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Definitions

This glossary provides definitions of terminology used in the CPD Scheme

Term

Definition

Actuarial Work

Work undertaken by a Member in their capacity as a person with actuarial skills on which the intended recipient of that work is entitled to rely. This may include carrying out calculations, modelling or the rendering of advice, recommendations, findings, or opinions.

Actuaries’ Code

The ethical professional code for Members issued by the Institute and Faculty of Actuaries.

Appropriate Person

An individual identified by the Member, who understands the nature of the Member’s Actuarial Work, their development and their Learning Outcomes. Such an individual could be a peer, a colleague, a line manager or a volunteer of the IFoA, amongst others.

CPD Requirements

The requirements imposed upon Members in relation to Continuing Professional Development including this CPD Scheme and the wider development and learning requirements of the Actuaries’ Code.

CPD Activities

Activities that involve development and learning relevant to a Member’s Actuarial Work (current or future) or professional development, which address a personal development need and have an identifiable Learning Outcome. Those activities can be wide ranging and include, for example, lectures, seminars, workshops, webinars, personal reading and research. It could also potentially include carrying out Actuarial Work where that has a relevant Learning Outcome.

CPD Period

The period between 1 September and 31 August.

IFoA

The Institute and Faculty of Actuaries.

Learning Outcome

 

 

Knowledge and/or skills which the Member gained as a result of taking part in an activity.

Member

A member of the IFoA

Non-Practising Member

A Member that has been registered, following application, with the IFoA as ‘Non-Practising’. This may include, for example, Members that are: retired from actuarial practice; not carrying out technical Actuarial Work; or on a career break.

Optional Recording System

The IFoA’s non-mandatory CPD recording system, available for use by Members to assist with keeping track of CPD Activities and recording Learning Outcomes

Professional Skills Training

CPD Activities with a Learning Outcome related to managing professional ethical challenges.

Reflective Practice Discussion

A discussion to allow the Member to reflect on the CPD Activities carried out during the previous CPD Period, Learning Outcomes achieved and how they have applied what was learnt; as well as to discuss how they intend to approach future development and learning, including anticipated other work and/or roles.

Student Member

A Member that is not a Fellow, Associate, Affiliate, Honorary Fellow, or Certified Actuarial Analyst.

QAS Member

A Member that is employed by an organisation or part of an organisation accredited under the Quality Assurance Scheme, that is registered with the IFoA as being part of the QAS CPD Scheme

QAS CPD Scheme

The outcomes focused CPD scheme available to organisations accredited under the Quality Assurance Scheme.

Contact Details

If you have any enquires about CPD, please contact the Membership Team

cpd_feedback@actuaries.org.uk

We aim to respond to all enquiries within two working days.

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Events calendar

  • Spaces available

    Drawing from his most recent book “The New Long Life” and his longevity research Andrew J Scott will outline how longer lives and new technologies will fundamentally reshape how we structure our lives and transform the economy. As well as looking at the agenda this will set governments and corporates he will focus on the implications for you and how you prepare your future career.

  • India Town Hall

    Webinar
    28 January 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann. 

  • Spaces available

    What are the options for the world economy looking ahead?

    In this Thought Leadership Lecture, Economist, Vicky Pryce, will be discussing world economic trends, including the differences in geographical performance and how output is recovering and where.

  • Spaces available

    Trust and Leadership for Actuaries

    Led by Dr. Jim Baxter, University of Leeds, this webinar introduces some key ideas in the ethics of trust, with a particular focus on those in, or on the path to, leadership roles. Dr Baxter is joined by a panel of experienced leaders who will give their personal perspectives on how they understand the value of trust and how they seek to promote and inspire trust, drawing on their experiences of leadership. The panel includes:

  • Health and Care Hot Topics webinar

    Online webinar
    10 February 2021

    Spaces available

    In this webinar, we have two presentations showing the latest research on the implications for life and health insurers of two key issues: genomics and pandemic risk.

    Dr Peter Joshi and Paul Timmers will share their research on how well-established underwriting processes can allow for genomics in predicting expected mortality and morbidity. They will then discuss the potential for stratified screening and personalised medicine to improve health and reduce claim costs.

  • Spaces available

    As the world’s attention begins to turn to COP26 later this year in Glasgow, Sarah Gordon (Chief Executive, Impact Investing Institute) will share her vision for how the financial services industry can deliver for people and the planet, as well as how to encourage more investment with the intention to generate positive, measurable social and environmental impact alongside a financial return.

  • Sub-Saharan Africa Town Hall

    26 February 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.

  • MENAP Town Hall

    2 March 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual MENAP Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.