PROGRAMS

M.Sc in Actuarial Science

Master’s Degree in Actuarial Science

Our Master’s Degree is offered by Patkar-Varde college, affiliated to the University of Mumbai. The course is a unique blend of industry-academia tie-ups, bringing real-life experiences to the lecture theatre, enabling students to get industry rich learning experiences. This degree program will prepare actuarial aspirants for a high-flying career in traditional and non-traditional actuarial fields.

The degree aims at providing various career opportunities like Actuarial Science, Finance, Investment, Risk Modelling, Data Analytics, Asset and Liability Management.

Programme USP

Power Your Knowledge
Equip yourself with vital knowledge and skills that navigates your career in the right direction. It will polish certain universal skills like analytical and critical thinking along with technical skills required in your career life.
Offers scope to Multi-diverse fields
The masters degree will open your gate to multiple fields where actuaries work. From weather forecasting , venture capitalist, data science, InsurTech firms to conventional Insurance companies and Banks.
Elevate your game
It will equip you with the right kind of competencies needed to perform in the professional space. It involves research oriented projects and case studies which will keep you up-to-date with on goings in actuarial, financial, banking and tech industry.
Learn from the Industry Experts
Faculty members include professionals who are Qualified Actuaries (FIA/ FIAI), Associates Actuaries (AIAI), Chartered Accountants (CA), Chartered Financial Analyst’s (CFA), Financial Risk Manager (FRM) and Others.
Be Job Ready
Be ready to learn beyond classroom and class material to form a deeper understanding of the subjects. Apply theoretical knowledge on various softwares, case-studies/projects and Internships
Industry Academia Tie-ups
The course offers hands-on experience solving real-life, complex data-sets through a Project-Based Internship provided by our Industry partners along with Internship and Job opportunities
Fast-Track your career
It covers the material syllabus of the Institute and Faculty of Actuaries (IFoA, UK) and the Institute of Actuaries of India (IAI, India) such as CM1, CM2, CS1, CS2, CB1, CB2 and CP1

Power Your Knowledge

Equip yourself with vital knowledge and skills that navigates your career in the right direction. It will polish certain universal skills like analytical and critical thinking along with technical skills required in your career life.

Be Job Ready

Be ready to learn beyond classroom and class material to form a deeper understanding of the subjects. Apply theoretical knowledge on various softwares, case-studies/projects and Internships

Offers scope to Multi-diverse fields

The masters degree will open your gate to multiple fields where actuaries work. From weather forecasting , venture capitalist, data science, InsurTech firms to conventional Insurance companies and Banks.

Industry Academia Tie-ups

The course offers hands-on experience solving real-life, complex data-sets through a Project-Based Internship provided by our Industry partners along with Internship and Job opportunities

Elevate your game

It will equip you with the right kind of competencies needed to perform in the professional space. It involves research oriented projects and case studies which will keep you up-to-date with on goings in actuarial, financial, banking and tech industry.

Fast-Track your career

It covers the material syllabus of the Institute and Faculty of Actuaries (IFoA, UK) and the Institute of Actuaries of India (IAI, India) such as CM1, CM2, CS1, CS2, CB1, CB2 and CP1

Learn from the Industry Experts

Faculty members include professionals who are Qualified Actuaries (FIA/ FIAI), Associates Actuaries (AIAI), Chartered Accountants (CA), Chartered Financial Analyst’s (CFA), Financial Risk Manager (FRM) and Others.

Curriculum Ideology

The curriculum is delivered in three ways:

Knowledge - Classroom Session

  • Assignments & Projects: Our dedicated team of professors is always eager to guide students at every step of their projects. Such assignments and projects undoubtedly offer our students an opportunity to meet, interact and build relationships with popular and experienced people in the BFSI (Banking, Financial Services and Insurance) Industry.

  • L.M.S: Learning Management System is our online space designed to cater to best learning for the millennials. Students have access to the lectures conducted in class on this portal, wherein students can revisit, rethink and revise lectures anywhere, anytime. This portal is also a one-stop-shop for all the assignments, practice questions and daily schedules.
  • Skills - Practical Learning

  • Industry Connect Workshops: To keep the students informed about the latest happenings in the industry, we frequently organize uniquely designed workshops and seminars, which are focused on highly practical topics, which are short-listed by our team of experts.

  • Case Studies: Case studies highlighting various practical and situational issues are regularly discussed during classroom sessions. Exploring such live Case Studies and then identifying what went wrong or what could have been done better helps students to streamline their thought process.
  • Application Of Knowledge and Skills

  • Projects: These are used as a platform for students to translate all their learnings in solving a scenario-based question. These are curated by the faculty to help students amalgamate all their learnings from each semester and to draw parallels with industry realities.

  • Placement Cell: We have a dedicated placement cell which aims at providing 100% placement assistance to students along with guiding them for future career options and resume building.
  • Bachelor’s degree in any discipline (Commerce / Engineering / IT background / Mathematics) with a minimum of 70% in Semester 5
    If the Semester 5 marks are <70% then students need to give an aptitude test – QAT and Clear a Personal Interview Round
    To master the necessary skills, gain a comprehensive foundation and ensuring depth in the field of Banking, Financial Services and Insurance (BFSI) industry.
    This one-of-a-kind degree aims at propelling into the profession by offering strong fundamentals in: Actuarial Science
    Insurance
    Finance
    Investments
    Risk Modelling
    Data Analytics
    Asset – Liability Management

    Course Curriculum

    This semester brushes up on the basics of calculus and statistical methods. It aims to introduce the students to the world of cash-flow models and time value of money which forms the basis of financial mathematics. The course aims at providing a bird’s eye view of the workings of a life insurance company.

      Major Course
    • Probability and Statistics
    • Financial Mathematics
    • Business Finance
    • Insurance – Principles, Products and Practices
    • Research Methodology

      Elective
    • Introduction to Derivatives & Financial Markets
      OR
    • Applications of IT- Basics & Advance Excel

    This semester delves deeper into understanding the statistical methods, financial analysis and is a refresher for algebra. It familiarizes students with the concepts of Actuarial models and provides an overview of the workings of a non-life insurance company.

      Major Course
    • Portfolio Theory & Security Analysis
    • Financial Engineering-1
    • Statistical & Risk Modelling -1
    • Business Economics
    • Fixed Income Products

      Capstone Project
    • R – Project

    In this semester, students will learn about risk modelling, mortality tables and how one can make the mortality tables fit for industrial use. It introduces one to the primary and secondary financial market.

    Students will also develop an understanding of the workings of competitive markets and behaviour of consumers. Concluding the semester, the students would get a first-hand experience by solving business problems.

      Major Course
    • Pricing & Reserving for Life Insurance Products – 1
    • Statistical & Risk Modelling – 2
    • Statistical & Risk Modelling – 3
    • Application of IT – Python
    • Model Documentation & Analysis

    • Elective
    • Actuarial Practice – 1
    • OR
    • Professional Ethics

      Field Project
      Live Project

    This semester equips one with understanding of various concepts required for model building. It acquaints them with fixed income products and introduces one to the macro side of the economy. The course expands the student’s knowledge of pricing and hedging of derivatives.

      Major Course
    • Pricing & Reserving for Life Insurance Products – 2
    • Statistical & Risk Modelling – 4
    • Predictive analytics and machine learning
    • Application of Actuarial software – Prophet

    • Elective
    • Actuarial Practice – 2
    • OR
    • Business Communication

      Field Project
      Live Project

    Students have to undertake an internship before the last year begins. The Placement Cell will assist students in the internship process. The internship also helps students select their subjects for specialisation.

    Choose your elective for specialization
    At the beginning of the 5th semester, students are given an option to choose electives of their choice with the aim of specialization.
    Elective A: Actuarial Science
    Elective B: Quantitative Finance

    Class Profile

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    Commerce
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    Economics
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