FMIPA / READI: FMIPA IPB and University of Waterloo Develop Actuarial

READI: FMIPA IPB and University of Waterloo Develop Actuarial

BOGOR (20/7) – Actuary in the Faculty of Mathematics and Natural Sciences (FMIPA) is a relatively new study program, but it does not necessarily lack of competitiveness with other well-established study programs. The founding of Actuary study program is FMIPA’s attempt to answer the challenge in meeting the number of highly educated actuaries capable of managing risks in various aspects of social and economic life in Indonesia.

In its development, the Faculty of Mathematics and Natural Sciences (FMIPA) together with the Mathematics Department as the Actuary study program partner, with the University of Waterloo, Canada to sustain the provision of quality higher education, and to support human resources development and improvement in actuarial field in Indonesia. On Thursday (20/7) 2017, Dr. Sri Nurdiati, M.Sc., as the Dean of FMIPA IPB and Field Director, William Duggan, witnessed by Mawardi Muhammad as Program Officer – Scholarship & Applied Research, Vice Dean for Resources, Collaboration, and Development: Dr. Hamim, M.Sc., Head of Mathematics Department: Dr. Toni Bakhtiar and his teaching staff: Dr. Ir. Endar H. Nugrahani, MS. and Dr. Ir. I Gusti Putu Purnaba, DEA, signed the MoA (Memorandum of Agreement) as a good faith to establish cooperation in a project called:

Risk Management, Economic Sustainability and Actuarial Science Development in Indonesia (READI).

Risk Management, Economic Sustainability and Actuarial Science Development in Indonesia or the READI project aim to increase the quantity and quality of actuary science graduates to meet the highly demand for actuaries in Indonesia. READI, implemented by the University of Waterloo, Canada, is organized with financial support from the Government of Canada, granted through Global Affairs Canada. Working closely with the Government of Indonesia, the insurance industry and major university partners, the READI project aims to develop Indonesia as a center of excellence in actuarial science. The project seeks to complement the 1000 Actuaries of Financial Services Authority (OJK) program by providing opportunities and support for gender equality in science education, certification and professional development of high quality actuaries.

The development of actuarial science environment in Indonesia continues to face some major challenges. These include: (1) lack of a highly educated actuary to work in government agencies and insurance, pension and financial management sectors; (2) the number of inadequate formal actuarial science programs at universities in Indonesia; (3) lack of qualified actuary science lecturers; (4) limited opportunities for actuary science students to gain practical and practical experience while studying; (5) the limited resources and capacity of the Indonesian Actuary Association to provide the level of service required to facilitate the rapid development of the actuarial science sector; And (6) low public awareness of actuarial science and related career opportunities.

The establishment of cooperation between FMIPA IPB and Waterloo University in READI Project which has orientation to develop education, human resources and actuary knowledge is a manifestation of FMIPA IPB commitment in improving science in actuarial area.