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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

Entry into MSc. (Actuarial Management) (Structure C – Coursework)

​Bachelor’s degree

i. A Bachelor’s degree in the field or related fields with a minimum CGPA of 2.50 out of 4.00 or equivalent, as accepted by the HEP Senate; or

ii. A Bachelor’s degree in the field or related fields or equivalent with a minimum CGPA of 2.00 out of 4.00 and not meeting a CGPA of 2.50 out of 4.00, can be accepted subject to rigorous internal assessment;

iii. Candidates without a qualification in the related fields or working experience in the relevant fields must undergo appropriate prerequisite courses determined by the HEP and meet the minimum CGPA based on (i) to (ii).

Entry into MSc. (Actuarial Management) (Structure B - Mixed Mode)

​Bachelor’s degree

i. Bachelor’s degree in the field or related fields with a minimum CGPA of 2.75 out of 4.00 or equivalent, as accepted by the HEP Senate; or

ii. A Bachelor’s degree in the field or related fields or equivalent with a minimum CGPA of 2.50 out of 4.00 and not meeting CGPA of 2.75 out of 4.00, can be accepted subject to rigorous internal assessment; or

iii. A Bachelor’s degree in the field or related fields or equivalent with a minimum CGPA of 2.00 and not meeting CGPA of 2.50 out of 4.00, can be accepted subject to a minimum of 5 years working experience in the relevant field and rigorous internal assessment.

*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
IELTS
Band 6.0
TOEFL IBT
60
Cambridge English Qualification and Test
169
Pearson Test of English
59
MUET
Band 4

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 29,930

Download Fee Schedule

International Students

Approximate Total Fees:

RM 44,225

Download Fee Schedule

Master in Science (Actuarial Management) Structure C

Local Students

Approximate Total Fees:

RM 31,380

Download Fee Schedule

International Students

Approximate Total Fees:

RM 45,600

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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