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Statistics and Actuarial Science Club

Mission: The Statistics and Actuarial Science club offers a platform for students:

    • to learn about careers related to being an Actuary, Statistical/Data Analyst, Financial Planner/Analyst, Accountants, etc. and to seek corresponding intern opportunities in each field
    • to learn about how Mathematics, Statistics, and Finance knowledge can be used in real life situations.
    • to share and discuss experiences related to professional exam preparation, career preparation, intern opportunities and others

Activities:

    • In the first meeting of each month, the club will invite speakers from (but not limited to) the following fields to share about their careers and how students can effectively prepare to be: 
          • Actuaries
          • Statistical Analysts
          • Certified Financial Analysts (CFA)
          • Certified Public Accountants (CPA)
          • Recent graduates
    • In the second meeting of each month, the club will focus on actuarial science exam preparations.  During these meetings, students will share and discuss problem-solving strategies, resources available for professional exams (Exam P or Exam FM), etc.

Club officers: 

    • President: Ian Haberle
    • Vice President: Jiao Xu
    • Treasurer: Julian Garcia
    • Secretary: Ashley Groves

Students who have passed Actuarial Exams:

  • Exam P/1: ​ Bradley Mayer '15, Michael Pol '15
  • Exam FM/2: Bradley Mayer '15, Ian Haberle

For more information, contact faculty advisor Dr. Ju Zhou.


2016-2017 Activities: 

  • Thursday, March 9 at 3:00 pm in Lytle 214

Dr. Donald Richard (Penn State University Department of Statistics) will tell us about "Statistical Properties of the Risk-Transfer Formula in the Affordable Care Act.

The Affordable Care Act of 2010 led to the creation of competitive insurance plans which provide universal health-insurance coverage without regard to pre-existing medical conditions. To assist insurers during a transitional period the Act introduced a ''risk-transfer formula," which requires insurance plans with healthier enrollees to transfer funds to plans with sicker enrollees, thereby discouraging any tendency for insurers to favor healthier enrollees. However, it has been noticed that risk-transfer amounts have been more volatile for smaller insurance plans than for larger plans, a phenomenon which led to insolvency for some smaller plans.  

In this talk, we treat the risk-transfer amounts as random variables. By analyzing the variances of these amounts, we will obtain a theoretical explanation for the observed phenomenon that risk-transfer amounts were more volatile for insurers with smaller market shares. Further, we will provide examples for which the phenomenon holds.

  • Monday, November 14 at 11:00 am in Lytle 136

Our speaker is Ms Lara Coviello, an Executive Director on the Fund Strategy Team at Franklin Square, will discuss how they use statistics at their company and FS Investments, and then share possible career options. 

Ms. Laura CovielloMs. Coviello serves as a portfolio specialist and subject matter expert to educate advisors and investors about Franklin Square's current offerings. She brings over nine years of experience in investment research and portfolio management.

Prior to joining Franklin Square, Ms. Coviello founded her own investment advisory firm, Auctus Wealth Management, where as lead portfolio manager she specialized in tailoring clients' investments to their financial goals. Ms. Coviello began her financial services career at Linden Asset Management and Linden Growth Partners LP, an RIA and pre-IPO evergreen fund, performing risk assessment, market analysis and research on public and privately held companies. Ms. Coviello also spent two years as a statistician in the pharmaceutical industry.

Ms. Coviello received her MA in Statistics from Columbia University and her BS from Penn State University. She also completed the Private Equity and Venture Capital Executive Education course at Harvard Business School. Ms. Coviello holds the Chartered Financial Analyst designation and is a member of the CFA Institute, the CFA Society of Philadelphia and the American Statistical Association.

  • Tuesday, September 20 at 11:00 am in Lytle 228  

Statistics and Actuarial Science Club President, Ian Haberle, will be speaking about his path to becoming an actuary and how other students can maximize their education at Kutztown University.

Topics to be covered:  

            • Overview of an actuary
            • Professional requirements
            • Kutztown resources
            • Other resources
            • Creating your own path  

Ian Haberle is a senior at Kutztown University and is actively training to become an actuary. During the summer, he passed Exam FM/2 and is currently studying for Exam P/1. His business management major is complemented by mathematics, economics, and actuarial science minors, which all have relevant coursework. He organized a path which utilizes all that Kutztown has to offer and wants to help other students do the same.