Actuarial Science

Actuarial Science is a discipline centered in assessing, pricing and ultimately managing institutional risk which is commonly used in the insurance industry and financial professions. Students who are good at mathematics that desire a professional component to their education are typically interested in this field commonly listed in the Top 10 professions.

The Actuarial Science major at Siena College is a program combining rigorous mathematical study with Economics and Finance. Students who complete the program will have satisfied the Validation by Educational Experience requirements for the Casualty Actuary Society and the Society of Actuaries. The program features:

  • Major coursework designed to prepare students for the first two professional exams.
  • Elective coursework that will partially prepare students for the next three exams.
  • A year-long professional seminar series featuring practicing actuaries demonstrating how principles int he curriculum are utilized in practice.
  • Curriculum designed to prepare students for competitive national internships during the summers after your junior (or even sophomore) year.
  • A dedicated faculty advisor that will help students prepare for exams, be prepared for professional interviews and focus elective study to maximize employability based on the strengths of the individual.

What sets the Actuarial Science program apart from other schools?

​Siena is a liberal arts college and students are encouraged to explore complementary areas to ensure long-range career success. The program also puts emphasis on:

  • Small class sizes.
  • Developing technical communication skills.
  • Flexibility in choosing upper level electives.
  • The ability to study abroad.
  • Preparing students to become part of an active alumni network.

What careers do graduates typically pursue?

​Most of the students in the actuarial science program pursue a career as an actuary. There are four main classes:

  • Casualty Actuary
  • Life Actuary
  • Health Actuary
  • Certified Enterprise Risk Analyst
  • Other career fields recently pursued by graduates in the program include:
  • Portfolio Underwriter
  • Pricing Analyst
  • Financial Analyst
  • Insurance Broker

Two of our recent graduates have opted to go directly into graduate school to obtain a Master's degree or possibly a PhD before entering the workforce.

 

Where are your recent graduates employed and where have they interned?

Our recent graduates have been employed at a number of different national and international companies including:

  • The Hartford
  • MetLife
  • Farm Family Insurance (America National)
  • ISO (Verisk Analytics)
  • Travelers
  • Utica National Insurance Group
  • First Niagara
  • Marsh USA

Many of our graduates have had internships at the companies listed above prior to their full-time employment. However, students have also held internships with other organizations including:

  • Swiss Re
  • Munich Re
  • New York State Insurance Department

Increasingly, many companies offering actuarial internship opportunities are requiring that students pass at least one actuarial science exam. For that reason, students will typically not have an actuarial internship during their freshman year and will normally be encouraged to start looking for available internship opportunities beginning in their sophomore year.

"At Siena I was taught so much more than just the essential math skills that helped me pass the rigorous exams required to become an accredited actuary. I was also taught the communication and interpersonal skills that have helped me convey complex mathematical explanations to my clients' and non-actuaries. It is because of this well-rounded education that I was able to have a successful career as an actuary and ultimately build a business that’s flourished for 30 years." - Ed Holohan '68, Siena's first accredited actuary and current President & Actuary at Penflex, Inc.


Contact

John O'Neill

(518) 783‑2386