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Educational opportunities (paid): frequently asked questions (FAQs)

The Institute and Faculty of Actuaries has a range of paid opportunities that both members and non-members can get involved in. We have opportunities for individuals starting out in their actuarial career, such as testing and providing feedback on exam papers; to more senior roles such as a Chief Examiner, who oversees the subject team and development of exam related materials or a partnership role such as Independent Examiner who ensures the quality of our partnership with universities meet the IFoA examination standards.

 

Quality teamWe would like to introduce ourselves, the team has five members who are responsible for numerous processes throughout the student journey. One of our biggest areas of responsibility is managing our self-employed contractors ensuring the recruitment, induction and training is delivered.  We work closely with our colleagues in the Assessment Team to manage this process effectively and to ensure our supporters from around the globe are given an opportunity to get involved. We are keen to hear from individuals with the relevant skills and experience to take on a particular role. We welcome expressions of interest throughout the year, however we do have two main recruitment periods, December and May which is one of our busiest periods.

The Quality team

Find out more about our roles

We have put together some frequently asked questions (FAQs) to provide more information about our roles.
 

View our paid opportunities now
 

FAQs


Application process

I have never been involved in the examination process before and I don’t know where to start?

We are here to assist you with any questions you may have.  Many newly qualified actuaries assist with the review of the examination papers by reviewing the content, grammar, questions and assess the length and difficulty, we call these positions Guinea Pigs.  The Guinea Pigs play a very important role to ensure that the paper is fit for purpose.

Review our supporting information document for full details

I am still a student member, can I mark the examination papers?

These roles play a key part in the marking of our examinations, and therefore student members of the IFoA or other Actuarial Associations will not be considered for these positions. Once qualified and transferred as an Associate or Fellow then your application can be considered and we would love to hear from you.

How do I register my expression of interest (EOI) for a role?

Fill in our EOI form to register your interest

Do I need my own laptop and is internet access required?

The IFoA does not provide a laptop or computer, you should ensure that you have access to the equipment and that all material can remain confidential and secure. Stable Internet access is required to fulfil the IFoA Paid Opportunity roles.


Marker applicants 

What are the technical requirements, do I need access to particular software?

The majority of the student exam scripts and related material are delivered via a secure online platform.  This means to access them you will need a reliable internet connection. You should have Microsoft Excel and Word as well as Adobe reader installed. Some marking is carried out using an eMarking platform, the technical requirements are within the task and person document.

Will I automatically be selected to mark exam papers?

We endeavour to allocate scripts to all available Markers in each session; we cannot however, guarantee this as the number of available scripts is dependent on the number of student entries. We will always contact you for your own availability beforehand.

How many scripts will you ask me to mark?

Script allocation will vary depending on the number of examination entries received.  Usually you will be asked to mark one ‘load’ a load is approximately 100 scripts.

Do I have to be available at the same time every year?

The exam sessions are twice a year, in April and September.  You will be contacted before each session to check your availability. Therefore, you would need to be available after the session if a Marker, Examiner and Chief Examiner and before the session if you are a Chief Examiner or Examiner as these roles are involved in the writing of the paper.  The IFoA will usually allow up to 4 weeks post exam for marking of papers.


CPD

Can I claim CPD for the role?

You can claim CPD hours for the marking/scrutiny meetings you are asked to attend. The Membership team are responsible for CPD hours and any queries should be directed to them.


Fees paid and contract length

How much will I be paid for the role?

The remuneration for each position varies depending on the role and work required. The fees are outlined in the Schedule of Service which is provided upon successful appointment. We understand that the fees paid do not reflect the market rate for Actuaries.  We do however recognise the dedication and inspiration to help others on their journey as Actuaries.

When will I get paid?

Payment will be made once the session is complete; this is usually after the issue or results. Detailed information is available on the individual schedule of services for each position. You will however be provided with an invoice template to use.

Do I pay tax?

Any payment received from the IFoA in relation to work undertaken should be declared as income, each individual’s tax arrangements vary and any advice should be sought from HMRC or your own tax adviser.(from the country in which you reside).  We are unable to give advice on tax issues.

If I apply for a role as an Examiner, do I need to do any form of testing?

Applicants will be asked to write a specimen question on the subject chosen; it may also be necessary to undertake a test marking exercise for those who have no marking experience.

How long is my contract with the IFoA?

The tenure of the position is usually 2-3 years, we will however, discuss extensions to this with individuals at the time.


Role progression

I am currently a Guinea Pig, can I automatically move to a Marker role?

Guinea Pigs do not automatically become Markers and should apply for available roles by completing the application form.

I am already a Marker, how do I progress to the Examiner position?

All available positions will always be advertised on the Paid Opportunities page, to become an Examiner, you should have already gained marking experience. The Examiners write the exam papers with a small team and they also undertake any review of marks awarded by the first two markers.


About the teams

Who are the Quality team?

The Quality team deal with the recruitment of paid and some volunteer positions, they are the first point of contact during the recruitment process. The Quality team work closely with the Assessment team; both teams are based in Oxford.

Who are the Assessment team?

The Assessment team work closely with the examination teams for all subjects. They are responsible for the relationship between the IFoA and the subject teams. They allocate the number of scripts for marking and arrange the marking and scrutiny meetings.

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Events calendar

  • New Year Member Event and Volunteer Reception in Hong Kong

    Club@28, Crowne Plaza Hong Kong Causeway Bay, Causeway Bay, No.8 Leighton Road (Chinese address :香港铜锣湾皇冠假日酒店28层Club@28, 香港铜锣湾礼顿道8号 )
    17 January 2020

    Spaces available

    The IFoA Beijing Office invite all of our members to join the New Year Member Event and Volunteer Reception. We would like to thank all our members and volunteers, to congratulate all the new qualifiers in the September exam session, and to celebrate the New Year 2020 and the Spring Festival together!

    This social event is free and open to all IFoA members.

    Save the date and join us!

  • New Year Member Event and Volunteer Reception in Shenzen

    Shenzhen:  GlassHammer Bar, L1-131-133, Futiam Shopping Mall, Shenzhen. (Chinese address: 玻璃锤精酿啤酒屋(原Taps),深圳市福田区购物公园1楼商铺131-133)
    17 January 2020

    Spaces available

    The IFoA Beijing Office invite all of our members to join the New Year Member Event and Volunteer Reception. We would like to thank all our members and volunteers, to congratulate all the new qualifiers in the September exam session, and to celebrate the New Year 2020 and the Spring Festival together!

    This social event is free and open to all IFoA members.

    Save the date and join us!

  • New Year Member Event and Volunteer Reception in Shanghai

    Shanghai: Bluefrog (next to Super Grand Mall), No. 12-14 Fucheng Road, Shanghai. (Chinese address: Bluefrog蓝蛙正大店,富城路12-14号,正大广场对面)
    17 January 2020

    Spaces available

    The IFoA Beijing Office invite all of our members to join the New Year Member Event and Volunteer Reception. We would like to thank all our members and volunteers, to congratulate all the new qualifiers in the September exam session, and to celebrate the New Year 2020 and the Spring Festival together!

    This social event is free and open to all IFoA members.

    Save the date and join us!

  • New Year Member Event and Volunteer Reception in Beijing

    Beijing: Jazz.ya APM,L621-623, Sun Dong An Plaza Plaza, No. 138 Wangfujing Street, Dongcheng District, Beijing (Chinese address: 北京市东城区王府井大街138号新东安广场L621-623商铺)
    17 January 2020

    Spaces available

    The IFoA Beijing Office invite all of our members to join the New Year Member Event and Volunteer Reception. We would like to thank all our members and volunteers, to congratulate all the new qualifiers in the September exam session, and to celebrate the New Year 2020 and the Spring Festival together!

    This social event is free and open to all IFoA members.

    Save the date and join us!

  • Sessional Meeting - Operational Risk Dependencies

    Royal College of Physicians of Edinburgh 9 Queen St Edinburgh EH2 1JQ
    20 January 2020

    Fully booked.

    The Operational Risk Working Party aims to assist actuaries and others in the modelling and management of operational risk. One of the key challenges in modelling operational risk is the modelling of dependencies between operational risks, and between operational and non-operational risks such as market, credit and insurance risk.

  • KSS event in Glasgow: Public Sector Pensions

    Hymans Robertson, Glasgow 20 Waterloo St, Glasgow
    30 January 2020

    Spaces available

    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

  • KSS event in Stirling: Public Sector Pensions

    M&G Prudential, Stirling Craigforth Campus, Stirling
    30 January 2020

    Spaces available

    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

  • KSS event in Edinburgh: Public Sector Pensions

    Hymans Robertson 1, Exchange Place, Semple St, Edinburgh
    30 January 2020

    Spaces available

    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

  • The Great Risk Transfer – Breakfast briefing and launch event

    Staple Inn Hall, High Holborn London WC1V 7QJ
    31 January 2020

    Fully booked.

     

    Launch of the IFoA’s 2020 thought leadership campaign The Great Risk Transfer. The campaign will examine the trend of the transfer of risk from institutions to individuals, and how people can be better equipped to manage the financial risks they now face. At this breakfast event the IFoA will launch a call for evidence on this topic.

  • Joint IFoA and SOAT Professional Skills Training event - Bangkok

    Thai Life Insurance PCL, 13th Floor, Meeting Room 13/2, 123 Ratchadaphisek Road, Din Daeng, Bangkok 10400, Thailand  
    7 February 2020

    Spaces available

    This session is jointly organised by the Institute and Faculty of Actuaries (IFoA) and the Society of Actuaries of Thailand (SOAT).

    Video case studies will be selected from the IFoA’s 2019/2020 online content which covers a range of topics under an overarching theme of “A Trusted Profession”. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

     

  • Cyber Risk Event

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    10 February 2020

    Spaces available

    What do good cyber practices look like and, to what extent, can we as an industry implement these operationally and recognise these for underwriting?

  • KSS event: Where now for pensions?

    Royal London Group, 1 Thistle Street, Edinburgh, EH2 1DG
    18 February 2020

    Spaces available

    With a single party government at Westminster holding a comfortable majority, and with the first phase of Brexit complete, the potential for radical reforms of the pensions landscape is increased. 

    Former Pensions Minister Steve Webb discusses what changes we can expect to see in pensions including in state pensions, pension tax relief, automatic enrolment and the workplace pension landscape.

  • Sessional: Impact of E-cigarettes Working Party

    Royal College of Physicians, 9 Queen St, Edinburgh EH2 1JQ
    24 February 2020

    Spaces available

    This sessional meeting will be of direct interest to actuaries and others working in the in the Health and Care, Life or Pensions sectors or indeed actuaries with an interest in morbidity or mortality. Note: Registration is from 17.30 in time for the sessional to begin at 18.00.

  • KSS event: How is Scotland’s population changing and what are the implications?

    New Register House, 3 West Register Street, Edinburgh
    5 March 2020

    Spaces available

    The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:

  • Board agenda: Why Responsible Investing, ESG, and Climate Change matters to Pension Funds, Companies

    Staple Inn, 4 High Holborn, Holborn, London. WC1V 6DR, UK
    19 March 2020

    Spaces available

    Recent years have seen ESG, Climate Change, and Responsible Investing thrust onto the corporate agenda in every boardroom. The same also be said for pension funds. Expectations of how companies should respond are high and NEDs on Boards are expected to adapt and adjust their guidance to companies accordingly. What does this mean for Actuaries serving as NEDs and Trustees?

  • KSS event: A Cashless Society- Benefits, Risks, Issues and Developments

    Deloitte, 4th Floor, Saltire Court, 20 Castle Terrace
    19 March 2020

    Spaces available

    Speaker: Iain Collier, Chair of the CSWP

    The talk will look to cover the following: Progression towards a Cashless Society • Developments home and overseas • Benefits, Risks and Issues • Crypto Currencies and Central Bank Digital Currencies.

    There will be an extended Q&A session at the end of the event.

  • Spring Lecture 2020, Edinburgh - Vicky Pryce

    Assembly Rooms, 54 George St, Edinburgh EH2 2LR
    25 March 2020

    Spaces available

    What next in Economic Policy? Please join us for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • Spring Lecture 2020: Live Streaming

    Webinar
    25 March 2020

    Spaces available

    What next in Economic Policy? Please join us on 25 March 2020 for the live stream of our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • SIAS Event: CMI Update

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    1 April 2020

    Spaces available

    Following the release of the updated CMI Mortality Projection Model, CMI_2019, the CMI Mortality Projections Committee will lead a discussion on future mortality improvements.

  • IFoA Asia Conference 2020, Kuala Lumpur

    CCEC Nexus, 7, Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
    24-25 June 2020
    Spaces available

    Join us at the IFoA Asia Conference 2020 at CCEC Nexus, Kuala Lumpur where intellectual thought leaders, senior industry players, opinion formers, academics, actuaries and non-actuaries from across Asia and beyond are expected to attend. This year's landmark conference promises to an exciting one as our first Asian President-elect, Tan Suee Chieh will, as newly appointed president of the IFoA, use his presidential address to highlight the two key pillars of the IFoA’s emerging strategy:

    • the reinvention of the profession in terms of its skillsets and mind-sets so that we can thrive in an increasing range of domains in a digital age;
    • the widening application of actuarial science in achieving social impact and sustainability goals.

    We are also delighted to announce that the Honourable Mr. Lim Guan Eng, Minister of Finance, Malaysia, will be the guest of honour at this year's conference.

    Should you be interested in presenting and sharing your expertise with international industry players, opinion formers, peers, and academics, please submit your proposal by 20 January.

    Early bird registration is now open until 1 March.  10% group discounts are offered to a minimum of six IFoA members booking in a single transaction.  Limited spaces are available, so please sign-up early to avoid disappointment.