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Description and characteristics

A Master’s Degree in Actuarial and Financial Sciences, accredited for professional exercise in Spain and Europe, has a predominantly specialized, scientific and professional focus and is aimed at developing specific activities within the exclusive sphere of the Actuary.

An Actuary is a professional expert in the financial assessment of real life situations of individuals and companies that might result in damages and losses or simply to undesirable results or uncertainties. These being RISK situations.

The programme is particularly geared towards students who have completed higher education courses in Finance and Insurance. This, by way of example, applying to graduates in Economy, Business Administration and Management or Business Studies as well as those holding degrees in Economic and Business Sciences. The master’s degree is similarly designed to suit holders of equivalent or potentially new degrees in Business Administration and Management, Economy, Finance and Insurance, Finance and Accounts, etc.

Students with a solid background in mathematical and/or statistical techniques will also be considered as these subjects have a strong presence in the masters programme. This would be the case of graduates in Statistics, Mathematics or Physics.

While without wishing to restrict the possibilities of access to just one or several types of degree, it is recommended that the graduate have quantitative and/or economic training, as the educational objective of the master’s degree is to provide qualification in correct risk assessment and management and the students should, subsequently, have an interest in both the financial aspects as a whole as well as the mathematical and statistical techniques that allow the processing of these factors.

Career opportunities exist in the private sector with financial and investment companies, insurance companies and consultants and within the financial and risk management departments of all types of company. An actuary may choose to work freelance or, alternatively, seek employment within the civil service with any state or regional body, there being specific openings of this nature in departments such as Social Security departments, Insurance and Pension Fund departments, the Bank of Spain and the Spanish Securities Market Commission, officially the Comisión Nacional del Mercado de Valores or CNMV.

 
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