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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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.