Master of Science in Actuarial Sciences - In partnership with Chedid Re

Total Credits
30

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Mission

The Master of Science in Actuarial Sciences is designed to address the growing demand in Lebanon and the Arab region for highly qualified risk specialists. Graduates of this program will be well-prepared to work in key areas such as life and casualty insurance, pension funding and valuation, credit risk assessment, hedging strategies, and portfolio management. Structured to fulfill both academic and professional goals, the program enables students to pursue internationally recognized actuarial credentials offered by leading institutions such as the Society of Actuaries (SOA) and the Institute of Actuaries (FIA), among others. It also offers a strong theoretical foundation, equipping graduates for advanced academic pursuits, including doctoral studies in Actuarial Science or related disciplines.

Program Educational Objectives

The graduates of the program will:

1.Build successful careers in actuarial science and risk management, contributing as leaders or effective team members in complex financial and insurance environments.
2.Attain the foundational and advanced theoretical knowledge required to pursue professional actuarial credentials.
3.Demonstrate ethical and professional responsibility in line with actuarial codes of conduct, serving the needs of stakeholders who rely on their expertise.
4.Pursue advanced academic research or doctoral studies in Actuarial Science or any related field.
5.Apply theoretical concepts to real-world problems through industry-based projects, showcasing critical thinking, collaboration, leadership, and communication skills.

Program Learning Outcomes

1.Equip students with advanced knowledge in actuarial science, enabling them to apply mathematical and statistical techniques to assess and manage risks in various sectors, including insurance, pensions, and finance.
2.Prepare students for professional actuarial examinations, offering courses that align with the syllabi of professional bodies facilitating progress toward professional accreditation.
3.Develop practical skills in data analysis, actuarial and financial modeling, utilizing industry-standard software and programming languages to analyze complex data sets and construct models relevant to actuarial practice.
4.Enhance communication and business acumen, ensuring graduates can effectively convey technical information to both specialist and non-specialist audiences and understand the broader business context of actuarial work.
5.Foster ethical and professional behaviors, instilling a strong sense of professional ethics and an understanding of the societal impacts of actuarial decisions.

Admission Requirements

In addition to the University's graduate admission requirements, students holding a BS in Mathematics or Actuarial Sciences with a cumulative GPA of at least 3.0 (or the equivalent) will be accepted. Those with a cumulative GPA between 2.7 and 2.99 (or the equivalent) will be conditionally accepted. Conditionally accepted students may take up to 6 credits (two 3-credit courses) in their first semester. Conditional acceptance will be removed once the student achieves a minimum grade of “B” in each of these courses.

Students may be admitted with some remedial undergraduate courses in Mathematics or Actuarial Sciences. These students must achieve an average passing grade of 2.7/4.0 (“B-”) in the remedial courses. Note that these supplementary credits do not count toward the 30 credits required for the MS degree.

A maximum of 9 transfer credits from previous graduate work at another accredited institution may be accepted at the discretion of the Faculty Graduate Committee.

Graduation Requirements

To satisfy the requirements for the degree of Master of Science in Actuarial Sciences, the student must complete a total of 30 credits with a cumulative GPA of at least 3.0/4.0 with no more than 2 “Cs.” The minimum passing grade of a graduate course is “C.”

Chedid Re Scholarship Fund for Actuarial Sciences

To qualify for a full or partial Chedid Re Scholarship, applicants must:

1.Be looking to pursue a Master’s degree in Actuarial Sciences at NDU or be currently enrolled in the program.
2.Have a minimum cumulative GPA of 3.6/4.0 on their undergraduate studies.
3.Have exemplary academic and personal track record during their undergraduate studies.
4.Be willing to support Chedid Re in any tactical support through their graduate studies and beyond.
5.Integrate the human capital of Chedid Re throughout their graduate studies and, when job vacancies become available, after graduation.
6.Be willing to sign an undertaking letter in which they pledge to reimburse the full fees paid on their behalf by the scholarship in the event they decide to drop the program for any reason.
7.Be available for an interview.
8.Complete all requirements and graduate in two years.

Students who meet the above criteria may apply for the scholarship by completing the Chedid Re Application Form and emailing it to the Department of Mathematics and Statistics.

Testimonial

"I gained a lot of knowledge in all sub disciplines of Actuarial Sciences in such a short period of time. Faculty members are supportive and considerate, especially during these harsh times. I encourage interested students not to hesitate at all in applying." (Hrair R. Danageuzian - Recipient of the Chedid Re Scholarship)

Courses

Core and Major Requirements (15cr.)

Elective Requirements (6cr.)

6 credits from the following pool of courses:

Internship and Project Requirement (3cr.)

3 ACS 680 Internship and Project

Thesis Requirements (6cr.)

The Faculty of Natural and Applied Sciences has specific regulations and guidelines for master’s thesis courses, including jury selection, oral defense procedures, grading criteria, manuscript submission, and other relevant information. Upon registering for a master’s thesis course, each graduate student will receive detailed information on these regulations and guidelines.

3 ACS 690 Master Thesis I

3 ACS 691 Master Thesis II

GRADUATION REQUIREMENTS

Core and Major Requirements

15 Cr

Elective Requirements

6 Cr

Internship and Project Requirement

3 Cr

Thesis Requirements