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U of R’s Actuarial Sciences Program in elite company

Posted: April 14, 2015 6:00 a.m.

Promising career options await these University of Regina Actuarial Science class students in the Department of Mathematics and Statistics.
Promising career options await these University of Regina Actuarial Science class students in the Department of Mathematics and Statistics. Trevor Hopkin – U of R Photography.

The University of Regina’s Mathematics and Statistics Department has once again received national accreditation for its Actuarial Science Program.

The program at the U of R is only one of 10 institutions in Canada that is nationally accredited by the Canadian Institute of Actuaries.

“We are proud to succeed. Proud of what we do” says Larry Miller, Associate Professor in Mathematics and Statistics at the U of R.

The Actuarial Science Program here was started in 2001. But it was in 2010 when the Canadian Institute of Actuaries offered national accreditation. The U of R’s Mathematics and Statistics department immediately took advantage of the opportunity.

“It was a very long and rigorous project with much submitted and on-site review,” says Miller. “The quality of our program was recognized and we were one of the first eight universities at the time to receive accreditation.”

Actuaries use statistics to determine risk and the financial consequences of those risks.

Do the math and you will see that actuaries touch all aspects of our lives, from designing insurance and pension programs to evaluating risk for multi-national corporations.

Specific job duties include evaluating computer piracy risks for companies to determining the impact climate change might have on institutional investment portfolios. On the more glamorous side some actuaries are hired to work for professional sports teams.
 
All this means that the actuary program at the U of R now offers Math grads more career options in Saskatchewan, which hasn’t always been the case.

“There was a need in Saskatchewan because both insurance companies and pension businesses require actuaries to ensure solvency in their operations,” says Miller. “No actuarial training was available in Saskatchewan, so almost all actuaries here came from other provinces and many did not stay here resulting in high turnover and high costs.”

That has changed as a BSc in Actuarial Science from the U of R offers promising career prospects in Saskatchewan. According to statistics from the Federal Government (Service Canada), actuaries will continue to see a “considerable increase in the number of (job) opportunities.”
 
“We want to provide strong mathematics students a career option,” says Miller.  

The Department of Mathematics and Statistics in the Faculty of Science is an active and diverse unit.

For more information on the exciting options available to students please visit here.
 
Student success is a critical part of the University of Regina's Strategic Plan. For example, more than 1,400 students have sought additional career preparation and volunteer experience through the University's signature UR Guarantee program.