The Quality Assurance Scheme (QAS), the IFoA’s voluntary, outcomes-based accreditation scheme for employers of actuaries, was reviewed last year to optimise value to members. It now operates with streamlined digital-first processes, offers access to exclusive QAS insights and best practice, and supports the latest diversity standards.
Here, some actuaries from accredited organisations describe some of the benefits that QAS membership has delivered for them.
Benchmarking for clients
“Clients, especially those who are themselves global, want to see global accreditations, global benchmarks being met – even in regional work. It’s important to them to see that their service providers are meeting those benchmarks. QAS accreditation is well recognised.” Raghav Ohri, senior consulting actuary at Lux Actuaries & Consultants
Internal stakeholder recognition
“When we achieved QAS accreditation, I had great feedback from senior stakeholders in the organisation. It demonstrated that, even though they weren’t all actuaries and may not have been familiar with the scheme before, they did recognise that this was an important achievement, and that it was a sign of the high standards that my team and I aspire to.” Matthew Byrne, head of actuarial function at NFU Mutual
Continuous improvement
“The QAS provides reassurance on the fitness-for-purpose of our processes from an external party. We’ve found the auditor’s recommendations on best practice and things we can do better helpful in considering how we might further improve our processes. That continual improvement, getting an external party’s view rather than just our potentially biased internal view, brings value to the accreditation.” Scott Cameron, head of actuarial and investment function at Spence & Partners
Bespoke continuing professional development (CPD) scheme
“As part of our QAS accreditation, we have chosen to opt out of the IFoA CPD programme and run our own, which I’ve helped to design – so that means we are able to directly influence the CPD carried out by colleagues to ensure their ongoing competence is maintained and is highly relevant to their role.” Jane Curtis, senior partner at Aon
To learn more and begin the process of earning accreditation for your organisation, visit actuaries.org.uk/qas
