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Certificate in Data Science – syllabus

Module 1: Introduction to data science, data management and processing

  • Introduction to planning a data science project
    • Professional and ethical considerations
       
  • Understanding how to create the data set
    • Data collection methods - methods by which data can be collected e.g. page scraping, survey, etc.
    • Data preparation - importance of data ‘cleaning’, validity and quality
    • Data analysis - how format and volume of data limits methods of analysis available
  • Optional: an introduction to Python for Data Science data collection
    • Page scraping using Python
    • Interrogating an 'open data' API
    • Examining a non-relational database

Module 2: Data analysis and introduction to machine learning (ML)

  • Understanding of common statistical techniques in ML
    • Analytical methods for different data types and format
  • Visualise result of data analysis
    • Factors to consider
  • Introduction to ML using Linear Regression model
    • Benefits and drawbacks of analysis
  • Application to (IFoA material) case study

Module 3: Data visualisation and communication

  • Identifying audience requirements
  • Data scientist as ‘storyteller’
  • Building a narrative
  • Explaining the technical - how to communicate the role played by ML and/or AI techniques resulting in an informed audience
  • Visualisation techniques
  • Using 'Off The Shelf'/proprietary tools
  • Issues for communication in an actuarial context

Optional: Visualising Data with Python libraries

Module 4: Further analysis and artificial intelligence

  • Selection of analysis method
  • Common machine learning models
  • Comparison of AI and ML
  • AI selection criteria
  • Benefits and drawbacks
  • Application to (IFoA supplied) case study

Module 5: Good practice of data science, and responsible AI

  • Responsibilities of actuaries around data science and AI (IFoA material)
  • Awareness of ethical issues which may possibly arise within participants organisation
  • Developing ethical and professional safeguards (IFoA material)

Module 6: Future directions

  • Discussion of future directions of data science and AI in actuarial contexts
  • Question and answer (Q&A) and support to complete assignments

Filter or search events

Start date
E.g., 23/11/2020
End date
E.g., 23/11/2020

Events calendar

  • Spaces available

    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.

  • Spaces available

    Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.

  • UK Town Hall 08:30-09:30

    Webinar
    4 December 2020

    Spaces available

    IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann.  

  • UK Town Hall 10:00-11:00

    Webinar
    4 December 2020

    Spaces available

    IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann.  

  • Spaces available

    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.

  • Spaces available

    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

  • Spaces available

    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. 

  • Spaces available

    Running off the £2 trillion of UK corporate sector defined benefit liabilities in an efficient and effective fashion is the biggest challenge facing the UK pensions industry. Trustees and sponsors overseeing those schemes need to be clear on their target end-state and the associated journey plan – but too few have well articulated and robust plans.

  • Spaces available

    The actuarial skill set has much to offer the banking industry. So many of the skills that actuaries acquire during their working life translate across to the world of banking and yet banking is perceived as an alien environment to many actuaries. But is it?

  • Spaces available

    Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.

    We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.