The School of Mathematical and Statistical Sciences

The School of Mathematical and Statistical Sciences represents the collaborative efforts of the Departments of Applied Mathematics, Mathematics, and Statistical and Actuarial Sciences. Each of these departments offers training in the mathematical and statistical science that prepare our students for pivotal roles in industry, government and academia.

 


Do you want to be the brains of an insurance company?

Consider studying Actuarial Science at Western!

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Do you want to model scientific phenomenon with math, and solve the resulting equations leading to scientific breakthroughs?

Consider studying Applied Mathematics at Western!

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Are you interested in learning how to manage, visualize, model and transform data into solutions to existing challenges or into new and commercializable products?

Consider studying Data Science at Western!

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Are you great at seeing patterns, solving problems and strategizing?

Consider studying Financial Modelling at Western!

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Are you interest in pure abstract thought to help you train for a career in which logical thinking is key?

Consider studying Mathematics at Western!

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Become an expert in the algorithms behind modern innovations.

Consider studying Scientific Computing and Numerical Methods at Western!

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 To learn more about all of our modules see Modules at a Glance.

Distinguishing Features

Industry Responsive

Taking an integrated approach to learning about actuarial science and financial modelling helps our students to respond successfully to the evolving needs of financial institutions that increasingly manage fiduciary and investment risk simultaneously.

The Department of Statistical and Actuarial Sciences at Western is the only department of its kind in Canada to focus on soft – skill development by offering a dedicated business skills course. Our students are also encouraged to broaden their corporate skills during an 8- to 16-month industry internship between their third and fourth year.

Scholarships

Several actuarial scholarships are awarded yearly that provide for an aggregate payout of up to $45,000 annually to undergraduate students in our Actuarial Science modules.  Included are exclusively merit- based as well as industry-sponsored scholarships that consider other attributes such as leadership skills.  Currently, there are three London Life Actuarial Career Scholarships and one Manulife Financial Scholarship awarded annually, the Freeman of the City of London of North America Scholarship that provides $5,000 for a student pursuing an exchange program in London England as well as the Morneau-Shepell and the Mercer Consulting scholarships.

Centre of Actuarial Excellence

Western is designated as a Centre of Actuarial Excellence by the Society of Actuaries (SOA) and is accredited by the Canadian Institute of Actuaries (CIA).  Students pursuing a professional qualification in the CIA may receive exam exemptions for courses taken at Western. The Statistical Society of Canada (SSC) also accredits our university and students completing a degree in Statistics may receive accreditation as an Associate Statistician.

Mathematics in Society

This module is perfect for students considering a career or graduate degrees in any logically or analytically intensive field, such as economics, finance, business, and law. In addition to a set of core Mathematics courses, a broad spectrum of mathematically-oriented courses from other disciplines can be counted toward this module, including particular courses in Applied Mathematics, Computer Science, Earth Sciences, Economics, Financial Modelling, Philosophy, and the Actuarial and Statistical Sciences.

Research Opportunities

Students who are in their fourth year of an Honors Specialization in Applied Math are offered opportunities to work on research projects in close association with faculty members, leading to an expanded applied skill set and the potential to be included in the publication of project results.

Model Champions

Students from Applied Mathematics compete each year in the international COMAP Mathematical Contest in Modeling against over 2,000 teams worldwide. Western is consistently in the top 20 and twice have been world champions.

Careers

Applied Math Mathematics Statistics and Actuarial Science

The acquired skills of an applied mathematician are in demand in almost every area of science and industry. Matrix algebra and calculus can be used to build mathematical and computational models for pure scientific research and industrial process innovation. They are used in areas ranging from cancer therapy treatment design and liquid crystals development to tracking evolutionary resistance to drug therapy. Many of our graduates choose to pursue a graduate degree to specialize further in a specific domain where their education enables work on the leading edge of innovation.

The analytical and problem-solving skills students learn in mathematics can apply to all disciplines. Mathematicians conduct research in any environment where information is analyzed and used to identify patterns. Due to the increased importance placed on technology, big data, and economic efficiency by all kinds of organizations across the globe, mathematicians are increasingly in demand.

Acquiring expertise in statistical methods positions our students to pursue careers in engineering, politics, financial management, insurance, marketing, medicine and social science. Future actuaries will apply their knowledge of mathematics, probability, and statistics to financial problems in the insurance, pensions, and employee benefits fields. Financial modelling graduates are primed to succeed in the pricing and hedging of portfolios of stocks, bonds, and their derivative securities as well as in the analysis and quantification of financial risk in large financial institutions.

 

Careers Network for the School of Mathematical and Statistical Sciences, Transcript Below

Careers Transcript

  • Big Data Analyst
  • Employee Benefits Officer
  • Medicine
  • Financial Advisor
  • Professional School
  • Financial Management
  • Industrial Process Innovation
  • Pension
  • Marketing
  • Insurance
  • Scientific Research