Proposed Certified Actuarial Analyst
The Institute and Faculty of Actuaries is proposing a new membership category and associated qualification aimed at support or technical roles: the Certified Actuarial Analyst.
It was developed in response to market needs and an increasing growth in international membership. It would help us to achieve the objectives set out in our Royal Charter by bringing those undertaking actuarial work into a sound regulatory framework. This is important as actuaries work in the duty of public interest. It will give a professional qualification to those who are interested in working in the financial sector but do not want to take the full actuarial qualification.
The aim of the actuarial education strategy is to equip the actuaries of the future with the skills they will need for their employers and clients. All exam subjects can be taken by well-established distance learning methods, but we also make use of university-based education. This provides flexibility in structuring courses, and means an increased choice of tuition provision for students both before and after they enter the profession.
The entry standards for student membership are set out in the admission regulations on the right.
Students can become Associate members of the Institute and Faculty of Actuaries and gain the right to describe themselves as an actuary and to use the letters AIA or AFA.
As an actuary and an Associate of the Institute and Faculty of Actuaries, members have a breadth of expertise that brings wide and varied opportunities.
Members of the profession who wish to continue their studies to an advanced level, or who specialise in a particular actuarial field, may take further specialist exams to qualify as a Fellow. Fellows use the letters FIA or FFA and are highly sought after as experts in their chosen field.
The Council may also recommend a person who is eminent or experienced in matters relative to the profession, for election as an Honorary Fellow.
Chartered Enterprise Risk Actuary
CERA, or the Chartered Enterprise Risk Actuary qualification, is a global risk management qualification which the UK Actuarial Profession is accredited to award to members who meet certain criteria. It is one of the most comprehensive and rigorous enterprise risk management qualifications available. It aims to address the urgent need for highly-qualified risk management professionals worldwide, especially in the financial sector.