A leading, vital, and highly respected role offered by the Institute and Faculty of Actuaries’ (IFoA’s) Engagement and Learning Directorate to Fellows, Associates, and Honorary Fellows with experience of setting and marking the IFoA’s exams (or equivalent experience – professional or academic) who would like to be considered for the role of Independent Examiner for the IFoA.
Working closely with our university partners, you will be monitoring and maintaining the quality and standards of university programmes with IFoA exemption agreements, and ensuring that the exemption recommendation process runs smoothly.
This is a senior role that provides holders with a great opportunity for self-development and to build a global network. It comes with a high level of responsibility and as such we take considerable care in the selection process.
Please note: Student members of the IFoA or any other actuarial association will not be considered.
Positions available: apply now
Future roles: register your interest
During each year of attachment Independent Examiners will:
- review and comment on draft exam papers and programme materials
- meet with the university to which they are assigned
- attend the university’s Exam Board at the end of the exam and resit periods to agree lists of students recommended for exemptions
- prepare an annual report on the Accredited programme(s), which should address:
- strengths and shortcomings of the programme
- the assessment and award processes
- the programme standards
- syllabus topics
- any examples of innovation in the delivery and assessment of the programme
- attend the IFoA’s annual review meeting for Accredited university programmes and the IFoA’s Independent Examiners meeting
- Once appointed, as a new Independent Examiner, you will receive training and will be paired up with a mentor.
- Administrative support for the role will be provided by the Partnership team and you will report to the Partnership Manager and ultimately to the IFoA Education Committee.
- Templates and sample documents will be available to review.
- Travel, on our behalf, will be reimbursed in accordance with our policies.
The tenure is for four academic years (renewed annually). Once appointed, you would be part of a bank of Independent Examiners upon which we can draw each year. The Partnership Manager will confirm university allocation in September of each year.
As a guide, our Independent Examiners have indicated that they devote approximately 1 day per month to this role during the course of the academic year, rising to 7 days per month during the exam period of April – June.
Each September, the bank of volunteers is reviewed and we notify those who will be appointed as an Independent Examiner for that academic year.
Members seeking to be appointed as Independent Examiners should ideally have:
- ability to work as part of a team;
- experience in actuarial practice and/or are involved in teaching actuarial science programmes;
- relevant experience in setting and marking the IFoA’s exams, or equivalent;
- good working knowledge of the IFoA’s current exam syllabus and structure and awareness of the latest developments;
- attention to detail and proof reading skills; and
- excellent time management.
The benefits of becoming an Independent Examiner
- networking opportunities to broaden existing relationships and build new ones
- apply and develop skills and expertise in different environments
- play a part in the delivery of new approaches to assessment
- develop an insight into different methods of delivery by universities
If you intend to use the time spent on this activity when recording your CPD, remember it must be relevant to your work or role and address a personal development need. You should record an appropriate learning outcome. This is in accordance with the CPD Scheme.
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 a 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 Education Partnership and Lifelong Learning 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’.
The IFoA delivery team is made up of IFoA Executive staff and our volunteer community. Every individual who supports the IFoA, is valued, and is recognised, as part of our volunteer community and works in partnership with the IFoA Executive staff to deliver our strategy and Royal Charter, in line with our values.
At the IFoA, the term “volunteer” includes volunteers (members and non-members: lay), Office Holders, and Self Employed Contractors (paid roles).
Volunteering provides you with a wide range of opportunities. With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s Governance Manual and Volunteer Information Pack (VIP). Please view our ‘what you need to know’ web pages before offering to provide support. The key elements will be highlighted to you as part of your contract for services with the IFoA.
Filter or search events
We’ve all heard about the gender pay gap. Sadly, the gap doesn’t just exist with base pay.
Research carried out by Legal & General in 2021 across the four million members in our Defined Contribution (DC) pensions, found that there’s a gender pension gap too, continuing the divide between men and women.
As current global events continue to demonstrate, geopolitical tensions present significant risks to corporates of all sizes. However, these types of risk are often not given the discussion time it needs at the board level or executive committee levels, nor the resources required to anticipate, analyse and mitigate them effectively.
At retirement, it has become very popular for those with Defined Contribution (DC) pensions to choose drawdown rather than an annuity, but drawing a sustainable lifetime income in this way is an impossible challenge for most people. We consider a Decumulation Pathway for the typical consumer, where a small part of the DC fund is set aside for any flexible access and legacy requirements. The bulk is then used to provide a lifetime income, utilising the pooling or insuring of longevity risk.
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; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.
In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.
The Business of the AGM
Join newly inaugurated IFoA President, Matt Saker, for his Presidential Address.
We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.