Professionalism for Experienced Members - What counts as Stage 3 activities?

Look out for new Professional Skills video case studies and online content which will be accessible via the website from October. 

These materials have been developed for the current CPD year and are designed to help members meet the Institute and Faculty of Actuaries' (IFoA’s) Stage 3 Professional Skills Training (PST) for Experienced Members.  Details of scheduled face-to-face PST events will be published shortly.

What counts as PST Stage 3 activities?

Members who reach Stage 3 of the PST regime are asked to complete two hours of learning which focuses on ethical issues each CPD year.

Any event or online activity which enhances your understanding of your professional obligations can be counted towards this requirement so long as it meets one of the following objectives:

• enhances your understanding of principles of ethical behaviour and how to apply these in making professional judgements
• enhances your understanding of what it means to act in the public interest
• equips you to make reasoned and justifiable decisions in resolving ethical dilemmas
• assists you to demonstrate ethical behaviour in conducting your professional life, and
• enables you to recognise ethical dilemmas and take appropriate action.

The Scheme allows you the flexibility to choose learning material which is appropriate having regard to your role and experience.

We create a suite of online learning resources each year and offer sessions at our conferences and events which are designed to meet these requirements. Those resources will usually be badged with our blue Professional Skills logo. If you think that an IFoA session or activity meets one of the objectives listed, but doesn’t include the logo, you can still count it towards your requirement. Just remember to keep a note of your reasons – perhaps in the "learning outcome” section of your CPD record.

You can also use activities offered by other providers to meet your Stage 3 obligations so long as they meet one of the objectives listed.  Again, it is a good idea to keep a note of your reasons in case you are selected for CPD audit.

If you do want to count a non-IFoA session or activity towards your annual two hour requirement you must make sure that the activity:

• is sourced from a suitable provider, of appropriate repute, such as a training company, a professional body, an employer of actuaries, a regulator, or another IAA member body
• allows actuaries to demonstrate a relevant learning outcome, and
• is capable of being evidenced to the IFoA in writing.

If you have any questions contact Professional Skills.