Program Overview

Introduction to Actuarial Science

Actuaries are professionals who utilize their mathematical, statistical, and financial skills to solve financial problems involving future uncertainty. They assess and manage risk, making them versatile professionals with a wide range of career opportunities. The primary areas of practice for actuaries include:

• Insurance industry (life and health insurance, property/casualty insurance, annuities)
• Consulting, offering advice on pension plans, employee benefit schemes, and financial planning
• Government agencies, supervising insurance companies, designing social security programs, and projecting costs
• Other areas, such as reinsurance, investment companies, banks, universities, and large corporations

Professional Examinations

To become an actuary, one must complete a series of professional examinations. For the life insurance and pension areas, the examinations are jointly sponsored by the Canadian Institute of Actuaries and the Society of Actuaries. For the property and casualty areas, the examinations are offered by the Casualty Actuarial Society in consultation with the Canadian Institute of Actuaries.

Actuarial Science at SFU

The Department of Statistics and Actuarial Science offers major and honours programs leading to a bachelor of science in Actuarial Science. These programs prepare students for most of the Society of Actuaries' associateship-level examinations (exams P, FM, IFM, STAM, LTAM, and SRM) and build critical skills in communication, exposing students to various opportunities in research and industry.

Program Details

• Undergraduate Programs: The department offers undergraduate programs in Statistics, Actuarial Science, and Data Science.
• Graduate Programs: Graduate programs include Statistics M.Sc., Statistics Ph.D., and Actuarial Science M.Sc.
• Research Areas: Concentrations in Statistics, Actuarial Science, and Data Science are available, with seminars and resources for M.Sc. and Ph.D. defences.

Program Structure

• Undergraduate:
  • Current Students: Advising, Statistics Workshop, Program Information, Course Information, Co-op, Getting Involved, Research, Awards, Accreditation, EAL and Other Resources
  • Prospective Students: Careers, Degree Programs, Admissions and Transferring, Co-op, Research, Moving to SFU
• Graduate:
  • Current Students: Program Information, Course Information, Teaching Assistant Positions, Co-op, Awards, Defences, EAL and Other Resources, Intranet Grad Students
  • Prospective Students: Degree Programs, Admissions, Tuition and Financial Support, Co-op, Academic Resources, Moving to SFU

Department and Research

• Department Overview: The department consists of faculty, staff, statistical consulting, graduate students, sessionals, employment opportunities, and forms.
• Research Overview: Research concentrations include Statistics, Actuarial Science, and Data Science, with seminars and resources available.

Conclusion

The Actuarial Science program at SFU is designed to provide students with a comprehensive education in actuarial science, preparing them for a successful career in this field. With its strong curriculum, research opportunities, and industry connections, SFU's Actuarial Science program is an excellent choice for students interested in pursuing a career as an actuary.