The Institute and Faculty of Actuaries (IFoA) is seeking to appoint appropriately experienced individuals to lead the assessment setting and marking of subjects of the IFoA qualification.
We encourage applications from a diverse range of potential candidates, in terms of, but not exclusively gender, age, disability and ethnicity, as well as reflecting the geographical spread and practice areas of our membership.
SA3 - General Insurance Advanced
Applications will be processed upon receipt.
Future roles: register your interest
The IFoA is the UK’s only chartered professional body dedicated to educating, developing and regulating actuaries based around the globe. We have a worldwide membership of over 30,000 of which over 50% are student members. 47% of our membership and 64% of our students are based outside the UK, reflecting the increasingly global nature of actuarial practice.
The IFoA Council sets the strategy, with Executive staff responsible for its execution. The Lifelong Learning Board is responsible for the oversight of delivery of specific aspects of this strategy related to the pre-qualification education of actuaries, and their continuing professional development and lifelong learning.
The IFoA qualifications comprise of a number of modules and related assessment subjects. The Board delegates the oversight and assessment of the qualification standards to the Board of Examiners with the Chief Examiner appointed for each assessment subject to execute this.
The Chief Examiner will be expected to:
- Provide overall leadership and management to the examining team ensuring it carries out its responsibilities in a proper and impartial manner and in accordance with IFoA governance
- Challenge, scrutinise and support team members to ensure that required assessment material (3 exam papers, associated marking schedules which identify the minimally competent candidate and exam plans) are delivered and signed off to the required standard and quality within the agreed deadlines
- Ensure that the secrecy of the exam papers is maintained
- Carry out script marking and moderation in line with IFoA regulations, policies and procedures
- Determine the subject pass mark and each candidate’s individual mark
- Prepare and submit the exam results and statistics, reports on the assessment and candidate performance, and candidate guidance (examiners’ report) to the required standard and within the agreed deadlines
- Support the recruitment and development of markers and examiners, participating in both the recruitment and induction processes and providing feedback after each session
- Work closely with the Module Lead to ensure the assessments relate to syllabus and module content
- Attend and where required chair a number of meetings related to the role including but not limited to module team meetings, exam paper scrutiny meetings, marking meetings, Board of Examiners meetings and Annual Examiners Meeting
- Lead the examining team in fostering a mutually respectful relationship with the Executive.
The Chief Examiner will report to the Board Officers of the Board of Examiners.
The Chief Examiner will be appointed for a period of three years. The tenure may be extended for a further three years by mutual agreement.
The IFoA will also consider alternative tenure lengths with individuals. These arrangements can be discussed on a case-by-case basis during the application process.
The syllabus is updated annually and signed off at Education Committee in January for the following year with the module content prepared for publishing on June 1 each year. Assessment materials are all signed off by the end of February for that year.
The role requires chairing at least one exam paper scrutiny meeting to ensure the assessment material is appropriate and will be delivered by the required deadlines. Participation can be via face to face meeting usually in London, by telephone or conference call. There will be a requirement to attend the annual examiners meeting, usually in March.
The role also requires chairing a marking meeting at the start of the marking process each session where markers can discuss and develop a shared understanding of the marking criteria. This will include comparing marks for a small sample of student scripts.
It is anticipated that the Chief Examiner will attend the Module review meeting to discuss and input into the syllabus and module content.
In addition to these meetings there will be follow up actions and communications with the examining team and executive staff along with editing and writing and signing off relevant material.
The total annual time commitment is around 200 hours.
This is a remunerated role and a fee will be paid
Mutually agreed services will be outlined in a ‘Schedule of services’ which will be provided to you on successful appointment. On successful completion of the services, you will be required to submit an invoice to the IFoA. The IFoA will provide you with a template invoice to use, and this invoice will be processed by a member of the IFoA’s Assessment team. If you wish to view the ‘Schedule of services’ and the applicable terms and conditions, prior to expressing interest in this role, please contact the Quality team. Please note that this role is classified as a ‘Self-Employed Contractor’.
Please also note that every individual who supports the IFoA, be that as a volunteer (member or non member), or in any other role, including as a self-employed contactor, works in partnership with the IFoA Executive staff to deliver our strategy and Royal Charter, in line with our values. We are extremely grateful to all who form part of this delivery team, collectively known as our volunteers and as such you will have access to volunteer resources, updates and communications in general. We hope that you find this helpful and valuable to you when delivering your role.
Future roles: register your interest
Filter or search events
Delivered by the IFRS 17 Contractual Service Margin working party.
The Certified Actuarial Analyst (CAA) qualification has rapidly established itself as adding real value, to insurers and consultancies, and to the clients of consultancies, around the World. CAAs work alongside actuaries and actuarial students, as well as other financial services professionals, in an increasingly broad range of roles and fields.
This session is a repeat of the one earlier today at 09:30
Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.
This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.
This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.
This webinar will provide an update on the emerging thinking around future regulation of DB schemes:
The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.
Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.
Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year
The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.