Actuaries manage risk and uncertainty and evaluate the likely impact of future events. Heriot-Watt’s Actuarial Science programme is world-famous for its excellence. It contains all the courses that are essential for ensuring a flying start to a career as an actuary whilst at the same time fostering highly transferable mathematical skills.

If you excel at mathematics, enjoy problem solving and are looking for a degree that will prepare you for a rewarding career – both intellectually and financially – Actuarial Science could be the programme for you.

This Bachelor’s degree mirrors the highly successful BSc Actuarial Science degree offered in the UK, which is accredited by the UK Actuarial Profession. It is expected that the programme in Malaysia will also offer exemptions from all Core Technical subjects, CT1 to CT8, for students performing sufficiently well. This can significantly reduce the time taken to qualify as a Fellow of the Institute and Faculty of Actuaries.

Programme content

First Year

• Probability and Statistics A
• Probability and Statistics B
• Linear Algebra
• Finance and Financial Reporting
• Actuarial and Financial Mathematics A
• Actuarial and Financial Mathematics B
• Multivariable Calculus and Real Analysis A
• Multivariable Calculus and Real Analysis B

Second Year

• Life Insurance Mathematics A
• Life Insurance Mathematics B
• Stochastic Processes
• Survival Models
• Derivative Markets and Discrete-time Finance
• Statistical Models A
• Statistical Models B
• Portfolio Theory & Asset Models

Third Year

Students can choose from a range of options such as Time Series Analysis, Risk Theory, Financial Risk Management, Continuous-Time Finance, Bayesian Inference & Computational Methods and Optimisation.

• Heriot-Watt University Malaysia Foundation in Science: ABBC – A in Mathematics, B in Physics, B in Chemistry, C in Academic English/Study Skills
• Heriot-Watt University Malaysia Foundation in Business: ABBC – A in Mathematics, B in Accountancy and Finance, B in Business Management, C in Academic English/Study Skills
• A-Level/STPM: ABB including A in Mathematics
• UEC: 8 points or less including A1 in Mathematics and Advanced Mathematics (5 subjects not less than B grade)
• WACE/SACE: ATAR 90
• SMA 3 (Indonesia): 8
• IB Diploma: 28 points (Minimum 6 in HL Mathematics)
• Diploma with high level of attainment in mathematics recognised by the Malaysian Government
• Any other relevant qualification with high level of attainment in mathematics recognised by the Malaysian Government

Employment prospects are good, with excellent financial rewards. Our students readily find work as trainee actuaries and graduates are also well-equipped for more general careers like accountancy, banking, stockbroking or teaching. What’s more, actuarial skills are appreciated anywhere in the world.