Actuarial and Financial Mathematics University of Pretoria

Overview

Developments in the modern financial industry have led to a rapidly changing financial world. These changes create a growing need for graduates who are thoroughly skilled in the financial models and quantitative techniques that are used in modern actuarial and financial mathematical applications. Throughout their three years of study, students who are enrolled for a BSc (Actuarial and Financial Mathematics) degree can choose between an actuarial or a financial mathematics option for their coursework. 

The Actuarial and Financial Mathematics programme from University of Pretoria is structured to provide the aspiring actuary with the opportunity to comply with the requirements for exemption from the ASSA examinations in the shortest possible time. In order to achieve the maximum exemptions, a follow-up honours degree is recommended. Students who elect not to complete the follow-up course will be well equipped to enter the financial services industry or apply for a host of other postgraduate degree options. For aspiring financial analysts or engineers, the programme provides depth and develops the student’s ability to design and analyse financial products. The analytical techniques that are essential for modelling the stochastic behaviour of financial processes and analysing the resulting effects on investment portfolios are studied.

Career Opportunities

Actuarial and financial mathematics is a popular field, with career opportunities in the business market and at investment institutions such as banks and insurance companies. Mathematical skills are essential in portfolio management and the modelling of financial risk. This programme prepares students for professional careers as actuaries or financial engineers. 

The activities of actuaries or actuarial technicians include long-term capital projects, designing the benefits of medical schemes, pension fund management, the determination of contributions and financial management on a sound long-term basis, the evaluation of investments in shares, property and other transactions, and the determination of the premiums and reserves for insurers’ outstanding claims. Financial engineers can be employed by banks and financial institutions, brokerage firms and investment institutions. The mathematical skills of financial engineers are essential in portfolio and risk management. Activities include asset management (trading in bonds, futures and derivative instruments such as options), designing new financial products and devising strategies to control credit risk.