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A Trusted Profession

The Institute and Faculty of Actuaries (IFoA) has developed online Professional Skills Training (PST) content to assist members in meeting their Professional Skills Training requirements. 

Details of the requirements for Stage 3 Professional Skills Training for experienced members are specified in the CPD Scheme 2019/2020.

Around 12,000 members are required to complete the Stage 3 PST and the IFoA’s online content is just one option to satisfy the requirements. The content includes a range of video case studies covering professional and ethical issues.

You may of course source relevant CPD from other providers as long as it meets the objectives set out in the CPD Scheme 2019/2020.

What else counts towards meeting the requirements? 

Here is a flavour of what to expect in this year’s videos:

  • The challenges of working in a multidisciplinary project team to implement a pilot using AI technology for insurance renewal pricing; 
  • Deputising for the CRO, you find yourself asked to give the go ahead on a project launch which you think may be outside the firm’s risk appetite;
  • Under pressure from management to come up with a “best estimate” in an impossible time frame;
  • Facing a tough decision on whether to blow the whistle;
  • What level of information do you need to disclose about your model to another professional who is relying on the results to formulate their advice?;
  • “Inspired” by the model licensed from an actuarial software provider - you come up with a plan to save costs;
  • You suspect your boss has personal reasons for favouring a particular service provider in a competitive tender; and
  • Your career prospects are threatened when you announce your intention to take paternity leave, as the firm is relying on your skills for a particular project.

Reflect on how to navigate these challenges whilst upholding the reputation of actuaries so we are A Trusted Profession.

For each video case study there is a separate video where actuaries provide their thoughts on the issues raised.

 

View the 2019/2020 videos
 

If you would like transcripts of any of the videos, please contact professional.skills@actuaries.org.uk.

To reduce buffering issues and improve the user experience, we recommend that you access the videos from a home PC or a mobile 4G connection, as these usually deliver more bandwidth than corporate networks where bandwidth may be limited.

Professional skills online videos 2019/2020

Contact Details

professional.skills@actuaries.org.uk

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Events calendar

  • CILA 2022

    23 May 2022 - 24 May 2022

    Spaces available

    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.

  • Spaces available

    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

  • The IFoA Conference 2022

    133 Houndsditch, London EC3A 7BX and Online
    22 June 2022 - 23 June 2022
    Spaces available

    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.

     

  • Spaces available

    This webinar will cover:

    • Some background on the risks of misselling in an ESG context, including the DWS case

    • Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities

    • This tension can be resolved with a concept called Universal Ownership

    • Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities

  • Spaces available

    This session will focus on the transformation roadmap of the healthcare sector in KSA and the role of actuarial capabilities in enhancing its evolution to the desired end stage as per the objectives of the Vision 2030. The discussion will focus how the system has evolved so far and shed light on  the expected future changes. Through examining  the transformation, we will highlight how the sector is and can use actuarial  expertise to not only assist with this transformation but also use basic actuarial principles to identify the key risks and their respective mitigation strategies.