Career opportunities

The Actuarial and Financial Engineering master's programme prepares students for professional opportunities or further PhD studies in Mathematical Statistics at the University of Tartu or elsewhere. The University of Tartu offers doctoral programmes in Mathematics, Economics or Mathematical Statistics with specialisation in Financial Mathematics.

Our graduates are welcome at:

  • Banks and other financial institutions
  • Insurance companies
  • Financial departments of various companies
  • Analytics departments of various companies
  • Academic career and PhD studies

Positions our graduates are/have been holding, an incomplete list:

  • Actuary at ERGO Insurance SE
  • Data Analyst at Energy Sales Department in Eesti Energia
  • Senior Business Intelligence Analyst at BigBank AS
  • Statistical Programmer at StatFinn Oy
  • Statistical Data Analyst at STACC (Software Technology and Applications Competence Center)
  • Senior Scoring Risk Analyst at 4finance AS (Latvia)
  • Software Engineer at Facebook
  • Pricing Actuary at Swedbank P&C Insurance AS
  • Specialist at Agricultural Registers and Information Board
  • Financial Director at E.Gulbja Laboratorija (Latvia)
  • PhD students at different universities
Stories of alumni

"Currently, I am an analyst and Business Intelligence consultant in ScandicFusion, helping (mostly insurers) to structurize data and build a data structure to use for business analysis. Before starting my studies in Actuarial and Financial Engineering, I was working in an insurance company as an analyst and risk underwriter and my interest in insurance was one of the main motivators to look for additional education possibilities in a related field.

Studies in Actuarial and Financial Engineering cover many areas, helping to grasp main concepts in mandatory courses and allows you to follow the path that seems to be interesting for each student - insurance, finance, algorithms, economics, mathematics, or others. Academical knowledge gained during studies is also supplemented with a general mindset and knowledge to be successful in any position that requires analytical, logical, detail-oriented, and technical skills. The teaching, as well as technical staff, is professional and helpful, always providing sufficient information about the course, study process as such and everyday life in Tartu (especially at the very beginning of studies, to get settled in).

I do not think I would emphasize one or several courses, the most valuable is general experience gained during my studies, because studies only give you some basic set of tools and skills to start your journey, but the challenges and experience are what makes you a professional. I highly appreciate the opportunity itself to be part of the UT family and Tartu itself is a very beautiful city, close to my heart and I miss it."

Lāsma Ungere, 2020

"As for me, the main benefit of the program of Actuarial and Financial Engineering at the University of Tartu is a very good balance between theoretical knowledge and practical skills. Studying in this program I obtained a strong background in mathematics, statistics, and the basics of economics. Also, we had a lot of computer labs which gave the students the possibility to understand how to implement these bits of knowledge to solve problems from real life. Thereby I improved my skills in R, Python, and Excel.

The sphere of data analysis is rapidly developing right now and specialists with the appropriate skills are in great demand in the labor market. Therefore, students of this program have a lot of opportunities for a successful career. In conclusion, I would say that the program of Actuarial and Financial Engineering is a great start for students who want to develop in the sphere of finances, data science, or statistics and reach high professional results in named fields."

Kirill Smirnov, 2020
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