Stage 3 is an annual requirement to complete two hours of Professional Skills Training which may be acquired by attending events, by completing an on-line activity or by a combination of both types of activity. The IFoA develops new online content annually to assist members in meeting the requirements. This includes video case studies and other resources which can be accessed under Online Learning Resources.
While the IFoA offers events and on-line programmes at no cost, members are free to source events and on-line courses from other providers, subject to the requirement that they satisfy the objectives specified below.
Find out What counts as Stage 3 activities
Stage 3 must be completed by members in the following categories:
- Category 1: All members who hold a practising certificate issued by the IFoA
- Category 2: Fully regulated Fellows and Associates of the IFoA who do not hold a practising certificate and who have completed Stage 2 of the PST* (and are not retired members for the purposes of Category 7)
- Category 3: Partially regulated Fellows and Associates of the IFoA and who have completed Stage 2 of the PST (and are not retired members for the purposes of Category 7), and
- Category 5: Student members of the IFoA who:
- Completed Stage 2 of the PST*, or
- Joined the IFoA prior to 1 July 2006*.
* and are not retired members for the purposes of Category 7.
In order to qualify as Stage 3 training the activity should enhance the member’s understanding of an actuary’s professional obligations and achieve one or more of the following objectives:
- enhance understanding of principles of ethical behaviour and how to apply these in making professional judgements;
- enhance understanding of what it means to act in the public interest;
- equip actuaries to make reasoned and justifiable decisions in resolving ethical dilemmas;
- assist actuaries to demonstrate ethical behaviour in conducting their professional life; and
- enable actuaries to recognise ethical dilemmas and take appropriate action.
Where the course is not provided by the IFoA, the following conditions must be satisfied:
- must be sourced from a suitable provider, of appropriate repute, such as a training company, a professional body, an employer of actuaries, a regulator, or another IAA member body;
- must allow actuaries to demonstrate a relevant learning outcome; and
- must be capable of being evidenced to the IFoA in writing.
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If you have any questions about Professional Skills Training Stage 3 - Professional Skills for Experienced Members please contact the Professional Regulation Manager.