The Department of Statistics and Actuarial - Financial Mathematics was founded in 2000 (Presidential Enactment (P.E.) 83/2000) and operated as an autonomous Department of the School of Sciences of the University of the Aegean until the academic year 2012-2013. Under the P.E. 93/2013 (Article of the Newspaper of the Government (ANG) 131/τ.Α’/05.06.2013), it was merged with the Department of Mathematics and formed the track S.A.F.M of the Department of Mathematics. Under the law 4485/04.08.2017 (ANG 117/τ.Α’/04.08.2017) the Department will operate anew as an autonomous Department starting from the academic year 2018-2019 on 01/09/2018.
The Department of Statistics and Actuarial - Financial Mathematics aims at providing various skills and at developing advanced research in the areas of Statistics and Actuarial Science. The educational program of the Department aspires to produce professionals, who will be able to use sophisticated mathematical, probabilistic, statistical and computational methods in order to estimate risks and to propose efficient insurance, statistical and financial plans.
The graduates will be able to suggest optimal investment strategies. They will have the necessary background that will enable them to analyze data from health, insurance, demography, industry. They can be employed in various positions in public enterprises, ministries, banks, hospitals, insurance-finance companies, oil companies, telecommunications companies, informatics companies, advertising companies, universities, research institutes.
» The profession of a Statistician
A statistician can be employed under very favorable prospects in the public and private sector. In the private sector there are many well-paid positions for statisticians particularly in banks, market research companies, insurance companies, telecommunication business, oil and advertisement companies. The role of the statistician in these companies is highly significant and their consulting is extremely useful. In the public sector there are Statistics Departments in ministries and public organizations, where statisticians analyze data using statistical packages, reaching useful conclusions.
Furthermore, a Statistics graduate with an emphasis in biostatistics can be employed in the pharmaceutical industry or in hospitals. Statisticians working in hospitals and health authorities are involved in the design and analysis of clinical studies, in monitoring mortality and in health care provision. It is emphasized that statistical inference is crucial in health and medicine where there is a shortage of biostatisticians.
In academic Institutions (Universities, Polytechnics, Research Institutions), a Statistics graduate can apply for an advanced research degree. She/He can work on a theoretical or an applied topic in Statistics.
Many statisticians participate in various research programs that are supported financially by the European Union.
» The profession of an Actuary
An actuary is a professional who estimates financial risks. She/He uses Mathematics, Probability theory, Statistics and Economics to study uncertain events in the future, especially those concerned with insurance and pension programs. Furthermore, she/he is able to propose investment policies and to design insurance or financial programs. Moreover, she/he analyses the necessary data in order to estimate the probability of an accident, an illness, a death or a physical disaster. Finally, she/he is able to predict the profits or losses of an enterprise. An actuary can be better regarded as a "businessman" with a mathematical background rather than a "pure" mathematician.
» The profession of a Financial Consultant
A financial consultant provides advice to her clients with regard to their financial planning or to the management of their financial assets so that they can realize their financial goals. The clientele of a financial consultant ranges from individuals to small and medium enterprises, large corporations, non governmental organizations or even to governments (that may need for example the restructuring of their debt or the privatization of public companies or the financing of large scale projects).
It is therefore obvious that there is a wide range of projects that a financial consultant may deal with, like for example investments, risk management, IPOs, debt issues, mergers and acquisitions, restructuring projects etc. A financial consultant may work either as an independent consultant or as a team member of a consulting company or a financial organization.
Apart from a good educational background, a financial consultant needs to keep up to date with new financial products, methods and trends, have good analytical, problem solving, organizational and communication skills, creative thinking, business mindness, team and cooperative spirit and the ability to inspire confidence and trust.