An IELTS score of 6.5 with a minimum of 5.5 in each test component or an equivalent acceptable qualification,
The BSc Actuarial Science and Risk Management programme has been designed by qualified actuaries to enable students to develop the theoretical and practical skills required to pursue a career as an actuary in the pensions and insurance sectors, or in the wider financial industry.
In addition, students may gain up to six exemptions from the initial technical professional exams required to qualify as an actuary via our accreditation with the Institute and Faculty of Actuaries.
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Course Structure
Stage 1
Actuarial Mathematics 1
Financial Reporting and Analysis
Introduction to Statistics and Operational Research
Economy, Society and Public Policy 1
Economy, Society and Public Policy 2
Introduction to Statistical and Operational Research Methods
Stage 2
Actuarial Mathematics 2
Actuarial methods in General Insurance
Financial Risk Modelling
Investment Analysis
Excel and VBA
Principles of Actuarial Modelling
Stage 3
Placement Year
Students undertake a minimum nine-month, salaried work placement. Placement allows students to develop highly-valued practical skills, as well as critical softer skills that employers value, and on successful completion, students are eligible for a Licentiateship award (a vocational qualification provided through the City and Guilds of London Institute). Recent placement providers have included Scor, Pramerica, Spence and Partners, Milliman and the Government Actuaries Department (GAD).
Stage 4
Actuarial Modelling
Capital Markets
Actuarial Econometrics and Data Science
Actuarial Applications
Financial Engineering
Stochastic Processes for Finance
Students pursuing a career in Actuarial Science should enjoy working with numbers, be effective communicators and work well with people as they will have to analyse and interpret financial and other information to meet the needs of different users, including managers and investors.
The traditional areas in which actuaries are employed include:
Pensions Industry - Actuaries are involved in the management and valuation of pension scheme liabilities (for regulatory purposes). They are also involved in new design and restructuring of pension schemes, deficit management and any requirements of regulatory change on pension schemes.
Investment Industry - Actuaries are involved in a wide variety of work such as pricing financial derivatives, working in fund management or working in quantitative investment research.
Life and Non-Life Insurance Industries - Actuaries design new insurance policies and calculate premium rates for the protection of life (whole life or term assurance) or personal items (car insurance or buildings and contents). Actuaries also perform reserving calculations to demonstrate solvency of the company.
Insurance – Single: 300 GBP per year
