Developed by the Institute of Financial Studies and Bucharest Academy of Economic Studies, the master program of ACTUARIAL TECHNIQUES (TACT) returns to the curricula developed in 2005 with 2 degrees: RISK MANAGEMENT and ACTUARIAL TECHNIQUES being organized in 6 series.


The program was based on a Public-Private Partnership, it follows the close relationship between risk management, actuarial calculations and financial markets. The program combines practical approaches with theoretical sessions, providing an important, complex background needed to succeed in a competitive business environment.


Following the conditions of prudential supervision systems implementation at national and international level, risk management is a key element for all sectors of activity, bringing together the activity of actuaries and risk managers. Risk control through identification and quantification cannot be possible without the help of based specialists such as actuaries and risk managers.


This is the scope of the master program we propose – we offer you the opportunity to quantify, control and financing the risk by combining insurance policies with hedging strategies and modern techniques such as TRA (Alternative Risk Transfer).



The program addresses both those who intend to achieve executive positions (by increasing the quality of top management support), but also to those who are already in leadership positions (by developing technical and commercial skills).


The Actuarial Techniques program is useful for those intending to enter the actuarial field or those who intend to develop their math skills. The areas in which you can activate are: insurance industry, banks, pension funds, financial consultancy, public institutions, etc.


The program was externally evaluated and accredited by ARACIS – the Romanian Agency for Quality Assurance in Higher Education, under the form of MRACT, with 2 specializations in risk management or actuarial techniques in 2008. The master program under the name of ACTUARIAL TECHNIQUE returns to the form known between 2005-2008, being reaccredited under this name in June 2013 by the same supervisory institution – ARACIS. 


In 2019, the master program obtained a positive opinion for the accreditation application to the Institute and Faculty of Actuaries (IFoA) from UK. Therefore, three of the core business curricula of IFoA are to be exempted by the students of TACT program : CB1, CB2, CM1.

ISF and ASE: AN educational partnership

The Master of Actuarial Techniques is a form of impressive partnership between academic and business environment, between a classical training form and a professional, modern training form. 

ASE Bucharest is the most important economic university in Romania, and ISF is one of the main providers of training programs on the financial services market in Romania, with international educational partnerships (USA, UK).


Expertise – you will work with academics known on the Romanian market and with practitioners from financial services market who will present to the participants the latest developments in their fields.


Recognition – the graduation of this program complies with the educational requirements of the professional association in the Romanian market and the authority in the field of private insurance and pensions – ASF (Financial Supervision Authority)



Flexible – The lectures are scheduled in the afternoon, between 18.00 and 21.00 and from time to time on weekends. The schedule allows participants to continue their studies without compromising their careers or abandoning other obligations.

Accessible – The program is accessible to graduates of mathematical, financial, economic studies working in the field or intending to access the field.



Feasible – an affordable and shorter lenght of  specialization in actuarial sciens as compared to international variantions.

WHo is part of the professional bODY?

The program is supported by professors within specialized universities: ASE Bucharest (departments of Finance, Banks, Applied Mathematics, Law, Economics and Economic Policies, Cybernetics and Economic Informatics), Ovidius University of Constanta, University of Bucharest, etc.

In addition to the lecturers enshrined on the Romanian market, the professional body of the Master includes Institute of Financial Studies, specialists from the Financial Supervision Authority, bank specialists, actuaries, risk managers, legal services managers, members of the Romanian Actuarial Association to support the practical tutorials needed to increase the applicability of the courses.