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QAS CPD Scheme

From early 2020 the Institute and Faculty of Actuaries (IFoA) has made an outcomes-focused Continuing Professional Development scheme as an option available to all organisations accredited under our Quality Assurance Scheme (QAS)

Over coming weeks the IFoA will be updating all relevant documentation regarding the QAS, to incorporate the option for QAS organisations to adopt outcomes focused CPD. This will include updates to the QAS Handbook, as well as the QAS Application Form and Annual Return Form. It will also mean changes to the way in which review visits and interim visits are conducted for organisations choosing to participate in outcomes-focused CPD.

We have produced a set of Question and Answer below to help QAS organisations understand the difference between the approaches to CPD that will be available to them for the 2020/21 CPD year. As we develop these materials and introduce these changes, we will remain in touch with all Senior Quality Assurance Representatives to ensure that you are well equipped to make decisions about the best approach for your organisation.

Once these materials are available, you will be able to find them on this webpage. In the meantime, and to understand better what may be involved in outcomes focused CPD, please refer to the CPD Pilot page. The material found on this page will be the basis on which the changes and adaptations to QAS documentation and processes will be based.

QAS CPD Scheme - Question and Answer
Is the QAS CPD Scheme any different to the outcomes focused CPD Pilot?

Excepting some adjustments to the related guidance, there are no substantive changes from the pilot to the QAS CPD Scheme now offered.

How does an organisation go about introducing the QAS CPD Scheme?

All you need to do is indicate interest on your QAS Application Form. If your organisation is already accredited, you can simply get in touch with the QAS team and we will guide you through the process (qas@actuaries.org.uk).

How will organisations be assessed as suitable for the QAS CPD Scheme?

If your organisation is interested in adopting the QAS CPD Scheme, please get in touch and we will let you know how best to have suitability assessed. This may be via a short assessment visit or video call, or we might be able to add the assessment to your QAS Interim Visit.

In all likelihood organisations who participated in the CPD Pilot will not need to be reassessed. However, if an organisation chooses to make any significant changes to their policies following the CPD Pilot then reassessment may be necessary, along the lines outlined above.

All organisations should note that the QAS Sub-Committee reserves the right to make changes and adaptations to the assessment criteria for the QAS CPD Scheme. Under such circumstances any participating organisation may be subject to further assessment as part of a short visit, video call, or as part of an Interim Visit. However, please note that there are currently no plans to change the assessment criteria used during the CPD Pilots.

Under the QAS CPD Scheme, will members have to carry out a certain number of hours of CPD activities?

The IFoA will not require members within participating organisations to complete a set number of hours. It will be up to organisations to decide how to implement the outcomes focused QAS CPD Scheme, and this may include, at their discretion, a time based requirement.

Will members within participating organisations be subject to the proposed reflective practice discussions?

The IFoA will not require members in participating organisations to comply with the proposed reflective practice discussions. However, organisations may choose to include reflective practice discussions, or similar, as part of their arrangements to implement the QAS CPD Scheme. Organisations may wish to note that in pilot of the outcomes focused scheme, feedback suggested that these types of discussions were one of the most useful aspect of the arrangements.

What happens if members move organisations throughout the year, either leaving or joining an organisation subscribing to the QAS CPD Scheme?

Individual members will be responsible for updating the IFoA of this sort of move to or from a QAS CPD organisation, and our membership team will be able to advise of the pro rata hours to which members may be subject under the hours based scheme.

From when will the QAS CPD Scheme be effective?

The scheme will be effective from September 2020 to align with the proposed change to the start of the IFoA’s CPD year.

Do all members at a QAS organisation subscribing to QAS CPD need to participate?

All members employed at a QAS organisation, or relevant part of an organisation, except students, will need to participate in the QAS CPD Scheme if the organisation has adopted it.

Will student members still be required to meet Personal and Professional Development (PPD) requirements?

The QAS CPD Scheme does not apply to students, therefore, students will continue to be subject to the same Personal and Professional Development (PPD) requirements.

Will members still be required to log CPD activity with the IFoA?

The IFoA will not require members working at participating organisations to log their CPD activity with the IFoA. However, the option to continue to complete the CPD log will remain available for individuals who find it personally useful.

How will the QAS CPD Scheme be monitored?

There will be an additional question on the QAS Annual Return Form asking about your organisation’s approach to the QAS CPD Scheme. There will be no change to the due date of Annual Returns.

If an IFoA member needs to meet CPD requirements to satisfy a different membership body, how will the QAS CPD Scheme work?

On request, the IFoA will provide any member employed by a QAS organisation operating the QAS CPD Scheme with written confirmation that their employment at such an organisation means their CPD requirements are as set out by their employer through the implementation of the QAS CPD Scheme. However, it will be up to each membership body to decide whether or not this is acceptable evidence that members have met that body’s CPD requirements.

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