Actuarial Science deals with evaluating risks and maintaining the economic stability of insurance or financial organisations. Actuarial Studies graduates learn how to use Mathematics, Statistics, and Probability principles to anticipate future events and take preventive measures.
Actuaries possess a unique mix of mathematical, analytical, communication and management skills. They apply their abilities to create social impact, inform high-level strategic decisions and have a significant impact on legislation, businesses and peoples' lives.
Actuaries are creative, curious and adaptable and it’s this learning mindset that helps them succeed in the digital age. Actuaries’ unique combination of technical skills and professional acumen ensure they will continue to make a difference, guarding against the impacts of future uncertainty.
#1 ranking for actuaries among 200 jobs
(Source : CareerCast Job Report)
Actuaries rank Top 1 with the highest salaries
(Source : Glassdoor’s Findings)
Only 1 Actuaries in India, need at least 1 in next few years
(Source : IRDA Chief)
Top 5 Skills of an Actuary
About Us
This Masters program is offered by Patkar- Varde college (accredited with A+ Level at NAAC) – University of Mumbai in association with Institute of Actuarial and Quantitative Studies (IAQS). We offer a unique blend of industry-academia tie-ups, bringing real-life experiences to the lecture theatre, enabling students to get industry rich learning experiences.
Our mission is to provide premier and comprehensive education in the field of Actuarial Science, Data Science and Quantitative modelling extensively used in the Banking, Financial Services and Insurance (BFSI) industry and to bridge the gap between Education and Careers. Our vision is to revolutionize the learning experience of students and focus on holistic development and the nurturing of well-learned leaders.
Campus Location: Patkar- Varde College, SV Rd, Goregaon West, Mumbai, Maharashtra 400104.
Why Choose M.Sc.?
This Degree Aims at Providing Various Career Opportunities Like:
Actuaries often lead teams on a variety of projects and then must be able to handle an assortment of personalities
Program Highlights
Equip yourself with vital knowledge and skills that navigates your career in the right direction
The masters degree will open your gate to multiple fields where actuaries work
It will equip you with the right kind of competencies needed to perform in the professional space
Be ready to learn beyond classroom and class material to form a deeper understanding of the subjects
The course offers hands-on experience solving real-life, complex data-sets through a Project-Based Internship
It covers the material syllabus of the Institute and Faculty of Actuaries (IFoA, UK) and the Institute of Actuaries of India (IAI)
Faculty members include professionals who are Qualified Actuaries
Admission Details
ELIGIBILITY CRITERIA
- 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% students need to give an aptitude test – QAT and Clear personal interview round.
COURSE CURRICULUM
Be a Masters in Actuarial study with a unique program providing an in-depth understanding of knowledge that is highly relevant. Actuaries role can be performed in various sectors such as product pricing, financial modelling, risk management, carrying out peer reviews, designing social security schemes, advise on premium etc. The curriculum has been designed to give knowledge of various fields to the students.
Probability and Statistics
Financial Mathematics
Insurance – Principles, Products and Practices
Introduction to Derivatives and Financial Markets
Business Finance
Application of IT – Basic and Advance Excel
Portfolio Theory and Security Analysis
Financial Engineering - 1
Business Economics
Statistical and Risk Modelling in R
Introduction and Modelling in R
Fixed Income Products
Statistical and Risk Modelling – 2
Statistical and Risk Modelling – 3
Pricing and Reserving for Life Insurance Products -1
Actuarial Practice – 1
Professional Ethics
Model Documentation Analysis and Reporting
Application of IT – Python
Statistical and Risk Modelling - 4
Pricing and Reserving for Life Insurance Products - 2
Actuarial Practice - 2
Predictive Analysis and Machine Learning
Application on Actuarial Software
Business Communication
Project Based Internship
Programming Softwares / Tools Covered
Advisory Board
Backed By The Best
D. Sivanandhan
IPS Officer (Retd.),
Board of Director on various companies
Ex – member: Central Security Cell (RBI)
Thomas Mathew T
Board of Director (L&T group co.)
Former Chairman-in-charge and MD (LIC of India)
Nilesh Shah
Managing Director (Kotak Mahindra AMC ltd.)
Chairman (Association of Mutual Funds of India)
Member (Prime minister’s economic advisory council)
JV Prasad
FIAI, Director
(Willis Towers Watson)
Ex – Appointed Actuary
(ICICI Lombard GIC)
Sauvik Banerjjee
CTO (Tata Digital)
MIT Starter hub mentor
TEDx Speaker
Pratibha Jain
Founder and Managing Director (Eduabroad Consultant)
Education counsellor (University of Mumbai’s affiliated colleges)
Rajesh Khairajani
Partner
(KNAV International and Inde Global Advisory)
Institute of Actuarial and Quantitative Studies – IAQS in association with S. S. & L. S. Patkar College of Arts & Science, and V. P. Varde College of Commerce & Economics, an affiliated college of the University of Mumbai. Students are admitted by the University of Mumbai’s Patkar-Varde College for Bachelors and Masters Programmes (Actuarial Science and Quantitative Finance).