MODERNISING ACTUARIAL EDUCATION: RECENT LOCAL AND INTERNATIONAL DEVELOPMENTS

Andrew Gladwin

PresentationAudio Recording

18 October 2017 | 13:45 – 14:45 | Committee 4

Relevant practice area(s):Education

Suggested audience knowledge level: Foundational

Abstract:

 

The global actuarial profession is now going through a period of significant change regarding actuarial education. This has been prompted by a number of actuarial professional associations around the world acknowledging that the world has changed, and what will be needed from the actuarial profession is also changing very fast. At a global level, this has been led by the Syllabus Review Task Force of the International Actuarial Association (IAA). This Task Force has come up with a new global actuarial syllabus setting out a minimum standard which the Task Force believes is needed to be an effective actuary in the 2020s. This new global syllabus is expected to shortly be adopted officially by the IAA and is already influencing changes taking place in the syllabuses of many actuarial associations around the world. Some of these changes including the incorporation of the mathematical techniques and professional impacts of the big data revolution, as well as more focus on the delivery skills of an actuary, including communication and professionalism. There is also a focus on defining the depth of knowledge and thinking skills required for each part of the syllabus to help define more clearly the competencies needed for an actuary. All of this will also allow the actuary to operate in an increasing range of roles and industries, using a powerful technical toolkit backed with the professional promise.