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Certified Actuarial Analyst (CAA) membership

Certified Actuarial Analyst (CAA) is a new membership qualification offered by CAA Global for those working in a technical actuarial support role

CAA Global logoWhat is CAA Global?

CAA Global is a joint venture of the Institute and Faculty of Actuaries (IFoA), based in the United Kingdom, and the Society of Actuaries (SOA), based in the United States.  Formed to offer the Certified Actuarial Analyst (CAA) qualification around the world, CAA Global educates sharp minds to meet the growing need for professional analysts, particularly in financial services.

Find out more about CAA Global

What if I am a member of the IFoA studying for CAA?

It is important to stress that the CAA qualification, and the way you study for and take your exams, is not changing.  All that is changing is that you will no longer need to be a member of the IFoA to take the CAA exams.  Those of you who have recently sat CAA exams will receive your results from the IFoA.

You have a choice to make about your current membership of the IFoA as a Student Actuarial Analyst.

You have two options:

  1. You can retain your membership with the IFoA.  You will continue to enjoy all the member benefits associated with the IFoA and continue to be regulated by the IFoA while you study for your CAA qualifications.  You will need to continue to pay your annual membership subscription to the IFoA, but exam fees will need to be paid to CAA Global.
  2. You can stop your student membership of the IFoA.  You will receive a full refund of your 2016/2017 subscription and we will register you with CAA Global.  CAA Global will be responsible for regulating you while you qualify as a CAA.  As you already paid an administration fee when you joined the IFoA, you will not have to pay an administration fee to register with CAA Global. 

You will need to inform us by 31 December if you would like to retain your student membership status of the IFoA (option 1 above).  If we do not hear from you by this date, we will automatically register you with CAA Global, which will trigger your subscription refund.

Needless to say, once you have qualified as a Certified Actuarial Analyst we would be delighted to welcome you back to the IFoA as a full member.

For a full list of FAQs, please see our CAA Global FAQ page

Who is the qualification is suitable for:

  • school leavers who wish to learn on the job
  • graduates who are interested in actuarial work
  • employees working alongside actuaries in a support role such as data analysis, pricing and marketing
  • anyone wishing to develop a wider skill set or to develop existing analytical skills in a new direction.

Qualification time for the CAA is approximately two years

Most candidates studying for the CAA qualification will do so whilst continuing to work full time in a support role.  To qualify, you will need to pass six exams: Module 0 which is an entry test, and five further modules.  Of these, modules 1-4 are assessed by computer based training; module 5 is a practical online exam.

The qualification is equivalent to a Foundation Degree or the first two years of an undergraduate degree

This equates to Level 5 on the UK’s Qualification Credit Framework.

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