The actuarial profession continues to evolve, becoming more inclusive and integrated with, for example, finance, risk management, and economics. More and more actuaries are involved in "non-traditional" roles which benefit from actuarial skills and training. The education of future actuaries requires an understanding of, and responsiveness to, these expansions of scope, content, and context. This presentation provides an overview of the actuarial profession and suggests initiatives to be undertaken by a world-class university actuarial program. These initiatives also address the changing context or environment in which actuaries of the future will find themselves. Finally, specific research areas on the evolving frontier of actuarial science are discussed, including financial risk management, capital allocation, and stochastic processes.