Malaysian actuarial science student makes history

  • Nation
  • Monday, 29 Apr 2019

KUALA LUMPUR: UCSI Univer­si­ty’s James Koo (pic) beat the odds when he became the first Malaysian to obtain the Associate of Cana­dian Institute of Actuaries (ACIA).

The third-year actuarial science student is also the first undergraduate from one of the top private universities to have passed the Society of Actuaries’ Fundamentals of Actuarial Practice (FAP).

To acquire Associateship, students would have to sit for five professional examinations, FAP and attend a professionalism workshop organised by the Canadian Institute of Actuaries (CIA) in Canada.

Koo said the FAP consists of on­­line modules and assessments that test one’s technical knowledge and application of insurance pricing, reserving and actuarial control cycle.

“I am happy because it is ‘rare’ for an undergraduate to achieve this recognition,” the 21-year-old from Johor Baru said.

With the ACIA, Koo said his chances of landing a “competitive job” are much higher, adding that he had already been called up for several job interviews.

“Being an Associate provides me with the chance to stand out from the crowd. I have been called for interviews by several actuarial consulting firms even before completing my undergraduate studies,” he said.

The SMK Taman Daya Johor Baru alumnus said his next step would be to improve his programming language knowledge because the demand for automation in most jobs due to Industry 4.0 has made it imperative for actuarial graduates to be skilful in the area.

“My ambition is to become a consulting actuary in a general insurance company. I have chosen general insurance due to the higher involvement of statistical concepts and modelling,” he said. — Bernama

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