An actuary is a professional who uses numbers to make judgements about the future. This course will prepare you for a professional career in the actuarial or financial professions, but it has also been designed to be broader and more diverse than most traditional courses in actuarial science.
A good actuary requires a multidisciplined education in fields such as mathematics, economics, finance, statistics, risk management, psychology and professionalism and ethics. It takes a combination of strong analytical skills, business knowledge and understanding of human behaviour to design and manage programmes that control risk and guarantee sufficient funds for the insurance and pension sectors. Actuaries have traditionally worked mostly in the life assurance and pensions industries but are increasingly moving into wider fields, where they can employ their multidisciplined approach. The course also opens up options to work in finance, investment and trading.
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If you enjoy studying Higher Level Mathematics in High School and you have strong analytical and problem-solving skills, Actuarial & Financial Studies could be for you. An actuary is a professional who uses numbers to make judgements about the future. This course will prepare you for a professional career in the actuarial or financial professions, but it has also been designed to be broader and more diverse than most traditional courses in actuarial science.
This is a sample pathway for a degree in Actuarial & Financial Studies. The course is broad and highly multi-disciplined.
Mathematics • Economics • Statistics • Accounting • Computer Science • Elective module
Finance • Statistics • Actuarial Mathematics • Economic History • Elective modules
Investment & Trading • Actuarial Statistics • Information Management • Workplace Skills • Six-month professional placement in an insurance and financial institution in Ireland (or in some cases in the UK or USA).
Financial & Actuarial Maths • Actuarial Statistics • Actuarial Risk Management • Ethics & Professionalism • Elective module
Assessment for each module will vary and may comprise a written exam, multiple choice questionnaire and continuous assessment activities.
BAFS Actuarial & Financial StudiesBSS3
Most graduates take positions as actuarial trainees in the following:
• Life insurance
• Health insurance
• General insurance
The Actuarial & Financial Studies degree at UCD offers potential exemptions from the core subjects CS1, CS2, CM1, CM2, CB1, CB2 and CP1 of the professional examinations of the Institute and Faculty of Actuaries, UK. Some graduates also work in banking or finance as business or financial analysts. As an Actuarial & Financial Studies graduate, you are also eligible to pursue graduate study in statistics, computer science, economics, mathematics, management science, finance and other specialist business subjects.
"I really enjoyed maths in school and problem solving has always been fun for me. However, I did not know exactly what type of career I wanted. This course is great as it covers a range of topics from actuarial to financial to data science using a hands-on approach, applying what you learn in class to real world scenarios. What I enjoyed the most was my work placement in third year. While the majority of students work in insurance companies, I took a different route and did my placement in an investment bank. First-hand industry experience is so important, and I plan on following this path after I graduate. The Actuarial and Financial Society in UCD is also great as they sponsor events throughout the year such as the Actuary Pub Quiz and the Actuary Ball."
Hugh Quigley, Student