Towson University’s Actuarial Science and Risk Management program has been named a Center of Actuarial Excellence by the Society of Actuaries.
The distinction puts Towson in an elite class; only 15 programs in the country have received the recognition. Towson’s is the only program in Maryland to be recognized.
“It’s as if we are part of the Ivy League of actuarial science and risk management, without the high tuition,” says ACRM Program Director Ohoe Kim. “It shows that Towson University is tremendously dedicated to the program, and that a student who invests their time and dreams in our program will have some of the best support, resources, research and advising in the nation.”
The SOA has strict requirements for the honor, including the quality of the program, curriculum, number of degrees conferred per year, faculty, connections to industry, and integration with other disciplines. Kim had to submit a detailed, 500-page application, and the program was subjected to a site visit from the evaluation committee—a committee that talks not only with faculty and students, but also with alumni, administrators and board members, before arriving at their decision.
“It was quite intense,” Kim says. “Some of our program alumni drove six hours to be here to show their support.”
The SOA recognition requires a multidimensional commitment toward actuarial academic excellence. Kim calls it a banner waving at prospective students, showing Towson’s dedication and giving the university a prestigious place in actuarial science and risk management. He also says it will make it easier for ACRM graduates to find jobs.
“At the beginning of this year, I set out for this to be one of the goals for the year and I couldn’t be happier that the program has been awarded this designation. This is a cornerstone of our program, setting the course for future years of continued excellence.”