Actuarial Science Graduate Certificate Programs

Updated: Oct 29, 2024

Actuarial Science is an applied science used in financial services to calculate risk. These skills are most useful in insurance, but have investment uses as well. It applies mathematics (statistics, mostly) to understand the relative risk of any investment, including retail banking.

As it is a niche skill, students considering a career in financial risk assessment should pursue an online Actuarial Science Graduate Certificate. It is a great qualification for learning specialty skills in finance and taking statistics and math knowledge to advanced levels.

What Are the Online Actuarial Science Graduate Certificate Requirements?

Colleges and universities offering Actuarial Science Graduate Certificates will request qualifying attributes for prospective students. These will vary by school, but tend to include:

A minimum GPA of 3.0. Some may go higher – 3.25 or up to 3.5
A master's degree in a relevant subject such as mathematics or statistics
Official transcripts from all colleges attended, plus evidence of accreditation
Applicants from non-native English-speaking countries must provide proof of proficiency. Acceptable certification standards are PTEA, TOEFL, and IELTS. The college may also accept ELS 112 but not all recognize this
Letters of recommendation: typically two, although some may request three. Academic references are preferred; some may be happy with work references where there is extensive experience
The application fee (non-refundable)
An essay or personal statement explaining why you wish to study this subject at this institution

What Type of Classes Are Included in the Online Actuarial Science Graduate Certificate Curriculum?

Students can often complete their actuarial science grad cert in just a few semesters. Actuarial science graduate certificate programs have several mandatory courses and some optional choices that students may use to tailor to their strengths and interests. These may include:

Applied Probability
Probability Theory
Actuarial Mathematics
Applied Mathematical Statistics
Statistical Theory
Time Series Analysis
Introduction to Economics
Elementary Econometrics
Financial Mathematics
Statistics for Risk Modelling
Investment & Financial Markets
Economic Forecasting
Mathematical Theory of Interest
Actuarial Mathematics for Life Contingencies
Advanced Microeconomic Theory
Advanced Macroeconomic Theory
Data Mining Techniques

Due to the nature of this qualification, you may be asked to pass exams as part of the grade.

What Type of Career Can I Pursue with an Online Actuarial Science Graduate Certificate?

Those with a passion and skill for finance and mathematics can find several doors open to them with an online actuarial science graduate certificate. Career options often include:

Actuary: This is a broad job with applications in investment banking, retail banking, insurance, corporate financing, pensions, and insurance & life assurance.
Actuarial Consultant: Help financial service investors plan their investments and calculate risks. This is an independent role. Use statistics and theory to work out possible outcomes of investment.
Insurance Actuarial Analyst: This is the major destination for most graduates. It calculates risk for premium costs and involves financial planning for the insurance providers.
Insurance Underwriter: These professionals investigate insurance policy applications to determine whether the provider should accept an application.
Investment Analyst: While most look at the risk of certain investments or policies, an investment analyst works for a business or as an independent to examine and advise about investments.
Economist: Work for state or Federal government, or in individual communities advising on the state of an economy. Economists do not necessarily offer investment advice.