Actuarial professionals with data analysis and fintech specialization have the advantage
Actuarial data analysis and fintech talent today have access to a wide range of opportunities – from positions in hedge funds and investment banks to management companies.
ASIA Pacific University of Technology and Innovation (APU) is set to become one of the first Malaysian universities to offer actuarial science programs with two of the “hottest” specializations in technology – data analysis and financial technology (FinTech).
Fully accredited by the Institute and Faculty of Actuaries (IFoA), UK, the programs run under the APUs School of Mathematics, Actuarial & Quantitative Studies (SoMAQS).
With full IFoA accreditation, APU actuarial graduates who achieve an average of 65 grades or higher are eligible for maximum exemptions from CS1, CS2, CM1, CM2, CB1 and CB2 in the current IFoA curriculum.
APU is recognized by the Society of Actuaries (SOA), USA, where the program prepares students for all six preliminary exams (P, FM, IFM, LTAM, STAM and SRM).
This is in addition to the approved courses for all three VEE courses (Accounting and Finance, Economics and Mathematical Statistics).
APU students will have an advantage compared to actuarial graduates from other universities as they will be equipped with knowledge and skills in data analysis and fintech.
The emergence of data analysis and fintech
The Bachelor of Science (Hons) in actuarial studies specializing in data analysis and the Bachelor of Science (Hons) in actuarial studies specializing in FinTech were updated to keep pace with evolving international standards and best practices.
According to APU’s Vice Chancellor Prof Dr Ho Chin Kuan, the introduction of specialties in Data Analytics and FinTech will give students a head start on the latest technologies that are in line with the fourth industrial revolution. The recent IAP advisory panelists agreed that the two new specialties are crucial for the actuaries of the digital world.
In May 2022, IFoA independent examiners confirmed that using the block exemption method, almost 85% of students from the recent cohort would graduate with maximum exemption in the current IFoA curriculum. Other students will still be exempted using the subject-by-subject exemption method.
“The result of the recent IFoA Accreditation visit is a testimony from APU Actuarial candidates who are ready to take on the challenge of the actuarial world,” said SoMAQS Leader Assoc Prof Dr Rajasegeran Ramasamy.
APU University Lecturer and Actuarial Studies Program Director Ong Li Kee stated that the proposed specializations will bode well for APU’s well-known reputation in Data Analytics and FinTech.
“This program will showcase combined strengths in both disciplines and will expand their career opportunities. In fact, APU students will have an advantage over actuarial graduates from other universities, as they will be equipped with knowledge and skills in Data Analytics and FinTech,” he said. .
Ready for the future
Only 22 years old, Lim Ming Jun, APU alumni class in 2019, currently works as actuary at Hong Leong MSIG Takaful.
“Not only did I get exemption from six IFoA subjects, but I also gained some important skills required in the insurance and finance industry through student activities and interschool competitions.
“And with a fantastic practice experience with Great Eastern Takaful Berhad, I secured an offer before I graduated. I chose the right path,” he said.
Asia Pacific University of Technology and Innovation (APU) custom-built campus with ultra-modern design is strategically located in Technology Park Malaysia (TPM), Kuala Lumpur.
APU has officially achieved a QS 5 Stars Plus university rating in the latest QS Stars University Ratings on November 1, 2021 – and became the first higher education institution in Malaysia to achieve such recognition.
In addition, the APU has been awarded a 5-star rating for online learning in the latest QS Stars Rating System, 5-Star (Excellent Rating) under SETARA ratings by the Ministry of Higher Education and was among the first universities in Malaysia to be awarded the Premier Digital Tech University status of Malaysia Digital Economy Corporation (MDEC) for its commitment to providing first-class digital technology courses.
Actuarial Studies qualifications are double awards by APU and De Montfort University (DMU), UK. Students will receive two-degree certificates and transcripts upon graduation – one from APU (Malaysia) and one from NERI (UK).
For more information about the program, visit www.apu.edu.my.
