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MSc Actuarial Management with Data Science

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.

Campus Information

Edinburgh Campus

Our Edinburgh Campus is truly international. Over 10,500 staff and students are based here, with around a third of them coming from outside the UK. Our international students find a warm and friendly welcome and all the support they might need.

Intakes

Application Processing Time in Days: 30

Application Process

Visa Process

30 Days

Minimum English Language Requirements

English Level Description	IELTS (1.0 -9.0)	TOEFL IBT (0-120)	TOEFL CBT (0-300)	PTE (10-90)
Expert	9	120	297-300	86-90
Very Good	8.5	115-119	280-293	83-86
Very Good	8	110-114	270-280	79-83
Good	7.5	102-109	253-267	73-79
Good	7	94-101	240-253	65-73
Competent	6.5	79-93	213-233	58-65
Competent	6	60-78	170-210	50-58
Modest	5.5	46-59	133-210	43-50
Modest	5	35-45	107-133	36-43
Limited	4	32-34	97-103	30-36
Extremely Limited	< 4	< 31	< 93	< 30

Job Opportunity Potential

Employers around the world actively seek out our graduates. This is because they are work ready. All our degrees are career focused and relevant to the needs of business and industry.
We are known for our applied teaching and research, informed and shaped by real world needs. 95% of our graduates are in employment or further study within 6 months of graduation.

The Heriot-Watt factor

At Heriot-Watt you will learn from world leading academics at the forefront of their specialisms. You'll enjoy a distinctive, high quality academic experience focused on developing your skills and knowledge to help you transition smoothly into the world of work at the end of your studies.

Links with business and industry

Heriot-Watt boasts extensive links with business and industry. We are known for our excellent industrial placements and companies often approach us directly seeking students for work placements or employment.

Careers support

The University’s award winning Careers Advisory Service provides one of the most extensive and comprehensive careers education and professional development programmes of any higher education institution in the UK.
Careers service staff are available throughout your studies, ensuring you have the skills you need to successfully market yourself to future employers.

We also host a range of careers fairs, skills development workshops and employer presentations to guide you towards your successful future.

PSW Opportunity

2 Years PSW is applicable after the course completing (Bachelors level or above).

Admission Requirement / Eligibility Criteria

FOR INDIA

For most of our Masters level programmes we require a good first degree in a relevant subject. From most Indian Universities, this means an overall score of 55% or above.
We will consider students whose grades are slightly lower than this (52% or above) Universities of Delhi/ Mumbai/ Calcutta/ Madras/ Pune/ Bangalore/ Rajasthan and this will depend on other factors, such as any relevant work experience, the quality of the references you can provide etc.

FOR PAKISTAN

A four-year bachelors degree in a relevant subject from an HEC recognised institution in Pakistan with 60% or above, will be considered.

FOR NEPAL

Students holding a bachelors degree of minimum four years duration in a relevant subject would be eligible for Masters level study.

FOR BANGLADESH

Students with a masters degree following a 3 or 4 year bachelors degree, are eligible to apply. Previous study should be in a relevant subject area and a score of 60% or above is required.

FOR SRI LANKA

A Bachelors special degree in a relevant subject with 60% or higher.

For More Information Please Contact to Our Counselor.

Heriot Watt University

Edinburgh , Scotland ,United Kingdom