Welcome to Actuarial Interest Group

What is an actuary?

Actuarial profession is ranked as one of the most desirable job in the world in terms of salary and job satisfaction
It is a social mathematician, who can do complex maths, understand very well the business and effectively communicate with senior management. 

Actuaries essentially put a price tag on risk using their skills in probability and statistics, finance and economics, computer science and business. In particular, they gather information from many sources to 

• Evaluate the likelihood and financial impacts of future events (death, sickness, disability, loss of property
• Formulate policies that would minimize the cost of that risk. 

Different from other financial service professions

• From what I understand, if you want to know the financial impact of what has already happened, ask an accountant? If you to know the potential financial impact of future events, ask an actuary!
• Dealing with long dated uncertain cashflow [life insurance 10y, 15y or 100y]

Applications

• Product pricing and asset and liability valuation
• Calculate premium scientifically for life insurance policies
• Calculate reserves (provisions for future liabilities) that an insurance company would need to cover various risks.
• Risk control and management [mortality risk for life insurance]
• Help companies make informed decision, maximize its return on investments in the light of potential risks. 
• Determine economic losses for the court cases

Career path

• Consultancies - offering advice on issues such as acquisitions, mergers and financing capital projects, and also on occupational pension schemes.  
• Investment - involved in research and on the pricing and management of investments, particularly in mitigating the risk of investments, and often using their understanding of insurance or pension liabilities to manage the corresponding assets.
• Insurance - providing a service to companies which need a huge range of numerical information investigated, analysed and explained; for example to create and price polices, or to ensure they have the money to cover claims.
• Pensions - designing and advising on company pension schemes, especially placing a value on accumulated pension commitments.

Some interesting links

UK university students have suddenly discovered that actuarial careers are a good, solid bet

Q&A: The head of Hymans Robertson in Edinburgh explains what it takes to become an actuary

My reflections 

Some people say they choose a job because of money, or being well-known. To me, what I value more than anything, is the recognition of doing a good job. Used to work as a senior actuary at Manulife Vietnam, I have always wanted to do a good job so that people sincerely appreciate for what I can do for them. That is my job satisfaction.

Become a qualified actuary, why not?

This is a good chance Vietnamese students can study Actuarial Sciences and qualified by one of the most prestigious professional organizations, the French Institute of Actuaries who is member of the International Actuarial Association. Note that The Association for the International Diffusion of French Actuarial (DIAF) is a full partner of the collaboration project between IU and ISFA. It aim at supporting the international development of the actuarial profession.

The course will be conducted in Vietnam for 2 years by The HCM International University and in France for 1 year by The University Claude Bernard Lyon 1
Below is a flyer of this program, be hurry!

For further Information, please contact the Program Coordinator, Dr. Patrick Tran at ttphuoc@hcmiu.edu.vn (0903009963)

To receive updated information about this program, please subscribe your email address in the mailing list located in the right corner of this page.


1. Revision class application due:    15/03/2013
2. Revision class:                          01/04-15/05/2013
3. Entrance exam application due:   25/05/2013
4. Entrance exam date:                  01/06/2013
5. Entrance exam results released:  15/06/2013


The interested candidates must send a e-mail as soon as possible at hcmc2012@isfa.fr.
The e-mail should include the following information:
+ First and last names, date of birth, current position (this e-mail will be automatically forwarded to Isfa and International University administration).

Nghành Khoa Học Định Phí Rủi Ro và Tài Chính

• Đăng ký lớp ôn thi:   15/03/2013
• Thời gian lớp ôn thi:  01/04/2013  -  15/05/2013
• Đang ký thi tuyển:    25/05/2013
• Thi tuyển:                01/06/2013

ISFA program in 2014

Our Actuarial Science program in cooperation with ISFA will be recruiting new intakes in March, 2014. For interested students, please register your email address in the mailing list in the top right corner of this website.
Regards

Cool to become an actuary

Firstly, the best job in the world, in many ways:

Secondly, not many people know about it

People admire you!

Studying for exams "could" be fun!

Finally, it is totally, actuaries rock!