Program Overview

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Actuarial Science Degree

The Actuarial Science degree at the University of Waterloo is designed to provide students with a comprehensive education in actuarial science, mathematics, and computer science. This program is accredited by the Canadian Institute of Actuaries, allowing students to be exempted from several exams for their actuarial designation.

Overview

In this program, students will take courses such as the mathematics of finance, risk theory, and pension mathematics taught by professional actuaries. The program also offers a combination of technical and communication skills that employers are looking for. Students can choose between the regular stream or the co-op stream, both of which will prepare them for a great job market with high starting salaries.

Courses

First-Year Courses

• MATH 135 – Algebra for Honours Mathematics
• MATH 137 – Calculus 1 for Honours Mathematics
• Choose one course from:
  • CS 115 – Introduction to Computer Science 1
  • CS 135 – Designing Functional Programs
• MTHEL 131 – Introduction to Actuarial Practice
• One communication skills course

January to April

• MATH 136 – Linear Algebra 1 for Honours Mathematics
• MATH 138 – Calculus 2 for Honours Mathematics
• Choose one course from:
  • CS 116 – Introduction to Computer Science 2
  • CS 136 – Elementary Algorithm Design and Data Abstraction
• Two electives

Sample Upper-Year Courses

• ACTSC 372 – Investment Science and Corporate Finance
• ACTSC 431 – Casualty and Health Insurance Mathematics 2
• ACTSC 432 – Credibility and Risk Theory
• ACTSC 445 – Quantitative Enterprise Risk Management
• ACTSC 454 – Longevity and Mortality Using Predictive Analytics
• ACTSC 455 – Life Contingencies 3

Customizing Your Degree

Students can add additional areas of expertise to their degree by including one of two available specializations:

• Finance Specialization
• Predictive Analytics Specialization

Students can also include one or more of the minors available to all Waterloo students.

Co-op Program

Waterloo's co-op program offers students the opportunity to gain relevant paid work experience. The program has the largest selection of jobs in North America and allows students to explore potential careers, learn to interview for jobs, and graduate with up to two years of valuable experience.

Sample Co-op Job Titles

• Finance and accounting analyst
• Web solutions developer/technical analyst
• Defined benefits pension administrator
• Programmer enterprise portfolio management
• Actuarial analyst
• Data scientist
• Insurance associate

Co-op Work-Study Sequence

Starting in second year, students will normally alternate between school and work every four months, integrating their classroom learning with real-world experience.

Career Opportunities

Waterloo Actuarial Science graduates commonly pursue careers in finance, management, education, actuary, risk analysis, and consulting. They often work at insurance companies, financial institutions, schools, and more.

Recent Graduates

• Financial Business Analyst — BMO Bank of Montreal
• Senior Actuarial Analyst — Sun Life Financial
• Advisory Analyst — State Farm Insurance Company
• Risk Modelling Analyst — TD Securities
• Actuarial Associate — Manulife Financial
• Actuarial Analyst — Munich Reinsurance
• Head, Operations — Visionary Semiconductor

Admission Requirements

Ontario students: six Grade 12 U and/or M courses including:

• Advanced Functions
• Calculus and Vectors
• Any 4U English
• One other 4U course

Recommended course: Grade 11 U Introduction to Computer Science

Admission averages: Individual selection from the mid-80s

How to Apply

Apply to Mathematics and choose Actuarial Science as your major at the end of first year. There are supplementary information forms, including the Admission Information Form, which are required for admission.

Student Life

The University of Waterloo offers a wide range of clubs, services, and social and academic events to make your experience as a Waterloo math student the best it can be. Some examples include:

• Math Society (MathSoc)
• Hack the North
• Women in Mathematics (WiM)
• Women in Computer Science (WiCS)

Faculty

The Actuarial Science program is offered by the Faculty of Mathematics.

Degree

The degree offered is a Bachelor of Mathematics in Actuarial Science.

Available as a Co-op Program

Yes, the Actuarial Science program is available as a co-op program.

Available as a Regular Program

Yes, the Actuarial Science program is available as a regular program.

Available as a Minor

No, the Actuarial Science program is not available as a minor.