Sunway University BSc (Hons) Actuarial Studies is a 3-year degree programme designed to provide a career pathway for prospective students wishing to enter the actuarial profession. The BSc (Hons) Actuarial Studies programme also prepares students for the professional exams leading to qualified actuary status.
The Society of Actuaries (SOA), Casualty Actuarial Society (CAS) and Canadian Institute of Actuaries (CIA) conduct actuarial professional exams leading to professional designation such as FSA (Fellow of Society of Actuaries), CERA (Chartered Enterprise Risk Analyst), FCAS (Fellow of Casualty Actuarial Society) and FCIA (Fellow of Canadian Institute of Actuaries).
Actuaries usually work in companies dealing with life insurance, general insurance, retirement systems, pension plans, health and finance. Actuaries are also employed by commercial banks, brokerages, investment banks and mutual funds companies. Some work in the government agencies such as Bank Negara, others are into risk management and financial consulting services. With emerging new risks, there will be a lot of opportunities for actuaries in the future.
The career of an actuary begins with an actuarial degree. During their undergraduate studies, prospective actuaries study and sit for the actuarial professional exams. Upon graduation and with some professional exams passed, they can start their career as an actuarial assistant. While working, they continue to sit and pass the remaining professional exams, eventually becoming qualified actuaries in their chosen specialisation.
Aspiring actuaries can choose to practise in areas such as Finance or Enterprise Risk Management (ERM), Individual Life and Annuities, Group and Health, Investment, Retirement Benefits, and Casualty & Property Insurance.
Becoming an actuary requires time, patience and a lot of sacrifice. One must be prepared to study hard to pass all the actuarial professional exams even after graduation. Those who can persevere and are prepared to work hard will have a higher chance of success, eventually obtaining professional designation such as FSA (Fellow of Society of Actuaries), CERA (Chartered Enterprise Risk Analyst), FCAS (Fellow of Casualty Actuarial Society) and FCIA (Fellow of Canadian Institute of Actuaries).
Sunway University was one of very few private higher education institutions in Malaysia to be rated "Excellent" in the first ever quality rating system in Malaysia.