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Learning Change Programme

Empowering you in a rapidly changing professional environment

Repositioning the actuarial profession

As the actuarial profession evolves to meet the challenges of an uncertain, rapidly changing world, the IFoA has a central role to play in helping you develop the skills, competencies and mind set that are necessary in an agile, evolving profession for you to enjoy successful, and sustainable careers.

As a major global provider of actuarial learning it is essential our learning resources support your individual needs and aspirations through all stages of your career and equip you to meet the challenges of an uncertain, complex future.

A high level review of our learning offering was conducted during 2020 to ensure that our holistic offer puts your future needs at its heart, is fit for purpose in a reinvented profession, and is relevant, modern and appropriately flexible. The review drew on the expertise and experience of IFoA members, as well as independent experts on contemporary professional learning. It identified a need for a shift in our learning culture, centred on refreshed and continually evolving content with global relevance, drawing on the highest quality provision, delivered and assessed by the most contemporary approaches.

The Learning Change Programme

We are excited to announce that a Learning Change Programme has been commissioned to modernise, deepen and broaden our actuarial qualifications and lifelong learning offering, empowering members to succeed in emerging professional domains, keep pace with rapid changes in established areas of actuarial employment, and be equipped with the skills and mind set to adapt and lead within a wider and rapidly changing global professional environment.

This programme of change will introduce improvements and benefit for members at every stage of their career, from those studying for their first examination, to those in senior roles looking to refresh and expand their knowledge and skills.  This is in response to your feedback about professional learning and will address the challenges that have the greatest impact on your career, including:

  • opening up of new career domains
  • changes to established actuarial roles
  • employers having a clearer understanding of the role and value of actuaries
  • the need for more choice and personal ownership of the areas you study
  • continued quality of exams
  • greater confidence in our infrastructure to support online learning and accessible examinations.

All elements of the programme will support the ongoing internationalisation of our qualifications, to ensure they are relevant and more accessible to members wherever they are studying.

The change programme will focus on four key areas:

  • Pre-Associate curriculum
  • Pre-Fellowship subjects
  • Modern and digital methods of assessment
  • Lifelong learning

We encourage you to read the detail below on what will change and how we will engage with members, employers and other partners to ensure that the changes meet real needs and speak to your needs.

Your voice matters

The Learning Change Programme is here to deliver changes and wider learning culture to support you and your employers now and in the future in a rapidly changing actuarial employment landscape. Your feedback through our regular member and student surveys, Forums, events and meetings has been invaluable to identify the improvements that are most important to you.

We want you to continue to be involved. We will regularly update you on the Programme’s progress and share information resources through these web pages, The Actuary, Newsletters and email – please look out for opportunities to be get involved and help shape the future.  

If you have questions, suggestions, or require additional information, please contact LCP@actuaries.org.uk. We will use these questions to create a regularly updated set of Frequently Asked Questions where all members can benefit from your thoughts, suggestions and questions.  They will be shared on our Programme FAQ page.

Pre-Associate curriculum 

We are working with our individual subject review teams to formally review our pre-Associateship syllabus.  This will include reflection on feedback and learning from Curriculum 19 and assessment of the detailed technical content for relevance in an evolving profession. An oversight group will also shortly be established to look more broadly across the curriculum, including its structure and the specific demands of studying certain modules.

This work will be informed by a major piece of independent research to identify the future needs for the curriculum, beginning in April 2021. A wide range of stakeholders will be engaged to ensure that this represents the voice and needs of you and your employers, ranging from individual members and employers in established and new employment areas, to recruiters, accredited university partners, and other global actuarial associations.

The project work will also inform a new competency framework of skills and knowledge gained by completing our Associate qualification. This will provide employers and other interested parties with clear evidence of the competencies and capabilities of our Associate members.

We expect that the core of our pre-Associate curriculum content will remain broadly unchanged, but will be updated and enhanced to ensure subject areas, case studies and recommended reading are current and internationally relevant. Some new material will be introduced in emerging domains such as Data Science, Banking, Climate Risk and Sustainability.  This will ensure student members develop a broader contemporary knowledge-base, and skills which equip them to pursue opportunities in a wider range of emerging actuarial opportunities and roles.

Pre-Fellowship subjects

For those that wish to progress to Fellowship, we will develop a broader portfolio of learning with more individualised learning based on your professional interests and career aspirations.

We are engaging with our Practice Boards and Member Interest Groups to scope, plan and introduce new pre-Fellowship subjects, to support those considering moving into newer areas of actuarial employment.

For updates on pre-Fellowship subjects please visit our LCP News web page

Assessment

Following positive feedback from members and employers on our move to online examinations, we will further enhance our online examinations service. This will provide a more robust, technologically advanced, and forward-looking service with greater global accessibility; meeting the service expectations of our members while maintaining our examinations’ integrity and high standards. 

The first stage will be to procure and configure a new, on-screen examination delivery solution in order to offer a number of our current examinations via this new delivery system in September 2022. We will work closely with employers and student members to test this system’s suitability and user interface, as well as more general aspects of examinations processes. We will keep you informed on progress, and will provide detailed arrangements to those sitting examinations and the opportunity to test the new system well ahead of the go-live date.

In the longer term, we plan to introduce ‘Objective Based Testing’ for the early mathematical modules of our Associate qualification. This will support a move to more contemporary, high standard assessments, similar to those used by other regulated professional bodies. Objective based testing will also enable machine marking, with the potential to offer more flexible, on-demand style testing in the future.

We will be working closely with leading learning consultants, as well as IFoA subject matter specialists, to build IFoA examiner capacity and competencies in this area.  

Lifelong Learning 

Growing the portfolio of Lifelong Learning is central to the Learning Change Programme.

Our enhanced Lifelong Learning offer will complement and build on that provided by your employers, providing you with opportunities to refresh your knowledge and skills with continuous learning and self-reflection, building new competencies to support your career aspirations, and enable you to take greater ownership of your professional learning and development.

We have already taken the initial steps to expand our Lifelong Learning offer with the recent launch of our Banking and Sustainability lifelong learning microsites. Demand for certified Lifelong Learning opportunities remains strong, and we plan to build on the success of our Certificate in Data Science.

We will engage with members, employers, and others to scope the required breadth of the IFoA’s future Lifelong Learning offering. We will deliver new content in a range of formats, some co-developed with partners or sourced from relevant third-parties, as well as specific bespoke learning developed specifically by IFoA members.

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Start date
E.g., 18/06/2021
End date
E.g., 18/06/2021

Events calendar

  • Spaces available

    The General Insurance (GI) Spring Conference is a result of the General Insurance Lifelong Learning Committee (GILL) combining this year’s 'Current Issues in General Insurance' (CIGI) and 'Technical Issues in General Insurance' (TIGI) conferences into a virtual webinar series over 19 – 25 May that will be available to watch online globally.

  • CILA 2021

    Available to watch globally in May.
    19-21 May 2021
    Spaces available

    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.

  • Spaces available

    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

  • Spaces available

    Behavioural Science Webinar SeriesThe world is changing. The fourth industrial revolution, globalisation and the COVID-19 pandemic are up-ending traditional social and business norms around the world; changes that were once predictable and steady are now faster and more profound.

  • Spaces available

    Risk Management Webinar PrgrammeTools like python/R are being heavily used to provide end-to-end analytical solutions for risk management. They help to set up a framework/platform to collect risk data and work out stochastic analytics to provide insights into the risks faced by a firm, be it in any sector.

  • Spaces available

    The webinar will look at several aspects of intergenerational fairness and our panel of experts will challenge you, society, taxpayers and generations X, Y and Z on key aspects of DB v DC pensions, public v private sector pensions, state benefits and key aspects of sustainability.

  • Pensions Conference 2021

    Online webinar series
    16-22 June 2021
    Spaces available

    Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.

  • Spaces available

    Mathematical Futures: The Actuary in a World Transformed – Sir Adrian Smith will outline how advances in data science, machine learning and artificial intelligence in the world of big data will transform the nature of many industries, including financial services. The broader environment within which mathematics is applied will change rapidly, often led by innovative yet disruptive forces outside. These changes will undoubtedly have an impact on the work of actuaries - and the profession will need to adapt quickly to thrive.

     

  • Spaces available

    Given our commitment to the safety of our members and employees, and as the easing of restrictions in respect of COVID-19 cannot be guaranteed at this point in time, we have decided to hold our AGM virtually again this year.

    The Business of the AGM

  • Spaces available

    Join newly inaugurated IFoA President Dr. Louise Pryor as she explores what we need to do to keep abreast of the changing world – and how we can seize the resulting opportunities – in her Presidential Address, ‘A Learning Society’

  • Spaces available

    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

  • Spaces available

    The paper “Asset liability modelling in the quantum era” shall be presented by its authors, Tim Berry and James Sharpe, and chaired by Andrew Smith, Assistant Professor in the School of Mathematics and Statistics at University College Dublin.

  • Spaces available

    Risk Management Webinar ProgrammeInternal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible?  This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.