Finance with Actuarial Science - Bayes Business

Tuition Fee

GBP 24,500

Per year

Start Date

Medium of studying

On campus

Duration

36 months

Program Facts

About Program

About University

Admission Requirements

Program Facts

Program Details

Degree

Bachelors

Major

Actuarial Science | Statistics | Mathematics

Area of study

Mathematics and Statistics

Education type

On campus

Timing

Full time

Course Language

English

Tuition Fee

Average International Tuition Fee

GBP 24,500

Intakes

Program start date	Application deadline
2024-09-01	2024-01-01

About Program

Program Overview

Who is it for?

You are fascinated by the financial world and that complements your love and talent for mathematics, especially modelling and probability. You love solving problems and setting up, then challenging, hypotheses.

The Finance with Actuarial Science undergraduate course will equip you with financial risk management and analysis skills that will boost your career prospects in investment management, risk management or actuarial science. Financial engineering or financial analysis careers will also be open to you.

Bayes Business School is ranked 3rd best in London, 6th in the UK, 23rd in Europe (Financial Times European Business School ranking 2021).

Objectives

Discover the different aspects of the financial world and in particular how assessing and managing risk is vital for success. To develop the skills you need to understand these ideas, you’ll take a mixture of financial, mathematical, statistical and actuarial modules. You will apply your new technical and analytical skills to solve a wide range of business problems.

In the first year your focus is on building a firm foundation in mathematics, statistics and economics as you begin to develop your understanding of financial risk.

In the second and third years you will broaden your understanding of the financial markets. This will include analysing the various types of financial instruments that are available, how they are valued and how they can be used to provide suitable solutions to financial problems involving risk and return.

You also have a number of electives to choose from like our Mentoring & Coaching for Leadership module.

Program Outline

Structure

What will I learn?

Develop a good knowledge and understanding of finance, statistics, mathematics, actuarial science and related disciplines.
Develop the ability to communicate your knowledge and understanding accurately and effectively.
Develop your understanding of the respective roles of mathematical and statistical calculation, analysis and judgement in actuarial science and finance.
Develop your ability to make reasoned judgements, frame appropriate questions and draw independent conclusions.
Equip you with the skills required to work as a finance professional or an actuary or in alternative fields related to statistics and in business more generally.
Prepare you to enter postgraduate study in finance, actuarial science or related disciplines.
Develop you as a responsible and socially aware professional, who knows that many of the decisions that you make in your career will affect numerous stakeholders, all of whose views and situations must be taken into account

In year 1 Students are required to take a total of 7 core modules.

Core modules:

Introduction to Actuarial Methods and Career Planning
This module raises awareness of your career options within and outside of the actuarial profession. To achieve this aim, the module examines the use of actuarial methods to solve financial problems and provides an introduction to the industries that actuaries work in.
Mathematics for Actuarial Science
This module will initially consolidate your mathematical knowledge to ensure all students have the same basic understanding no matter what their educational background. In the second term we will cover more advanced mathematical topics. The mathematics course is designed to give you the tools needed to solve the problems in the other modules.
Probability and Statistics 1
The probability and statistics module will assume that students will arrive with no knowledge of probability or statistics. The module will start with basic concepts such as summary statistics and basic probability and will develop these concepts to more advanced topics such as confidence intervals, hypothesis testing, regression and probability distributions. This module forms part of the CS1 course of the IFoA.
Finance and Investment Mathematics
This module will focus on the concept of valuing future monetary payments in terms of present values to allow a comparison of different income streams which is critical in any financial decision making. In this module we will consider all payments to be guaranteed. We will also look at linking amounts to various inflation indices. This module covers part of the CM1 course of the IFoA.
Introduction to Economics
To be able to understand the possible changes in the financial world, students need to study economics. This module assumes no prior knowledge and will cover both micro and macro economics over the year. This module covers the CB2 course of the IFoA.
Introduction to Excel and Statistical Packages
This module introduces you to the statistical package Minitab and Excel workbooks, There will also be additional information on the statistical package R but this will not be examined. The lectures and practical sessions are scheduled in such a way that you are able to use the IT tools presented in this module to solve problems generated by concepts introduced in other modules on the programme.
Introduction to VBA for Excel
This module aims to Provide you with an introduction to programming in VBA for Excel, to the level where you can write macros and user-defined functions to assist in carrying out analytical tasks. It will also explain the reasons for technical standards of documentation and give instruction in how to apply them in practice.

In year 2 Students are required to take 5 core modules and choose 3 elective modules.

Core modules:

Calculus and Linear Algebra (Mathematics 2)
This module will cover more advanced techniques in calculus and linear algebra that will be used in your other modules on the degree.
Fundamentals of Finance
This module will introduce you to the various financial instruments and markets that exist allowing you to be able to develop solutions to financial risk questions. This module covers the first part of the CB1 course of the IFoA (the second part is covered in financial reporting).
Stochastic Modelling
This module will allow you to study the modelling of uncertainty of certain probabilistic events. The techniques you learn here can be applied to a number of different situations and will be developed further in more advanced modules. This module covers part of the CS2 course of the IFoA.
Derivatives, Trading and Hedging
Your foundation module in the study of options, futures and other derivative securities. Learn how to select the appropriate derivative security for different risk management applications, and determine the payoffs to risk management strategies and arbitrage mispricings.
Financial Markets
This module applies mathematics to the pricing of assets in the financial markets. Its aim is to examine what we know about the determination of the prices of bonds and equities.

Elective Modules

Contingencies
Alternative Investment Management
Corporate Risk Management
Decision Analysis
Financial Economics
Risk Analysis and Modelling
Financial Reporting
Financial Econometrics
Asset Management
Corporate Finance & Valuation
Probability & Statistics 2

In your third year of study students will take a total of 3 Core Modules and 4 Elective Modules.

Core modules:

Fixed Income Portfolio Management
Develop your understanding of fixed income securities and their use in portfolio management. Build the conceptual foundations, so that as an asset manager, treasurer, investment banker, financial analyst or trader, you can make intelligent assessments of the application of fixed income instruments.
Financial Engineering
This module provides the key tools and techniques for creating synthetic assets as well as methods for identifying fair market value. You will also analyse in-depth fixed income structuring, equity options and structured volatility dependent products.
Asset-Liability Management
This module is designed to expand on the prior knowledge of risk, investment and financial management and enable you to grasp the dynamic environment where banks and other institutions operate. The course brings the management of both sides of the balance sheet of financial institutions together in a unified framework.

Elective Modules

Final Year Finance Project
Operational Research
General Insurance
Asset-Liability Management
Statistical Reasoning, Communication & Ethics
Advanced Econometrics & Forecasting
Emerging Markets
Financial Services Regulation
International Financial Management
Statistical Modelling
Game Theory
Advanced Management Practice

Assessment methods

You will be assessed using a variety of methods, depending on module choices including:

Coursework
Unseen written examinations, taking place at the end of each term (or at the end of a year, if a module is taught over two terms)
Class tests
Online quizzes and tests, using the Virtual Learning Environment
Presentation
Group projects, individual projects.

Percentage of the course assessed by coursework

The approximate percentage of the course assessment, based on 2023/24 entry is as follows:

Year 1

71% written, 4% practical, 25% coursework

Year 2

74% written, 0% practical, 26% coursework

Year 3

56% written, 0% practical, 44% coursework.

Overall workload

Most contact hours take the form of lectures. A number of tutorials, exercise classes and surgery hours are scheduled during the first year, the number decreasing as you progress and you become more able to direct your own learning.

Approximate study time based on 2019/20 entry is as follows:

Year 1

29% scheduled learning, 71% independent learning

Year 2

18% scheduled learning, 82% independent learning

Year 3

13% scheduled learning, 87% independent learning.

On completing this degree, you will be well suited for a wide variety of careers in the financial services sector, including in investment management, insurance or risk management.

Your skills will be welcomed in investment banking, accountancy, commercial banking, financial engineering or financial analysis. You will also be well prepared for a career in management consultancy.

About University

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Masters

Bachelors

Diploma

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Courses

Bayes Business School

Bayes Business School: A Summary

Overview:

Bayes Business School, formerly known as Cass Business School, is a renowned business school located in London. It is part of City, University of London and boasts a rich history of over 50 years in business education. The school is known for its commitment to providing world-leading education and fostering a culture of "always learning."

Services Offered:

Bayes Business School offers a comprehensive range of services to its students, including:

Academic Programs:

Student Hub:

Alumni Network:

Staff Hub:

Student Life and Campus Experience:

Key Reasons to Study There:

Triple-Crown Accreditation:

Top Rankings:

Global Women's Leadership Programme:

Focus on Innovation:

Strong Industry Connections:

Academic Programs:

Bayes Business School offers a wide range of academic programs across various disciplines, including:

Undergraduate:

Master's:

PhD:

MBA:

Executive Education:

Degree Apprenticeships:

Other:

Research:

Location:

Global Reach:

Total programs

Admission Requirements

Entry requirements

Below is a list of countries with information on each about which qualifications we accept.

English language requirements

Information for international and EU applicants

For international applicants requiring a Student Route visa we accept any of the below English language proficiency qualifications at the grades listed.

Please note, the Official Certificate must be awarded OR the qualification must be verifiable online. Statement of Results will not be accepted.

The English Language qualification or test needs to have been taken no longer than two years from the date that the CAS is generated.

English Language Tests:

IELTS (Academic, UKVI or IELTS Indicator): 6.5 overall with no less than 6.0 in any sub test.
Language Cert International ESOL: Language Cert B2 Communicator High Pass
TOEFL (Test centre or iBT Special Home Edition): 92 overall (24 Writing, 23 Reading, 22 Speaking, 21 Listening)
Pearson Test of English (PTE) Academic: 59 overall with minimum of 59 in each sub test
Cambridge English Advanced (also known as Certificate in Advanced English): Grade C (180 overall) at CEFR Level C1 with minimum 170 in each sub test
Cambridge English Proficiency (also known as Certificate of Proficiency in English): Pass qualification (all grades accepted)
Oxford Test of English 130 overall with minimum 120 in each sub test

English Language Qualifications:

IGCSE: English as a First Language (Syllabus 0500 & 0522) or English as Second Language (Syllabus 0510 & 0511) at Grade B or above
International Baccalaureate: Grade 5 at Standard level or Grade 4 at Higher level
Trinity College (Integrated Skills): ISE III – pass in each area
INTO City Pre-sessional English: 6.5 overall with no less than 6.0 in any sub test (NB. Must be the 6 or 8 week Bayes-specific course)
Hong Kong Diploma of Secondary Education (HKDSE): English Language Examination grade 4 or above
GCSE English Language Grade C/5 or above but 1) Qualifications must be issued by Ofqual, SQA, Qualifications Wales or CCEA regulated body in the UK; 2) Education must be undertaken in a UK school.
A Level English Language Grade C or above but 1) Qualifications must be issued by Ofqual, SQA, Qualifications Wales or CCEA regulated body in the UK; 2) Education must be undertaken in a UK school.
Vitnemal English grade 5
French Baccalaureat: 14/20 in English
Malaysian GCE O Level (SPM-1119 syllabus only): grade A

An exception to the above criteria applies to Student Route visa applicants from the below majority English-speaking countries for whom we can accept a wider range of English qualifications:

Antigua and Barbuda
Australia
The Bahamas
Barbados
Belize
Canada
Dominica
Grenada
Guyana
Ireland
Jamaica
Malta
New Zealand
St Kitts and Nevis
St Lucia
St Vincent and the Grenadines
Trinidad and Tobago
United Kingdom
United States of America

Don’t meet the English language requirements? INTO City, University of London offers English language programmes to help prepare you for study at university. These intensive and flexible courses are designed to improve your English ability for entry to degree courses.

Academic English
Online Pre-sessional English

Information for home applicants

In addition to the above English language proficiency qualifications accepted for International applicants, as a Home or EU applicant we can also accept any of the below English qualifications:

GCSE: Grade C or 4
O-Level: Grade C
A-Level: Grade C
Cambridge English First (also known as Certificate of First in English): Grade A (180-190) at CEFR Level C1

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Finance with Actuarial Science BSc (Hons)

Program Overview

Who is it for?

Objectives

Program Outline

Structure

What will I learn?

Year 1

Core modules:

Introduction to Actuarial Methods and Career Planning

Mathematics for Actuarial Science

Probability and Statistics 1

Finance and Investment Mathematics

Introduction to Economics

Introduction to Excel and Statistical Packages

Introduction to VBA for Excel

Year 2

Core modules:

Calculus and Linear Algebra (Mathematics 2)

Fundamentals of Finance

Stochastic Modelling

Derivatives, Trading and Hedging

Financial Markets

Elective Modules

Contingencies

Alternative Investment Management

Corporate Risk Management

Decision Analysis

Financial Economics

Risk Analysis and Modelling

Financial Reporting

Financial Econometrics

Asset Management

Corporate Finance & Valuation

Probability & Statistics 2

Year 3

Core modules:

Fixed Income Portfolio Management

Financial Engineering

Asset-Liability Management

Elective Modules

Final Year Finance Project

Operational Research

General Insurance

Asset-Liability Management

Statistical Reasoning, Communication & Ethics

Advanced Econometrics & Forecasting

Emerging Markets

Financial Services Regulation

International Financial Management

Statistical Modelling

Game Theory

Advanced Management Practice

Assessment methods

Percentage of the course assessed by coursework

Year 1

Year 2

Year 3

Overall workload

Year 1

Year 2

Year 3

Bayes Business School: A Summary

Overview:

Services Offered:

Academic Programs:

Student Hub:

Alumni Network:

Staff Hub:

Student Life and Campus Experience:

Key Reasons to Study There:

Triple-Crown Accreditation:

Top Rankings:

Global Women's Leadership Programme:

Focus on Innovation:

Strong Industry Connections:

Academic Programs:

Undergraduate:

Master's:

PhD: