Certified Actuarial Analyst
This web page gives you details of the result of the member vote and details about the proposals for the new qualification and membership category.
On 17 June, voting opened to eligible members to decide on the changes to the Bye-laws that these proposals required. Voting closed at 12 noon on 15 July, a majority of 72.9% voted in favour: therefore the Motion is carried. For further details about the member vote and the breakdown of figures, please click here.
Next steps
The IFoA must now seek approval from the Privy Council to amend its Bye-laws, in line with our Royal Charter. If the Privy Council approves these amendments, detailed development work for the qualification will take place jointly between the IFoA Executive and volunteer members during 2013/2014.
What are the proposals?
The Certified Actuarial Analyst was designed as a result of a number of factors that have led the IFoA to believe that there is a strong need for the creation of a new membership category and associated qualification pathway. These considerations included an increase in the number of “back office” support role functions, an increase in the diversification of our membership, an understanding that the Fellowship qualification is not going to be relevant for all audiences, especially those in emerging markets such as Kenya, Ghana and India. The IFoA has also recognised that a number of talented A-level students are not wishing to continue their studies through to university despite wanting to work in the financial sector. For all of these reasons, the IFoA believes the Certified Actuarial Analyst will provide an important complement to our existing membership and qualification framework.
From 26 April to the 17 May the IFoA ran an information sharing exercise, to give all members the opportunity to find out more about this important proposal. During the information exchange, we opened an inbox for members to contact us directly and we ran a survey in which we invited members to share their thoughts and opinions. The results of this survey are detailed here.
If you have yet to find out about these proposals then please take the time to read the executive summary which will provide you with the key issues that the new qualification and membership category aim to overcome and to answer any questions that our members have posed during the exchange. You can find the executive summary here.
Contact us
We will keep members updated at key points in the development of the qualification, but if you have any queries in the meantime or would like to register your interest, please contact us at CAA@actuaries.org.uk.