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The actuarial profession is constantly evolving according to the changing world around its existence. The role of actuaries, those journeying towards designated actuarial qualification and those who are affiliated and interested in the profession must align with increasing technology advancement, challenges like climate change and increased globalisation. ASSA provides opportunities for Student and Technical members to develop strong technical, normative, analytical and high levels of professionalism skills. All ASSA members have the opportunity to access strategic business acumen, topical matters in the public interest that will allow for impacts towards improved societal advancements and a successfully led private sector in South Africa.

DESIGNATED MEMBERS

DESIGNATED MEMBERSHIP CATEGORIES

Fellowship (FASSA)

Fellowship (FASSA)

A Fellow member of the Actuarial Society of South Africa (FASSA) is a fully-qualified and designated actuary with an in-depth specialisation in any one of the main actuarial practice areas.

A FASSA is a member who in addition to completing all the requirements of the AMASSA designation, has completed the Fellowship principles and Fellowship applications exam, the Fellowship professionalism as well as Work Based Learning (WBL) requirements. FASSAs are able to challenge thinking, particularly in applying actuarial judgement and may be selected into statutory roles in South Africa.

These are voting members of ASSA and are held in high esteem throughout South Africa and internationally and are therefore eligible for membership through mutual recognition agreements (MRA) with MRA partner institutions, subject to conditions.

Associateship (AMASSA)

Associateship (AMASSA)

An Associate member of the Actuarial Society of South Africa (AMASSA) is a designated actuary who has completed the foundation, intermediate examinations, communications as well as the actuarial risk examinations. Further to these examinations the individuals have to complete the required Normative Skills and Work Based Learning criteria.  They are considered and recognised as qualified with a general background in financial risk management. These members may be referred to with the title of Actuary.

Associate Members are voting members of ASSA and are recognised for their ability to apply actuarial techniques to a wide variety of areas.

The ASSA constitution formally describes an Associate member as a person:

  • Who has successfully completed such examinations as may be prescribed and who has met such requirements on professionalism as may be prescribed or as the Council may approve in any particular case; or
  • Who is an Associate of an actuarial organisation with which the Society has established a mutual recognition agreement and who is eligible in terms of that agreement; and
  • Who is considered by the Council to be qualified by virtue of training, experience and ability.

This member is permitted to use the acronym AMASSA and the title of “Actuary”.

Chartered Enterprise Risk Actuary (CERA)

Chartered Enterprise Risk Actuary (CERA)

A Chartered Enterprise Risk Actuary (CERA) must be a designated Fellow or Associate member of the Actuarial Society of South Africa. These actuaries have successfully completed the prescribed examination and professional course programme, which includes the Enterprise Risk Management (F106) examination and the Applied Enterprise Risk Management (C100) course. These members are recognised for driving better business decisions and are able to practice as enterprise risk management (ERM) practitioners.

CERA members with ASSA are part of the Globally recognised designation with the CERA Global Association.

This member is permitted to use the title of "Actuary"