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FAQs

Importance and benefits of the QAS Scheme

  • Why is it important?
    The QAS mark demonstrates commitment to high quality work. The accreditation involves independent assessment that the right policies and procedures are in place to ensure that a high level of quality is embedded in the working environment of the Organisation. You will also be in a better position to align your own business processes with the professional requirements imposed upon your employees.
  • What are the benefits if I am a large Organisation?
    The QAS mark will demonstrate that you have the right working culture to get the best from your employees. A supportive work environment leads to a high quality of work resulting in better outcomes for the business, for clients and for gaining a competitive edge. As a large employer you need to attract and retain the best talent, the QAS mark will demonstrate to actuaries and other potential employees that you value and are committed to excellent actuarial work.
  • What are the benefits for small and medium sized consultancies?
    The QAS mark will be a useful marketing tool for your organisation in terms of actuarial service, for example, when tendering for work. You can use the QAS mark on your marketing material and stationery to communicate your achievement of the accreditation and your association with the IFoA globally recognised brand. You have the opportunity to share experiences and how others do things with other Organisations, both large and small through the Senior Quality Assurance Representatives Forum.
  • What are the benefits for me as a public body?
    Acting in the public interest, the IFoA has a role to promote high quality actuarial work in Organisations where our members are working. Ensuring the right policies and processes and culture are in place and are being applied will lead to better outcomes for the public. Being part of the QAS means demonstrating that an Organisation is meeting the high standards required of accredited firms. For those who have a regulatory function, it means showing that the Organisation is at least meeting the same standards in terms of quality assurance as those who it regulates.

About the QAS Scheme

  • What does the Scheme entail?
    The QAS is outcomes focused and looks at whether an organisation is meeting those outcomes, rather than on how it achieves them. This is a voluntary scheme open to any organisation (or identifiable part of an organisation) that employs IFoA members, irrespective of the type of work they do. An independent assessment team will conduct qualitative interviews with a range of staff. As well as seeing that an organisation has in place appropriate policies and procedures, they will be looking at whether they are embedded within the culture and are being applied by employees.
  • Why is the fee structured in this way?
    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 seen as the most simple and straightforward approach and the fee structure has also been designed to be as fair as possible and to make the QAS as accessible to any potential applicant.
  • How does an organisation apply?
    If your organisation wishes to apply for the QAS you will need to complete and return an application form. These forms are available on our Quality Assurance Scheme (QAS) page.
  • How soon after application will the assessment happen?
    The precise dates for assessment will be agreed between the Organisation and the assessment team.
  • What is the role of the Senior Quality Assurance Representatives Forum?
    The Senior Quality Assurance Representatives Forum comprises senior appointed representatives of accredited firms. Its role is to share good practice on processes and procedures amongst participating organisations and to discuss relevant issues. It will work in partnership with the IFoA to develop relationships with regulators and other external stakeholders. Special seminars and training events will be open to participants on current hot topics.

Contact Details

Quality Assurance Scheme

qas@actuaries.org.uk

QAS Team, Institute and Faculty of Actuaries, Level 2 Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA

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Start date
E.g., 12/08/2020
End date
E.g., 12/08/2020

Events calendar

  • Spaces available

    A Trusted Profession

    This free 1 hour CPD webinar is designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020 and 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.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    Modelling the structure and trends of cancer morbidity risk is important for pricing and reserving in related health insurance fields such as critical illness insurance and care provision. We model the dynamics of cancer incidence over time in different regions in England, using 1981-2016 ONS data. The modelling allows estimation of cancer rates at various age, year, gender and region levels, following a Bayesian setting to account for statistical uncertainty. Our analysis indicates significant regional variation in cancer incidence rates. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    In this talk we will outline the steps Aviva took in pulling together our first large-scale disclosures on the exposure of our business to climate change published in March 2019; in line with the recommendations of the Taskforce on Climate-related Financial Disclosures. After touching on why insurers have such an important role in climate change, we'll cover a brief “how-to” guide for those who have not yet embarked on thinking about these topics before giving a case study of how the learnings from a TCFD disclosure exercise can be applied to investment portfolios.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    The insurance industry currently underwrites customers with diabetes based on a range of factors, medical expertise and various medical studies. The work undertaken by the Diabetes Working Party would help the industry to approach this using current research findings to update and enhance how potential risk from diabetes is considered. This includes the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes. This webinar will present our latest findings in the management of this important chronic condition which will include research in collaboration with the ARC. 

  • Fully booked.

    This event is now fully booked. To join the wait list, please register here.

    Get ready for the new CPD Scheme launching on 1 September. Join us for a discussion on what the new Scheme will look like in practice. There will be an opportunity to field questions to the IFoA Executive on how the Scheme’s requirements will affect you.

  • Asia Conference Webinar Series

    Webinars
    1 September 2020 - 24 September 2020

    Spaces available

    There will be a prestigious line-up of international speakers discussing the insurance and financial industry’s innovation and change in Asia.  The conference will take place throughout September via an online platform. The webinars consist of plenary speaking sessions and a series of workshop sessions including Life, GI, Data Science, Sustainability, Risk Management and Investment.

    This will be the perfect opportunity for you to discover,ask questions and be at the forefront of current and developing actuarial/financial topics and trends in Asia.

     

  • Spaces available

    In this webinar we will provide an insight into enterprise-wide risk management in banking, showing similarities to the world of insurance as well as identifying differences. Just as insurance companies have to submit an ORSA, so bank’s have to submit their own equivalent, the Internal Capital Adequacy Assessment Process or ICAAP.

  • Examination Preparation

    Webinar
    10 September 2020

    Spaces available

    IFoA Webinar on Examination guidance for those candidates sitting Examinations in September, delivered by the Education Actuaries

  • Spaces available

    This free 90 minute webinar is designed to support the IFoA CPD Co-ordinators, and others, involved in supporting our members to achieve their CPD requirements. 

    The programme will include an overview of the new CPD Scheme; specifically sharing with you key messages to support you implement and embrace the new CPD Scheme for our members within your organisation and regional community; how to arrange a reflective practice discussion; and an interactive reflective practice discussion learning exercise.  In addition, delegates will gain information about accessing, and making the most of the IFoA event Toolkits which you can make use of to run your own in-house events and events for regional communities.