Statistical and Actuarial Mathematics

 As a statistical and actuarial mathematics major at Saint Mary’s College, you’ll gain experience in mathematical model-building. Your courses will help you develop strong quantitative skills and think clearly and critically about complex problems. Like all Mathematics and Computational Mathematics majors, you will use creativity, analysis, and logic as you learn to synthesize ideas, make decisions, and communicate your results with precision.

"At Saint Mary's, I enjoyed all of the benefits of a small liberal arts college and was still well prepared for graduate work at a research institution. The math department at Saint Mary's inspired me." —Anna Fricano '08

Your studies will focus on financial mathematics and statistical models, particularly in the insurance industry. Opportunities for research and valuable internships will prepare you for a career in business or industry or for graduate studies.

The Saint Mary’s College major in statistical and actuarial mathematics is recognized by the Society of Actuaries as a pre-actuarial program. Actuaries are professionals who apply mathematical and statistical methods to finance and insurance, particularly to the assessment of risk.

Writing in the major
Deepen your understanding of statistical and actuarial mathematics and learn to communicate mathematical ideas to a range of audiences, through experiences designed to prepare you for the writing you’ll do professionally. As a sophomore, you’ll put together a portfolio that demonstrates your proficiency in expository mathematics. As a junior, your portfolio will focus on technical or analytical mathematical writing. Senior year, you’ll write a comprehensive paper that is evaluated by a committee of three faculty members.

Senior comprehensive project
During the second semester of your senior year, you’ll choose a topic to study independently with a faculty advisor in the mathematics department. In a special seminar, you’ll share your work with peers. Your project will culminate with a paper and public presentation of major results, with questions from faculty members who support and understand your work. Recent examples include:

-“Simple Random Walks: Theory and Applications in Multiple Dimensions”
-“Stochastic Calculus with an Application to Option Pricing” 
-“Derivative Pricing: An Introduction” 

Hands-on learning
Following your sophomore and junior years, you’ll be encouraged to find summer internships in a business or industry that lets you put your knowledge of mathematics and statistics to use. The department maintains information on the availability of such opportunities and faculty advisors will help you identify appropriate companies and prepare resumes. Imagine working as a summer intern—usually in a paid position—at Ernst and Young, Hewlett Packard, Lockheed Martin, or Travelers Property Casualty Corporation.

You’ll get up-to-date advice about how to use your degree by attending "After Math," a department-sponsored forum. Through this program, you’ll make valuable contacts with recent Saint Mary’s mathematics graduates who return to campus to describe their experiences on the job.

Careers
Prepare for a career in which technical skills, problem solving, and creativity are valued. Choose a future in the insurance industry or as a business consultant with top companies around the country. Many statistical and actuarial mathematics graduates continue their studies in outstanding graduate programs.