July 13, 2009 | Karen A. Grava

Actuarial Science Center Named for Donors

UConn's actuarial science research center has been renamed, thanks to a $1 million gift.

A center for research in actuarial science at UConn has been renamed the Janet and Mark L. Goldenson Research Center, thanks to a $1 million gift.

The center provides opportunities for actuarial students and faculty to work closely with financial services companies in the Hartford area to conduct applied research on issues in actuarial science and risk management and real-world problems facing the insurance and financial services industries.

It is part of the Actuarial Science Program in the College of Liberal Arts and Sciences.

“Our actuarial science program, already recognized as one of the best in the Northeast, will be highly attractive to top students because of this opportunity to work on the types of projects they will face on the job,” said Jeremy Teitelbaum, dean of the College of Liberal Arts and Sciences.

Mark and Janet Goldenson are recognized during a June 17 event to announce the naming of the Goldenson Research Center in Actuarial Science at the Graduate Business Learning Center in Hartford. In the background is Dean Jeremy Teitelbaum. Photo by Peter Morenus
Mark and Janet Goldenson are recognized during a June 17 event to announce the naming of the Goldenson Research Center in Actuarial Science at the Graduate Business Learning Center in Hartford. In the background is Dean Jeremy Teitelbaum. Photo by Peter Morenus

The Goldensons, residents of Ventura, Calif., gave a gift of $1 million to the University through the UConn Foundation. Mr. Goldenson is a certified public accountant.

Jay Vadiveloo, the Watson Wyatt professor-in-residence in actuarial science, will direct the newly named center. He is the brother of Mrs. Goldenson. Vadiveloo has taught graduate actuarial studies at UConn for 20 years.

Advisory board members for the Goldenson Center include chief actuaries and executives from 14 financial services companies in the Hartford area and in Massachusetts.

Among the projects already underway are an older-age mortality study funded by the life settlements industry and a Ph.D. research project to develop a management tool for variable annuities with guaranteed options. The Goldenson Center also is working with the Science & Islamic University (USIM) of Malaysia to establish a similar center of excellence in actuarial research there.

UConn’s Actuarial Science Program was established in 1976 and has evolved from an undergraduate specialty in mathematics to an interdisciplinary program that offers bachelor’s, master’s, and doctoral degrees, and an associated Professional Master’s Degree program in applied mathematics.

Students in the program often pass multiple professional certification examinations before they graduate. The program’s graduates are employed throughout the financial services industry in Connecticut and the Northeast.