What is an Actuary?

The future is full of uncertainty. Some of the events that can happen are undesirable. "Risk" is the possibility that an undesirable event will occur. Actuaries are experts in:

  • evaluating the likelihood of future events
  • designing creative ways to reduce the likelihood of undesirable events
  • decreasing the impact of undesirable events that do occur
The impact of undesirable events can be both emotional and financial. Reducing the likelihood of these events helps relieve emotional pain. But some events, such as death, cannot be totally avoided. So, reducing their financial impact is very important. Actuaries are the leading professionals in finding ways to manage risk. It takes a combination of strong analytical skills, business knowledge, and an understanding of human behaviour to design and manage programs that control risk.

Who do actuaries work for?

  • Insurance Companies
  • Investment Firms
  • Trust Companies/Banks
  • Governments
  • Universities - Research/Teaching

What should I study in secondary school?

  • Grade 12U Advanced Functions (MHF4U)
  • Grade 12U Calculus and Vectors (MCV4U)

What should I take in my first year at university?

  • Calculus 1000A/B and Calculus 1501A/B or Applied Math 1413, Statistics 1023A/B, and Linear Algebra 1600A/B should be included in your 5.0 first year courses.  We also recommend that you take first year Economics.

Why choose Western?

  • For the sixth year, UWO ranked number one for student satisfaction among large Canadian universities
  • Internship program: you’ll not only benefit from the paid hands-on work experience, but you will also be mentored by a professional in the field
  • Dynamic undergraduate student association
  • High faculty to student ratio
  • Undergraduate opportunities for summer funded research
  • State of the art computing facilities with the most current statistical software
  • Drop-in Help Centre open Monday to Friday, 8:30 - 4:30, providing one-on-one assistance