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Return to: 7210 Department of Risk Management and Insurance
Chia Chun Lo, Faculty Director, 404-413-7484, email@example.com
Actuarial Science is a discipline that employs mathematics and statistics in modeling the financial impacts of risk and uncertainty in various sectors of the economy, and in designing solutions of managing risks. A majority of professional actuaries work in careers that are associated with the insurance industry, though growing numbers work in other fields. The mission of the MAS degree program is to educate students in the theory and practice of actuarial science through a specialized program of study. The program is designed to teach students both the core actuarial theory and the latest development in actuarial practice.
In addition to the MAS program, two dual-degree options are available: one where students will earn both the Master of Actuarial Science degree and the Master of Science in Quantitative Risk Analysis and Management (QRAM); and one where students will earn both the Master of Actuarial Science (MAS) degree and the Master of Science in Analytics (MSA).
The rapid integration of insurance and financial services and the increasing acceptance of enterprise risk management in broad sectors of the economy imply that risk professionals need to master the understanding of risks associated with assets, liabilities and business operations. This requires a set of integrated skills in actuarial risk modeling, financial risk modeling, and enterprise risk management. The dual degree program in MAS/QRAM is designed to serve the growing need for graduates who 1) have solid quantitative skills in both actuarial risk modeling and financial risk modeling, and 2) understand the business contexts and possess the necessary communication skills for solving complex risk issues.
Similarly, there is an increasing need for graduates an expertise in data analytics in the insurance field. The ongoing data revolution associated with the ever-increasing collection of data and use in the business process and decisions makes analytics skills relevant in all areas of business. The dual degree program MAS/MSA is designed to serve the need for actuarial graduates with analytics skills.