What is the QAS?
The QAS is a scheme established in 2016. Membership demonstrates an organisation’s commitment to high quality actuarial work and to supporting employees carrying out that work. There are five outcomes underpinning the QAS, which are designed to help organisations to support the professional responsibilities on their actuarial employees. The Outcomes are set out in section 2 and the Appendix of APS QA1.
Who can apply?
Any organisation, or identifiable part of an organisation, that employs IFoA Member(s) carrying out actuarial work can apply.
What does accreditation involve?
The accreditation involves assessment of an organisation’s policies and procedures to ensure that a high level of quality is embedded in the working environment. Assessments will involve interviews with your organisation’s employees as well as consideration of the policies and procedures in place. As well as ensuring that an organisation has in place appropriate policies and procedures, the assessors will establish whether they are embedded within the organisation’s culture and are being applied by employees A likely outcome of the assessment is recommendations being made which should help improve these policies and procedures.
A monitoring assessment will take place in year 3 or 4 of your accreditation and each year you’ll complete an annual return to enable the IFoA to ensure that you continue to meet the outcomes.
Accreditation lasts for six years but all QAS Members are encouraged to maintain their accreditation.
How do we apply?
Simply complete the application form and send it to firstname.lastname@example.org. We will guide you through the rest of the process, which will involve arranging the assessment visit and then referring your application to the QAS Sub-Committee.
How long will accreditation take?
It generally takes around four months to complete an accreditation process, depending on availability for assessment and the timing of the QAS Sub-Committee meetings, which take place every quarter. We’ll keep in touch with you throughout the process.
How much does it cost?
The QAS is a not-for-profit initiative. It is necessary to charge a fee in order to cover costs and ensure that the QAS is an effective accreditation scheme which provides real benefits for those who participate in it.
An annual fee is payable by each organisation, as well as an application fee. The fees have been divided into four bands, with set criteria for each (these generally relate to turnover and the number of employed IFoA Members).
What is a SQAR/Lead SQAR?
When you apply for QAS accreditation you will need to nominate at least one Senior Quality Assurance Representative (SQAR). SQARs should be of sufficient seniority, knowledge and experience that they have direct access to the decision making function/board of your organisation, and they should also be able to influence the operational management. If there are a group of SQARs, they should be prepared to explain how they will work together as part of the application process. See section 16 of the QAS Handbook for more information.
What is the SQAR Forum?
The SQAR Forum is usually an annual conference style event during which SQARs benefit from a range of speakers and sessions and have the opportunity to network and share ideas and experience with eachother. Its role is to share good practice on processes and procedures amongst participating organisations and to discuss relevant issues. Special seminars and training events will be open to participants on current hot topics. In 2020, because of COVID-19, this been replaced by a series of webinars, which are held every quarter.
What are the other benefits of QAS?
There are a number of benefits to membership of the QAS, they include
- Use of the QAS ‘mark’ for promotional purposes and marketing (including recruitment of actuarial talent and tendering for actuarial work)
- An independent and confidential assessment of policies and procedures relating to the QAS Outcomes, providing insight and with best practice recommendations
- Access to SQAR Forum and to networking opportunities with peers
- Key IFoA contact
- Access to the QAS CPD Scheme
Quality Assurance Scheme
QAS Team, Institute and Faculty of Actuaries, Level 2 Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA
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Wicked Problems, Clumsy Solutions and Leading Change
Dr Catherine Donnelly will present the basics of the structures for pooling longevity risks and summarise recent research results in this area in addition to outlinging future research around this topic. This is work under a research programme funded by the IFoA's Actuarial Research Centre, called 'Minimizing longevity and investment risk while optimising future pension plans'.
Climate-Related Risk - This free to view webinar on Climate-Related Risk is the first in a series focusing on some of the ‘Hotspots’ identified in the JFAR Risk Perspective bringing the Risk Perspective to life with practical illustrations and insights from subject experts from the IFoA and other Regulators
Recent decades have seen institutions, such as employers and financial services, give people more choice and flexibility, but these freedoms have come with more responsibilities. Individuals are now responsible for managing more of their own financial risks, from ensuring they put enough money into their pension to securing affordable protection to be financially resilient.
Join us for this brand new IFoA webinar weries comprising of a fortnight of webinars, panel sessions and a hackathon, that showcase the range of ways in which the actuarial profession has added value, in the public interest, to the understanding and management of the current and future pandemics through insight and learning.
This event is now temporarily closed on Monday 26 April, but the session will be repeated on Tuesday 27 April, 09.00-10.30. Please click here to register your place.
Actuaries have a lot to offer biodiversity management over the next decade as the world develops more depth to its response to this global challenge. This sessional offers an opportunity to learn about this emergent risk, to contribute to our thinking as a profession and help us develop the next steps forward.
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Europe Town Hall, hosted by John Taylor with IFoA Council Members Alan Rae, Jennifer Hartley, Maribel Vasquez Flores and IFoA Chief Executive, Stephen Mann.
Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis. However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year. This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work
This year's Finance and Investment Virtual Conference takes on the timely theme of ‘resilience’, something we have all learnt a lot more about in the last year! Our diverse range of talks will explore the theme of resilience in a variety of ways including in building robust investment portfolios, in the incorporation of ESG factors, in govern
This talk will explore the potential benefits that wearable tech can bring to health & protection insurers and their customers. The traditional approach of integrating wearables into insurance has largely focused on measuring steps and using rewards-based incentive programs to encourage more activity.
Join us for this talk with Professor Sir Adrian Smith as part of the 'Dr Patrick Poon Presidential Speaker Series'. Professor Smith joined The Alan Turing Institute as Institute Director and Chief Executive in September 2018. In November 2020, he became President of the Royal Society, in addition to his leadership of the Turing. He is also a member of the government's AI Council, which helps boost AI growth in the UK and promote its adoption and ethical use in businesses and organisations across the country. He received a knighthood in the 2011 New Year Honours list.
We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.
Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.