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

  • Finance in the Public Interest Series

    16 March 2021 - 23 March 2021

    Spaces available

    There is widening debate that many of our social, financial and regulatory institutions need to be rethought so that we can create more sustainable futures, particularly in light of the Covid-19 pandemic, the policy/macro-economic response to the pandemic and how it affects consumers, as well as the impending climate crisis. This multi-day series of three keynote webinars, individually presented by leading economist John Kay, Sir Paul Collier, Professor of Economics and Public Policy at the Blavatnik School of Government, Ashok Gupta, Chair at Mercer Ltd, and Nico Aspinall, Chief Investment Officer at B&CE, will open up discussion on these essential topics. The series will culminate in a panel session with Chief Economist of the Bank of England, Andy Haldane.

  • The price is righter

    16 March 2021

    Spaces available

    This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.

  • Spaces available

    This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)

     

  • Spaces available

    What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code? How does effective stewardship create long term value for beneficiaries and what roles do asset owners and asset managers play in active stewardship. This webinar will offer answers to these questions in a practical approach to stewardship reporting.

  • Spaces available

    Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis.  However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year.  This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work.