Introduction

The CPD Committee of the Faculty and Institute of Actuaries would like to thank you very much for agreeing to be the CPD Co-ordinator on behalf of your company. This handbook has been prepared to assist you in your task as CPD Co-ordinator.

In common with most other professions, the actuarial profession has agreed standards of CPD which qualified actuaries should meet in order to demonstrate that they are keeping their knowledge up to date. These are set out in the Members' Handbook and also in the CPD Handbook.

Continuing Professional Development (CPD) is formally defined by the profession as the maintenance, improvement and broadening of knowledge and skill and the development of the personal and professional qualities needed throughout an actuary's working life.

Role of a CPD Co-ordinator

A CPD Co-ordinator is required in offices where there are at least three qualified actuaries. The main role of the CPD Co-ordinator should be to act as a link on CPD issues between the management, individual actuaries and the human resources function within a company and with the profession. Co-ordinators aim to raise awareness of the actuarial profession's CPD requirements and to encourage and assist actuaries to undertake CPD.

Who is the CPD Co-ordinator?

As the CPD Co-ordinator, you might be a junior or senior actuary or a member of the human resources function. In some companies a variety of people might undertake some of these responsibilities. However, it is the role of the CPD Co-ordinator to ensure that as many of these different activities are undertaken as is appropriate for that company. In multi-site companies they might be undertaken by different individuals on each site. The Faculty and Institute would prefer one nomination per company for communication purposes. This name should be updated whenever a change is made.

The Faculty and Institute keep a database of CPD Co-ordinators and keep in regular contact with them. We hold meetings of CPD Co-ordinators every eighteen months to two years. In addition to this, if there are any CPD issues which you would like to discuss with us, or with which you need help, please see the Useful Contacts list below.

Functions of CPD Co-ordinator

The following possible functions might be undertaken by the CPD Co-ordinator within a company:

• Encourage actuaries to undertake CPD.
• Tell new actuaries about CPD and ensure that actuaries and managers are aware of the CPD requirements.
• Help actuaries to plan and record their CPD programme, encompassing needs in technical skills, business and management skills and professionalism.
• Monitor CPD undertaken.
• Organise in-house meetings for Formal CPD.
• Publicise CPD events (internal and external).
• Consult actuaries on CPD matters on behalf of the professional body.
• Co-ordination of practising certificates.
• Provide feedback to the professional body on all aspects of CPD.
• Liaise with other local CPD Co-ordinators and regional societies on CPD provision.
• Update the professional body with any change of CPD Co-ordinator.
• Attend regular meetings of CPD Co-ordinators to share ideas.

The range and extent of these functions will vary depending on the following factors:

• Size of company.
• Type of company.
• Ethos of company in terms of general approach on training and development.
• Location of company.
• One site or multi-site.
• Numbers of actuaries.
• Numbers of actuaries for whom CPD is mandatory (see below).

CPD for actuaries with Practising Certificates

CPD is mandatory for the following categories of actuaries:

• Appointed actuary of a life company or friendly society
• Pension Scheme actuary
• Actuaries authorised to give investment advice under the SIB regulations
• Actuaries signing off Lloyds' opinions

Compliance with the rules for CPD for actuaries in these categories is monitored by the staff with responsibility for the issue of certificates. Advice may be obtained from them at Maclaurin House, Edinburgh.

Conclusion

We hope that during your time as CPD Co-ordinator you will be able to establish good CPD links between your company and the professional body. Please keep in contact and remember to tell us when there is a change of CPD Co-ordinator

Useful contacts