UCD Actuarial & Financial Studies
“One of the most important aspects of the degree was the six-month work placement during third year. It provided excellent exposure to the working environment and gave a taste of what it is like to work as an actuary. Another advantage is the small class size. The class is a tight-knit group and this is important during the degree and in the work environment afterwards. I now work in Regulation and my role involves reviewing reports on insurers’ pricing, reserving and risk management processes. The work can be challenging and actuaries are constantly updating their knowledge and skills to adapt to the changing environment with the introduction of new regulations and greater emphasis on risk management after the financial crisis in 2008.”
Marie Bradley FSAI, Actuary at Central Bank of Ireland
Actuarial &
Financial Studies CAO Code DN230
Why is this course for me? If you enjoy studying Higher Level Mathematics for the Leaving Certificate or at A-Level and you have strong analytical and problem-solving skills, the UCD BAFS (Hons) degree could be for you. It will prepare you for a professional career in the actuarial or financial professions, but it has also been designed to be broader and more diverse than most traditional courses in actuarial science.
It takes a combination of strong analytical skills, business knowledge and understanding of human behaviour to design and manage programmes that control risk and guarantee sufficient funds for the insurance and pension sectors. For example, the actuary works out the risk (e.g. the likelihood of a fire happening) and calculates how much the customer should pay for insurance cover to ensure that the insurance company has sufficient funds to pay out if the incident occurs.
What will I study? This is a sample pathway for a degree in Actuarial & Financial Studies. Subjects include accountancy, finance, mathematics, information management and statistics.
First Year Mathematics ¬ Economics ¬ Statistics ¬ Accounting ¬ Computer Science ¬ Elective modules
Second Year Actuarial & Financial Studies ¬ Elective modules
Third Year Actuarial & Financial Studies includes a six- month supervised professional placement in insurance and financial institutions in Ireland, the UK or the USA
Other courses of interest Commerce
Economics & Finance Mathematical Science
�82 �86
�134
Fourth Year Actuarial & Financial Studies
The Actuarial & Financial Studies course is full time and includes a mixture of lectures, tutorials and practical assignments.
Assessment for each module will vary and may comprise a written exam, multiple- choice questionnaires and continuous assessment activities.
Career & Graduate Study Opportunities Most BAFS graduates take positions as actuarial trainees in the following:
– Life insurance – Pensions – Health insurance – General insurance
Should you achieve a sufficiently high standard in the degree, you’ll gain some (or all) exemptions from the Core Technical series examinations (CT1:8) as well as the Core Applications CA1 examination of the Institute and Faculty of Actuaries.
Some graduates also work in banking or finance as business or financial analysts. As a graduate of the BAFS degree, you’re also eligible to pursue graduate study in statistics, computer science, economics, mathematics, management science, finance and other specialist business subjects.
CAO Points Range 2014 560 — 625 Length of Course 4 Years Places 45
Entry Requirements English ¬ Irish ¬ Mathematics (Min HB1 in LC or equivalent) ¬ Three other recognised subjects
Leaving Certificate Passes in six subjects including those shown above, of which two must be minimum HC3
A-Level/GCSE See
www.ucd.ie/myucd/alevel
Other EU Applicants see
www.ucd.ie/myucd/eu
Non-EU Applicants see
www.ucd.ie/myucd/noneu
Level 5/6 FETAC Entry Routes None
Level 6/7 Progression Routes None
Mature Entry Route Yes, see page 182
BAFS (Hons) (NFQ Level 8)
Dr Shane Whelan UCD School of Mathematics & Statistics Belfield, Dublin 4
shane.whelan@ucd.ie +353 1 716 2583
facebook.com/UCDScience
www.ucd.ie/myucd/ actuarialandfinancialstudies
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