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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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.
Launch of the IFoA’s 2020 thought leadership campaign The Great Risk Transfer. The campaign will examine the trend of the transfer of risk from institutions to individuals, and how people can be better equipped to manage the financial risks they now face. At this breakfast event the IFoA will launch a call for evidence on this topic.
Presenters: Rebecca Deegan, Head of Policy, IFoA, and Faye Alessandrello, Policy Manager, IFoA
This event is now fully booked. To join the waiting list please click here.
Jignesh Mistry and Rob Walton from PwC will be presenting their talk on the IFRS17 Risk Adjustment. Please note this talk was also held at the 2019 Life Conference.
This session is jointly organised by the Institute and Faculty of Actuaries (IFoA) and the Society of Actuaries of Thailand (SOAT).
Video case studies will be selected from the IFoA’s 2019/2020 online content which covers a range of topics under an overarching theme of “A Trusted Profession”. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.
What do good cyber practices look like and, to what extent, can we as an industry implement these operationally and recognise these for underwriting?
With a single party government at Westminster holding a comfortable majority, and with the first phase of Brexit complete, the potential for radical reforms of the pensions landscape is increased.
Former Pensions Minister Steve Webb discusses what changes we can expect to see in pensions including in state pensions, pension tax relief, automatic enrolment and the workplace pension landscape.
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.
Presenter: Mark Pibworth
The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:
Speaker: Dr Marc Roper
This event will cover the highlights from the Life Conference 2019 held in Dublin.. The Conference Committee has reviewed session feedback and has put together a high-quality technical programme featuring the best sessions from the Life Conference 2019. Book now to ensure your place.
The world of Data Science continues to exponentially grow with unknown limits and where it can reach. However, without data we will all still face these challenges in our day to day life.
Recent years have seen ESG, Climate Change, and Responsible Investing thrust onto the corporate agenda in every boardroom. The same also be said for pension funds. Expectations of how companies should respond are high and NEDs on Boards are expected to adapt and adjust their guidance to companies accordingly. What does this mean for Actuaries serving as NEDs and Trustees?
Speaker: Iain Collier, Chair of the CSWP
The talk will look to cover the following: Progression towards a Cashless Society • Developments home and overseas • Benefits, Risks and Issues • Crypto Currencies and Central Bank Digital Currencies.
There will be an extended Q&A session at the end of the event.
What next in Economic Policy? Please join us for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).
This event will be live streamed from Edinburgh.
What next in Economic Policy? Please join us on 25 March 2020 for the live stream of our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).
Presented By: Rebecca Deegan, Head of Policy, IFoA, and Catherine Burtle, Senior Policy Analyst, IFoA
Following the release of the updated CMI Mortality Projection Model, CMI_2019, the CMI Mortality Projections Committee will lead a discussion on future mortality improvements.
Join us at the IFoA Asia Conference 2020 at CCEC Nexus, Kuala Lumpur where intellectual thought leaders, senior industry players, opinion formers, academics, actuaries and non-actuaries from across Asia and beyond are expected to attend. This year's landmark conference promises to an exciting one as our first Asian President-elect, Tan Suee Chieh will, as newly appointed president of the IFoA, use his presidential address to highlight the two key pillars of the IFoA’s emerging strategy:
- the reinvention of the profession in terms of its skillsets and mind-sets so that we can thrive in an increasing range of domains in a digital age;
- the widening application of actuarial science in achieving social impact and sustainability goals.
We are also delighted to announce that the Honourable Mr. Lim Guan Eng, Minister of Finance, Malaysia, will be the guest of honour at this year's conference.
Early bird registration is now open until 1 March. 10% group discounts are offered to a minimum of six IFoA members booking in a single transaction. Limited spaces are available, so please sign-up early to avoid disappointment.