Two students talk and smile while standing in an academic building with large windows. One holds a notebook, and the other holds a laptop and pen. Both wear CMU-branded maroon clothing, suggesting a school-related discussion. Two students talk and smile while standing in an academic building with large windows. One holds a notebook, and the other holds a laptop and pen. Both wear CMU-branded maroon clothing, suggesting a school-related discussion. Two students talk and smile while standing in an academic building with large windows. One holds a notebook, and the other holds a laptop and pen. Both wear CMU-branded maroon clothing, suggesting a school-related discussion.

Actuarial and Risk Analytics
Minor

Actuarial and risk analytics minor overview

Every big decision involves risk. Insurance companies, investment firms and even healthcare systems rely on data to figure out what’s a smart investment — and what’s not. That’s where you come in.

Our actuarial and risk analysis minor gives you the tools to understand and manage risk using real-world data. You’ll explore how professionals make smart predictions using software, statistics and financial models. This minor is designed for students majoring in statistics, data science or actuarial science who want to build career-ready skills in risk management.

Program Snapshot

Program Type: Part-Time
Location: On Campus
Program Length: One year
Credit Hours: 25

What you'll learn in actuarial science and risk management

This minor teaches you how to think through problems using data. You’ll learn how to:

  • Use tools like Python, R, SAS and Tableau to explore complex data sets.
  • Spot patterns, build models and make smart predictions.
  • Break down financial and statistical information to understand risk.
  • Solve real problems in insurance, finance and healthcare — like estimating the cost of natural disasters, evaluating economic policies or pricing health coverage.

The courses are hands-on, focused and designed to reflect the thinking used in actuarial science and risk management jobs across industries.

Courses What Will Transfer

Actuarial and risk management highlights

With an actuarial science minor, you'll:

  • Join an in-demand field: According to the U.S. Bureau of Labor Statistics, actuary roles are projected to grow 22% from 2023 to 2033, which is much faster than the average for all occupations.
  • Use real tools: Work with the same software that professionals use — Python, R, SAS and Tableau.
  • Save time and money by double-counting classes: If you’re majoring in statistics, data science or actuarial science, some courses can count toward both your major and this minor — so you can finish faster, saving you time and money.
  • Learn from people who’ve done the work: Your professors have real experience in data and finance.
A student in maroon with gold earrings and gold necklace, typing code on a laptop.

There's a club for that

If you're into coding, modeling or just love solving real problems with data, check out the Data Analytics Club.

Run by students from all kinds of majors, this club hosts weekly meetups, tool demos and events with industry speakers. You'll meet new friends with similar interests and start building your professional network before you graduate.

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