The BSc. degree Programme in Actuarial Science at Redeemer’s University (RUN) is a three/to four-year programme, targeted at producing academically and professionally competent graduates who will be globally competitive and capable of working in all spheres of human endeavour that are related to the field of Actuarial Science.
A graduate of Actuarial Science from RUN will also have a good background for postgraduate studies in Actuarial Science, Enterprise Risk Management, Financial Engineering and other relevant fields of study.
In realizing the objectives of the BSc Actuarial Science Programme, emphasis is placed on both academic and professional content.
Actuarial Science involves the use of analytical skills to study risk in helping an organization plan for the future and protect itself from loss. This plays a key role in a society’s psychological, physical and financial stability. An actuary is someone who applies financial, mathematical, economic and statistical theories to solve real business problems.
Every area of business is subject to risks so an actuarial career offers many options. Understanding how businesses operate and how legislation may affect them is also vital. What set actuaries apart are their natural mathematical, economic and statistical skills and their ability to apply them to real financial situations.
Actuarial skills are in great demand throughout the financial sector, particularly in investment, insurance and pensions. Actuaries are also increasingly employed in Enterprise Risk Management for large companies. There are many other areas where actuaries can work, including;
- Consultancy: offering advice on issues such as acquisitions, mergers and financing capital projects.
- Investment: involved in research and on the pricing and management of investments, particularly in mitigating the risk and using their understanding of insurance or pension liabilities to manage corresponding assets.
- Pensions: designing and advising on company pension schemes, especially placing a value on accumulated pension commitments.
Beyond these, the skills gained as an actuary will be invaluable for future careers, whether as an actuary or other. Some actuaries change practice area and career paths, by moving into alternative risk roles, business operations manager, career advisers/teaching – the list is endless.