BScActuarial Science and Risk Management
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 fields of pensions, insurance or in the wider financial industry. In addition, students may gain exemptions from the initial technical professional exams required to qualify as an actuary via our accreditation with the Institute and Faculty of Actuaries.
- Entry requirements
- AAA including Mathematics
- English language requirements
- An IELTS score of 6.5 with a minimum of 5.5 in each test component.
- Tuition fees
- £20,800 / ¥187,200
Course Content
Year 1
- Foundations of Economics 1 (20 credits)
- Actuarial Mathematics 1 (20 credits)
- Foundations of Economics 2 (20 credits)
- Introduction to Probability & Statistics (30 credits)
- Introduction to Statistical and Operational Research Methods (10 credits)
- Actuarial Placement Preparation (0 credits)
- Financial Reporting and Analysis (20 credits)
Year 2
- Actuarial Mathematics 2
- Actuarial Methods in General Insurance
- Financial Risk Modelling
- Investment Analysis
- Excel Analysis
- Principles of Actuarial Modelling
- Actuarial Mathematics 2
Year 3
- Placement Year*
Year 4
- Actuarial Modelling
- Actuarial Econometrics and Data Science
- Financial Engineering
- Actuarial Applications
- Stochastic Processes for Finance
- Equity Research
Related courses
- Finance with a Year in Industry
- 4 years (N300)
Applications open
Why Queen's
Accreditation
Subject to academic performance, students can gain various exemptions from the Institute and Faculty of Actuaries (IFoA) professional exams.
City Scholarships
Students can apply for the popular City Scholarship Programme, which would allow them to spend a week working for a leading financial company in London at the end of their first year.
Student Societies
Students may wish to join the Student Managed Fund, a student-run organisation which aims to educate its members on trading and investing through guest speakers, competitions and educational seminars. It manages a £30,000 real money portfolio, giving students the opportunity to be part of an investment management process. The Finance & Actuary Society runs social and educational events for members, such as the end-of-year formal.
Software
Students on the course will be given the opportunity to develop their modelling skills and will use software such as Model Risk and the Bloomberg terminals in the FinTrU Trading Room.
Prizes and Awards
A number of local employers and professional bodies sponsor prizes on an annual basis for best students in their level, module or category. These include Invesco, The Company of Actuaries Charitable Trust Fund, SCOR Global Life, Mercer, Pramerica, Spence & Partners, Acumen Resources, Xafinity Consulting, and Allianz Re Dublin.
Careers/further study
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.
Consultations
We regularly consult and develop links with a large number of employers including all the major actuarial employers in Northern Ireland and Ireland and a selection of employers from Great Britain. We host annual employer liaison meetings for the course as well as annual actuarial careers fairs at which students can engage with actuarial employers on a one-to-one basis. The establishment of SoNIA (Society of Northern Ireland Actuaries) by staff in Queen’s Management School has facilitated a continuous and seamless engagement between academics, actuarial employers and Queen’s students whereby students can gain access to the profession. They have an opportunity to discuss issues that are concerning the industry and that are of importance to qualified actuaries. Students can also develop excellent networking, communication, and business awareness skills from the start to end of their academic progression ensuring that they can fully compete in the competitive graduate employment market.
The degree has professional accreditation with the Institute and Faculty of Actuaries, the professional body, such that students succeeding on the degree can also achieve exemptions from the initial technical exams (previously CT1-CT8), subject to certain conditions being met. Graduates from this degree at Queen’s are well regarded by many employers (local, national and international) with approximately 90-95 per cent of graduates finding high-level actuarial employment within several months of graduation. Furthermore, several students are offered full-time positions with their placement provider.
Typical career destinations
The traditional areas in which actuaries are employed include:
- Actuarial Consultancies
- Insurance Industry
- Pensions Industry
- Investment Industry
Graduate employers include:
- Kerr Henderson
- Spence & Partners
- NFU Mutual
- Invesco
- Boal & Co
- Towers Watson
- Allianz Insurance
- Mercer
- AXA Insurance
- Deloitte
- Capita
- Liberty Mutual Insurance
- PwC
- Pramerica
- Metlife
- Xafinity
“During my third year, I was on a placement with Allianz Re Dublin Limited, working as a student actuary. Through the placement, I not only learnt some technical skills such as VBA coding, analytical reasoning and problem solving, it also gave me opportunities to gain an insight of an actuary’s job scopes and responsibility.” Jo Khoon Loh, Malaysia, BSc Actuarial Science and Risk Management Graduate