Consortium Institutions

The consortium institutions were carefully selected according to their abilities to make a specific high-level contribution in the realization of the proposed IB Project. Particularly, EU consortium Universities are world-known centers of actuarial science and education. They present countries with well-developed insurance industry and strong but rather rational and flexible system of actuaries training and certification. It is worth mentioning that Scandinavian scientists, first of all Swedish ones, were the founders of actuarial science and first department in Actuarial Mathematics was organized in Stockholm University. All contact persons from EU universities are well-known specialists in Actuarial Science, authors of fundamental monographs and basic textbooks. The specific role of each organization is underlined below.

Kyiv National Taras Shevchenko University is a leading higher  educational institution in Ukraine. Traditionally it is a base of last educational innovations and its teaching and training experience is used intensively by other Ukrainian Universities. It consists of 14 faculties and 5 institutes, where studies more than 20000 students. The teaching mission is carried out by 1840 lecturers, among which 24% – professors employed at 158 departments. The proposed IB Project will involve the Faculty of Mathematics, particularly, its Department of Probability Theory and Mathematical Statistics. The Faculty of Mathematics has about 900 students, 150 teachers and researches with University and science degrees. The Department of Probability and Statistics has experience in carrying out training programme in actuarial mathematics and related topics. It is the proper base for organization the mentioned training courses because its teachers are highly skilled in relevant subjects and have high general level of educational standards. As a result of carrying out JEP-10353 and NP-22012-2001 Mathematical Faculty became a national center of best practice and know-how in Actuarial and Financial disciplines, in particular as the initiator of national university network  “Economic-statistical Education in Ukraine”. During last 5 years its teachers were retrained in various Scandinavian Universities and accumulated a good experience in teaching economic-statistical disciplines according to standards and methods of EU countries. They also gained the experience in carrying out dissemination actions, organization short intensive courses, establishing links with wide educational community and business environment, management of international projects. All teachers know English and some other EU languages, have skills in using PC and modern information technologies. Existing equipment base (PC-classes, relevant software, multi-media equipments, access to Internet) as well as library with books, periodicals and teaching materials, in particular with good sample of books in financial and actuarial mathematics, is a good starting point for training courses and development and creating a center for actuaries and financial analysts on the base of the Mathematical Faculty. Organization of training courses on the base of Kyiv University has additional advantages due to possibility to invite leading lecturers, for instance, in Law and Economics from other University faculties. Kyiv National Taras Shevchenko University will take responsibility for the creation of infrastructure and management of the proposed training center, development of educational programmes, teaching materials and courses, realization of training and examination of trainees, and will participate in the development of concepts and qualification requirements as well as recruiting and dissemination activities realizing in the frame of the proposed project.

State Commission for Regulation of the Financial Services Markets is a governmental institution, which, according to “Law of Insurance”, is responsible for qualification demands and certification of specialists eligible to fulfil actuarial calculation. These tasks correspond to the project objective and can be carried out properly in cooperation with higher educational institutions. Good links between Statefinservices, Society of Actuaries of Ukraine, and Kyiv University have been already established in 2004 during the discussions the conception and programme of actuaries(re)training. Statefinservices will participates in development of qualification requirements to actuaries profession, conception of actuaries training/retraining, programme of training courses and scheme of examination. It will play a key role in quality control and monitoring of training process as well as in recruiting trainees and dissemination activities.

Society of Actuaries of Ukraine (SAU) is non-profit, professional association of practitioners in insurance industry, non-academic experts in insurance, and specialists in actuarial science. This society aimed to implement the methods of actuarial and financial mathematics in insurance business, activity of pension funds, investment and bank segments of economics in Ukraine; to create and implement the curricula and syllabuses of professional training and retraining of actuaries in Ukraine. SAU involves practitioners from leading Ukrainian insurance companies. In the Tempus project, the experts from SAU will take part in preparation of actuarial educational programmes, courses and teaching materials, monitoring and quality control of the training process, and selection trainees.

Mälardalen University offers about 50 degree programmes and over 600 coursesin around 40 subjects. It has 10 Departments, where 950 academicians work and 15000 students study. Mälardalen University will serve as coordinator and grantholder institution of the proposed IB Project. It has been already involved in this role in the Tempus project NP-22012-2001 and it has solid experience in organization of international schools, short intensive courses in actuarial mathematics and risk theory, training/re-training UKR teachers and Ph.D. Students. Analytical Finance Group (Department of Mathematics and Physics and School of Economics) realizes an internationally oriented (English teaching) Master programmes “Analytic Finance” and postgraduate educational and research programmes in this area. These programmes are supported by active co-operation with financial and insurance industries. Professor Dmitrii Silvestrov, who is a leader of the Analytical Finance Group, was a coordinator of TEMPUS projects JEP-10353 and NP-22012-2001 and he is supposed to be a coordinator of the proposed IB project.

Stockholm University consists of about 80 Departments and Centers, where about 2000 academicians work and 35000 students study. Its Department of Mathematics is a world known center with long-term traditions in training specialists in actuarial mathematics and insurance business, and has strong links with Swedish insurance companies, pension funds and experience of participation in previous TEMPUS projects JEP-10353 and NP-22012. It will provide all necessary information about the system of actuaries training and certification in Sweden and other Scandinavian countries, assist in preparation and expertise of Ukrainian actuaries training and certification scheme, provide support in preparation curricula/courses and relevant teaching materials for actuarial training courses, help in retraining UKR lecturers and assist in establishing contacts with Swedish insurance companies and pension funds.

Catholic University of Leuven carries out education and research both fundamental and applied in all academic disciplines, promoting the exchange of knowledge and expertise on an international level. It consists of 14 faculties, 50 departments, at about 240 sub-departments, where works about 1370 professors and studies 28057 students (3005 international students). The University has solid experience in carrying out of international projects, it participated in 3 Tempus-CARDS, 3 Tempus-Tacis programmes. Its Statistics Center (involved in project) provides training and research in area of data analysis, stochastic modeling and insurance mathematics. Within Project, it will focus on expertise of concept, qualification requirements and training programs (on their correspondence to EU standards), provide all necessary support in preparation curricula/ courses and relevant teaching materials for training courses, help in re-training UKR lectures, take part in quality control of the training process and training materials, assist in establishing contacts of Ukrainian partners with various European institutions as well as in organizing dissemination activities.

University of Aegean consists of 5 Schools, 17 Departments, where about 10000 students study. Teaching staff consists of more than 500 professors and lecturers. Its Department of Statistics and Actuarial Science carries out an extended education and research programme in actuarial science, as well as intensive dissemination activity, particularly, organize biannual International Conferences in Actuarial Science and Finance. The character feature of this University is its location on several Aegean islands, and thus, well developed system of distance education. In proposed project, the University  will focus on transfer to Ukraine the experience in organization distance training and creation Internet based courses; also it will support in preparation courses and relevant teaching materials for training courses in actuarial science, help in re-training UKR lecturers in distance methods of education, provide expert advices in the development of training programmes, take part in quality control and in dissemination activities.

University of Cologne has seven faculties, about 200 institutes and departments with about 63000 students. It occupies a leading position in many areas of research. Actuarial mathematics is taught as part of an education in Mathematical Economy at the Mathematical Institute through the Group of Actuarial Mathematics. There are tight connections to Insurance companies via a department of Actuarial Sciences, a joint institution supported by the Faculty of Economics, Faculty of Law and the Faculty of Mathematics and Natural Sciences. Cologne University will focus on necessary support in preparation curricula/courses and relevant teaching materials for training courses in actuarial science and risk management, help in re-training UKR lectures, it also will provide expert advices in the development of concepts, qualification requirements and training programmes, structure of Training Center, take part in expertise of created training materials.