M.B.A. - Specialization in Actuary Sciences and Risk Management

Program Highlights

The actuarial and risk management specialization at Ono Academic College was created after professional consultation with the Association of Actuaries in Israel, the professional body that certifies qualified actuaries and those who are in learning and training in Israel.

Upon completion of the degree and completion of all the mandatory actuarial courses, the graduate is entitled to receive an actuarial analyst certificate in Israel. Later, upon completion of additional exams, the graduate is eligible to receive an international actuary certificate accredited by the British Actuarial Association.

This is the only program aimed at the actuarial profession, focusing on the applied-professional aspect of the field.

Overview

Introduction:

The M.B.A. degree with a Specialization in Actuarial Sciences and Risk Management at Ono Academic College was created after professional consultation with the Association of Actuaries in Israel, the professional body that certifies qualified actuaries and those who are in learning and training in Israel. The association has a mutual recognition agreement with the British Association of Actuaries.
The choice of combining a specialization in actuarial sciences and risk management as part of the master’s degree studies in business administration is a natural one, in light of the high degree of synergy between the subjects required for actuarial studies and those which form the core courses of business administration: economics, financial accounting, financial management, statistics, mathematics and risk management. In the actuarial sciences and risk management specialization, these courses are taught at the highest level.
The graduates of the specialization receive comprehensive preparation for the first of the two stages of certification in actuarial sciences, both in Israel and at the international. The training allows the graduates of the specialization to find employment in key positions at high managerial levels in the areas of risk management and analysis.

Program Features:

• Eligibility for a master’s degree in business administration (MBA) with specialization in actuarial sciences and risk management.
• A graduate of the program who has successfully completed all the core actuarial subject exams, which are given as part of the degree and in accordance with the British curriculum, and in addition has accumulated three years of work experience in a relevant field – is entitled to recognition as an actuarial analyst by the Israel Actuarial Association.
• The core exams will be recognized for the purpose of continuing the exams given by the British Association of Actuaries, in order to receive the title of International Actuary – AIA (Associate of the Institute of Actuaries) and Senior International Actuary – FAIA (Fellow of the Associate of the Institute of Actuaries).

The Specialization’s Courses Include:

• Finance and Financial Management for Actuaries (CB1)
• Economics for Actuaries (CB2)
• Statistical Theory for Actuaries (CS1A)
• Software Applications in Statistical Theory for Actuaries (CS1B)
• Mathematics for Actuaries (CM1A)
• Mathematical Excel applications in actuarial sciences (CM1B)
• Risk Management Models for Actuaries (CS2A)
• Stochastic Models in Actuarial Science (CM2A)
• Excel applications for stochastic models (CMB2)
• Practical Actuarial Training (CP1)
• Practical workshop in actuary sciences
• Managing business negotiations
• Business strategy
• Entrepreneurship and business innovation
• Labor law and ethics for managers

To download the internship brochure, for the 2023-2024 academic year, with the full list of internship courses (not including the core courses) – click here
To download the information brochure for the 2023-2024 academic year, an M.B.A. master’s degree that includes an extension for the core courses – click here

Our Lecturers

Dr. Kalir Ido

Head of the Specialization in Finance and Capital Market in the Bachelor's Degree Program.

My Philosophy

Dr. Ido Kalir of the Specialization in Actuarial Science and Risk Management

Actuarial studies really prepare you for the rest of your life. The variety of occupations and positions in Israel and abroad in this field is so extraordinary that there is not a single actuary who gets bored with the profession - he or she simply changes fields. This international training program creates a situation where personal development does not end at the conclusion of the degree either. Even holders of the title of "expert international actuarial science" continue to study and earn additional diplomas

Our Program Graduates Speak

Every course and workshop is taught according to the international curriculum program that was built and approved to meet the strict standards of the British Actuarial Association.