MSc In Actuarial Management Structure B & C

Approval Code R/343/7/0109; 01/2024
Accreditation Code MQA/FA3611
Classification MSc
Subject Area Actuarial Management
Course Mode Full-time
Course Duration Minimum 1 Year
Course Location Kuala Lumpur
Intakes January, May and September


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.

Structure C is ideal for professionals such as mathematics teachers, engineers or economists who want a mid-career switch to the actuarial profession. 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.

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.


Programme Details

The MSc in Actuarial Management can be pursued either part-time (2 years) or full-time* (1 year). Structure C will include a total of 41 credit hours while 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 into MSc. (Actuarial Management) (Structure C – Coursework)
Qualification
Academic Requirements
Bachelor’s degree

A Bachelor’s degree [Level 6, Malaysian Qualifications Framework (MQF)] or equivalent from related disciplines with minimum CGPA of 2.50, as accepted by Higher Education Provider (HEP) Senate; or

A Bachelor’s degree [Level 6, Malaysian Qualifications Framework (MQF)] or equivalent from related disciplines with CGPA below 2.50, or its equivalent qualification can be accepted, subject to a minimum of 5 years of working experience in relevant field; or

Other relevant qualifications as accepted by government Malaysia.
 

Entry into MSc. (Actuarial Management) (Structure B – Mixed Mode)
Qualification
Academic Requirements
Bachelor’s degree

A Bachelor’s degree [Level 6, Malaysian Qualifications Framework (MQF)] or equivalent from related disciplines with minimum CGPA of 2.75, as accepted by Higher Education Provider (HEP) Senate; or

A Bachelor’s degree [Level 6, Malaysian Qualifications Framework (MQF)] or equivalent from related disciplines with CGPA at least 2.50 but below 2.75, or its equivalent qualification can be accepted, subject to the Higher Education Provider (HEP) rigorous internal assessment; or

A Bachelor’s degree [Level 6, Malaysian Qualifications Framework (MQF)] or equivalent from related disciplines with CGPA below 2.50 or its equivalent qualification can be accepted, subject to a minimum of 5 years of working experience in relevant field; or

Other relevant qualifications as accepted by government Malaysia.

 

*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

  • IELTS minimum Band 6.0
  • TOEFL  (Internet-based) minimum 60
  • Cambridge English Qualification and Test minimum score of 169
  • Pearson Test of English minimum score 59
  • MUET minimum Band 4

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
Structure C
Semester 1 (12 credit hours)
  • Probability & 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
Semester 1 (12 credit hours)
  • Probability & Statistical Method
  • Research Methods for Business and Management
  • Life Contingency
  • Actuarial Models
 
Semester 2 (12 credit hours)
  • Empirical Modelling for Actuary
  • Insurance Business Practices
  • Empirical Workshop
  • Elective
 
Semester 3 (18 credit hours)
  • 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

 

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