MS in Actuarial Science, Finance Concentration

The Master of Science in Actuarial Science concentration in Finance at Boston University’s Metropolitan College (MET) offers a specialized focus on financial principles and their application to actuarial practice. Exploring advanced topics such as financial derivatives, portfolio management, and risk assessment in financial markets, you will develop in-depth knowledge of investment strategies, asset-liability management, and financial modeling techniques specific to insurance and pension fund operations. By emphasizing the intersection of actuarial science and finance, the curriculum prepares you to tackle complex financial challenges in insurance companies, consulting firms, and other financial institutions. A combination of theoretical coursework and practical case studies will help you develop the analytical skills necessary to navigate the evolving landscape of financial risk management and actuarial finance.

Courses in BU MET’s Actuarial Science master’s degree program are designed to not only help you have a deep understanding of the subject matter, but also to assist you in preparing for examinations offered by the SoA and CAS. These examinations are essential in an actuary’s career. Students who follow the SoA exam track will typically work in fields such as life insurance, health insurance, long-term care insurance, and pension plans, all of which use the probability of mortality. Those who follow the CAS exam track will typically work for companies that develop premiums for risks that are more quantifiable, such as automobile and homeowner’s insurance.

Students who complete the Actuarial Science master’s degree concentration in Finance will be able to demonstrate:

• A deep understanding of mathematical finance methods and tools used by actuaries.
• Detailed knowledge of the mathematics and modeling techniques that form the core of actuarial calculations. This knowledge includes topics in probability, statistics, life contingencies, loss models, credibility theory, investment theory, and financial mathematics.
• An accurate and deep understanding of these core actuarial topics and the ability to creatively solve increasingly complex business problems.
• Proficiency in distinguishing and describing a wide range of actuarial practice areas in-depth and knowledgeably, and the ability to articulate an understanding of the principles that govern the development of both standard insurance products and new developments risk management models.
• Competency in the computer skills required to analyze data using leading-edge software tools of the trade in insurance, risk management, and related industries.

Qualifying international students in F-1 status are also entitled to Curricular Practical Training (CPT), a type of employment/internship authorization, after completing two consecutive full-time semesters of study in the program.

Second Master’s Degree Option

In appreciation of the converging needs of management and technology, the departments of Actuarial Science, Administrative Sciences, and Computer Science collaborate to offer a unique opportunity to students currently enrolled in their degree programs as well as alumni of those programs. Learn more.