BSc Hons Financial Mathematics and Actuarial Science

Undergraduate Entry Requirements

Application Fee: € 50

Academic Qualifications: For undergraduate programs, applicants require a minimum academic score of 80-85% or above in their previous studies.

English Language Proficiency:

• IELTS: Overall score of 6.0 or 6.5, with no individual band below 5.5.
• TOEFL: Overall score of 90, with specific section requirements: Listening 20, Reading 20, Speaking 21, Writing 20.
• PTE: Overall score of 63, with no section below 59.
• DET: Overall score of 120, with a minimum of 110.

Students must provide:

• academic marksheets & transcripts
• letters of recommendation
• a personal statement - SOP
• passport
• other supporting documents as required by the university.

It's important to note that entry requirements can vary by program and may change over time. Additionally, some programs may have additional requirements, such as interviews, portfolios, or work experience.

University College Cork (UCC) offers various scholarships and financial aid options to support international students in their academic pursuits. These scholarships are aimed at assisting students with tuition fees, living expenses, and other educational costs. 

International Merit-Based Scholarships: UCC provides merit-based scholarships for high-achieving international students entering undergraduate or postgraduate programs. These scholarships recognize academic excellence and may cover partial tuition fees or provide stipends.

Government and External Scholarships: International students may also be eligible for scholarships offered by their home governments, non-governmental organizations, or external funding bodies. UCC assists students by providing information and support in applying for these external scholarship opportunities.

Research Scholarships and Grants: For postgraduate research students, UCC offers various grants and scholarships to support research endeavors. These scholarships often cover tuition fees and provide additional stipends for living expenses.

Sports Scholarships: UCC recognizes talented athletes and offers sports scholarships to support their academic and athletic pursuits. These scholarships assist students in balancing their sports with their studies.

Faculty-Specific Scholarships: Certain faculties or departments within UCC offer scholarships tailored to specific academic disciplines. These scholarships aim to attract exceptional students to particular programs and fields of study.

Need-Based Financial Aid: The university understands the financial challenges international students might face and offers need-based financial aid programs to assist students who demonstrate financial need.

The BSc Hons Financial Mathematics and Actuarial Science program at University College Cork prepares graduates for diverse and rewarding careers in actuarial science, risk management, quantitative finance, financial analysis, insurance underwriting, or financial planning. With its strong emphasis on mathematical rigor, analytical skills, and practical applications, the program equips graduates with the expertise and confidence to succeed in the dynamic and competitive field of finance and insurance.

1. Actuary: Graduates of the BSc Hons Financial Mathematics and Actuarial Science program can pursue careers as actuaries, where they assess and manage financial risks for insurance companies, pension funds, and other financial institutions. Actuaries use mathematical models and statistical techniques to analyze data, calculate insurance premiums, and determine reserves, helping organizations make informed decisions to safeguard against future uncertainties. They may specialize in areas such as life insurance, property and casualty insurance, health insurance, or pensions, and can work in consulting firms, insurance companies, government agencies, or financial services firms.

2. Risk Analyst: Another career path for graduates is as risk analysts, where they assess and manage financial risks for banks, investment firms, or corporate entities. Risk analysts evaluate market risks, credit risks, liquidity risks, and operational risks, using quantitative methods and financial models to measure risk exposure and develop risk management strategies. They may work in risk management departments, regulatory compliance units, or internal audit functions, helping organizations identify potential risks, implement risk mitigation measures, and ensure regulatory compliance.

3. Quantitative Analyst (Quant): Graduates may also pursue careers as quantitative analysts or quants, where they develop mathematical models, algorithms, and trading strategies to analyze financial markets, optimize investment portfolios, and price complex financial instruments. Quants use advanced statistical techniques, programming languages, and computational tools to analyze large datasets, identify patterns, and forecast market trends, contributing to the development of trading systems, risk management models, and investment strategies for hedge funds, asset management firms, or proprietary trading desks.

4. Financial Analyst: Another potential career path is as a financial analyst, where graduates analyze financial data, evaluate investment opportunities, and provide recommendations to investors, corporations, or financial institutions. Financial analysts conduct financial modeling, perform valuation analyses, and prepare financial reports to support investment decisions, mergers and acquisitions, or corporate finance transactions. They may work in investment banks, asset management firms, consulting firms, or corporate finance departments, providing insights into market trends, industry dynamics, and company performance to support decision-making processes.

5. Insurance Underwriter: Graduates may also work as insurance underwriters, where they assess insurance applications, determine coverage levels, and set premium rates for insurance policies. Underwriters evaluate risk factors such as age, health status, and occupation to calculate insurance premiums and determine policy terms, ensuring that insurance companies maintain profitability and manage risk effectively. They may specialize in different types of insurance, such as life insurance, health insurance, property and casualty insurance, or reinsurance, and can work for insurance companies, brokerage firms, or reinsurance companies.

6. Financial Planner/Advisor: Another career option is as a financial planner or advisor, where graduates provide personalized financial advice and investment recommendations to individuals or families. Financial planners help clients set financial goals, develop investment strategies, and manage their wealth to achieve long-term financial security. They may work for financial planning firms, banks, or insurance companies, guiding clients through various life stages and helping them make sound financial decisions based on their goals, risk tolerance, and financial situation.