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Wednesday, September 14, 2011

Math 499: Introduction to Graduate Mathematics
4:00 pm   in 245 Altgeld Hall,  Wednesday, September 14, 2011
 Del Edit Copy
Submitted by seminar.
 Rick Gorvett (Department of Mathematics, University of Illinois)Actuarial Science and Financial Mathematics: Doing Integrals for Fun and Profit?Abstract: While the traditional view of actuarial science has always involved insurance, the discipline is in reality much broader than that. So broad, in fact, that an actuary has even been publicly blamed, perhaps misguidedly, for the recent global financial crisis, due to his Gaussian copula formula! More realistically, the actuarial profession is essential to the identification, quantification, and management of current and future risks and contingencies of all kinds. This presentation will describe the actuarial profession, discuss the nature of actuarial science and financial mathematics, and explore some recent research threads and opportunities in these areas.