Tanaka Business School's MSc in Actuarial Finance creates a new breed of Actuaries

This autumn, Tanaka Business School launched its brand new MSc in Actuarial Finance.

The MSc is radically different from other actuarial programs because it provides students with a comprehensive background in business finance.  As David McCarthy, programme director, says: "Our guiding philosophy is that actuarial students should not only receive training in key actuarial skills, but also the best education available in those areas of economics and finance which are essential to the way they support UK businesses, and particularly UK pensions, which are key to everyone."

This philosophy has proved extremely successful. The programme started in October with 28 students from the leading consultancy firms, including Hewitt (who sponsor 50% of this initial cohort), Watson Wyatt, Mercer, and Aon.  Lisa Purdy, a current student of the MSc in Actuarial Finance who works for Aon, explains: "I was attracted to the programme because it offered me the possibility to broaden my skill set, especially in finance, which I believe will be very useful to me in my career".

Jim Tindale, Head of Pensions Actuarial Services for Hewitt, says: "The MSc is a breath of fresh air in actuarial training.  The breadth and depth of the course will be a great benefit for our trainee consultants, and in due course our clients - UK businesses and pensions' scheme trustees. Trainee consultants have jumped at the chance to be in at the start and they see the style of learning to be a massive improvement on the traditional alternative of reading alone.  I've not spoken to all fourteen since the course started, but all those I have caught up with think it's the best learning they've ever experienced."

David McCarthy, programme director, is delighted with the new cohort, pointing out that "out of the 28 students, 50% graduated with a first from their primary degree and nine of the students have graduated from Britain's top universities." He adds that although the programme is attracting students because of the potential to reduce the time it takes to complete the required actuarial exams, many value the clear learning focus and are excited by the possibility of bringing new skill sets into the profession. He says that "actuarial students today are mindful of some negative press that the profession has received in the past about understanding business finance. With this new programme, students will graduate with a solid understanding of financial business issues, as well as the capacity for communicating with finance directors and financial experts working in different sectors to them. As the worlds of insurance and pensions become increasingly integrated with the capital markets, we believe that the skills we are teaching our students today will become essential parts of the actuarial toolkit tomorrow."

For more information please contact:
Eoin Bedford
Press and PR Manager
Imperial College London
Tanaka Business School
South Kensington campus
London SW7 2AZ
Email: e.bedford@imperial.ac.uk
Telephone: +44 (0) 207 594 9154

Notes to editors

About Imperial College and Tanaka Business School
Consistently rated in the top three UK university institutions, Imperial College London is a world leading science-based university whose reputation for excellence in teaching and research attracts students (11,000) and staff (6,000) of the highest international quality. Innovative research at the College explores the interface between science, medicine, engineering and management and delivers practical solutions that enhance the quality of life and the environment - underpinned by a dynamic enterprise culture. Website: www.imperial.ac.uk
Imperial College's Tanaka Business School is a world-class provider of business education and research, focusing primarily on Imperial strengths in innovation and entrepreneurship, finance and healthcare management. The School offers full-time and executive MBAs, Master's programmes in Finance, Risk Management, International Health Management, Actuarial Finance and Management; and a Doctoral programme. Website: www.imperial.ac.uk/tanaka