Actuarial Mathematics Master

Applications

International aplications

Final-year students who expect to complete their degree program in the current academic year can apply in the first round of applications, which runs until March 24th.

What is an Actuary?

Actuaries define, measure and manage risk. An Actuary is a trained professional that applies sound and testable scientific methods, namely mathematics, in order to optimize the financial impact of future and uncertain outcomes. Actuaries are professionally involved in many different areas, though the traditional areas of work are classified as life, non-life, financial and pension funds. Credit risk analysis, loan valuations, insurance valuations and pricing, and claim reserving are some of the activities of an Actuary.

Objectives

The Actuarial Mathematics Master aims to train specialists in the habitual domains of an Actuary professional: mathematics, statistics, finance, computing science. The degree will provide a strong grounding in risk management, pricing techniques, solvency models, provisions, among others. The established programme complies with the International Actuarial Association (IAA) and the Actuarial Association of Europe (AAE) Syllabus, and perspectives the international accreditation.
The Master is designed for students with a degree in Mathematics, Science, Technologies, Engineering, Economics, Management or Accounting, with a strong appeal for Applied Mathematics.

Career opportunities

The Actuarial Mathematics Master ensures the education of risk managers specialists: Actuarial specialists. These specialists are in demand by a wide range of organizations that address risk management, such as insurance companies, banks, investment management companies, consulting companies, pension fund management societies, governments, etc. Therefore, the search for these professionals doesn’t restrain to the national labor market. Students may also develop and lead innovation/research projects, in business and academic contexts, by pursuing their Doctoral studies.

Course description

The Actuarial Mathematics Master aims to empower students that risk is a central issue in the lives of people, companies and societies, and that added value may be obtained if the proper risk management approach is applied. The education objectives are two-fold: 1-to ensure that students can identify, measure, mitigate and manage the different types of risks and 2-to ensure that students will develop their professional activity in a broader sense than pure risk mathematical analysis, encompassing the Enterprise Risk Management philosophy. In that sense and in order to broaden the students’ education, Economics and Computing Science courses will also be provided.

All Master courses are ministered by Department of Mathematics professors holding a PhD and highly specialized in the area. Some courses will have the collaboration of recognized Actuarial professionals, in order to allow students to further perceive the application relevance of the course contents.

In order to obtain the Degree, students must achieve 120 ECTS:

• 69 ECTS – Mathematics scientific area courses
• 12 ECTS – Computer Science scientific area courses
• 3 ECTS – Entrepreneurship
• 6 ECTS - Scientific area course to choose
• 30 ECTS - Dissertation

Curriculum

Detailed Curriculum

Scholarship Program

With the support of the Sponsors, the Master in Actuarial Mathematics includes a Scholarship program for students who have demonstrated exceptional academic achievement in the 1st year of the Master.
In 2022/23, two Merit Scholarships were awarded to 2nd year students.
In 2023/24, at least three Merit Scholarships will be awarded to 2nd year students.

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