UCSI University

Overview of Master of Science in Actuarial Management in UCSI University Malaysia

After the successful accreditation of its undergraduate Actuarial Science programmes, UCSI University is launching the MSc in Actuarial Management. This elevates UCSI’s offerings in the field of Actuarial Studies to the Graduate-Education level (curriculum covers all topics on the first four CAS/SOA exams and programmes leads to a Master’s degree).

As a post-graduate programme, the MSc in Actuarial Management will have more emphasis on the theoretical fundamentals of the disciples involved. In addition, this Master’s programme offers two structures (C or B) to meet the different needs of learners with a first degree in the quantitative discipline.

Coursework (Structure C) is ideal for professionals such as mathematics teachers, engineers or economists who want a mid-career switch to the actuarial profession. Coursework (Structure C) will equip them with the essential technical knowledge to pursue the Society of Actuaries exams up to associate level. In addition, it provides essential management know-hows for technicists to succeed in ascending the corporate ladder.

Actuarial Science is an interdisciplinary programme, so inevitably, graduates from such programmes could lack theoretical depth.

Mixed Mode (Structure B) is designed for those who already have a degree in or related to actuarial science and would like to boost their theoretical foundation and develop skills for research. It is ideal for those interested to venture into academia or a management role that conducts more rigorous investigative tasks.

PROGRAMME STRUCTURE

Structure C – Coursework

Semester 1 (12 credit hours)

• Probability and Statistical Method
• Research Methods for Business and Management
• Life Contingency
• Actuarial Models

Semester 2 (12 credit hours)

• Empirical Modelling for Actuary
• Insurance Business Practices
• Stochastic Process for Financial Economic
• Empirical Workshop

Semester 3 (17 credit hours)

• Elective 1
• Elective 2
• Elective 3
• Research Project

Structure B – Mixed Mode

Semester 1

• Probability and Statistical Method
• Research Methods for Business and Management
• Life Contingency
• Actuarial Models

Semester 2

• Empirical Modelling for Actuary
• Insurance Business Practices
• Empirical Workshop
• Elective

Semester 3

• Research Thesis

Electives

• GD 401 Quantitative Equity Portfolio Management
• GD 506 Stochastic Process for Financial Economic
• GD 403 Asset Liability management
• GM 502 Marketing Management
• GM 524 Ethics and Corporate Social Responsibility
• GM 512 Business Policy and Strategic Management

ENTRY REQUIREMENTS

ENTRY INTO MSC. (ACTUARIAL MANAGEMENT) (STRUCTURE C – COURSEWORK)

?Bachelor’s degree

i. A Bachelor’s degree in the field or related fields with a minimum CGPA of 2.50 out of 4.00 or equivalent, as accepted by the HEP Senate; or

ii. A Bachelor’s degree in the field or related fields or equivalent with a minimum CGPA of 2.00 out of 4.00 and not meeting a CGPA of 2.50 out of 4.00, can be accepted subject to rigorous internal assessment;

iii. Candidates without a qualification in the related fields or working experience in the relevant fields must undergo appropriate prerequisite courses determined by the HEP and meet the minimum CGPA based on (i) to (ii).

ENTRY INTO MSC. (ACTUARIAL MANAGEMENT) (STRUCTURE B - MIXED MODE)

?Bachelor’s degree

i. Bachelor’s degree in the field or related fields with a minimum CGPA of 2.75 out of 4.00 or equivalent, as accepted by the HEP Senate; or

ii. A Bachelor’s degree in the field or related fields or equivalent with a minimum CGPA of 2.50 out of 4.00 and not meeting CGPA of 2.75 out of 4.00, can be accepted subject to rigorous internal assessment; or

iii. A Bachelor’s degree in the field or related fields or equivalent with a minimum CGPA of 2.00 and not meeting CGPA of 2.50 out of 4.00, can be accepted subject to a minimum of 5 years working experience in the relevant field and rigorous internal assessment.

ENGLISH LANGUAGE REQUIREMENTS

For International Students

• IELTS

Band 6.0

• TOEFL IBT

60

• Cambridge English Qualification and Test

169

• Pearson Test of English

59

• MUET

Band 4

CAREER PROSPECTS

Learners will be equipped with both theoretical knowledge as well as the management skills required to succeed in the local and global fields of actuarial science. Graduates of the MSc in Actuarial Management can be employed as actuaries, risk managers, risk analysts and investment analysts among others, in key fields such as:

• Insurance and reinsurance companies
• Banking and finance
• Consulting firms
• Service firms
• Government agencies
• Universities and educational institutions