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Actuarial Science
About Arcadia’s Actuarial Science Program
Arcadia has a long history of programs in actuarial science: originally, we offered a concentration in actuarial science as part of our mathematics major and since 2013 we have had a major.
In recent years, our program has been cited in several college rankings as one of the top choices for Actuarial Science degrees in Pennsylvania. We are listed among the 35 recommended schools for Actuarial Science degrees in the country (CollegeChoice). Some of the advantages of the program noted are its flexibility, individual attention students are not likely to find in bigger programs, and a heavy emphasis on exam preparation (an 80% pass rate in 2018 based on P and FM exams). In addition, Arcadia's professional staff (FSA with over 25 years of experience as an actuary, Ph.D. in Statistics, Ph.D. in Actuarial Science), an advisory board of local practicing actuaries, and high demand for our graduates by local firms were also cited as distinguishing characteristics of the program.
Society of Actuaries UCAP-Advanced Status
In 2018, SOA (Society of Actuaries) has designated Arcadia as a UCAP-AC program. In order to attain this status, Arcadia showed that we provide course coverage for four SOA preliminary exams and approved courses for all Validation by Educational Experience (VEE) topic areas. The four exams for which we prepare students are:
This designation not only means that we are able to provide an enhanced exam preparation curriculum to prepare you for a successful career as an actuary, but it also means we get extra financial support from the Society that can be used for reimbursement of student exam fees and for purchasing student study materials to help offset some of your costs.
What to Expect
- A flexible program which prepares students for the four exams of the Society of Actuaries and Casualty Actuarial Society, with high exam pass rates (80% in 2018)
- Nurturing and small classroom environment
- Assistance finding internships and preparing for actuarial careers through
- Personalized coaching on resume writing and interview preparation
- ‘Shadow an Actuary’ program
- Actuarial Career Day
- Validation by Educational Experience (VEE) credit for all three courses
- Experienced faculty with both academic and professional credentials
- Continuing support from an external professional Advisory Board of local actuaries
- A diverse range of applied and research capstone projects
- Various undergraduate conference and actuarial club meetings, all 100% funded and sponsored by the department
- Opportunities to study abroad at some of the top universities around the world
- Help with applications for graduate programs
Career Perspectives
Our program has many graduates in local and regional insurance companies, consulting firms, and government agencies including:
Transamerica, Lincoln Financial Group, CareFirst, Penn Mutual Insurance Co, Chubb, LTCG (Long Term Care Group), Prudential Financial, Willis Towers Watson, Social Security Administration, Workers Compensation Bureau, USLI.
'Shadow an Actuary' Program
We have teamed up with several local area actuarial employers to provide shadowing opportunities for our Actuarial Science majors. Students visit employers to learn what actuaries actually do. They will shadow recently hired employees and speak with seasoned actuaries about the actuarial career. This is a unique opportunity for students to experience the work environment and enable them to further explore their choice of career. It is also an excellent opportunity for students to network and create possible future job opportunities. One of the students who recently shadowed received a summer internship offer from the employer where she shadowed.
Actuarial Career Day
For the last three years, we sponsor an Actuarial Career Day for Actuarial Science majors. This is a specialized career fair that allows our students to interview with local area employers on campus. Employers come to our campus specifically to interview candidates for actuarial summer internships and full-time jobs. Nearly 100% of students who have passed at least one exam receive job offers from employers attending the fair. We are proud to offer such wonderful opportunities for our students.
Academic Flexibility
Our primary goal as a department and as a teaching institution is to ensure student success. To this end, it is important to us that a student who decides not to pursue actuarial science as a major or does not want to pursue the exam path, has opportunities to pursue and succeed in other related fields. Academically speaking, we have the full flexibility to provide a variety of possible combinations of double major or minors:
We have had lots of success with students pursuing other statistics and finance related careers as actuarial science majors as well as math majors.
Our Advisory Board
- Stuart Alden, FSA, Senior VP and Actuary, Aon Risk Solutions
- Ralph Donato, Principal Consulting Actuary, Long Term Care Group
- Andrew Martin, FSA, VP Product Management, Penn Mutual Insurance Co.
- Maureen Whitman, FSA, Director and Actuary, Independence Blue Cross
Both Ralph Donato and Andrew Martin are graduates of Arcadia University.
Meet the Faculty
- Dr. Carlos Ortiz, whose publications include several in mathematical finance
- Actuarial Program Director: Irina Pogrebivsky, a Fellow of the Society of Actuaries who worked as an actuary for 25+ year before coming to Arcadia
- Dr. Ned Wolff, a statistician with many years of experience preparing students for actuarial careers
- Dr. Weihong Ni, a PhD in Actuarial Science
- Professor Emeritus Dr. Louis Friedler, a PhD in Mathematics and an Associate of the Society of Actuaries.
