Shay McCarthy is named the new Director of Actuarial Science – The Etownian

Actuarial Science is a bachelor’s program Elizabethtown College offers that not many other colleges in the area do; perhaps that is because of the complexity of the field. Those who major and eventually get hired in actuarial sciences calculate and control risk surrounding industries like insurance and finance using financial mathematics and mathematical statistics. Etown has traditionally offered six preliminary exams: financial mathematics, probability, investment and financial markets, long-term actuarial mathematics, statistics for risk modeling and short-term actuarial mathematics. The new director of actuarial science at Etown intends to expand this selection to include the full range of Fellowship Subjects required to qualify as a fellow of the Society of Actuaries in Enterprise Risk Management and Investments.

Professor Shay McCarthy has worked as an actuary around the globe for two decades in investments and banking, risk, life, general insurance, pensions and health insurance. A key feature of the work McCarthy has performed on a regular basis is in respect of identifying the key risks faced by global corporations and social organizations including national health systems and presenting and implementing solutions to these risks on a systemic scale.

One part of her education and experience that especially aids in her understanding of people is her work in forensic psychology. This field enables her to understand why people do what they do and why they say what they say and hence to identify the issues at the root of the problem. This is imperative in negotiations and arbitrations with larger groups, where one must understand people and what is driving their different behaviors and decision-making processes

In addition,McCarthy’s international experience aids her greatly. While the field differs from place to place based on the products and governance processes. Working globally in London at the Financial Centre of the Worlds, she has gained a lot of experience in respect of a vast range of financial systems and products, people from different cultures and the standards and regulatory requirements of different countries. Her perspective and understanding of global practical experience brings a lot to the table based on what she has seen and can provide. She can apply her real-world experience to the classroom and understands the practical significance of what she is teaching. This enables her to impart the subject material to her students in a way they can grasp, retain and apply to a high standard.

In the classroom, McCarthy has a hands-on teaching style, and she makes sure that no one is left behind. Her motto is that a happy student is a successful student, and she teaches via practical explanations and practices from different angles to ensure that the students have a sound and robust understanding of the key concepts. She “wants to develop young people of sound moral character and who will bring about required change and be a light as leaders in our society and to equip them with the skills they need to such end. She believes that “today’s world is only as good as the leaders of today’s world.” That is why she chose to teach at Etown; she believes that the students there have the moral character to be leaders who will stand and who will make a difference.

McCarthy wishes to promote her Actuaries in Training and to encourage those who have given up to strongly consider rejoining the actuarial science program. First-year actuarial science major John Harrison is also the chief communications and exams officer of the newly formed Actuarial Club. He enjoys actuarial science and is excited to continue working through it because “Everything has a method, and everything has a specific way that it needs to be done so there is no guesswork in math. When calculating figures such as present values and life probabilities, you know that there is a structured, efficient way to get what you are looking for.”

Based on the changes coming in the program and the many opportunities that come to people who can become actuaries, there has never been a better time to be studying actuarial sciences at Etown.

Leave a Comment