Actuarial Science

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John C. O’Neill, Ph.D., Director

Actuarial Science is an interdisciplinary course of study combining theory and application from both the natural and social sciences. This course of study integrates the theoretical quantitative skills learned primarily in mathematics, applied mathematics and statistics with the traditional business disciplines of economics and finance. It is designed for industrious students who have dual interest in learning rigorous mathematics and applying mathematical concepts in making practical business decisions.

A student who chooses to major in actuarial science will develop (1) a strong mathematical background stemmed in current treatment of classical mathematics, (2) a firm understanding of applied mathematics via statistical analysis, (3) a practical sense of how these mathematics are used in business to solve problems, (4) a fundamental knowledge of economic theory and (5) an understanding of finance theory and the role of finance within the firm.

A major in Actuarial Science will prepare a student for a career in traditional areas such as casualty, life and health insurance as well as other areas such as benefits consulting, pension plan, and asset management. Moreover, completion of the Actuarial Science degree at Siena College will satisfy the Validation for Educational Experience outlined by the Society of Actuaries and Casualty Actuary Society. The course of study should also prepare students with the background necessary to pass Exams 1/P and 2/FM offered by the aforementioned societies. In addition, students will be prepared with significant coverage of topics listed in SOA Exam SRM and CAS Exam MAS-I. All students pursuing the degree should work closely with their academic advisor and/or Actuarial Science Director to choose elective curricula appropriate to their post-graduate plans.

Programs

• Actuarial Science, B.S.

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