WBS requirement will be ending soon
Please note the WBS requirement will be ending soon. As of 1 September 2018, all students should have started PPD.
The work-based skills requirement applied to all students who joined after 30 June 2004.
What are work-based skills?
The aim of the work-based skills (WBS) requirement is to help you to demonstrate that you have put into practice the actuarial theory you gain through taking the exams.
What do I need to do?
You can find full details about this requirement in our Guide to work-based skills, but in summary you will need to do the following:
- Appoint a supervisor - this should be somebody that oversees your work and who you meet with every 6-12 months to discuss and sign off your work based skills logs.
- Complete learning logs - These are records of your "on the job" experience. They should include specific examples of work you have carried out and should contain a detailed explanation of how you have demonstrated the particular dimension in the workplace.
- Answer review questions - These are pieces of written work, presentations or other work which you have produced and they must be discussed and signed off by your supervisor. They should be written in an essay style and contain be between 500-1000 words. Bullet points may be used within the essay.
Please read our Guide to work-based skills for further information.
What do I have to do once I have passed all the exams and have at least the minimum amount of work-based skills records?
- You will need to meet with your supervisor for a final time and complete a final sign off form.
- You will need to submit your learning logs, final sign off form and payment to Education Services within 60 days of completing the final learning log.
How should I send my logs?
- Logs should be emailed in either a PDF or Word format (no jpeg or photos) clearly labelled and in date order. For example: Log 1 and ARN; Log 2 and ARN; Final Sign Off and ARN; Review question C3 and ARN etc.
- If logs are not received in this format they will be sent back to you to correct before they can be processed.
- You may post your logs to Education Services if you prefer.
- If you are submitting a mixture of Work-based Skills and PPD this should be indicated clearly in date order on the final sign off form with any gaps explained.
To be recorded as a 2019 qualifier you will need to meet the following deadlines by:
|Friday 24 January 2020||Have completed your PPD requirements, alongside send us all your learning logs and review questions, and a final sign off form completed and signed by a Fellow of an International Actuarial Association.|
|Friday 28 February 2020||Resolve any final queries on your documents and have these signed off by us.|
|Friday 6 March 2020||Sign and return the transfer form that we will send you.|
- 16 January 2019
- 6 May 2015
- 24 September 2019
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General information and practical advice that will be useful in your studies
Education Services Team
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Maternity or paternity leave, sabbaticals to study or travel, managing care responsibilities or escaping unemployment – Join Chika Aghadiuno and a panel of IFoA guests including Rachel Vecht, Women Ahead (International), Lee Faulkner, Financial Wellbeing Actuary, First Actuarial, Emily McGuire, Partner at Aon Hewitt, and Sarah Mathieson, Head of Research and Knowledge, IFoA, to ex
The (re)insurance industry is faced with a growing risk related to the development of information technology (IT). This growth is creating an increasingly digitally interconnected world with more and more dependence being placed on IT systems to manage processes. Note: Registration is from 17.30 in time for the sessional to begin at 18.00.
The IFoA’s President-elect Tan Suee Chieh will visit Shanghai. We will host CPD and Awards Presenting event on Monday 9 December 2019. The event is part of Mr Tan’s first presidential trip to China.
This event will be of interest to students and recently qualified actuaries.
A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020. The content and discussion at this session is particularly tailored to actuarial students and newly qualified actuaries working in any area and the format is interactive, so you should come along prepared to take part in the discussions with your peers.
The IFoA’s President-elect Tan Suee Chieh will visit Beijing. We will co-host CPD and Awards Presenting event with the Sunshine Insurance Group on Thursday 12 December 2019. The event is part of Mr Tan’s first presidential trip to China.
Presenter Bill Curry
The authors will focus on a large dataset obtained from the UK’s Office for National Statistics (ONS) and related sources. Data are available at the level of Lower Super Output Areas (LSOAs) – small geographical areas with, typically, 1000-2000 residents and include death counts, exposures and a significant number of socio-economic variables including the index of multiple deprivation (IMD).
Patrick Lee is an actuary who has made the transition to working in software architecture and artificial intelligence (AI). He holds Microsoft Professional qualifications in Data Science, Big Data and AI and is currently working towards a DevOps (the automation of software testing and deployment) qualification. He is a member of the IFoA Council and is also President of the Wessex Actuarial Society. He is also a member of the IFoA and the RSS's joint Data Science Focus Group and will talk on the ethical use of AI.
The event will be chaired by Brandon Horwitz, an actuary who is a consultant who has held various investment governance roles and who specialises in investment governance as well as being an iNED.
This presentation covers the detail for how the matching adjustment is calculated. A small simple example spreadsheet is provided and discussed in detail.
For actuaries wanting to get more involved with the matching adjustment, this is the opportunity to get a detailed description of the mechanics involved. This includes cashflows derisking, PRA tests as well as hypothecation.
The presentation is provided by James Sharpe who has worked on a number of matching adjustment calculations with several firms.
As a thank you to all our Institute and Faculty of Actuaries (IFoA) volunteers, you are invited to join us at Staple Inn Hall, for an evening of drinks, canapes and networking, in London.
IFoA President, John Taylor, will be attending and will make a speech
If you support the IFoA as a volunteer (member or non-member), or in any other role, and you are going to be in London on 15 January, please book your place and join us at this reception.
The Operational Risk Working Party aims to assist actuaries and others in the modelling and management of operational risk. One of the key challenges in modelling operational risk is the modelling of dependencies between operational risks, and between operational and non-operational risks such as market, credit and insurance risk. Their paper seeks to assist in this regard, and help develop good practice in setting assumptions and modelling operational risk dependencies.
Presenters: Rebecca Deegan, Head of Policy, IFoA, and Faye Alessandrello, Policy Manager, IFoA
This sessional will be delivered by members of the research team working on the ARC “Big Health & Actuarial Data’ research programme, led by Professor Elena Kulinskaya (University of East Anglia).
A Trusted Profession
A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.
This sessional meeting will be of direct interest to actuaries and others working in the in the Health and Care, Life or Pensions sectors or indeed actuaries with an interest in morbidity or mortality. Note: Registration is from 17.30 in time for the sessional to begin at 18.00.
A Trusted Profession
Presenter: Mark Pibworth
What next in Economic Policy?
Please join us on 25 March 2020 for our annual Spring Lecture presented by Vicky Pryce in Edinburgh.
Presented By: Rebecca Deegan, Head of Policy, IFoA, and Catherine Burtle, Senior Policy Analyst, IFoA
The sixth annual Asia Conference once again offers a prestigious line-up of home and international speakers discussing the insurance and financial industry’s innovation and change in Asia. This year's conference in Kuala Lumpur will be hosted by Tan Suee Chieh, IFoA’s first Asian President. He will also make his Presidential address at this conference and will expand on the important elements of IFoA’s new strategy.
Additionally, this landmark conference will showcase how the IFoA is reinventing itself to support its members to succeed and thrive in a digital age, within traditional businesses and beyond, as a global organisation.
Not to be missed by international industry players, opinion formers, academic and industry leaders, actuaries and non-actuaries.