1:35 YouTube video

Rahil Ram studied on the MSc in Actuarial Management at Cass Business School. In this video, he tells us how a work placement at Legal & General led to a role after he graduated. His role has given him the opportunity to have a positive social and economic impact.

Overview

Who is it for?

You are a part-qualified actuary or a graduate from a recognised BSc or MSc in Actuarial Science or any other recognised programme with an actuarial flavour. You will have completed the equivalent of at least four subjects from the Core Principles stage of the professional examinations of the Institute of Actuaries, including both Actuarial Mathematics (CM1) and Actuarial Statistics (CS1).

Objectives

The MSc in Actuarial Management programme covers material relating to the second and third stages of the professional examinations of the Institute and Faculty of Actuaries, namely the Core Practices subjects and Specialist Principles subjects.

Taking this master's degree at Cass means you are studying in the first institution in the UK to have both undergraduate and postgraduate programmes fully accredited by the UK Institute and Faculty of Actuaries.

You can also gain exemptions from the IFoA's examinations.  In particular you can gain exemptions in Actuarial Practice (Subject CP1), Modelling Practice (Subject CP2) and Communications Practice (Subject CP3) and most of the Specialist Principles (SP) subjects.

Exemptions

In early 2019 significant changes were made to the curriculum of Institute and Faculty of Actuaries professional exams (see Curriculum 2019 on the IFoA website for more details).

Exam passes and exemptions achieved under the previous curriculum may be eligible for conversion to the Curriculum 2019 structure in line with the transfer guidelines published by the IFoA.

Ask a student

Chat to one of our MSc Actuarial Management students now and have them answer your questions on everything from application to student life.

Structure

What will you learn

On the Actuarial Management MSc you will learn to:

  • Demonstrate knowledge and understanding of the main areas of actuarial practice
  • Demonstrate knowledge and understanding of the general commercial environment
  • Demonstrate knowledge and understanding of how to monitor measure and manage risk effectively
  • Apply actuarial, statistical and related methods to assess and manage risk
  • Communicate effectively with non-specialists in the area
  • Display the professional integrity, conduct and responsibility required by the actuarial profession.

In addition to the compulsory modules below, students must choose a total of three modules across Terms 1 and 2 from the list of electives (including at least two SP modules). Note that all Core Principles (CS, CM and CB) modules offered are subject to availability as they are hosted by the MSc in Actuarial Science and students on this programme will be given priority. If your third elective choice is CS2, you may choose both CS2(1) and CS2(2) modules as fractional exemptions are not offered.

Induction weeks

All of our MSc courses start with two compulsory induction weeks which include relevant refresher courses, an introduction to the careers services and the annual careers fair.

Assessment methods

Assessment

All our courses are regularly reviewed to keep them up-to-date on issues of both theory and practice.

Assessment of modules on the MSc in Actuarial Management, in most cases, is by means of coursework and unseen examination. Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests and problem sets. Please note that any group work will include an element of peer assessment.

Term dates

Term dates 2020/21

In-Person ID Checks (all students must attend): Commences 14 September 2020

Compulsory Induction: 14 - 25 September 2020

Term I
28 September 2020 - 11 December 2020
Term I exams
11 January 2021 - 22 January 2021

Term II
25 January 2021 - 09 April 2021
Term II exams
26 April 2021 - 07 May 2021

Term III
10 May 2021 - 09 July 2021
Term III exams
12 July 2021 - 23 July 2021

Resit period
Students who are required to resit an examination or invigilated test will do so in the period:
09 - 21 August 2021

Submission deadline for Business Research Project or Applied Research Project 
30 August 2021

Official Course End Date
30 September 2021

Timetables

Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.

View academic timetables

Please note that all academic timetables are subject to change.

Teaching staff

Course Director

Course director profile

Dr Ioannis Kyriakou

Senior Lecturer in Actuarial Finance

The teaching staff on the MSc in Actuarial Management have many years of practical experience working in the financial services sector and are also active researchers in their fields

This knowledge and experience helps to inform the highly interactive lectures that make up the MSc in Actuarial Management.

Module Leaders include:

Application

How to apply

Documents required for decision-making

  • Transcript/interim transcript
  • Current module list if still studying
  • CV
  • Personal statement (500-600 words)
  • Confirmation of professional qualification examinations/exemptions/passes

Documents which may follow at a later date

  • IELTS result, if report available
  • Two references
  • Confirmation of your final Institute and Faculty of Actuaries exam passes/exemptions (if you are still studying)
  • For a successful application to receive an unconditional status all documents must be verified, so if your university does not operate a secure online transcript verification portal, an original or certified copy of the degree transcript must be sent by post to the Master's Programme Office, 106 Bunhill Row, London, EC1Y 8TZ, UK

We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.

Individual Appointments

If you would like to visit us to discuss your application please do arrange an individual appointment.

Terms and conditions

Students applying to study at Cass Business School are subject to City, University of London's terms and conditions.

Entry requirements

  • A UK upper second class degree or above, or the equivalent, and/or a Masters Degree/Postgraduate Diploma (from a UK university or equivalent) in a related subject and already covered the fundamentals of actuarial science at university degree or professional level
  • Applicants are required to have passed and/or as a result of previous studies, be exempted from the equivalent of at least four of the Core Principles examinations of the Institute and Faculty of Actuaries (including both Actuarial Statistics (CS1) and Actuarial Mathematics (CM1))*

*Excludes the Business Management (CB3) exam

Students who are new to the field of actuarial science should apply for the MSc in Actuarial Science (covering the Core Principles examinations of the Institute and Faculty of Actuaries.

English language requirements

If you have been studying in the UK for the last three years it is unlikely that you will have to take the IELTS test

If you have studied a 2+2 degree with just two years in the UK you will be required to provide IELTS results and possibly to resit the tests to meet our requirements.

IELTS

The required IELTS level is an average of 7.0 with a minimum of 6.5 in the writing section and no less than 6.0 in any other section.

Read more about English requirements

Fees

UK/EU/International £21,000 Tuition fees are subject to annual change
UK/EU/International (part-time) £10,500 Tuition fees are subject to annual change

Fees in each subsequent year of study (where applicable) will be subject to an annual increase of 2%. We will confirm any change to the annual tuition fee to you in writing prior to you commencing each subsequent year of study for continuing students (where applicable).

Deposit: £2,000 (usually paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)

First installment: Half fees less deposit (to be paid at registration)
Second installment: Half fees (paid in January following start of course)

Information about Scholarships

Career pathways

Career destinations for MSc Actuarial Management

Career pathways for graduates in MSc in Actuarial Management postgraduate programme are typically in actuarial roles. The type of employers varies, including consultancies, insurance companies, brokers, banks and supervisory authorities / central banks.

Class of 2018 Profile

Typical roles for 2018 graduates include Actuarial Consultant, Senior Actuarial Analyst, Manager, Deputy Underwriter and Management Associate, within companies that include

  • Product support valuation - Allianz China Life
  • Wealth Manager - Industrial and Commercial Bank of China
  • Consultant - Sunlight Consulting (Shanghai) Co., Ltd
  • Valuation Actuarial Analyst - Reliance Health Insurance Ltd
  • Senior Consultant - Deloitte
  • Associate Actuary - Milliman
  • Longevity Pricing Analyst - PartnerRe
  • Associate Consultant - PWC
  • Senior actuarial analyst - Axis
  • Associate - EY
  • Associate consultant - JLT
  • Risk Analyst - Nationwide
  • Reinsurance Analyst - Pacific Life Re
  • Actuarial Graduate Trainee - Zurich Insurance Group

Where they are working now

  • UK: 33%
  • EU/ EEA: 21%
  • North America: 0%
  • Africa and Middle East: 17%
  • Asia: 29%

Industry post-master's

38% Insurance - Financial Services
17% Consulting - Financial Services
8% Accounting/Auditing - Financial Services
8% Commercial / Corporate - Banking Financial services 

The remaining industries are made up of Pension Services (8%), Advisory / Boutique Advisory firm (4%), Asset Management / Investment Management (4%), Central Banks / Ministries (4%), Other (5%), Government (4%).

Data provided from alumni who completed the annual destination data survey 2017/18.

Course information and statistics

Man
24
average age of student body
Search
1.3
average years of work experience
Globe
15
nationalities in 19/20 cohort
Human brain
Introduced in 1999 and first academic programme in the world to offer exemptions from advanced-level professional actuarial exams

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