QUALIFIED AND DESIGNATED ACTUARIAL MEMBERSHIP

Actuarial Society of South Africa members are part of a highly regarded profession. ASSA members who are active in the actuarial profession and in wider fields are in demand and are recognised for their problem solving skills, analytical abilities and their normative and thought leadership training. As a member of ASSA you will be part of an exclusive and sought after career, with the support of a network of elite peers through South Africa, the broader continent of Africa and globally.


How to become a member

MEMBERSHIP CATEGORIES

The right to use the acronyms AMASSA or FASSA and the title of Actuary is only granted to designated Associate and Fellow members of the Actuarial Society of South Africa, according to the code of conduct. This right does not extend to any other class of Member who are not designated or transferred Fellow or Associate members of ASSA.

ASSA considers unauthorised use of these acronyms and the title of Actuary to be in breach of the professional code of conduct and perpetrators can be reported to the ASSA Disciplinary Committee and charged with misconduct .

  • Fellowship (FASSA)
  • Associateship (AMASSA)
  • Chartered Enterprise Risk Actuary (CERA)

Fellowship (FASSA)

  1. Successful completion of the prescribed examination programme
  2. In-depth specialisation in any one of the main practice areas
  3. Met all prescribed requirements on fellowship professionalism
  4. Able to challenge thinking particularly in applying actuarial judgment
  5. Required designation for selected statutory roles in South Africa
  6. Training, experience and ability demonstrated through work based learning
  7. Eligible membership through mutual recognition subject to conditions
  8. Voting members of the society

Associateship (AMASSA)

  1. Successful completion of the prescribed examination programme
  2. Apply actuarial techniques to a wide variety of areas
  3. General background in financial risk management
  4. Met all prescribed requirements on associate professionalism
  5. Able to apply normative skills alongside technical skills
  6. Training, experience and ability demonstrated through work based learning
  7. Eligible for membership through mutual recognition subject to conditions
  8. Voting members of the society

Chartered Enterprise Risk Actuary (CERA)

  1. Successful completion of the prescribed examination programme
  2. Must be a fellow or associate member of a recognised actuarial body
  3. Globally recognised designation by CERA Global Association
  4. Able to practice as an enterprise risk management [ERM] practitioner
  5. Driving better business decisions

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NON-DESIGNATED MEMBERS

  • Honorary members
  • Affiliated members
  • Student members
  • Library members
  • Non-members

Honorary members

  1. Granted by Council
  2. To persons that have rendered or is able to render particularly valuable assistance in
  3. Promoting the objectives of the society

Affiliated members

  1. Member by examination of another professional body that specialises in one or more areas; or
  2. Partner / principal of a professional firm involved in one or more areas of specialisation; or
  3. Executive position in a business involved in one or more areas of specialisation;
  4. Two professional referrals of which at least one must be a fellow of ASSA

    Areas of specialisation include capital projects, corporate finance, derivatives, enterprise and financial risk management, general insurance, healthcare, investment, life insurance, pensions, personal finance, statistics

Student members

  1. Membership required to enter for examinations or apply for exemptions
  2. Must meet the prescribed academic and performance requirements to becoming a student member
  3. Two professional referrals of which at least one must be a fellow of ASSA

Library members

  1. Interest in actuarial science; or
  2. Provides a critical support role to members of the actuarial fraternity
  3. Not eligible for membership in another membership category
  4. Receives general communication and notices sent by the society
  5. At least one referral from a fellow of ASSA

Non-members

  1. Applies in isolated instances only
  2. Targeting persons that wish to pursue actuarial studies
  3. Not eligible for student membership
  4. No de-registration of exams permitted
  5. No credit granted