Predictive Analytics and Risk Management, MS
Overview
for the Master of Science in Predictive Analytics and Risk Management
Concentrations for this program include:
This degree program is designed to meet the growing demand for professionals with expertise in advanced analytical techniques for risk management across industries such as insurance, consulting, investment, pensions, healthcare, banking, and financial services. The program integrates training in modern statistical methods with principles of actuarial science and financial risk management. It is intended for students with a strong quantitative background who seek careers in predictive analytics for insurance and other financial sectors.
The curriculum provides a multidisciplinary and integrated learning experience. Core requirements include courses from an actuarial science perspective, along with a case study course and an internship course. Students receive training in statistical machine learning, big data techniques, and Bayesian statistical methods. In addition, electives from three related disciplines allow students to tailor the program to their individual educational goals.
The 32-credit-hour program can be completed in one academic year with appropriate course scheduling. Each concentration requires 20 credit hours of coursework organized around three broad areas of expertise, with at least 12 hours completed at the 500 level.
Graduate Degree Programs in Mathematics
Degree Requirements
for the Master of Science in Predictive Analytics and Risk Management
| Code | Title | Hours |
|---|---|---|
| Major Requirements | 12 | |
| Investments and Financial Markets | ||
| Predictive Analytics | ||
| Risk Analytics and Decision Making | ||
| Graduate Internship (or ASRM 490) | ||
| Foundations in Risk Management | ||
| Code | Title | Hours |
|---|---|---|
| Required Concentration (Choose one from below): | 20 | |
| Total Hours | 32 | |
| Code | Title | Hours |
|---|---|---|
| Other requirements (may overlap) | ||
| A concentration is required | ||
| Minimum 500-level hours required overall | 12 | |
| Minimum GPA | 3.0 | |
Learning Outcomes
for the Master of Science in Predictive Analytics and Risk Management
- Apply statistical learning techniques to analyze big data related to financial and insurance industries.
- Use quantitative risk analysis to assess risks and devise creative methods to contain and manage them.
- Demonstrate proficiency in using programming software to conduct statistical analysis and visualizations.
- Communicate results effectively to technical and non-technical audience.
- Participate efficiently in projects that require team collaboration.
Contact Information
for the Master of Science in Predictive Analytics and Risk Management
Actuarial Science and Risk Management
Department Chair: Feng Liang
Program website
Program Office: 264 Computing Application Bldg., MC-382, 605 E Springfield Ave, Champaign, IL 61820
Phone: (217) 300-5630
Email: PARM@illinois.edu
College of Liberal Arts & Sciences
College of Liberal Arts & Sciences website
Admissions
Graduate College Admissions & Requirements
Overview of Program Admissions & Requirements