Risk & actuarial studies

Help businesses, governments, not-for-profits, and individuals make critical future decisions.
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What is actuarial studies?

Actuaries evaluate risk and opportunity. We apply a combination of financial, economic, and data science approaches to solve a wide range of business and societal problems. With a mastery of data, risk and complex mathematical models, the actuarial profession is at the forefront of innovation in the fast-evolving landscape of data science and analytics. The ability to harvest insights from data, combined with commercial acumen and deep-rooted professional integrity, empowers actuaries to help organisations, governments, and communities achieve maximum impact from data, opens in a new window, develop solutions that drive positive change, and use data for good, opens in a new window.

Why study risk & actuarial studies? 

In a world where data drives decisions and risk shapes outcomes, there's a pressing need for professionals who can navigate the challenges and opportunities of uncertainty, and pioneer new paths with big and complex data. This is where Actuarial Studies shines as a degree choice.

Actuarial Studies isn't just about numbers; it's about understanding the world through a unique lens. By combining mathematics, statistics, data analytics, accounting, economics, and finance, it provides you with the tools to evaluate and manage risks and opportunities that modern businesses face. Whether it's extracting actionable insights from data, predicting future events, pricing products, or developing strategies to tackle tomorrow's challenges, actuaries are the backbone of informed decision-making.

As businesses and industries evolve, so does the scope and relevance of Actuarial Studies. No longer limited to insurance and financial services, actuaries play a key role across sectors such as technology, healthcare, the environment, and cutting-edge fields like data analytics and artificial intelligence. With this study, you'll be equipped to effectively harness big data, navigate emerging markets, and anticipate future trends.

Actuarial Studies goes far beyond technical expertise, cultivating a mindset that seamlessly blends analytical depth with ethical integrity. As an actuary, you're primed to use data for the greater good, championing positive change and ensuring businesses not only succeed, but also uphold their societal responsibilities. At its core, choosing Actuarial Studies means stepping into a future where your skills are both sought-after and celebrated. This is your chance to be at the cutting edge of a profession that profoundly shapes industries and touches lives. For those ignited by curiosity, challenge, and a passion to effect change, Actuarial Studies paves the way to a vibrant and impactful career.

Why choose UNSW?

UNSW Business School is ranked #1 worldwide in risk management, insurance, and actuarial research.* The School of Risk & Actuarial Studies at UNSW is recognised as a global leader for offering innovative actuarial programs, combining actuarial science, data analytics and computer science, including artificial inteligence. Join the highest-achieving alumni and learn from world-leading academic staff and industry leaders.

At UNSW, you'll find a diverse and flexible actuarial curriculum, preparing you for the challenges and opportunities in an increasingly data-driven world. Emphasising real-world application, our actuarial program systematically embeds industry components through collaborative projects and learning activities, ensuring you gain practical, work-based experiences. Want to see how real-world industry challenges come alive in our courses? Check out these highlighted examples:

Beyond core actuarial courses, you can explore offerings across multiple faculties, enhancing your knowledge with subjects ranging from Finance to Climate Science. Our comprehensive approach, combined with skill development and international exchange opportunities, ensures you're industry-ready and a sought-after graduate.

Studying at UNSW also means that you can gain global actuarial accreditations. To become a practicing actuary in Australia you can gain actuarial accreditation exemptions from the Foundation Program of the Actuaries Institute (Australia) professional examinations and the Validation by Educational Experience (VEE) credit for the Society for Actuaries (USA) and Casualty Actuarial Society (USA) by achieving the required academic standard in the professionally accredited courses in your UNSW actuarial studies programs. Similarly, some students (especially Actuarial Studies (Co-op) students and dual degree students) may also be eligible to gain exemption from the university accreditation components of the Actuary Program of the Actuaries Institute professional examinations. Students who wish to complete their studies with the Institute and Faculty of Actuaries (UK) or the Society of Actuaries (USA) may be eligible to receive credit for subjects they have credit with the Actuaries Institute.

*UNL Global Research Rankings of Actuarial Science, 2023

Your career opportunities

You may be wondering "what jobs can I get with an actuarial studies degree?". Studying actuarial studies opens a wide range of career opportunities, not just within the financial services sector, but far beyond. Imagine yourself shaping the future of life, general, and health insurance or influencing the dynamics of superannuation, funds management, and banking. Picture stepping into key roles across diverse businesses and organisations. From insurance giants and cutting-edge consulting firms specialising in actuarial and data science, to leading banks, superannuation funds, and government bodies – it's all within your reach.

But the horizon doesn't end there. With your unique combination of quantitative skills and business acumen, you'll find yourself in high demand in areas like retail analytics and broader data science roles. Beyond just complex mathematical models, your mastery of data, ability to harvest its insights, and commercial mindset will set you apart. You could be the expert that organisations turn to when they need to extract actionable insights from vast and complex data sets, predict future trends, and make informed decisions. In a rapidly evolving, data-driven world marked by the rise of machine learning, artificial intelligence, and automated decision-making, your actuarial expertise empowers organisations to achieve maximum impact from data, develop solutions that drive positive change, and use data for the greater good.

Career options include:

  • Actuarial analyst
  • Actuarial consultant
  • Asset management analyst
  • Credit analyst
  • Data analyst
  • Data science actuary
  • Financial analyst
  • Insurance analyst
  • Quantitative analyst
  • Risk officer
  • Statistical research analyst
  • Superannuation advisor
  • Wealth management analyst

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What our graduates say

"Being able to model and analyse data is such a diverse tool and these skills can be transferred from predicting customer behaviour all the way to modelling the movement of participants in a welfare system.” 

 Alisa Zheng, Actuarial Consultant, PwC Australia 

Frequently asked questions