Postgraduate Studentships - Search for funding opportunities.
Postgraduate Studentships - Search for funding opportunities.
Study Details: 1 Year Full-time
You've completed the mathematics in actuarial science and you want to qualify quickly. Our MSc in Actuarial Management with Data Science will take you close to the point of qualification and also develop your data science (machine learning) skills.
Data Science (machine learning) uses computer algorithms to build models of the future. Our MSc in Actuarial Management with Data Science will enable you to develop the skills to build and apply such models in an actuarial context.
In addition, the degree is fully accredited with the Institute and Faculty of Actuaries in the UK for actuarial subjects: CP1, CP2, CP3, SP2, SP4, SP5, SP6 and SP9. Studying subject SP9 leads to the internationally recognised Certified Enterprise Risk Actuary (CERA) qualification.
These subjects cover a variety of areas including life insurance, risk management, investment, derivatives, pensions, communication and modelling. Combining your choice of these with your development in machine learning skills will prepare you well for the modern world. You choose the combination that works for you.
Completing this degree gets you close to qualification as an actuary, with only one or two exams left to complete after leaving university. It typically speeds up your qualification by one or two years.
Entry requires an excellent Bachelors or Masters degree, and for the student to have studied, and be proficient in, the application of a wide range of the early actuarial material. Broadly speaking, students need to have covered previously much of the syllabus of early Institute and Faculty of Actuaries subjects: CM1, CM2, CS1, CS2, CB1 and CB2.
The degree is challenging but rewarding. Working hard will get you a suite of exemptions and the ability to perform well in interviews in order to secure your first role in business.
If you have not passed most or all of the early actuarial Institute and Faculty of Actuaries subjects then our MSc in Actuarial Science (1 year) degree or our MSc in Actuarial Science and Management (2 year) degree may be better for you.
Only eight courses across two semesters must be completed in total.
The courses, and any corresponding actuarial exemption subject they are linked to, are as follows.
COMPULSORY COURSES
Semester 1
Actuarial Risk Management 1 (CP1)
Machine Learning for Risk and Insurance 1
Semester 2
Actuarial Risk Management 2 (CP1)
Machine Learning for Risk and Insurance 2
OPTIONAL COURSES
Semester 1
Life Insurance 1 (SP2)
Pensions A (SP4)
Financial Markets (SP5)
Derivative Markets and Pricing (SP6)
Quantitative Risk Analysis (SP9)
Semester 2
Life Insurance 2 (SP2)
Pensions B (SP4)
Finance and Investment (SP5)
Advanced Derivative Pricing (SP6)
Risk Management: Techniques and Tools (SP9)
In semester 3 students undertake two actuarial/business related case studies or a single longer project with a supervisor from a company in the UK financial industry. The submitted work, and exams that take place in semester 3, are both linked to exemptions from Institute and Faculty of Actuaries subjects CP2 and CP3.
Masters study opportunities at Heriot-Watt University Why study at Heriot-Watt? Ranked 256th in the world and 32nd in the UK (QS World Un...
