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Banking Education for Actuaries

Actuaries have long been involved in banking but there is little material to support actuaries looking to enter this field. Recent regulatory and market changes have highlighted the career opportunities that currently exist for actuaries within the world of banking.

This aim of this working party is to investigate the educational topics and explore the delivery mechanisms that would best serve the needs of actuaries looking to pursue a career within the banking sector. It is hoped that by equipping actuaries with specific banking knowledge they will have greater confidence to pursue their career ambitions in this sector.

With the introduction of IFRS 9, the regulatory need for banks to produce ICAAP reports, the emergence of challenger banks, and the use of big data by banks, banking has emerged as a promising field for actuaries. Actuarial associations worldwide have started offering a specialized paper on banking within their educational framework for members.

In the Institute & Faculty of Actuaries (IFoA) there is currently a finance and investment (F&I) paper that briefly covers banking within the syllabus. However, in the interest of members and market needs there seems to be a need for more specific actuarial education for actuaries looking to enter the field of banking. Hence, the Banking Member Interest Group (MIG) has set up a Working Party to investigate and explore this opportunity.


Chair Dick Rae
Membership 13
Established 2020


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If you want more information about this research working party please contact the Communities Team.

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E.g., 26/09/2021
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Events calendar

  • Spaces available

    A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa.

    This event is part of The Road to Glasgow: IFoA’s Sustainability Thought Leadership Series which will provide a platform for prominent contributors so that our members and others can understand the perspectives of a wide range of parties interested in the climate debate.

  • Spaces available

    Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.

  • Spaces available

    How governments and societies collectively respond to the climate crisis is increasingly being analysed through the lens of intergenerational fairness. Our expert panel will assess and explore the extent to which inter-generous fairness is being considered in climate policies, the lessons from those countries who are leading the way on fairness and justice in climate interventions, and more.

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Spaces available

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

  • Spaces available

    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.