ENSAE to Become a Strategic Partner of Statistical Modelling and Actuarial Science Master Program
The new master program Statistical Modelling and Actuarial Science is for students interested in mastering modern probability, statistics methodology, and modelling methods in economic processes, as well as mathematics of insurance theory. Core courses will be instructed by the members of the international Laboratory of Stochastic Analysis and its Applications.
These faculty have a long, successful careers teaching and research in universities in France, Germany, UK and USA. In 2014, when the program was conceived Professor Konakov, the academic supervisor of the program, invited the "École Nationale de la Statistique et de l'Administration Économique" (ENSAE) to become the program strategic partner in student exchange programs and dual degree opportunities. ENSAE is a top ranked French institutions of higher learning in the fields of statistics, economics, finance and actuarial science. ENSAE has close links with the Center for Research in Economics and Statistics (CREST), a leading research center in the fields of economics, statistics and finance. Along with "Grandes écoles" ENSAE is a founder member of the Paris Institute of Technology (ParisTech).
Graduates of the program will possess competences that will enable them to excel in leading Western and Russian banks, insurance companies, financial organizations and academia. The program welcomes students who aspire to gain practical expertise in statistics and probability theory applications in economics, insurance, finance and social sector. The program alumni will master quantitative methods of solving economic problems. This will boost their future careers as actuaries in banks and insurance companies as well as researchers in academia.
The two-year curriculum is a unique blend of the core courses in stochastic analysis and the basic actuarial education designed in the traditions of the Institute of Actuaries. Our students will be well-prepared to compete for positions in leading Russian and International banks, insurance companies and other financial organizations, or apply for academic positions at universities.
Many universities have undergraduate and graduate programs in actuarial science. The profession of the actuary is one of the oldest in the financial world and has a very high status. Traditionally, it studies Life Insurance, pensions and healthcare, Property and Casualty Insurance. The challenge the actuaries face nowadays is much greater.
The universities have realized that finance and insurance mathematics should be presented for today's students as one discipline and the actuarial root is the common ground for all financial engineers. For the corporative world the profession of actuary defines the necessary code of conduct for all its members: it ensures the professionalism and control conducted from within. The professional standing of actuary in today's business world is coined in the phrase: "we are all actuaries".