What is the IFoA Learning Change Programme?
25 March 2021
The IFoA’s Learning Change Programme consists of a series of interconnected projects that will deliver improvements in our learning provision for members at every stage of their career.
It is the first step in modernising and broadening our qualifications and lifelong learning. It will empower members to succeed in emerging professional domains, keep pace in established areas of actuarial employment, and equip members with the skills and mind set to adapt to a rapidly changing professional environment.
It will improve learning provision to members at every stage in their careers, from students sitting their first examination, to those in senior roles refreshing their knowledge and skills.
The Programme will deliver improvements through projects focused on our pre-Associate learning, pre-Fellowship study, modern and digital methods of assessment, and an enhanced Lifelong learning offering.
The Programme will also improve the way we deliver our assessments, delivering a more robust, technologically advanced, and forward-looking service and ensure our learning offer evolves with the professions’ needs.
What will this mean for the IFoA’s qualifications?
25 March 2021
We will review the pre-Associate curriculum to ensure subject areas, case studies and recommended reading are current and internationally relevant.
We will also be undertaking independent research to identify the future needs for the curriculum and developing a new competency framework.
We will be developing an enhanced portfolio of learning for pre-Fellowship study, drawing on member-led work in a number of new actuarial areas, with the first new subjects in Banking announced this month.
Will examinations continue to be online?
09 June 2021
To deliver a high quality, globally accessible service that meets the expectations of our members while maintaining our examinations’ integrity and high standards, we will be taking a digital first approach to IFoA examinations in the future.
A new online examination delivery solution will be implemented, with a phased move of current examinations to the new examination delivery solution from April 2023.
What are the plans for enhancing examination delivery?
09 June 2021
We will be procuring a new on-screen examination delivery solution to deliver a more advanced, robust service with an improved member experience. Initially we aim to move a number of our current examinations onto the new examination delivery system in April 2023.
We are also investigating the introduction of Objective Based Testing for the early mathematical modules of our Associate qualification in the medium to longer term, allowing us to consider offering a more flexible, on-demand style testing in the future.
How are we enhancing our Lifelong Learning?
25 March 2021
We have already begun to expand our Lifelong Learning offer and are keen to build on the success of our Certificate in Data Science and new Banking and Sustainability Lifelong Learning microsites. We will be engaging with key stakeholders to scope the IFoA’s future Lifelong Learning offering and develop new opportunities and resources for our members.
How are we involving members and other stakeholders?
25 March 2021
We are ensuring members’ needs are the driving force behind the outcomes from this Programme. Members will be involved at every possible opportunity. We will be inviting members to contribute wherever relevant, through surveys, email, and newsletters - whenever opportunities arise.
There are a wide range of internal and external stakeholders, from our Chief Examiners, to University faculty members and actuarial employers. Their involvement is essential if we want to shape, deliver and embed innovations which will meet members’ and other key stakeholders and partners’ needs. We will be engaging with all these stakeholders through meetings, consultations and a number of IFoA communications channels.
How will these changes benefit members?
25 March 2021
The outcomes of the Learning Change Programme will address the challenges that members have said have the greatest impact on their careers. These will support members to succeed in the rapidly changing global professional environment.
Updating our curriculum will ensure student members develop a broader contemporary knowledge-base and skills, so they can pursue career opportunities in a wider range of emerging actuarial opportunities and roles. The development of a competency framework for the pre-Associate curriculum will also give clear evidence of the competencies and capabilities of our Associate members. Delivering a broader portfolio of learning for pre-Fellowship study will support members looking to broaden their skill base enabling them to move into new areas of actuarial employment.
Improvements in our exam delivery 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.
Delivering an enhanced portfolio of Lifelong Learning will give members more opportunities to refresh their knowledge and skills, and build new competencies to support their career aspirations.
How can I get involved?
25 March 2021
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 this microsite, The Actuary, Newsletters and email – please look out for opportunities to be get involved and help shape the future.
I have a question…
If you have questions, suggestions, or require additional information, please contact LCP@actuaries.org.uk. We will use these to create a regularly updated set of Frequently Asked Questions on this webpage where all members can benefit from your thoughts, suggestions and questions. They will be shared on this FAQ page.
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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.
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.
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The Business of the AGM
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The 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.
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.
Actuaries in all practice areas have had an “alert” to consider climate risk. A plethora of scenarios and tools are being developed both internally and as part of industry-wide initiatives but is there yet a sense of good practice?
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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.
The elements of climate change that influence and impact on health & care, both in terms of the direct and indirect impact on mortality and morbidity, and the sustainability of healthcare globally are many.
Today’s breakneck pace of technological change has an immense impact on leaders—and as a result, on their organizations’ capacity to transform. All too often, executives remain stuck in outdated mindsets and modes of operating, even when they recognize the need to reinvent themselves. Leadership expert Herminia Ibarra upends traditional, introspective advice and says act first—in order to change your way of thinking. Following her presentation, Herminia Ibarra will be joined by Louise Pryor, incoming IFoA President and Hash Piperdy, Managing Director at Epitome Global, for a panel discussion around the themes of the session. The panel will be chaired by Tan Suee Chieh.
The IFoA’s Actuarial Review Team will publish its second thematic review in June 2021. The review is looking at the involvement of actuaries in the pricing of UK home and motor insurance, during a period of significant developments in the sector from both regulation and innovation.
As part of the Behavioural Science Series, David Rooke will explore the leadership capacities and capabilities that may enable actuaries to successfully navigate the challenges of our times. He will discuss how actuaries can apply these principles to ensure the profession succeeds, flourishes, and plays a positive societal role in our global community.
Following his presentation, David Rooke will be joined by Stephen Mann, CEO at the Institute and Faculty of Actuaries and Anusha Thavarajah, Allianz’s Regional Chief Executive Officer, Life and Health for Asia Pacific for a panel discussion around the themes of the session The panel will be chaired by Tan Suee Chieh.
We have made it through 2020 but the COVID-19 crisis continues to have a significant impact on individuals, societies, businesses and the wider economy across the globe. Navigating the world post COVID-19 in an uncertain and highly unstable time brings along many uncertainties, challenges and exciting opportunities. Hence the theme of this year’s IFoA Asia Conference Webinar Series is “Risk. Adapt. Thrive.”
Internal 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.