By Radzuan Ghazali
Pix Ikhwan Hashim

KUALA LUMPUR, 23 November 2015  – Four actuarial science final year students from The National University of Malaysia (UKM) will be selected for an internship programme by AmGeneral Insurance.

Upon completion of the final year, successful candidates from UKM’s School of Mathematics Sciences of the Faculty of Science and Technololy (FST) will be sponsored to undergo the Financial Sector Talent Enrichment Programme with Bank Negara and a full-time internship and employment with AmGeneral Insurance.

A memorandum of understanding (MoU) for the programme was signed by UKM Vice-Chancellor Prof Datuk Dr Noor Azlan Ghazali and AmBank Group Chairman Tan Sri Azman Hashim.

The Dean of FST Prof Dr Sahrim Ahmad and AmGeneral Insurance Chief Executive Officer Derek Roberts acted as witnesses.

Speaking after the signing Azman said there is actually a shortage of actuaries that would impede growth of the industry.

“There needs to be more cooperation between the private sector and universities to prepare actuarial students for professional career in the financial services industry.

“However, there is great room for growth, but for this growth to be realised, we need the support of talent sources,” Azman explained.

Both the public and private sectors should work closely to turn the situation around going forward, he told reporters.

Azman said with rapid growth in the financial services industry, there is rising demand for actuarial skills, a must-have function in life, general and reinsurance.

Meanwhile, Prof Datuk Noor Azlan in his speech said that this MoU is the basis for the shared objectives of training, education and research for students.

According to him, UKM was among the first in Malaysia that offered a degree in Actuarial Science recognized by the Society of Actuaries (SOA), in the United States that meets the academic syllabus of the  Actuarial Science programme.

“UKM is proud to work with  AmGeneral and AmBank Group to develop talents in the FST through disclosure and financial support,” he remarked.

He added that cooperation between the two parties should be extended to  other fields.