Actuarial Science Personal Statement Example 4

A risk can be defined as an action taken despite uncertainty. I believe there is an element of uncertainty in every decision we make. From decisions as trivial as having tea or coffee in the morning to those as important as deciding what course to study at university. Whilst we remain unable to determine the future, uncertainty and risk will continue to exist and continue to make our ability to make decisions difficult. The ability to quantify risk is a desirable one and something that makes the actuarial profession an attractive option for me. My main reason for wanting to study actuarial science is to prepare me for a career as an actuary. Having researched routes into the profession, it was clear that doing an actuarial science degree was the best route for me.

My interest in risk and uncertainty increased after reading Peter L. Bernstein’s ‘Against the Gods: The Remarkable Story of Risk’. This explained the history of the notion of risk and how it led to developments in mathematical probability. Mathematics has been an area of personal interest to me for a long time. I regularly read books and papers on an array of mathematical topics. I particularly enjoyed reading; ‘When Zombies Attack!: Mathematical Modelling of an Outbreak of Zombie Infection’, a paper by Canadian lecturers. This fun way of exploring mathematical modelling inspired me to research this further through an EPQ. My project was entitled: ‘Can the Economy Be Modelled as a Chaotic System’. As part of my research for this project I used a number of sources that explained Chaos Theory, the Butterfly Effect, the economic cycle and methods used for economic modelling and forecasting. This involved me exploring new mathematics in order to better understand how a chaotic system worked and analysing sources to find information and details relevant to my project. I read James Gleick’s book ‘Chaos: Making a New Science’, John Kemp’s paper ‘New Methods and understanding in Economic Dynamics’ and watched David Malone’s documentary, ‘High Anxieties: The Mathematics of Chaos’, as part of my research. These sources helped me come to the conclusion that while the economy can be modelled as a chaotic system it may not be very useful to do so.
Through my EPQ and my A-level studies I have developed good problem solving skills, close attention to detail and excellent analytical skills. These attributes are all necessary for success as an Actuary. Throughout Sixth-Form I have been able to develop a strong level of economic understanding as well as good level of mathematical and statistical ability which give me a stable starting point from which I can build the understanding and abilities necessary to succeed as an Actuarial Science student.

Outside of my studies I currently hold the rank of Leading Cadet with the Girls Venture Corps Air Cadets (GVCAC). Since becoming a GVC air cadet I have achieved a number of awards. Including my RAF Cosford marching medal which I received after completing a 50-mile march. While this was very challenging our determination as a squad enabled us to persevere and complete the task. I also took part in a week-long leadership programme sponsored by the RAF, where I worked with other cadets and students. During this week we worked with leadership coaches and RAF officers who took us through activities that required us to work as a team, show initiative by taking the lead ourselves, as well as work effectively under a specified leader by setting goals and working together to achieve them. Being an air cadet has helped build my confidence as a leader, and develop my focus and discipline, which will help me to become a successful undergraduate student on this course.

I am very excited about starting the next stage of my life and developing my knowledge, skills and personal qualities at university so I can have a fulfilling career as an actuary.