Qualification |
Awarding body |
Exams |
Demonstrated work experience |
Professionalism |
Skill-set |
Roles |
* Following a strategic review by CAA Global Ltd (CAA Ltd) and its two shareholders, the IFoA and the SOA, the decision has reluctantly been taken to close the CAA qualification to new candidates as of October 2021. For more information, please read the announcement on the IFoA website. |
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Associate* |
IFoA in line with International Actuarial Associations (IAA) |
Actuarial Statistics - CS1 Risk Modelling and Survival Analysis - CS2 Actuarial Mathematics - CM1 Financial Engineering and Loss Reserving - CM2 Business Finance - CB1 Business Economics - CB2 Business Management - CB3 Actuarial Practice - CP1 Modelling Practice - CP2 Communication Practice - CP3 |
Yes – completion of PPD
|
Yes – Professional Skills Training |
Associates are generalist actuaries with a broad knowledge base across the span of practice areas |
Actuary Generalist actuarial roles . Increasingly there will also be opportunities in non-traditional actuarial roles |
Once you have qualified, you may choose to continue your studies to specialise |
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Fellow |
IFoA |
The examinations required for Associate and additionally: 2 x Specialist Principles modules 1x Specialist Advanced module |
Yes – 3 years completion of PPD
|
Yes – Professional Skills Training |
Specialist actuaries with a broad generalist base and a specialist skill-set in particular practice areas |
General actuarial roles, but may also include specialist roles and non-traditional roles. Opportunities to advance to Chief Actuary, Chief Risk Officer, Financial Risk Officer, Financial Risk Controller, |
Once you have qualified as an Associate or are pursuing Fellowship you can gain this specialist qualification by taking SP9 and the CERA seminar |
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Chartered Enterprise Risk Actuary (CERA) |
CERA Global |
Have completed SP9 and attended a CERA seminar |
N/A |
N/A |
Strong ERM knowledge that drives better business decisions |
Able to communicate effectively ideas with leadership and is qualified to play varying roles within an organisation, from risk manager to Chief Risk Officer and more. |
* All students joining the IFoA from 2 January 2019 will be required to qualify as an Associate before choosing to progress to Fellowship. You will do this after completing or gaining exemptions from the Core Principles and Core Practice subjects and a minimum of 2 years of PPD.