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Master Of Science (Actuarial Management) - (Mixed Mode Or Coursework)

Intakes
January, May and September
Course Duration
Minimum 1 Year
Course Location
Kuala Lumpur
Course Mode
Full-time
Approval Code
R/462/7/0024; 01/2024
Accreditation Code
MQA/FA3611


Overview

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.

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* This programme received a 100% graduate employability score in the Ministry of Higher Education’s Graduate Employability 2020. (Source: ge.mohe.gov.my/)

About the Programme

Programme Details

The MSc in Actuarial Management can be pursued either part-time (2 years) or full-time* (1 year). Coursework(Structure C) will include a total of 41 credit hours while mixed mode(Structure B) has a total of 42 credit hours. The various learning methods include case-based, project-based and simulation-based learning.

Assessment

The assessment includes a combination of examinations, project, presentations and a research thesis. Learners can expect to deepen their knowledge in the field of actuarial science and the management skills that are applicable to the insurance industry and corporate management. They can also enhance their understanding of both academic theoretical conceptualisation and the professional practices.

* More than 6 credit hours per semester.

Entry Requirements

MASTER'S DEGREE BY COURSEWORK

​Bachelor’s degree

i. A Bachelor’s degree with minimum CGPA of 2.50 out of 4.00 or its equivalent qualifications as accepted by the HEP Senate; OR

ii. A Bachelor’s degree with CGPA below 2.50 out of 4.00 or its equivalent qualifications can be accepted, subject to a minimum of 5 years of working experience in relevant field.

MASTER'S DEGREE BY MIXED MODE

​Bachelor’s degree

i. A Bachelor’s degree with minimum CGPA of 2.75 out of 4.00 or its equivalent qualifications as accepted by the HEP Senate; OR

ii. A Bachelor’s degree not meeting CGPA of 2.75 but above the CGPA of 2.50 out of 4.00 or its equivalent qualifications may be accepted, subject to the HEP rigorous internal assessment (may include tests, interviews or portfolio); OR

iii. A Bachelor’s degree below a CGPA of 2.50 out of 4.00 or its equivalent qualifications may be accepted, subject to a minimum of 5 years of working experience in relevant field.

Note:

The requirement to pass Mathematics and English at SPM level in the first and second items can be waived should the qualifications contain Mathematics and English subjects with equivalent/higher achievement.

*Related disciplines refer to areas such as Finance, Mathematics, Statistics, Banking, or even Engineering, all of which are courses with a heavy emphasis on mathematics, statistics and/or finance.

Examples of areas that do not meet this requirements are medicine, pharmacy, logistics, IT, business administration, management, marketing, and social science related courses.

English Language Requirements

For International Students
Cambridge English Qualifications and Tests
(i) B1 Preliminary, B2 First, C1 Advanced, C2 Proficiency: 169
(ii) Linguaskill Online: 169
(iii) Occupational English Test (OET): 250
IELTS
Band 6.0
Cambridge English Qualifications and Tests
160
TOEFL IBT
60
TOEFL Essentials (Online)
8.5
Pearson Test of English
59
MUET
Band 4

  • International applicants have to fulfill the English requirements as listed above for international students before applying the programme.
  • International applicants who come from a country which uses English Language as the official language OR have an academic qualification from a higher learning institution which uses English Language as a medium of instruction can be granted an exemption from the University English requirements and MQA requirement.
  • International applicants who do not meet the respective academic programme’s English Language Requirements will need to improve their proficiency by enrolling into the English for Tertiary Education programme (R/KJP/00920-00929) for maximum 2 years AND pass one of the English examination as listed for international students.
  • Placement into the various levels of the English for Tertiary Education programme depends on the English Language qualification students have at the point of admission and/or the outcome of the English Placement Test.

Courses Offered

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

Career Opportunities

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

Tuition Fees

Master in Science (Actuarial Management) Structure B

Local Students

Approximate Total Fees:

RM 30,608

Download Fee Schedule

International Students

Approximate Total Fees:

RM 45,539

Download Fee Schedule

Master in Science (Actuarial Management) Structure C

Local Students

Approximate Total Fees:

RM 32,736

Download Fee Schedule

International Students

Approximate Total Fees:

RM 48,228

Download Fee Schedule

All information is correct at the time of upload and UCSI University reserves the right to make amendments without prior notice.

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