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Master of Science in Actuarial Management with Data Science

Master of Science in Actuarial Management with Data Science

at Heriot-Watt University - Edinburgh Campus United Kingdom

Overview

Data science today is becoming increasingly important within the actuarial field, and Heriot-Watt has developed this unique new programme to meet this growing actuarial demand.

Taking our MSc in Actuarial Management with Data Science is a great way to speed your progress to this most prestigious of careers - it's designed to take you almost all of the way to qualification. Our MSc in Actuarial Management is an established and successful programme covering the more advanced actuarial subjects.The MSc in Actuarial Management with Data Science introduces exciting new opportunities for actuaries of the future.

Entry to the actuarial profession is by a demanding series of examinations, but the rewards after qualifying are great. The Institute and Faculty of Actuaries in the UK has four levels of examinations to qualify. The first level, the Core Principles (CS, CM and CB) subjects, are taught in our BSc or MSc in Actuarial Science and lead to exemptions from subjects CS1, CS2, CM1, CM2, CB1 and CB2. Students will typically study CP1, CP2, CP3, two SP subjects (two SP subjects are needed to satisfy the profession's requirements) and two courses on data science applied to insurance.

Actuarial data science combines advanced statistical modelling and analysis with modern computational techniques in order to analyse potentially large datasets arising in insurance and finance. These analyses have the ability to improve forecasts and enhance decision making in an uncertain environment where rapid advancements in technology and data availability are transforming fields of actuarial work. Additionally, they are building synergies with new sectors such as medical and healthcare. This is an area of science and technology that is attracting significant interest and that will continue to grow for the foreseeable future, as more and more industries adopt data-driven and data-centric approaches.

Students graduating from the MSc will have excellent employment prospects that are not restricted to any one narrow sector of financial services. By their choice of IFoA subjects, they may target the life, pensions, asset management, investment and risk management sectors. They will be in demand in quantitative risk management roles in both banks and insurance companies, as well as fund management companies, hedge funds, consultancies, software vendors and regulatory authorities. The market for graduates with actuarial qualifications complemented with data science skills is growing fast and we expect that it will continue to grow for the foreseeable future.

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30

Application Processing Days

Under Graduate

Program Level

Fact & Figures

Full Time On Campus

Study Mode

12

Duration

Heriot-Watt University - Edinburgh Campus

Location

Master of Science in Actuarial Management with Data Science Assistant Fee

$23112

Tuition Fee

$0

Average Cost of Living

$0

Application Fee

Master of Science in Actuarial Management with Data Science Admissions Requirements

  • Minimum Level of Education Required: To be accepted into this program, applicants must have a Bachelor’s Degree.
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Where would you like to study*

Work Permit United Kingdom

There are various options through which a student can get a post study work visa in the UK. 
Tier 1 Graduate Entrepreneur Visa for the graduates with a genuine and credible business idea. 
Tier 2 (General) is the leading immigration visa to work in the UK.
Tier 4 Doctorate Extension Scheme is for students who have completed their Ph.D. and is valid for 12 months for them to work, look for work or set up a business. 
Tier 5 Youth Mobility is for individuals of certain countries like Australia, Canada, Japan, Monaco, Hong Kong, South Korea, Taiwan, and New Zealand aged between 18 -30 who wish to move to the UK. 
Tier 5 GAE is for individuals who want to come to the UK for work experience, training, research or a fellowship. 
UK Ancestry is for individuals who are a citizen of a commonwealth and plan to work in the UK and have a grandparent who was born in the UK.
 

Detailed Program and Facts

30

Application Processing Days

Full Time On Campus

Program Intensity

Under Graduate

Program Level

12

Duration

Study Visa

English Test Requirement

6.5

Minimum Overall Score

79.0

Minimum Overall Score

58.0

Minimum Overall Score

Other Courses by Heriot-Watt University - Edinburgh Campus,United Kingdom

Commercial Management and Quantity Surveying at Heriot-Watt is designed to meet the needs of the financial management and quantity surveying sectors. The degree offers a solid theoretical base, combined with a strong focus on industrial relevance.

To enhance your career prospects and international experience, we are now offering our established and standard one year Commercial Management and Quantity Surveying Masters over two years through offering a ‘with Industry Placement’ alternative.

This Commercial Management and Quantity Surveying with Industry Placement option offers a practical experiential element over the traditional one-year degree structure, allowing students to reflect on theory in practice.

24 month

Duration

$ 16184

Tuition

The masters degree in Logistics and Supply Chain Management from Heriot-Watt University's Edinburgh Business School calls upon established industry links and sector-leading research to equip students with cutting-edge expertise.

This MSc is accredited by the Chartered Institute of Logistics and Transport and has built a reputation for producing graduates of the highest calibre over the past 25 years. It will give you access to the knowledge of world-leading researchers and practitioners, and allow you to gain professional insights direct from industry.

This is a Specialist MSc
MSc Logistics and Supply Chain Management is a Specialist MSc programme led by academics at the Edinburgh Business School. As a Specialist MSc, this degree gives those who have worked in the field or studied a similar subject previously, the chance to expand, refine and enhance their knowledge.

This 1-year Masters programme focuses almost entirely on the area of Logistics and Supply Chain Management. It blends cutting-edge academic thinking with best practice from industry to give graduates and professionals the opportunity to advance with a highly employable skillset.

12 month

Duration

$ 22912

Tuition

The 2020 National Student Survey placed chemical engineering at Heriot-Watt as 1st in Scotland and 5th in the UK, based on students’ overall satisfaction with our programmes.

The Times and Sunday Times Good University Guide 2021 ranked Heriot-Watt University as 1st in Scotland and 4th in the UK for Chemical Engineering.

Our MEng in Chemical Engineering provides students with both the theory and practical application expected by industry. We have strong links with professional communities, allowing us to enhance the career prospects of our graduates.

Programme structure:
The MEng programme is a five-year degree which shares the same first four years with the BEng programme. You choose which route to follow at the end of your 4th year, giving you the flexibility to decide which degree best suits your career ambitions.

Our MEng programme gives you a sound understanding of both the chemical and process engineering fundamentals that you need to become a professional chartered engineer. In addition to a grounding in science, maths and engineering, our students acquire practical abilities that are highly sought after by industry.

The final year of the MEng programme offers a range of advanced courses to broaden and deepen students’ understanding of chemical and process engineering. Students study optional courses from a range of specialist engineering subjects along with an extensive research project. Final year MEng students also undertake a commercial tender-based exercise taking on the role of an engineering design house pitching for business to our industrial advisory board.

60 month

Duration

$ 20584

Tuition

Natural Sciences & Mathematics

Master of Science in Mathematics

Our MSc in Mathematics is designed to provide students with an in-depth understanding of a range of topics in mathematics. In addition, students who meet the appropriate criteria and proceed to the project will gain experience in presenting results in mathematics in a clear and concise manner. The MSc has at its core fundamental courses in pure mathematics and students will be able to take options from both pure and applied mathematics. Projects will concentrate on core mathematics.

Core courses include functional analysis and partial differential equations, while the various optional courses we offer include optimisation, solitons and differential geometry. The range of options for summer projects is broader and includes topics in spectral theory, applied analysis, integrable systems and mathematical physics.

Learn more about the MSc Mathematics directly from the Head of the Mathematics Department, Professor Bernd Schroers in this video.

12 month

Duration

$ 16184

Tuition

MSc Finance and Management at Heriot-Watt University gives you the platform to develop highly employable, specialist expertise across the modern practices of financial management and business management.

This highly respected masters degree programme has been developed in response to industry demands for dynamic graduates who can combine expertise in financial management with the ability to implement effective business management strategies across organisations of any size.

Taught with a genuine industry focus by professionals and leading researchers from the fields of financial management and business management, this programme will open up many new career opportunities.

Whether you come from a relevant honours degree or an industry position in finance or business this programme will meet your ambition and equip you with a wealth of globally attractive and highly employable qualities.

This programme will improve your confidence, communication, creativity and fine-tune your team work and organisational skills. Group work and classroom discussion will give you insights into the working practices and perspectives of many different cultures and prepare you for a global career where you will work with colleagues from all over the world.

MSc Finance and Management includes a bespoke range of courses which will equip you with highly employable expertise across crucial areas of financial management and business management, specifically:

  • Project management
  • Financial research
  • Financial analysis
  • Portfolio management
  • Corporate governance
  • Corporate market analysis
  • Business strategy

Gaining up-to-date expertise across these areas will put you in the position to succeed in roles such as financial analyst, investment banker, financial consultant and corporate finance specialist in highly lucrative areas such as asset management, corporate finance and banking.

The blend of skills and qualities developed through MSc Finance and Management can also be applied to managerial positions in small businesses where proper control of corporate finances is essential or to larger businesses and public sector organisations where financial management can play a critical role in defining organisational success.

12 month

Duration

$ 18288

Tuition

If you want to start your career with a year's work experience in hand, then you should consider this course. It combines the rigorous studies of the BSc (Hons) Actuarial Science with a year-long work placement in level 4. The work placement gives you experience of working in an organisation such as a life insurance company, a pension consultancy, an investment management firm or a bank. The Diploma in Industrial Training is gained through successful completion of this work placement. The work placement helps you to develop specific work-related skills, giving you the opportunity to apply and build upon the theory you learn in your studies. It allows you to take on real responsibilities, enhance your interpersonal skills through teamwork and communication and experience workplace culture.

The Diploma is available to all students, including those from overseas, as it does not require a work visa. If you are planning to come to the UK using a student visa you should check the Tier 4 Student Visa Policy Guidance to confirm you are permitted to undertake a work placement as part of your studies. It is your responsibility to find a suitable work placement; acceptance onto the course does not guarantee you a placement. If you are registered on the course and are unable to find a suitable work placement before the end of level 3 then you can transfer to the standard BSc (Hons) Actuarial Science degree. Organisations that recent students have secured placements with include Prudential, Aegon and Mercer.

60 month

Duration

$ 18072

Tuition

This is an advanced, specialist course in the rapidly expanding area of renewable energy engineering with a clear Mechanical Engineering focus. The course is aimed at students wishing to develop critical understanding of the significant changes afoot in the energy system due to the development and integration of wind, marine, biomass and solar technologies. The course will enable graduates to develop and implement creative solutions to the problems encountered in renewable energy capture, conversion, storage and management.

Students will gain the knowledge and skills to assess renewable energy resources, design appropriate renewable energy systems, evaluate the performance of these systems and assess the wider impacts of renewable energy development. The course provides introductory courses to fundamental energy science and current energy issues, while the project-led courses focus on the design of renewable energy systems. The course concludes with a research-led dissertation in the summer.

Renewable energy research focuses on six main areas:

  • Photovoltaics and Solar Energy
  • Wind and Marine Energy
  • Renewable Energy Systems
  • Minimising CO2 Emissions
  • Biofuels
  • Wind and Marine Energy

12 month

Duration

$ 20808

Tuition

Natural Sciences & Mathematics

Bachelor of Science (Hons) in Physics

Heriot-Watt University ranked first in the UK for Physics in the National Student Survey 2020 (Overall Student Satisfaction). BSc Physics is accredited by the Institute of Physics and aims to bring this fascinating subject to life.

This physics degree covers subjects including dynamics, electromagnetism, photonics and optics and astrophysics. These areas lead onto the quantum world of subatomic particles, the fascinating nature of light and the challenging but wonderful fields of quantum physics and relativity. Mathematics and practical work play an important part throughout the course, and specialist courses provided a background in physical maths and lab skills for physics applications. In later years, the course offers more specialist topics, including laser physics, solid state physics, optoelectronic devices, nuclear physics and biophysics.

In Year 4, individual research projects in world leading research groups allow you to develop skills in advanced experimental design, modelling and computation. Throughout, the programme will also help with your practical abilities, initiative and teamwork. The Physics degree provides broad and comprehensive training in all aspects of physics and modern science, and is well suited to both non-academic careers and careers in research.

48 month

Duration

$ 20584

Tuition

MSc Intercultural Business Communication develops skills that will allow you to communicate and work with people from all around the world. 

This degree develops intercultural business skills which are increasingly required by businesses and organisations with globalised workplaces and international stakeholders. 

Throughout this Masters degree, you will learn about key issues related to culture, society, and communication, and apply your understanding to authentic business contexts with a strong emphasis on practical intercultural business communication skills.

You will be taught and assessed entirely in English, which makes it suitable for those who would like to adapt their English language skills for a professional context and develop understanding of intercultural issues in international business.

Professional communication skills

MSc Intercultural Business Communication will give you the opportunity to study culture and communication in an academic setting and apply your learning directly to intercultural business contexts, relevant to international organisations and teams.

Embedded in Heriot-Watt University's highly respected Department of Languages and Intercultural Studies, this programme develops advanced corporate communications skills alongside a broad range of professional transferable skills, so you will be ready to thrive in dynamic workplaces where the ability to communicate, summarise and present information is extremely important

You will learn alongside students from all over the world and find yourself working in multicultural teams to apply your learning in real time. As a result, you will be uniquely prepared for a career in international business and global leadership by the time you graduate.

 

12 month

Duration

$ 17304

Tuition

This is a 2-year MSc progamme, offering practical application as well as advanced teaching, design and research in mechanical engineering. It is specifically for graduates with an engineering degree looking to enhance their career opportunities. Students will gain the technical, scientific and managerial abilities essential for a career as a professional mechanical engineer. The programme enables students to obtain an MSc as well as gaining practial experience in an industrial setting.

The programmes delivered by Mechanical Engineering are accredited by the Institution of Mechanical Engineers.

24 month

Duration

$ 22912

Tuition

View All Courses by Heriot-Watt University - Edinburgh Campus, United Kingdom

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