Bachelor of Science in Actuarial Science
The life of nearly everyone is impacted by the work of actuarial experts. Actuarial experts apply mathematical models to improve financial decision-making by evaluating the financial implications of uncertain future events. See the Actuarial Science’s website: https://sse.aucegypt.edu/programs/undergraduate/actuarial-science for a more detailed description of the work of actuarial experts. The number of certified actuarial experts in Egypt is notoriously low, whereas the demand for actuarial experts is very high. One objective of the program leading to the Bachelor of Science degree is to reduce the huge gap between supply and demand for actuarial experts in Egypt.
To be able to solve the problems of evaluating and measuring risk, an actuarial expert has to be trained in the disciplines of mathematics, probability, statistics, economics, finance, data science, and accounting. Consequently, the Actuarial Science Program cuts across the School of Sciences and Engineering and the School of Business.
What a major in Actuarial Science offers:
To summarize, there are many reasons why a student might choose to pursue the B.Sc. program in Actuarial Science. The program prepares students for:
- Many positions within Egypt, where the demand for actuarial experts in insurance and reinsurance companies, actuarial consulting firms, banks, and other financial institutions, as well as government agencies like the Egyptian Financial Supervisory Authority (EFSA), and the Ministry of Finance greatly exceed their supply.
- A wide variety of jobs in Egypt, in multi-national companies, and international institutions abroad, where training in mathematics, probability, statistics, economics, finance, data science, and accounting, are essential.
- Completing the certification examinations offered by the Society of Actuaries (SOA), an important step toward actuarial certification and toward obtaining the actuarial license from the Egyptian Financial Supervisory Authority (EFSA).
A total of 130 credits is required for the bachelor’s degree in actuarial science. Students may be exempted from the
requirement based on high school certificate and score in mathematics or by passing a placement examination.
The undergraduate actuarial science program is accredited by the Applied and Natural Science Accreditation Commission of ABET. The program is accredited by the Supreme Council of Universities in Egypt.