Professor Shiu is Professor of Actuarial Science at the University of Iowa since 1992; he is a Collegiate Fellow of the College of Liberal Arts and Sciences. From 1976 to 1991, he was a professor of actuarial science at the University of Manitoba and a consultant for the Great-West Life Assurance Company, Winnipeg, Canada. He is an Honorary Editor for the journal Insurance: Mathematics and Economics and was a Co-Editor for the North American Actuarial Journal. His research papers have won four Halmstad Prizes. In 2017, the University of Lausanne, Switzerland, awarded him an honorary doctorate in actuarial science.