Actuarial Science Masters Program

Author: Kathy Phillips


The Department of Applied and Computational Mathematics and Statistics (ACMS) at the University of Notre Dame was created in 2010 and has already developed a strong track record of cutting edge research combining applied mathematics, data science, scientific computing, and statistics.  The Professional Masters Program (MS-ACMS) trains students to solve complex real-world problems using statistical, mathematical, and computational modeling.  Students complete 30 credits of coursework with a full-time enrollment following either the 10 month or 16 month option.  Students can now enroll in the new Actuarial Science track of the MS-ACMS program with classes starting in summer 2023.  This track complements the three existing MS-ACMS tracks in Predictive Analytics, Applied Statistics, and Applied and Computational Mathematics.  Additionally, ACMS also offers a part-time online masters program in data science.

Led by Prof. Shane Leib, a Fellow of the Society of Actuaries with over 20 years of industrial experience working as an actuary, this actuarial science masters program provides students the ability to learn the advanced skills necessary to succeed at the highest levels as actuaries and prepare them for critical positions in the world of actuarial science.  This new program is built from four key components: actuarial modeling, business fundamentals, predictive analytics, and industry involvement.

The backbone of the program is a two-semester sequence in actuarial modeling.  Students will learn to model all aspects of insurance companies to support risk calculations, new product development, solvency analysis, and asset-liability management.  The learning will make use of specialized modeling tools used by actuaries in their day-to-day jobs, which will prepare students to step into an actuarial career armed with the knowledge and skills necessary to allow them to make the maximum impact at the companies they join.

Business fundamentals will help graduates tailor their analyses to make the maximum impact on the business.  Actuaries are also responsible for communicating complex topics to a variety of stakeholders to help them understand the issues being faced and the potential solutions.  In the corporate finance course, students will learn how to effectively present their insights in the business environment through project work and presentations.

Predictive analytics will complement the actuarial modeling skills to provide students with the capabilities to work with advanced tools and techniques that have exploded in popularity over the last decade.  These tools and techniques have become more critical to the work that actuaries perform and the decisions that they make.  This will help prepare students to be successful in the actuarial credentialing system where predictive analytics and modeling are gaining focus.

Industry involvement is a key differentiator for this new program in actuarial science.   This program will coordinate with alumni and others in the industry to bring different perspectives and experiences through regular presentations. The goal will also be to collaborate with industry partners on in-class projects that provide learning opportunities to the students and valuable work products to the companies.

For more information including how to apply, course requirements, tuition, and financial aid, visit