Programme Introduction
Prepping for a Professional Career with Our BBA Insurance, Financial and Actuarial Analysis Programme
The Bachelor of Business Administration (BBA) programme in Insurance, Financial and Actuarial Analysis (IFAA), offered by the Faculty of Business Administration at CUHK, provides in-depth education in insurance, finance and actuarial science. The programme is tailor-made for those who wishes to be an actuary, a financial analyst or a risk manager. It offers excellent career opportunity in the area of insurance, banking and investment, business consulting.
In response to the needs of the markets above, the IFAA programme is rooted in Hong Kong’s institutional environment, supplemented with topics related to international issues and practices. The programme curriculum is well-rounded and practical: students in the programme receive training in actuarial and statistical techniques in both life and non-life insurance risk, as well as insurance operations, financial markets, portfolio management and financial derivatives. This paves students’ way to managerial positions in the insurance and finance sectors.
The IFAA programme was accredited by the Society of Actuaries (SoA) in the US in 2011. The programme’s curriculum is aligned with the exam syllabi of the SoA. Our graduates perform very well in professional actuarial examinations. The majority of them enter the actuarial department of insurance companies or consulting firms. Some join other financial sectors such as banking and accounting.
Accreditation
The IFAA Programme was awarded the title of a Centre of Actuarial Excellence by the Society of Actuaries (SOA) in 2011. This is the highest award bestowed upon an actuarial programme, and currently there are only 40 universities holding this title. The SOA recognises IFAA’s excellence in a wide range of areas, including curriculum design, faculty qualifications, connection with the insurance industry and graduate prospects:
“Fully integrated business courses, close to 100% participation in its internship and co-op programme and a strong connection to the industry are among the exceptional qualities of the CUHK actuarial science programme, and are instrumental in positioning students for success.”
– CAE Evaluation Committee (CEC), Society of Actuaries
We are also honoured to be among the inaugural group of the 13 universities recognized by the Society of Actuaries for the University-Earned Credit (UEC) programme in August 2022. Students taking approved courses at CUHK are eligible for specific SOA exam credits if they obtain the required score.
Craft Your Path
Ready to dive into the IFAA programme adventure? Here are some tips from our graduates:
- “Students in the IFAA programme are not only strong in mathematics but are also equipped with excellent communication and presentation skills. You can make good use of the internship and overseas exchange opportunities offered by the programme and the University to sharpen your skills in foreign languages and build a professional network. This experience is extremely useful for your future career.”
- “Although a certain level of mathematical proficiency is required, you do not have to be a prodigy to excel. In addition to quantitative skills, soft skills such as communication and problem-solving skills are vitally important. To lead a fruitful campus life, I recommend that students take an active role and join university societies, participate in exchange programmes, and join as many competitions as possible.”
Career Prospects
IFAA graduates are competitive candidates for a number business careers and are ideally suited for careers in banks, consulting firms, insurance firms and a number of key fields in the financial services industry.
Actuaries
Graduates who aspire to become actuaries are well-equipped for work in insurance companies, consulting firms, government agencies, banks, investment firms, the employee benefits department of large corporations, or any business that faces substantial financial risk.
Insurance Professionals
IFAA graduates can pursue professional careers in insurance as underwriters, insurance adjusters, examiners and risk managers.
Financial Analysts
IFAA students receive training in financial markets, modelling and investment, and are well-positioned for a career as a financial analyst in an investment firm.
The primary aim of the programme is to nurture talent for the insurance industry. About 60% of the graduates start their careers as an actuarial assistant or trainee. About 20% of the graduates work in investment banks, commercial banks, accounting firms and business consultancies. The rest work in non-financial institutions, such as government departments and educational institutions, or pursue higher degrees locally or overseas.
Employers include AIA Company Limited, AXA China Region Insurance Company Limited, Bank of China (Hong Kong) Limited, Bloomberg, BNP Paribas Hong Kong Branch, BOC Group Life Assurance Company Limited, Deloitte Advisory (Hong Kong) Limited, Deutsche Bank, EY, FWD Group, Hang Seng Bank, HSBC, HSBC Insurance (Asia) Limited, Manulife (International) Limited, Prudential Hong Kong Limited and Swiss Reinsurance Company.
If you are interested in this programme, please review the application requirements and deadlines specific to the respective admission scheme to increase your chances of getting accepted.
