Actuaries assess, evaluate and manage the financial risks faced by individuals, organisations and governments to plan effectively for the future. The risks assessed by actuaries can include illness, disability and death, the effects of natural disasters, and major economic or social change. A major in Actuarial Studies will give you a firm grounding in the traditional actuarial skill set of mathematics, statistics, demography, finance and economics. This background, coupled with strong analytical skills, sees actuaries serving as financial advisers to a range of organisations including insurance companies, banks and other financial institutions, superannuation funds and governments. Actuaries tackle many types of problems, most of which involve uncertainty about the future. ACTUARIAL STUDIES AT MELBOURNE Develop specialist expertise and knowledge in an area that will fasttrack your high-earning career in the financial sector Gain expertise in core study areas: financial mathematics, life insurance mathematics and actuarial statistics. PROFESSIONAL RECOGNITION Melbourne is one of only six institutions in Australia that has full accreditation from the Actuaries Institute. The Faculty of Business and Economics is designated as a Center of Actuarial Excellence by the US Society of Actuaries. If you choose to major in actuarial studies, you will have a firm grounding in the traditional actuarial skill set of mathematics, statistics, demography, finance and economics. Specifically, you’ll learn from subjects covering actuarial techniques and life insurance modelling, through to the mathematics of finance and insurance risk models. If you want accreditation as an actuary, you will need to have completed certain subjects in the Bachelor of Commerce, such as Introductory Financial Accounting and Intermediate Macroeconomics. Your major structure In your first and second year you will complete core subjects that are prerequisites for your major, as well as a non-mathematics breadth subject. Your final year is comprised almost entirely of major subjects, plus your second non-mathematics breadth subject. BREADTH STUDIES Breadth is a unique feature of the Melbourne Model. It gives you the chance to explore subjects outside of commerce, developing new perspectives and learning to collaborate with others who have different strengths and interests — just as you will in your future career. Some of our students use breadth to explore creative interests or topics they have always been curious about. Others used breadth to improve their career prospects by complementing their major with a language, communication skills or business expertise. Career outcomes Actuaries tackle many types of problems, most of which involve uncertainty about the future. Bringing your strong analytical skills, mathematical abilities and science to crystal-ball gazing can lead to a rewarding career as a financial adviser to a range of organisations, including: health insurance companies; banks and other financial institutions; capital and risk management; superannuation funds; and governments. ACTUARIAL SECTORS Banking and finance Capital and risk management Data science Insurance and superannuation Investments and asset management