Master's in Actuarial Mathematics

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Master's in Actuarial Mathematics

Model the Future of Risk. Lead with Expertise.

Risk is a transformative element in the lives of people, companies and societies.

An actuary's job is to define, assess and manage risk to optimize the financial impacts resulting from the uncertainty associated with future events. Actuaries work in various areas, traditionally classified under Insurance, Financial, Pension Funds, and Health risks. Pricing, the constitution of adequate financial reserves for future liabilities, evaluate present liabilities related future loss of income, credit risk analysis, the valuation of loans and insurance portfolios, are some examples of the activities carried out by an Actuary.

The curriculum of the Master in Actuarial Mathematics is aligned with the Syllabus of the IAA (International Actuarial Association) and the AAE (Actuarial Association of Europe) ensuring international recognition of NOVA FCT students.

Why this Master's?

  • Innovative curriculum aligned with the International Core Syllabus: Basic training aligned with the best international training institutions, combining the theoretical component with applications, including artificial intelligence techniques, to train professionals with a distinctive profile, ready to lead the transformation of risk management and actuarial science.
  • Promising career opportunities: High demand for risk managers and actuaries nationally and internationally. The social relevance of the profession also ensures that it is one of the best-paid professions globally.
  • Strategic Partnerships with the Industry: Our partnerships with leading companies in the industry ensure that students are offered high-quality access to the job market in a planned way. It also gives students the option of starting their professional activity before completing their master's degree.
  • Academic Excellence in Teaching and Research: The teaching staff is made up of renowned experts in the field. Offers a wide range of dissertation opportunities in a business environment, providing valuable practical experience.
  • Dissertations with Real-World Impact: We offer a wide range of opportunities for dissertations in a business environment, providing valuable practical experience during the master's degree.
  • Theoretical and Practical Approach: In addition to the theoretical and scientific component, classes are enriched with the presentation, resolution and discussion of examples from the insurance industry to consolidate the concepts taught. The partnerships developed allow national and international reference professionals to collaborate in the teaching of core subjects for the market.
  • Advanced Enterprise Risk Management: Immerse yourself in the mathematical analysis of risk, with a curriculum enriched by integrated knowledge of Economics, Computer Science and Artificial Intelligence, preparing you for the multifaceted challenges of the sector.

Applications 2025/26

1st Phase: FEB. 3rd to MAR. 22nd

2nd Phase: JUN. 2nd to JUL. 18th

Vacancies: 25

Duration: 2 years (120 ECTS)

Format: In-Person

Language: Acreditado em Inglês

DO YOU HAVE QUESTIONS?

Course Coordinator: Lourdes Afonso, mmat.coordenador@fct.unl.pt

Academic divison: mestrados@fct.unl.pt

I want to apply:
NATIONAL APPLICATIONS
INTERNATIONAL APPLICATIONS

Program

All the curricular units of the Master's Degree are under the responsibility of Professors from the Department of Mathematics with actuarial training and practice.

Several curricular units are lectured in partnership with guests linked to professional activity, to illustrate the relevance of the curriculum in the business world and allow companies to play a more active role in the training of students.

Curriculum

For whom

  • Holders of a bachelor’s degree or legal equivalent with 120 credits in the areas of Mathematics or Statistics;
  • Candidates with a bachelor’s degree in Exact Sciences, Technology, Engineering or Economics, Management and Accounting interested in Applied Mathematics;
  • Holders of a foreign higher academic degree awarded following a bachelor’s degree organized, in those areas, in accordance with the principles of the Bologna Process by a State adhering to this Process;
  • Holders of a foreign higher academic degree, in those areas, which is recognized as satisfying the objectives of the bachelor's degree by the NOVA FCT Scientific Council;
  • Holders of an academic, scientific or professional curriculum that is recognized, by NOVA FCT Scientific Council, as able to complete the master’s degree in actuarial mathematics.

Career opportunities

  • Risk managers, specialized in actuarial work;
  • Insurance companies;
  • Banking
  • Investment companies;
  • Consultancy;
  • Supervisory or regulatory authorities;
  • Pension fund management companies.

Testimonials

João Correia

João Correia

Atuário no Departamento de Análise de Riscos e Solvência da Autoridade de Supervisão de Seguros e Fundos de Pensões (ASF)

"A escolha pela NOVA FCT, foi, desde logo, motivada pelo plano de curso abrangente e pelo corpo docente, cuja experiência académica e profissional na área motivou uma maior confiança. O mestrado conjuga a teoria atuarial e uma enorme prática computacional, duas vertentes inseparáveis para a formação completa de um atuário no séc. XXI, que me valeram um acesso direto ao mercado de trabalho e me permitiram uma enorme flexibilidade nesta fase inicial da minha carreira. No último semestre do curso, em 2023, realizei o meu estágio curricular na ASF, onde vim a ingressar nos quadros, como Atuário no Departamento de Análise de Riscos e Solvência".

Pedro Duarte

Pedro Duarte

"Já conhecendo a exigência e prestígio da NOVA FCT, após completar a licenciatura, não tive dúvidas de que prosseguir o Mestrado em Matemática Atuarial seria a escolha acertada. De facto, não me arrependi: para além de ter desenvolvido competências informáticas e ter tido contacto um pouco com todas as áreas do atuariado, ainda me permitiu uma relação mais próxima com as empresas a partir do programa de estágios".

Matilde Oliveira

Matilde Oliveira

Atuária, Departamento de Resseguro, Solvência e Capital da Santander Totta Seguros

"O Mestrado em Matemática e Aplicações – Ramo Atuariado, Estatística e Investigação
Operacional da NOVA FCT foi uma escolha natural para mim, dada a sua dimensão
eminentemente prática e a reputação dos seus professores. A vertente prática é a característica mais relevante que reconheço a este curso pois, além de me ter permitido aprofundar a teoria das minhas áreas de preferência, fomentou o contacto direto e contínuo com softwares absolutamente essenciais para a minha carreira enquanto Atuária".

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Partnerships

The Master's Degree in Actuarial Mathematics includes a program of sponsors from the insurance industry that allow merit scholarships and other initiatives related to the risk management industry.

Parcerias

About the Department of Mathematics

The Department of Mathematics at NOVA FCT is a permanent teaching and research unit of NOVA FCT. With over 70 PhD faculty members, the Department of Mathematics engages in a wide range of activities in the field of Mathematics, including teaching, research, promotion, and dissemination. It also provides lifelong learning opportunities and offers services to the community.

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