Master of Business Administration (MBA)
The University of Manitoba offers a prestigious Master of Business Administration (MBA)...
Bachelor of Science (Honours) in Actuarial Mathematics
Winnipeg, Manitoba
INTAKE: Jan & Sept
Program Overview
The Bachelor of Science (Honours) in Actuarial Mathematics program at the University of Manitoba offers students a rigorous education in mathematical and statistical techniques applied to risk assessment and financial modeling. Actuarial mathematics is a specialized field that combines elements of mathematics, statistics, economics, and finance to analyze and manage risk in insurance, pensions, investments, and other financial sectors. This program is designed to provide students with the mathematical and analytical skills needed to pursue careers as actuaries or risk analysts in insurance companies, consulting firms, government agencies, and financial institutions.
Curriculum: The curriculum of the Bachelor of Science (Honours) in Actuarial Mathematics program covers a wide range of topics related to actuarial science, mathematics, statistics, and finance. Core courses include subjects such as calculus, linear algebra, probability theory, mathematical statistics, financial mathematics, risk theory, and actuarial modeling. Students also study topics in economics, computer science, and business to develop a well-rounded understanding of the financial industry. The program includes opportunities for students to gain practical experience through internships, co-op placements, or capstone projects, allowing them to apply their knowledge and skills in real-world settings.
Research Focus: Research in actuarial mathematics encompasses theoretical and applied studies in risk assessment, financial modeling, and insurance analytics. Faculty members are engaged in research projects that explore topics such as mortality and longevity modeling, catastrophe risk modeling, predictive modeling in insurance, asset-liability management, and risk management strategies. Students have the opportunity to participate in research projects, independent studies, or honors theses, gaining valuable research skills and contributing to advancements in the field of actuarial science.
Industry Engagement: The University of Manitoba maintains strong connections with the actuarial industry to provide students in the Bachelor of Science (Honours) in Actuarial Mathematics program with opportunities for industry engagement. Through partnerships with insurance companies, actuarial firms, government agencies, and financial institutions, students have opportunities for internships, co-op placements, or summer employment. Industry professionals also contribute to the program through guest lectures, workshops, and networking events, providing students with insights into current trends, practices, and career pathways in the actuarial profession.
Global Perspective: The Bachelor of Science (Honours) in Actuarial Mathematics program emphasizes the importance of understanding actuarial science from a global perspective. Courses explore international standards and regulations in insurance and finance, as well as global trends and challenges in risk management and financial modeling. Students may have the opportunity to study abroad, participate in international actuarial conferences, or collaborate with researchers from other countries, gaining exposure to diverse perspectives and approaches in actuarial practice and research.
Location
Winnipeg, Manitoba
Score
IELTS 6.5
Tuition Fee
CAD 19830
Application Fees: CAD$ 120
Academic Requirements: Completion of secondary school education with a minimum average of 85%. Please note that specific programs may have additional requirements or higher admission standards.
English Language Proficiency:
- IELTS: A minimum overall score of 6.5, with no band score less than 6.
- TOEFL: A minimum score of 86 on the internet-based test (iBT).
- PTE Academic: A minimum score of 58.
- DET (Duolingo English Test): A minimum score of 120.
The University of Manitoba offers a variety of scholarships and financial aid options to support international students in their academic pursuits. These scholarships recognize academic excellence, leadership potential, and financial need.
International Student Entrance Scholarships: These scholarships are available to international students entering undergraduate programs.The scholarships are awarded based on academic achievement, with different scholarship levels based on GPA.The value of the scholarships ranges from $1,000 to $40,000.
International Graduate Student Entrance Scholarships: These scholarships are available to international students applying for graduate programs.The scholarships are awarded based on academic achievement and potential.The value of the scholarships ranges from $5,000 to $17,500.
Faculty-Specific Scholarships: Various faculties within the university offer scholarships specific to their programs of study. These scholarships are available to both undergraduate and graduate international students.The eligibility criteria and values of these scholarships vary depending on the faculty.
External Scholarships: The University of Manitoba encourages international students to explore external scholarship opportunities.There are several external scholarship programs available for international students to fund their studies at the university.The university provides guidance and support in identifying and applying for these external scholarships.
It is important to note that the eligibility criteria, application processes, and deadlines for scholarships may vary.
Graduates of the Bachelor of Science (Honours) in Actuarial Mathematics program at the University of Manitoba are well-equipped with the quantitative skills and analytical expertise necessary to pursue various rewarding careers in the financial industry, particularly in the field of actuarial science.
Actuary: Graduates may pursue careers as actuaries, where they use mathematical and statistical methods to assess and manage risk for insurance companies, pension funds, and other financial institutions. Actuaries analyze data, develop models, and calculate premiums, reserves, and liabilities to help organizations make informed decisions about pricing, underwriting, and risk management.
Risk Analyst: Graduates may work as risk analysts or risk managers in insurance companies, banks, investment firms, or consulting companies. They assess and quantify financial risks, such as credit risk, market risk, and operational risk, and develop strategies to mitigate these risks through hedging, diversification, or risk transfer mechanisms.
Insurance Underwriter: Graduates may pursue careers as insurance underwriters, where they evaluate insurance applications, assess risks, and determine appropriate coverage and premiums for policyholders. Underwriters use actuarial principles and statistical analysis to evaluate the likelihood of insurance claims and make decisions about insurability and pricing.
Pension Consultant: Graduates may work as pension consultants or retirement advisors, helping individuals, employers, and pension funds navigate complex retirement planning and pension administration issues. They provide guidance on pension plan design, funding strategies, investment options, and regulatory compliance to ensure financial security for retirees.
Investment Analyst: Graduates may work as investment analysts or financial analysts in investment management firms, asset management companies, or investment banks. They analyze financial markets, evaluate investment opportunities, and develop investment strategies to optimize portfolio performance and achieve financial objectives for clients or organizations.
Data Scientist: Graduates with strong quantitative and analytical skills may pursue careers as data scientists or data analysts in various industries, including finance, insurance, healthcare, and technology. They analyze large datasets, extract insights, and develop predictive models to support decision-making and drive business outcomes.
Actuarial Consultant: Graduates may work as actuarial consultants for consulting firms or advisory companies, providing actuarial services to a diverse range of clients. They may advise on insurance product development, risk assessment, mergers and acquisitions, regulatory compliance, and financial reporting, helping organizations navigate complex actuarial challenges and opportunities.
Financial Planner: Graduates may pursue careers as financial planners or wealth managers, assisting individuals and families with financial goal setting, retirement planning, investment management, and risk mitigation strategies. They develop personalized financial plans, recommend investment products, and provide ongoing guidance to help clients achieve their financial objectives.
Quantitative Analyst: Graduates with strong quantitative skills may work as quantitative analysts or quants in financial institutions, hedge funds, or proprietary trading firms. They develop and implement mathematical models, algorithms, and trading strategies to analyze market trends, identify opportunities, and optimize trading performance in financial markets.
Risk Management Specialist: Graduates may work as risk management specialists in corporations, government agencies, or regulatory bodies, helping organizations identify, assess, and mitigate operational, financial, and strategic risks. They develop risk management frameworks, policies, and procedures, and provide guidance on risk governance, compliance, and internal controls.
