Welcome to Our Department! - stat.uiowa.edu · ACTS:4280 Life Contingencies II ... Jordan Nolz....
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Transcript of Welcome to Our Department! - stat.uiowa.edu · ACTS:4280 Life Contingencies II ... Jordan Nolz....
MFE, MLC and C will change to IFM, LTAM, STAM and the new exam requirement of SRM and PA will be begin in July!
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Old Pathway
New Pathway
Questions to Ask & The University of Iowa Response
How many students are in the actuarial program?
How many faculty? Do any faculty members hold actuarial credentials (e.g., ASA, FSA, FCAS, FCIA)?
Does your school have an actuarial club? What are its key functions?
On average, how many actuarial exams do your students pass by graduation?
On average, what is your job placement rate? 100% for American citizens.
Does your school hold actuarial career fairs or other on-campus events with actuarial employers? Yes! How many actuarial employers typically attend? (30+ to the fairs and additional 20+ via visits/emails)
On average, how many of your students have at least one internship by graduation? Again, American students we are close to 100%
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Actuarial Science Faculty
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Dr. Ambrose LoAssistant ProfessorFellow, Society of ActuariesChartered Enterprise Risk AnalystPh.D. University of Hong Kong, Hong [email protected]: (319) 335-1915Office: 368 Schaeffer HallResearch Interests:Dependence Structures, Risk Measures, Quantitative Risk ManagementAcademic web page: https://sites.google.com/site/ambroseloyp/
Dr. N.D. Shyamalkumar
Associate ProfessorPhD, Purdue University, [email protected]: (319) 335-1980Office: 208 Schaeffer HallResearch Interests:Actuarial Sciencehttp://www.stat.uiowa.edu/~nshyamal/
Dr. Elias Shiu
ProfessorOffice: 362 Schaeffer HallPhD, California Institute of Technology, 1975Principal Financial Group Professor of Actuarial ScienceResearch Interests:Asset/Liability Management, Mathematical Finance, Risk Theoryhttp://www.stat.uiowa.edu/~eshiu/[email protected] Phone: (319) 335-2580
Dr. Qihe TangProfessorPhD, University of Science and Technology of China, [email protected]: (319) 335-0730Office: 360 Schaeffer HallResearch Interests:Extreme Value Theory in Insurance, Finance and Quantitative Risk Managementhttp://www.stat.uiowa.edu/~qtang/
Dr. Michelle Larson
Instructional FacultyAssociate, Society of ActuariesPhD, University of Iowa, [email protected]: (319) 335-0814Office: 221 Schaeffer Hall
University of Iowa Department of Statistics and Actuarial Science
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The Department of Statistics and Actuarial Science has four interrelated missions by which it serves the University, the state, and the world. These four missions are:
•to provide both undergraduate and graduate students with strong degree programs and excellent instruction in probability, statistics, and actuarial science;•to conduct and publish outstanding research in probability, statistics, and actuarial science;•to promote the solid practice of statistics at the University and beyond; and•to produce leaders in the insurance, pension, and actuarial consulting industry.
Number of Students
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In the forefront of actuarial folklore stands the belief that the actuarial examinations constitute a mystery impenetrable by mortal man. Charles A. Spoerl, Transactions of the Society of Actuaries, Volume 1 (1949)
Terry Lillis, CFO,Principal Financial- Visited Campus this Fall. Great to have former alumni visit with our students!
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2017 Spring Graduates2017 Graduates Majors and Certificate Programs Exams passed Employer
Nathan Howard Benya
Actuarial Science, Business Administration (Minor), Mathematics (Minor), and Risk Management & Insurance (Certificate) P FM MFE MLC
PricewaterhouseCoopers
Kayla Ashley Berkowitz
(H) Actuarial Science, Mathematics, Risk Management & Insurance (Certificate), and Statistics P FM MFE Conduent
Sara Chen***Actuarial Science, Large Data Analysis Certificate, ***Mathematics, and ***Statistics P FM MFE C Nationwide
John Crowley*** (H) Actuarial Science, ***Mathematics, and ***Statistics P FM MFE MLC
Principal Financial Group
Anthony Dagner (H) Actuarial Science and Mathematics P FM MFE MLC Cigna
Haonan Guo Actuarial Science, Mathematics and Statistics P
Michael Hackbarth** (H) Actuarial Science, Risk Management & Insurance (Certificate), and **Mathematics P FM MFE MLC Transamerica
Yuhao Hu Actuarial Science, Mathematics, and Statistics P FM MFE
Christine Hunt
(H) Actuarial Science, Mathematics (Minor), Risk Management & Insurance (Certificate), and Statistics P FM MFE
Principal Financial Group
Yu Tung LeeActuarial Science, Mathematics, and Risk Management & Insurance (Certificate) P FM MFE
Qianping Liu Actuarial Science, Mathematics and Statistics P FM
Damon Mehrl** (H) Actuarial Science, **Mathematics and **Statistics P FM MFE MLC Liberty Mutual
Boya Peng Actuarial Science, Mathematics and Statistics P FM
Trent Stastny-Perez
(H) Actuarial Science, Mathematics, Risk Management & Insurance (Certificate), and Statistics
P FM MFE MLC C
Principal Financial Group
Chen Xie(H) Actuarial Science, Mathematics, and Psychology (Minor) P FM MFE** With High Distinction*** With Highest Distinction(H) Honors in the Major
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2017 Spring Graduates
The Actuarial Science Program prepares students for careers as actuaries. It helps them learn material that is included in professional examinations administered by the Society of Actuaries, which actuarial students must pass in order to achieve professional status. In addition to actuarial science courses, students can take courses in preparation for business aspects of the actuarial profession such as accounting, law, finance, insurance, and economics. The Society of Actuaries (SOA) has recognized University of Iowa’s actuarial science program as a Center of Actuarial Excellence (CAE). There are eight criteria for the designation, including curriculum, faculty composition, graduate quality, connection to industry, and research/scholarship. We are a small department in a large University and graduate between 20-15 undergraduate students each year. We do have SELECTIVE admission due to the difficulty of the professional examinations.
Students interested in becoming actuaries should declare an Interest in Actuarial Science as their major when they ENTER the university. Please note that we are one 18 US schools that are designated as a Center of Actuarial Excellence by the Society of Actuaries.
Required Course for BS Degree in Actuarial Science, Fall 2018
CS:1210 Computer Science I: Fundamentals (4 s.h.)
ECON:1100 Principles of Microeconomics (4 s.h.)
ECON:1200 Principles of Macroeconomics (4 s.h.)
MATH:1850 Calculus I (4 s.h.)
MATH:1860 Calculus II (4 s.h.)
MATH:2700 Introduction to Linear Algebra (4 s.h.)
MATH:2850 Calculus III (4 s.h.)
MATH:3770 Fundamental Properties of Spaces and Functions I (4 s.h.)
STAT:3100 Introduction to Mathematical Statistics I (3 s.h.)
STAT:3101 Introduction to Mathematical Statistics II (3 s.h.)
STAT:4100 Mathematical Statistics I (3 s.h.)
STAT:4101 Mathematical Statistics II (3 s.h.)
ACTS:3080 Mathematics of Finance I (3 s.h.)
ACTS:4130 Quantitative Methods for Actuaries (3 s.h.)
ACTS:4180 Life Contingencies I (3 s.h.)
ACTS:4280 Life Contingencies II (3 s.h.)
ACTS:4380 Mathematics of Finance II (3 s.h.)
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Additional Opportunities for our Graduates!
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• Second Major in Statistics, Mathematics & Others
• Large Data Analysis Certificate
• Risk Management and Insurance Certificate
• Minor in Business Administration
• Graduate with Honors in Actuarial Science
Sample Schedule (required for major)
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Year
Fall Semester Spring Semester
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MATH:1850 Calculus I
CS:1210 Computer Science I: Fundamentals
ECON:1100 Principles of Microeconomics
MATH:1860 Calculus II
MATH:2700 Introduction to Linear Algebra
ECON:1200 Principles of Macroeconomics
2MATH:2850 Calculus III
STAT:3100 Introduction to Mathematical Statistics I (Exam P)
MATH:3770 Fundamental Properties of Spaces and Functions I
STAT:3101 Introduction to Mathematical Statistics II
ACTS:3080 Mathematics of Finance I (Exam FM)
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STAT:4100 Mathematical Statistics I
ACTS:4130 Quantitative Methods for Actuaries
FIN:3300 Corporate Finance
STAT:4101 Mathematical Statistics II
ACTS:4180 Life Contingencies I
ACTS:4380 Mathematics of Finance II
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ACTS:4280 Life Contingencies II
STAT:4540 Statistical Learning
STAT:4560 Statistical for Risk Modeling
ACTS:4380 Mathematics of Finance II (Exam MFE)
ACTS:6580 Credibility and Survival Analysis (Exam C)
UI Courses and Examinations
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SOA Examinations
UI Courses
P Probability STAT:3100, 4100FM Financial Mathematics ACTS:3080IFM Investment & Financial Markets
ACTS:4380, FIN:3300
LTAM Long-Term Actuarial Mathematics
ACTS:4130, 4180, 4280
STAM Short-Term Actuarial Mathematics
STAT:4101, ACTS:6480, 6580
SRM Statistics for Risk Modeling STAT:4540, 4560
VEE UI Courses
Economics ECON:1100, 1200 or ECON:3100, 3150
Accounting & Corporate Finance
ACCT:2100, FIN:3000 or 3300
Mathematical Statistics STAT:3101 or STAT:4101 or 5101
The University of Iowa has the second oldest actuarial science program in the U.S.A. It began with the course “The Mathematical Theory of Insurance,” taught by Dr. Westfall, in academic year 1902/1903. Since 1913, actuarial science courses have been taught every year at UI. Five past presidents of the Society of Actuaries and two past presidents of the Casualty Actuarial Society were UI students.
Distinguished History – Promising Future
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Department of Statistics and Actuarial Science Club
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If you're a student (undergraduate or graduate student) who is majoring in Actuarial Science and/or Actuarial Science Interest you are automatically a member of the Actuarial Science Club! The club has a ICON (Iowa Courses Online) site and a Facebook page (https://www.facebook.com/groups/163654807082416/)
and students are added to our mailing list (that the department sends out) that students share information.
2018 Actuarial Science Club Board
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Activities scheduled for the first month!
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Pathway toMembership
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Risk is Opportunity
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Ordinarily, students…..
Apply for Admission to the Actuarial Science major in the fall semester of their sophomore year, after they have taken:
• Math:2850 Calculus III
• MATH:3770 Fundamental Properties of Spaces and Functions I
• STAT:3100 Introduction to Mathematical Statistics I
Students should apply no later than the end of the spring semester of their junior year.
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2018 Job Fair!Last year 32 companies came to our 2017 Actuarial Science, Insurance and Risk Management Job Fair which was held on October 4th. Over 135 students attended this fair to learn more about the opportunities these fine companies offer. In the days and weeks ahead many will have follow-up interviews seeking internship and job opportunities. We are so appreciative to the wonderful support and organization by our Pomerantz Career Center Team to make this such as successful event! Our 2018 Fair will be held in September.
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2017Internships
Cody Borst Transamerica Cedar Rapids, Iowa
John Brindley Transamerica Cedar Rapids, IA
Erich Byers Lincoln Financial Group Ft Wayne, IN
Michelle Croghan Athene West Des Moines, Iowa
Justin Dickinson Ernst & Young New York, NY
Tony Dagner Cigna Bloomfield, Connecticut
Nicole Gonner Transamerica Cedar Rapids, IA
Leah Klejch Willis Towers Watson Chicago, IL
Felipe Su LiFarm Bureau Financial Services
Des Moines, IA
Jordan Nolz Transamerica Cedar Rapids, Iowa
Max Peterson Transamerica Cedar Rapids
Elle Qi Fidelity Investments Chicago, IL
Jonathan Reinhart Transamerica Cedar Rapids, IA
Jacob Schmitt Principal Des Moines, IA
Mitchell Tamashunas Prudential Newark, NJ
Connor Vandersnick Pacific Life Newport Beach, CA
Sam Werner Principal Des Moines, Iowa
Daniel YanceyFidelity Guaranty and Life
Des Moines Iowa
Jeremy Ziemer Transamerica Cedar Rapids, IA
Morgan Zuidema Athene West Des Moines, IA
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Club Leadership Opportunities!
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One of our students, John Crowley, was invited to share his valuable experience at the University of Iowa! This was his contribution and published in the Society of Actuaries magazine!
Get involved in activities on andoff campus to develop time management skills.
Activities directly related to actuarial science, such as engagement within your school's actuarial science club, areobviously beneficial to you and your resume. You don't have to limit your involvement to strictly professional development organizations though.Any activity that gives you extra responsibilities will challengeyou to prioritize your commitments and to develop strategiesthat will maximize the efficiency of how you use your time.
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Everyone is anindividual.This statement may seem redundant or cliche, but don't dismiss it as trivial quite yet. Think about this advice in terms of how you communicate with the people around you. In daily interactions you most likely alter the way you speak to people according to your relationship with them. For me,this behavior is especiallyprevalent when I send emails. I usea lot more of a formal style when I email professors or recruiters as opposed to the casual emails I send to classmates. The key is to be conscious of how your correspondence will be interpreted by different people. Avoidpigeonholing people together andexpecting them to react the same.Many actuaries grow intoleadership roles, so it is importantfor them to understand themindset of the individuals withwhom they work.
Seek Out Mentor.No one expects entry-levelactuaries to know everythingabout the business in which theywork. Consequently, it is a greatidea to find someone who hastraveled down the path that youintend to follow. By learning about their experiences, you may find answers to questions that you wouldn't have ever thought to ask. Similarly, students just entering the actuarial major could gain a lot of perspective by asking an upperclassman to serve as their mentor. The initial conversation may seem difficultto start, but many people wouldbe happy to share their stories when asked.
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Ask the next question.To demonstrate that you are engaged in a project, ask the question that will arise after you finish the step on which you are currently working. You can show that you comprehend the purpose of thegiven task by questioning the implications of the possibleoutcomes. Answering these questions before they occur allows you to work more efficiently instead of repeatedly stopping after each task. One key to keep in mind is that you should not ask the next question just for the sake of asking the question. Make sure youunderstand the response and take notesif needed to avoid repeating yourself later.
Be able to summarize theimportance of your current projectin three sentences.Especially as an intern or entry-level actuary, this last piece of advice is crucial and, at times, challenging. It is easy to get lost in the details of the task immediately in front of you. By only focusing on your role within the larger project, you limit the amountof knowledge you can gain. You are also less flexible as an employee since you don't learn how your work can be adapted andapplied to similar projects. Asking questions about the importanceof the larger project may not make it easier to finish your currenttask, but it is valuable to your professional development within thecompany.
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Charles E. and Eleanor G. Wilson Scholarship
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This special fund was established with numerous gifts from Charles E. and Eleanore G. Wilson. Charles Wilson (BA, 1941) attended The University of Iowa during the Depression only because of a scholarship. He was an actuary for 45 years. He established this fund because he wanted to give future students the same opportunity he had and to help the actuarial profession. The College of Liberal Arts assists us with the application process. In 2017-18 we are funding 33 students in scholarships ranging from $2,000 to $17,000. Information and applications will be emailed to qualified UI applicants.
Other Scholarships & Awards
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The department will send out information for the Lloyd Knowler Scholarship, Principal Financial Group Foundation Scholarship, Harold W. Schloss Memorial Scholarship, D. W. Simpson & Company Scholarship, Towers Watson Scholarship and the Transamerica Scholarship. Additionally students may receive Taylor Award in Academic Performance.
Actuarial Diversity Scholarship with Society of Actuaries
Curtis E. Huntington Memorial Scholarship
The Actuarial Diversity Scholarship promotes diversity within the profession through an annual scholarship program for Black/African American, Hispanic, Native North American and Pacific Islander students.
The Curtis E. Huntington Memorial Scholarship (formerly The John Culver Wooddy Scholarship) was established to recognize the remarkably positive impact Huntington had on his students and on the actuarial profession. Sponsored by the Actuarial Foundation.
