Overview

The Actuarial Science (BMath) program at the University of Waterloo is designed to equip students with the mathematical, statistical, and financial skills necessary for a career in actuarial science. The program's objectives include providing a strong foundation in probability, statistics, financial mathematics, and risk management, while preparing students to pass professional actuarial exams. Unique features include the mandatory co-operative education (co-op) component, which integrates up to two years of paid work experience with leading employers in insurance, finance, and consulting sectors. This hands-on approach, combined with exemptions from several Society of Actuaries exams, sets the program apart.

Career Prospects

Graduates are highly sought after in the actuarial field, with opportunities in insurance companies, pension funds, consulting firms, and government agencies. The program's co-op experience often leads to full-time job offers, and alumni frequently achieve professional designations such as Fellow of the Society of Actuaries (FSA). Career paths emphasize roles involving risk assessment, financial modeling, and predictive analytics, with strong earning potential from entry-level positions.

Key Faculty/Staff

The program is delivered by the Department of Statistics and Actuarial Science within the Faculty of Mathematics. Notable faculty include experts in stochastic processes and financial risk, such as those leading research in longevity risk and machine learning applications in insurance, though specific course instructors vary by term.

Unique Facilities and Partnerships

Students benefit from the Centre for Education in Mathematics and Computing (CEMC), which supports advanced mathematical training, and the co-op program's partnerships with over 7,000 employers, including major firms like Intact Insurance, Manulife, and Deloitte. The university's proximity to Toronto's financial district facilitates industry connections and internships.