credits)
• ST6017: Application of Stochastic Methods in Actuarial Science (5 credits)
• ST6020: Actuarial Business & Financial Reporting Methods (5 credits)
• ST6022: Survival Methods for Actuarial Science (5 credits)
• ST6032: Stochastic Modelling Techniques (5 credits)

Elective Modules

• List A (CS1 modules):
  • ST6003: Probability and Mathematical Statistics for Actuarial Science (10 credits)
  • ST6018: Regression and Generalised Linear Model Techniques for Actuarial Science (5 credits)
• List B (CM2 modules):
  • ST6016: Applied Financial Risk Modelling and Analytics for Actuarial Science (5 credits)
  • ST6019: Application of Computational Methods in Actuarial Science and Risk Modelling (5 credits)
  • ST6023: Modelling & Risk Analysis for Actuarial Science (5 credits)

Course Practicalities

The teaching methods include a combination of lectures, tutorials, computer practical work, and directed study. Students can expect approximately 26 hours per week of lectures, tutorials, and directed study in Semesters 1 and 2 and approximately 10 hours per week of directed study in Semester 3.

Assessment

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 Core Principle subject on a student's performance in the final examination.

Why Choose This Course

This is an exciting new course allowing students to kick-start their career in Actuarial Science. It has similar core principle coverage to UCC's very successful undergraduate course, Financial Mathematics and Actuarial Science, which, over the last number of years, has achieved close to 100% employment. Graduates of this MSc course have a similar success rate.

Requirements

• Minimum Second Class Honours Grade II in a primary honours degree (NFQ Level 8) degree in engineering, finance, physical or mathematical sciences, or equivalent, or a degree with a strong numerate content.
• Demonstrated 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 and BSc Risk and Actuarial Studies are not eligible to apply for this course.
• All candidates must ultimately be approved by the programme coordinator.

Fees and Costs

See the Postgraduate EU and Non-EU (International) Fee Schedule for the latest information.

How to Apply

1. Check dates for the application process.
2. Gather supporting documents, including original qualification documents and transcripts.
3. Apply online through the UCC online application portal.

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