Arizona State University’s actuarial science program is now recognized by the Society of Actuaries as a Center of Actuarial Excellence (CAE).
There are currently 242 actuarial science programs across the nation, only 22 of which are recognized as centers of excellence, and ASU is the only one in the state to earn this title.
“While obtaining the CAE designation has always been our goal, our primary focus over the years has been to graduate students who are highly desired by the industry,” said Jelena Milovanovic, professor of practice and actuarial science program coordinator. “It just so happens that our focus finally aligned with the CAE's criteria a decade after the commencement of the program.”
“Being named a Center of Actuarial Excellence is a major milestone for the ASU actuarial science community and reflects the dedication and passion of our faculty, students, alumni and advisory board,” School Director and Foundation Professor Donatella Danielli said. “It confirms we are leaders in actuarial education excellence.”
Established in 2014, the university’s actuarial science program has been evolving ever since. The School of Mathematical and Statistical Sciences offers a four-year Bachelor of Science in actuarial science and a two-year master’s degree, which is also offered as an accelerated degree, allowing students to obtain both a bachelor's and master's degree in as little as five years. The program has enjoyed consistent support and commitment from the university, as well as the Actuarial Science Advisory Board, which is made up of industry professionals who share their expertise to make the program even stronger.
Students in the actuarial science program combine tools from mathematics, statistics and finance to measure the impact of risk, resulting in improved forecasting and decision-making. The degree's core classes prepare students to pass the extremely difficult professional actuarial credentialing exams required to become an actuary.
The actuarial science program has a strong partnership with the local insurance industry, leading to many internship and scholarship opportunities for students. The school also supports an active chapter of the Gamma Iota Sigma student organization, which provides many opportunities for students to hear from actuaries at varying levels from both local and national actuarial firms. At club meetings, actuarial professionals share information about their respective companies and provide helpful employment advice.
“I am proud Arizona State University has been named a Center of Actuarial Excellence,” said Ferran Garcia-Pichel, interim dean of natural sciences for The College of Liberal Arts and Sciences. “This recognition reflects the high caliber of our actuarial science program, and I congratulate everyone involved in this tremendous effort.”
The CAE review committee was pleased to see the impressive community of students, faculty and local employers and alumni at ASU all working together to provide outstanding education and training for students and career-ready employees for the local industry. They were impressed with the high job placement numbers and exam passing rates of the students, and inspired by the Actuarial Research Lab and the valuable experience students obtain alongside faculty research mentors.
“CAE is the most prestigious designation an actuarial science program can obtain globally. As such, graduates from CAE schools do stand out to prospective employers, so I suspect there will be an increased demand for ASU graduates at a national level,” Milovanovic said.
“It provides strong motivation for the progression of our program as we develop more innovative ways to serve the actuarial community in Arizona and the West,” Danielli said.
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