Macquarie's new Master of Actuarial Practice degree is designed as a conversion course and provides a path into a job-rich, well-paid profession. It accepts candidates from a range of disciplines. 
Lecturer Tim Kyng says: "It is based on our undergrad program but they get through it more quickly - and much more quickly than the traditional route, which for most graduates was to enrol in a distance course with the London Institute of Actuaries."
Kyng says career changes among this semester's first intake include teachers, economists, computer programmers, physicists, engineers and business graduates.*
*Sun-Herald 2007 Postgraduate Education, 22 April p6, Amy de Lore.
The Actuarial Qualification is a financial qualification. Actuaries are Insurance and Financial Mathematicians. Actuaries work in the financial services and related industries. This includes Life Insurance, General Insurance, Re-Insurance, Superannuation / Pension Fund Management / Financial Planning, Funds Management, Investment Portfolio Management, Banking, Investment Banking, Dealing in Financial Securities, Management Consulting etc
Actuaries are involved in the mathematical modeling of complex financial contracts and arrangements, particularly those that involve risk and that are long term in nature. They are also involved in the financial management and control of insurance and related entitites, measuring the profit and financial condition (assets and liabilities) of such entities.
The types of careers our graduates can go into include:
> General Insurance: pricing and reserving actuaries are involved in the mathematical / statistical modeling of general insurance contracts and insurance liabilities. Measurement of economic loss in compensation cases. Measurement of asbestos liabilities;
> Life Insurance: pricing and reserving actuaries are involved in the mathematical / statistical modeling of life insurance contracts and insurance liabilities;
> Superannuation / Financial Planning: Mathematical / Financial Modelling of superannuation benefits and contributions.
> Banking / Investment Banking / Investment: Mathematical / Financial Modelling of complex financial arrangements and contracts:
Lecturer Tim Kyng says: "It is based on our undergrad program but they get through it more quickly - and much more quickly than the traditional route, which for most graduates was to enrol in a distance course with the London Institute of Actuaries."Kyng says career changes among this semester's first intake include teachers, economists, computer programmers, physicists, engineers and business graduates.*
*Sun-Herald 2007 Postgraduate Education, 22 April p6, Amy de Lore.
Career prospects for graduates
The Actuarial Qualification is a financial qualification. Actuaries are Insurance and Financial Mathematicians. Actuaries work in the financial services and related industries. This includes Life Insurance, General Insurance, Re-Insurance, Superannuation / Pension Fund Management / Financial Planning, Funds Management, Investment Portfolio Management, Banking, Investment Banking, Dealing in Financial Securities, Management Consulting etc
Actuaries are involved in the mathematical modeling of complex financial contracts and arrangements, particularly those that involve risk and that are long term in nature. They are also involved in the financial management and control of insurance and related entitites, measuring the profit and financial condition (assets and liabilities) of such entities.
The types of careers our graduates can go into include:
> General Insurance: pricing and reserving actuaries are involved in the mathematical / statistical modeling of general insurance contracts and insurance liabilities. Measurement of economic loss in compensation cases. Measurement of asbestos liabilities;
> Life Insurance: pricing and reserving actuaries are involved in the mathematical / statistical modeling of life insurance contracts and insurance liabilities;
> Superannuation / Financial Planning: Mathematical / Financial Modelling of superannuation benefits and contributions.
> Banking / Investment Banking / Investment: Mathematical / Financial Modelling of complex financial arrangements and contracts:
- financing of the Sydney Harbour tunnel and other Infrastructure / project finance transactions,
- valuation of executive share option schemes,
- valuation of contingent liabilities such as wills and life interests in real estate, valuation of superannuation entitlements,
- valuation of economic loss suffered by a person from an accident
Contact: Skaidy Gulbis
Phone: 9850 4774
