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If you want to start your career with a year's work experience in hand, then you should consider this course. It combines the rigorous studies of the BSc (Hons) Actuarial Science with a year-long work placement in level 4. Good performance means exemptions from professional examinations (CT1 - CT8) as well as 12 months' experience of working in an organisation such as a life insurance company, a pension consultancy, an investment management firm or a bank. The Diploma in Industrial Training is gained through successful completion of this work placement. The work placement helps you to develop specific work-related skills, giving you the opportunity to apply and build upon the theory you learn in your studies. It allows you to take on real responsibilities, enhance your interpersonal skills through teamwork and communication and experience workplace culture.
The Diploma is available to all students, including those from overseas, as it does not require a work visa. If you are planning to come to the UK using a student visa you should check the Tier 4 Student Visa Policy Guidance to confirm you are permitted to undertake a work placement as part of your studies. It is your responsibility to find a suitable work placement; acceptance onto the course does not guarantee you a placement. If you are registered on the course and are unable to find a suitable work placement before the end of level 3 then you can transfer to the standard BSc (Hons) Actuarial Science degree.
Teaching excellence and student satisfaction
93% of our 2017 graduates reported in the National Student Survey that they were satisfied overall with their course.
Accredited by the Institute and Faculty of Actuaries for the purpose of exemption from some professional examinations.
Graduates who go on to qualify as actuaries with the Society of Actuaries in North America can get credit from some of the SOA examinations on the basis of exemptions from the IfoA examinations.
Center of Actuarial Excellence
Heriot-Watt University is recognised as a Center of Actuarial Excellence by the Society of Actuaries (SOA), North America. We are the only Center of Actuarial Excellence in Europe and one of only 30 other schools worldwide with this designation. With roots dating back to 1889, the Society of Actuaries (SOA) is the world's largest actuarial professional organization with more than 28,000 actuaries as members.
PwC Actuarial Flying Start course
The opportunity of a lifetime! The PwC Actuarial Flying Start course currently offers, uniquely to Heriot-Watt University's Actuarial Science students, two six-month, paid, PwC work placements during Years Three and Five. It's the perfect way to gain valuable industry experience during university. Actuarial Science students at Heriot-Watt University currently have the opportunity to apply for this course in Year Two. Successful applicants join PwC's actuarial team in London and work directly with their clients - helping them plan for uncertainty as well as identifying, quantifying and managing their risks. They are known for the outstanding training they provide to graduates and successful students could also get a job offer for when they graduate.
(Note, information accurate at time of publication; Heriot-Watt University's contract with PwC is reviewable).
Course contentDetailed course guide
Introduction to Statistical Science; Calculus; Introduction to University Mathematics; Professional Development Planning; Finance; Economics and practical work.
Probability and Statistics; Actuarial and Financial Mathematics; Linear Algebra; Real Analysis; Multivariate Calculus; Numerical Analysis and practical work.
Financial Mathematics; Survival Models; Portfolio Theory; Life Insurance Mathematics; Statistical Models; Stochastic Processes and a project.
12 month work placement.
Risk Theory; Risk Management; Pension Funds; Life Office Practice; Financial Economics; Time Series; Bayesian Inference and other statistical topics.
More in-depth information on the content of the courses listed above, how they are assessed and the learning outcomes can be accessed via our current student portal.