LTU ALERT:

For Thursday 02/06/25, the campus will be closed until 12 noon today due to the severe weather. All classes scheduled after 12 noon will take place as scheduled. Students should check Canvas for details on classes.

Actually, Actuarial Science Opens Doors for LTU Students
By Renée Ahee

Luke Sabo ’21 holds a Bachelor of Science in Mathematical Science with a concentration in Actuarial Science from LTU. He loves his job as an actuarial analyst. Sabo always liked math and was good at math in school. But he’d never heard of an “actuary” until one of his high school teachers left the profession to become an actuary.

“While you learn most things on the job, LTU does what college is supposed to do: give you the tools to succeed.”

– LUKE SABO ‘21

Five years ago, LTU established this degree program to open a new career opportunity for students. Program Director Yelena Vaynberg explained that mathematical occupations are growing much faster than the national average – with median salaries well above the national average in fields such as actuarial science, finance and mathematics. Actuarial science includes business studies, finance, insurance, retirement investments, among other related fields. “It’s one of those ‘secret’ jobs,” Vaynberg said. “There are only 40 to 50 thousand actuaries in the whole country but it’s a growing field.

Image Description

Luke Sabo ’21, proudly displaying his LTU Alumni banner in his home office

“Not many people know what an actuary does. Math is what an actuary does. Like any mathematician, you solve real-world problems and have a social impact.”

Actuaries are employed by banks, financial and stock brokerage firms, insurance companies, automotive and other manufacturing companies, and government agencies. “You study statistics, probability, calculus, and other math disciplines but you also must know how math is applied in the business world,” Vaynberg said. LTU’s Actuarial Science curriculum includes a business class where students learn how annotation works, how stocks and bonds work, and how banks work.

“What are the selling points?” Vaynberg asked rhetorically. “Independence; it’s easy to get a job; you don’t have to go to graduate school; interesting and intellectually challenging; relevant; there’s job security; and you have a professional career,” Vaynberg replied.

“Independence; it’s easy to get a job; you don’t have to go to graduate school; interesting and intellectually challenging; relevant; there’s job security; and you have a professional career.”

– YELENA VAYNBERG, ACTUARIAL SCIENCE PROGRAM DIRECTOR

There are two professional organizations that support and credential actuaries. The Society of Actuaries, whose members are in the practice areas of pensions, life insurance, casualty insurance, health insurance, financial reporting, and risk management, and Casualty Actuarial Society, whose members focus on property and casualty insurance, reinsurance, finance, risk management and enterprise risk management.

“There’s a ton of legality associated with this profession, a lot of protected classes. We can’t discriminate, for example. And there’s a lot of state regulations you have to comply with. What LTU does is set you up for success. While you learn most things on the job, LTU does what college is supposed to do: give you the tools to succeed,” Sabo said.

Included in LTU’s actuarial science studies is preparation for the P Exam (Probability) and FM Exam (Financial Mathematics), which are required for a position as an actuarial assistant. Sabo, who is following the property and casualty path, has passed the P, FM, and the IFM (Investment in Financial Markets), and will sit for the fourth exam, the MAS1 (Modern Actuarial Statistics) on November 1. He explained that CAS offers seven exams that test the level of knowledge and experience of an actuary, and at which point an individual is credentialed as an actuary and designated an Associate (ACAS). Successfully passing three more exams designates a practitioner as a Fellow (FCAS). He enjoys the challenge of preparing for and taking the exams. “I definitely get a sense of accomplishment,” he said. “Without the challenge, it’s not worth it.”

Other Stories

» Document Viewer

Use Your Cell Phone as a Document Camera in Zoom

  • What you will need to have and do
  • Download the mobile Zoom app (either App Store or Google Play)
  • Have your phone plugged in
  • Set up video stand phone holder

From Computer

Log in and start your Zoom session with participants

From Phone

  • Start the Zoom session on your phone app (suggest setting your phone to “Do not disturb” since your phone screen will be seen in Zoom)
  • Type in the Meeting ID and Join
  • Do not use phone audio option to avoid feedback
  • Select “share content” and “screen” to share your cell phone’s screen in your Zoom session
  • Select “start broadcast” from Zoom app. The home screen of your cell phone is now being shared with your participants.

To use your cell phone as a makeshift document camera

  • Open (swipe to switch apps) and select the camera app on your phone
  • Start in photo mode and aim the camera at whatever materials you would like to share
  • This is where you will have to position what you want to share to get the best view – but you will see ‘how you are doing’ in the main Zoom session.