Passionate about

mathematics and technology?

Enjoy making sense
of facts and figures?
Looking for an
exciting and financially
rewarding career?

An age of information
Read any articles in the media today and it
wont be long before someone, somewhere
is quoting facts and figures. As modern
technology generates large volumes of data
and information on anything you can think of,
we increasingly rely on skilled professionals
to analyse this data and information. These
professionals interpret the outcome of the

Consider a degree
programme within the
DEPARTMENT OF

Statistics and
Actuarial Science

analyses and from the gained insight, improved

decisions of importance can be made.
At Stellenbosch University the courses offered
by the Department of Statistics and Actuarial
Science are designed to develop the skills
needed by these professionals.
Prospective students may choose from a number
of degree programmes that opens the door
to careers in statistics, actuarial science and
financial risk management, among others.

Skills you can expect to develop

Statistics

Our bachelor degree programmes run for three years with the option of
postgraduate study. In the first year, all students take more or less the same
subjects. From the second year, you can follow or switch to your chosen
focus of study.

Statistics is the science that makes sense of quantitative information.

Statisticians describe and analyse data, using mathematical statistical and
probability models. Based on these analyses, conclusions and calculated
decisions can be made under uncertainty.

Whatever subjects you choose, you can expect to develop specialised

mathematical and statistical modeling knowledge, excellent business acumen,
strong computer skills, the ability to manage projects and creatively analyse
and solve problems.

Students who study Statistics acquire analytical skills for scientific decision
making in business and industry. After successfully completing their studies and
gaining sufficient practical experience, they have the opportunity of obtaining
the professional qualifications of chartered or certificated statistician.
Statistics is a truly interdisciplinary science that is used in areas as diverse as:

Where you can expect to work

Health and medicine, e.g. in designing the clinical trials of a new

pharmaceutical drug;

Depending on your interests and skills, your career may develop in:

Business, e.g. calculating consumer demand for a new product or

optimising the investment yield of portfolios;

Private corporate companies, which need to evaluate risks and

make strategic decisions;
Government, the public sector and industry where vast data sets
need to be analysed;
Consulting firms, which for example need to validate advanced
financial derivative pricing procedures;
Financial services industry including banks, insurance and asset
management companies;

Government, e.g. analysing census and crime data;

Environment/agriculture, e.g. extrapolating rhino population figures;
Industry, e.g. designing experiments and optimising processes.
For this reason, statisticians are highly sought after in business, industry,
research and public sectors where they take up roles as data mining experts,
data managers, statistical analysts and business analysts. Qualified students
can look forward to an exciting and financially rewarding career, often working
alongside management and decision-makers in major organisations.

Accounting companies;
Universities (as academics);

Actuarial science

Research institutes.
In short, actuaries are professional analysts who manage the financial
consequences of risk. Actuaries use mathematical techniques and models
to assess the likelihood of future events, and design creative ways to reduce
the impact of these potentially adverse events.
Our modern, fast-changing society faces many different risks. Actuaries fulfil
an indispensable role in modelling insurance and investment risk. They are the
architects of the plans that insure our lives, health and property, and pave
the way for financial security in retirement.
The actuarial qualification is a professional qualification and actuaries are among
the most highly respected and well-paid professionals in the financial industry.

Financial risk management

The professional management of financial risks created by market, credit
and operational uncertainty is becoming increasingly important. But risk also
implies opportunity. Financial risk management (FRM) uses mathematicalstatistical models to manage costly exposure to financial risk and optimise
the returns on financial investments.
Qualified students can take up stimulating and lucrative positions in the
financial services industry (usually investment banks and asset management
companies) as financial risk managers, portfolio managers, asset managers
and quantitative financial analysts.

Why study at Stellenbosch University?

The Faculty of Economic and Management Sciences is a centre of excellence
that has produced many prominent South African business leaders and
entrepreneurs. Our degree programmes are highly regarded both within and
outside of our countrys borders. This in turn allows us to attract top students.
We strive to create a vibrant learning environment. Our skilled lecturers and
researchers, together with guest lecturers and specialist practitioners, provide
an innovative and relevant learning experience. The Faculty also has access to
outstanding modern technology, computer and library facilities.
The Department of Statistics and Actuarial Science, one of the Facultys eight

Degree programmes

departments, collaborates with a network of national and international role

players, such as SAS (a global software company), Eskom, Sasol and Novare.
These academic and business partnerships allow our students to apply their
knowledge and skills to real-world problems.

At Stellenbosch University, the Department of Statistics and Actuarial Science

falls within the Faculty of Economic and Management Sciences.
The Department offers the following degree programmes:
BCom (Mathematical Sciences)
- Focus on Mathematical Statistics and/or Financial Risk
Management (FRM)
BCom or BCom (Economic Sciences)
- Statistics (more applied than Mathematical Statistics) as the main subject
BCom (Actuarial Science)
- Designed for the student who wants to be an actuary
- Structured so that successful students are exempt from having to write
some of the professional exams, as required by the Actuarial Society of
South Africa (ASSA). In order to qualify as an actuary and register as a
Fellow or Associate of ASSA, students must pass professional exams and
obtain work-based skills. This usually takes another three to six years
after having succesfully completed the BCom (Actuarial Science) degree.
BSc (Mathematical Sciences)
- Focus on Mathematical Statistics
All the above programmes prepare students for studying towards Honours,
Masters and PhD degrees. From 2014, modules will increasingly be offered in
both English and Afrikaans by means of simultaneous interpreting.

All the bachelor degrees offered by the Department of Statistics and

Actuarial Science are a springboard to postgraduate study and/or a
professional qualification. In fact, our graduates are globally in demand
to take up stimulating, challenging and financially rewarding positions.

More information
For careers in statistics, financial risk management or actuarial science, visit:
www.beanactuary.org; www.sastat.org.za; www.actuarialsociety.org.za;
www.careerjet.co.za; www.iccssa.co.za.
For details about the admission requirements, course structure and
language policy of degree programmes, visit www.sun.ac.za/ems.