Professional opportunities

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ACTUARY (SUBJECT TO PASSING THE STATE EXAMINATION AND REGISTRATION IN SECTION A OF THE REGISTER OF ACTUARIES)
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FUNCTIONS
The Degree Programme includes supervision, coordination, and consulting roles for the resolution of problems related to data and information management in the specific areas and disciplines covered. There is also substantial interaction with experts in the fields of finance, banking, insurance, and pension fund supervision, as well as securities brokerage and asset management.
Master's degree graduates are specifically provided with the tools necessary to practice the profession of actuary, as regulated by law. To practice the profession of actuary, students must pass a specific State Examination and be registered with the National Order of Actuaries (Section A).
The Actuary primarily assumes the following functions:
• the formulation and development of technical plans, as well as the transformation, reorganization, and liquidation of insurance companies and pension funds;
• the calculation and evaluation of technical bases, technical reserves, and tariff and contribution structures for insurance companies and pension funds;
• the analysis of business risks and financial risks associated with the operation of insurance and pension activities;
• the actuarial analysis and audit of insurance balance sheets and portfolios, the technical balance sheets of pension funds, as well as the related reporting and certifications;
• the technical-actuarial design of life and non-life insurance rates and pension funds, the design of insurance products, and the development of application software.
Furthermore, graduates in this Degree Programme are equipped with the necessary tools for:
• assuming managerial and operational roles in insurance;
• conducting insurance research, with particular reference to the calculation of premiums and technical reserves in life insurance, non-life insurance, and various public and supplementary pension plans;
• managing and control the insurance funds in which technical reserves are invested;
• defining and measuring insurance and market risks for monitoring company solvency.

SKILLS
Graduates possess expertise in insurance, financial, and pension systems, as well as the ability to measure and manage risk.
Master's degree graduates, in particular, will have acquired the ability to apply probabilistic and statistical techniques to insurance phenomena (driven by uncertainty), enabling them to accurately calculate premiums and technical reserves in life insurance, non-life insurance, and various forms of public and supplementary pension provision. Furthermore, they will have acquired knowledge of the databases relevant to managing typical insurance risks and mastery of insurance and market risk measurement and mitigation techniques, as well as knowledge of the regulatory requirements relating to the activities of insurance and reinsurance companies. Master's degree graduates will also have the critical tools necessary to establish and evaluate management policies aimed at controlling solvency.

CAREER OPPORTUNITIES
The main career opportunities are expert roles, often in positions of high responsibility, in insurance and reinsurance companies, securities brokerage firms, asset management companies, and other institutions operating in the fields of finance, social security, banking, insurance, and pension fund supervision, as well as in other economic and financial contexts characterized by systematic experiences of interdisciplinary collaboration in the face of complex phenomena and uncertain conditions.
Master's degree graduates, in particular, will be able to work as actuaries and hold operational and management roles in insurance and reinsurance companies (non-life actuaries, life actuaries, pension funds, actuarial functions, risk management, etc.). Furthermore, they will be able to hold positions in supervisory institutions, with particular reference to insurance supervision, in consulting and auditing firms, and in IT companies developing administrative and management software and calculating solvency requirements for insurance companies.
This study path is particularly suitable for access to PhD programmes in actuarial sciences and risk management.
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EXPERT IN FINANCIAL METHODOLOGIES
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FUNCTIONS
The Degree Programme includes supervision, coordination, and consulting roles for solving problems related to data and information management in the specific areas and disciplines covered. There is also substantial interaction with experts in the insurance, reinsurance, and pension fields.
Master's degree graduates are specifically equipped with the tools necessary for:
• assuming managerial and operational roles in securities portfolio management, trading, and asset management;
• undertaking financial research;
• managing and controlling risks in financial and insurance institutions (commercial banks, investment banks, insurance companies, securities brokers, asset management companies), non-financial companies, supervisory bodies, and technical, strategic, and IT consulting firms.

SKILLS
Master's degree graduates possess expertise in insurance, financial, and pension systems, as well as the ability to measure and manage risk.
Master's graduates, in particular, will have acquired the skills necessary to assess the theoretical price of a financial asset, or fair value, required for portfolio management and decision-making on investment strategies. The methodologies acquired during the training programme will also enable them to measure the various risks associated with credit and investment exposures, such as market risk, credit risk, and operational risk, in order to accurately determine regulatory requirements in the insurance and banking sectors.

CAREER OPPORTUNITIES
The primary career opportunities are as an expert, often in positions of high responsibility, in insurance and reinsurance companies, securities brokerage firms, asset management companies, and other institutions operating in the fields of finance, social security, banking, insurance, and pension fund supervision, as well as in other economic and financial contexts characterized by systematic experiences of interdisciplinary collaboration in the face of complex phenomena and uncertain conditions.
Master's degree graduates, in particular, may hold operational and management positions in financial institutions, banks, and financial management offices of non-financial companies. A highly sought-after position in this field is that of business analyst in auditing or consulting firms. They are also sought after by private and public institutions for the valuation of complex financial instruments, such as derivative contracts, as well as by national and international supervisory or regulatory authorities.
This programme is particularly suited for access to PhD programmes in quantitative methodologies for finance and risk management.