In December 2021, the Society of Actuaries (SOA) recognized Notre Dame University-Louaize (NDU) as one of the Universities and Colleges with Actuarial Programs (UCAP) with an Advanced Curriculum (UCAP-AC). The SOA is a global professional organization for actuaries that advances actuaries as leaders in measuring and managing risk to improve financial outcomes for individuals, organizations, and the public.
After reviewing the NDU application for the UCAP-AC submitted by the Department of Mathematics and Statistics, Notre Dame University-Louaize (NDU) has been approved for the following exams: Investment & Financial Markets (IFM), Short-Term Actuarial Mathematics (STAM), Long-Term Actuarial Mathematics (LTAM), Probability (P), and Financial Mathematics (FM). This is in addition to the approval for the coursework for the following Validation by Educational Experience (VEE) topics: Applied Statistics, Corporate Finance and Economics.
NDU students are prepared to complete all the professional exams leading toward either the Associate in the Society of Actuaries, ASA designation, given by the Society of Actuaries or the FIA Designation given by the Institute of Actuaries and will receive the adequate theoretical background to pursue a PhD degree in Actuarial Sciences or any related field.
Dr. Roger Nakad, Chairperson for the Department of Mathematics and Statistics at the Faculty of Natural and Applied Sciences, highlighted that nowadays, with the unpredictability of the current situation, and the continuous fluctuations in the economic and demographic conditions, there is an increasing local and regional need for qualified actuaries. He added, “With the UCAP-AC recognition from the SOA, Students from different relevant backgrounds can benefit from joining the Actuarial undergraduate and graduate programs, which link them directly and indirectly to several actuarial qualifications and job market”.
Being recognized as UCAP-AC holds numerous benefits for both the department of Mathematics and Statistics and the students.
- Reimbursement of fees for three individual student preliminary exam registrations for each academic year.
- Reimbursement for the purchase of study materials for SOA preliminary exams up to 500 USD.
- SOA sponsorship for an approved on-campus event up to 500 USD.
- Reimbursement of travel costs and/or registration fees for student travel to an approved actuarial conference up to 500 USD.
NDU offers a Bachelor of Science (B.S.) degree in Bachelor of Science degree in Actuarial Sciences (94 cr.) a Master Degree in Actuarial Sciences (30 cr.) in partnership with Chedid Re, through scholarships for graduate students. NDU students are prepared to fill the growing demand for qualified risk specialists in Lebanon and the Arab countries that has recently gained a high level of employability and pay scale.