Actuarial Studies at the Australian National University

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Actuarial Studies at the Australian National
University

• http//ecocomm.anu.edu.au/actuarial

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Beyond Uncertainty Managing the future better
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Dynamic financial systems with long time horizons
or significant uncertainty
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Areas of Expertise

• Risk management
• Financial modelling
• Finance
• Investment management
• Asset liability matching
• Statistics
• Economics

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Areas of Employment

• Consulting
• Funds Management
• Banking
• Life Insurance
• Investment Banking
• General Insurance
• Superannuation
• Health Financing
• Academic

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Remuneration

• B Act S 45,000 Part I
• B Act S (Hons) 50,000 Part II
• FIAA 100,000
• Senior Actuaries ???

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Becoming an Actuary

• Part I
• Technical skills
• 9 subjects
• All available at ANU
• Part II
• Basic professional framework
• 1 subject
• Available at ANU

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Becoming an Actuary (cont.)

• Part III
• Specialist
• 2 out of 5 subjects
• Only through the IAAust
• Part IV
• Professionalism Course

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Actuarial Studies at ANU

• School of Finance and Applied Statistics in the
  Faculty of Economics Commerce
• Professional actuarial subjects
• Statistics
• Finance
• Economics
• Offering actuarial program since 1988
• Now three actuarially qualified staff on the
  faculty and several visiting actuaries

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Institute Exemptions

• Accredited by
• the Institute of Actuaries of Australia,
• the Institute of Actuaries (London), and
• the Faculty of Actuaries
• Offers exemptions from all Part I and Part II
  subjects

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Graduate Programs

• M Act S (coursework)
• One year full time / Two years part time
• Entry from actuarial degree OR other quantitative
  degree with demonstrated actuarial techniques
  competence
• Grad Cert Actuarial Studies
• Grad Cert Actuarial Techniques
• PhD / Masters by research

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Centre for Actuarial Research

• The Centres aim is to produce academically
  rigorous research in areas of practical relevance
  to actuaries and the various institutions they
  advise.
• The research must meet the highest standards of
  academic rigour
• It must be of practical relevance and provide
  insight into solving actual problems
• These problems will be ones arising out of the
  work of actuaries and out of the strategic and
  operational issues facing the institutions that
  actuaries advise.

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Active Research

• Disability insurance
• Mergers acquisitions of fund managers and life
  insurers
• Retail fund management customer behaviour
• Forecasting market growth rates
• Economies of scale among life insurers
• Applications of extreme value theory and other
  modern statistical methods in insurance
• Corporate governance models and their application
  to the regulation of financial services entities
• The impact of long term demographic dynamics on
  funding for retirement
• The measurement of investment risk

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Why ANU?

• Fully accredited by IAAust
• Ranked in the worlds top 7 universities
• Very strong links with industry
• Leading centre for actuarial research
• Each segment of the program is taught by world
  ranked academics
• ANU Graduates highly sought by employers

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Entry Requirements

• ACT double major in Advanced Mathematics Extended
  or Major/Minor with a very high mark
• UAI
• 2001 86
• 92 (Act S/ Law)

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Undergraduate Programs

• B Act S
• 3 years full time Part I exemptions
• Honours year Part II exemptions
• Combined degrees
• Actuarial Studies / Commerce (4 / 5 years)
• Actuarial Studies / Economics (4 / 5 years)
• Actuarial Studies / Finance (4 / 5 years)
• Actuarial Studies / Law (5 / 6 years)