Newsroom

Home  »  Newsroom  »  Drake News  »  Article

CBPA announces School of Actuarial Science

February 26, 2014

Building on its reputation as home to one of the top actuarial science programs in the nation, Drake University’s College of Business and Public Administration (CBPA) is introducing the School of Actuarial Science, which will be operative starting in August 2015.

The Drake University Board of Trustees approved the CBPA National Advisory Council’s (NAC) recommendation to create the School of Actuarial Science at a meeting in the fall. The board of trustees; President David Maxwell; Dean Charlie Edwards; and Rahul Parsa, professor of actuarial science and statistics, were in attendance when the recommendation was approved.

“The board supporting the recommendation to create the School of Actuarial Science shows the respect and appreciation that the trustees have for the long and proud tradition of the actuarial science program at Drake,” says Larry Zimpleman, BN'73, GR'79, chairman, president, and CEO of Principal Financial Group, and chairman of the Drake University Board of Trustees. “Being a School of Actuarial Science will allow Drake to continue to build on that legacy of success.”

Rahul Parsa, who presented the recommendation to the board along side Dean Edwards, will serve as director of the school.

“In my view, the school is an acknowledgement of the great students of past and present who have made this program one of the best in the country,” says Parsa. “This program deserves special recognition, and that’s what we’re doing.”

The School of Actuarial Science will continue to provide high-quality undergraduate-level preparation for students planning careers in the actuarial profession. Thousands of students have graduated from the program, continuing on to work across the globe as leaders in actuarial science.

The school’s faculty will continue to work on improving the already strong curriculum, ensuring that students are thoroughly grounded in the technical skills required for actuarial work and prepared to be business leaders in the financial services industry.

“The Drake actuarial science program has a long history of excellent faculty, curriculum, and students,” says Jim Noyce, BN’78, and chair of the new school's National Advisory Council (NAC). “With the recent significant growth, coupled with being named a Center of Actuarial Excellence, it was an easy decision for the CBPA NAC to recommend that we take the next step to transition the program into the new School of Actuarial Science."

Jim Wallace, BN’77; Drake University trustee; and CBPA NAC chair, agreed that this was a natural next step for the growing program.

“Establishing the School of Actuarial Science is further evidence of Drake’s leadership in this area of actuarial science,” says Wallace, president, chairman, and chief executive officer of GuideOne Insurance. “It also shows Drake’s deep commitment to building on this area of strength. The program is in for even brighter days ahead.”