Actuarial Science and Risk Management

Actuarial science and risk management combines the rigorous mathematical discipline of actuarial science with a broader understanding of how risk is identified, quantified, and managed across financial organisations. Actuaries are specialists in modelling uncertain future events and their financial consequences, working primarily in insurance and pensions but increasingly across financial services, banking, and other sectors where quantitative risk assessment is central. Risk management extends this by examining how financial institutions design and implement systems for identifying and controlling the risks that arise from market movements, credit events, operational failures, and broader economic conditions.

At Queen's University Belfast this four-year full-time programme has been designed by qualified actuaries to develop both the theoretical foundations and the practical skills needed to pursue a professional actuarial career. You will study probability, statistics, financial mathematics, life insurance mathematics, general insurance, pensions, and the quantitative modelling tools that practitioners use daily. The programme is accredited by the Institute and Faculty of Actuaries, which means you may gain exemptions from up to six of the initial technical professional examinations needed to qualify as an actuary, providing a significant advantage in terms of time and cost on the path to professional qualification.

Graduates typically enter the actuarial profession and work towards full Fellowship of the Institute and Faculty of Actuaries while gaining experience in insurance, pensions, banking, investment management, or consultancy. The risk management component also opens doors to roles in financial risk, treasury, and regulatory compliance. Many graduates also continue to postgraduate study in actuarial science, financial mathematics, or risk management.