Actuarial and Financial Mathematics programmes
- BSc (Hons) in Actuarial Science
- BSc (Hons) in Financial Mathematics
- MSc/Diploma in Actuarial Science
- MSc/Diploma in Actuarial Management
- MSc/Diploma in Financial Mathematics
- MSc/Diploma in Quantitative Financial Risk Management.
The department
Heriot-Watt’s department of Actuarial Mathematics and Statistics was the first of its kind in the UK and is now one of the world’s leading centres for teaching and research in these areas. Many of its members are professionally qualified actuaries so teaching is always relevant and practical.
Our actuarial science programmes are accredited by the UK Actuarial Profession, something only a small number of institutions can boast. Links to employers in the public and private sectors are strong and employment prospects for our graduates are excellent – some current final year students have secured positions in such companies as Swiss Re, PwC and Standard Life.
The university is situated in beautiful parkland in the west of Edinburgh within easy reach of the bustling city centre. As a financial hub, Edinburgh is second only to London in the UK and is the second biggest centre in Europe for equity investment management. There is a long tradition of association with life assurance companies around St Andrew’s Square, and the Faculty of Actuaries has its headquarters here.
The department is a part of the Maxwell Institute for Mathematical Sciences, a joint research institute in the Edinburgh Research Partnership collaboration between Heriot-Watt and Edinburgh Universities.
BSc (Hons) in Actuarial Science
This programme gives students a solid foundation for a future career in the actuarial or financial world. Those who perform well on it can obtain exemption from some or all of CT1–CT8 series of the joint examinations of the faculty and Institute of Actuaries. In addition, there’s the possibility of a year’s industrial experience or the opportunity to study for a year abroad. Our students are renowned for becoming actively involved in the Faculty of Actuaries Students’ Society and there’s also a lively students’ actuarial group within the university. In 2008 the society organised a highly successful actuarial conference; this included seeking appropriate speakers and securing sponsorship.
BSc (Hons) in Financial Mathematics
This programme is for students who are good at mathematics, who have a desire to work in the financial world, and who are not afraid of hard work in return for high rewards! The degree gives students a solid foundation for a future career as a financial mathematician. The early parts of the programme include introductory mathematics, probability, statistics, finance and economics which provide a broad base of skills for the later financial mathematics work. This later work covers the main areas of application from basic compound interest and portfolio theory to the more technically demanding field of derivative pricing.
MSc/Diploma in Actuarial Science
This one year taught postgraduate programme is a must for graduates with strong mathematical skills who are looking to enter the actuarial profession. Topics covered correspond to the CT1-CT8 series of the professional examinations and as with the BSc programme, students who perform well can obtain exemptions from some or all of these professional exams. Over its many years of operation, the programme has become firmly established and has been able to achieve a worldwide reputation for quality of provision.
Graduates will go on to practice in many sectors including finance, investment, risk management, insurance and pensions, working under the aegis of well established professional bodies. The roles will be varied, in line with the growing importance of actuaries as key arbiters of risk in business and financial processes.
The programme can be studied on a part-time basis over a longer period if desired.
MSc/Diploma in Actuarial Management
Following the success of our bachelors and masters programmes we have launched this new advanced masters programme. Successful students can have exemptions in two of the Core Applications subjects (CA1 and CA3) and a choice of up to three Specialist Technical (ST) subjects. Students who graduate with a full set of exemptions only have three more exemptions to pass, as well as gaining the necessary experience, to quality as a fellow of the Faculty and Institute of Actuaries. Full-time study with experienced, qualified, teachers and modern facilities is the ideal way to make rapid progress through these challenging stages of the most sought after professional training. Admission requires a first degree or MSc with sufficient actuarial or financial content.
MSc/Diploma in Financial Mathematics
This one year taught postgraduate programme covers the advanced mathematics that has revolutionised finance since the works of Black and Scholes and of Merton in the early seventies. The revolution continues to this day and this programme is aimed squarely at those students who are passionate about mathematics and driven to make a career amongst the many and varied financial institutions throughout the world.
Run jointly by the University of Edinburgh and Heriot-Watt University, the programme provides an intensive training in the mathematical ideas and tools vital to the finance industry. By developing essential new mathematical concepts, especially in stochastic calculus, and placing the mathematics in the contexts of financial markets, modelling, derivative pricing, portfolio theory and risk management, the programme equips students for a range of lucrative and exciting career opportunities.
MSc/Diploma in Quantitative Financial Risk Management
In recent years the regulators of both the banking and insurance industries have been very concerned with the development of capital adequacy systems to protect consumers, policy-holders and ultimately the financial system from the dangers posed by the failure of companies. The result of this has been increased demand for individuals with the ability to apply quantitative models of financial risk. This new programme has been designed to address the demand in the financial services industry for advanced quantitative risk modelling skills.
Research
Our research effort focuses on:
- Probability & statistics
- Financial mathematics
- Actuarial mathematics
Accommodation
Campus accommodation is guaranteed for all students who have an unconditional offer and who apply by the mid-August deadline.
The city of Edinburgh
Edinburgh’s established reputation as a centre of cultural activity is reflected in its museums, libraries, theatres, art galleries, restaurants and musical life. As host city to international conferences, exhibitions, sporting and athletics meetings and as the home to Europe’s premier international festival of music and drama, Edinburgh presents its visitors with a stimulating intellectual environment. For the latest information on courses -
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