The Certified Actuarial Analyst (CAA) is an international professional qualification available to anyone
Following its launch in 2014, the Certified Actuarial Analyst (CAA) credential has opened the door to the dynamic and fulfilling world of actuarial work. With the ever-increasing need for a financially literate workforce, regardless of sector, the CAA is proving to be of great benefit to employers and employees alike, and it's refreshing to see candidates from such varied and diverse backgrounds choosing to take the CAA exams around the globe
Derek Cribb
Chief Executive, Institute and Faculty of Actuaries
University alternatives with CAA
Many young people are questioning the need to go to university. Increased fees coupled with an emphasis shift toward apprenticeships and professional qualifications means the world of work is somewhere you can earn and learn fresh out of school or college. The CAA offers a route into the financial sector for bright, maths savvy students who chose not to go to university. The ability for the IFoA to diversify its membership whilst providing a career path which differs from the traditional route is very exciting.
The qualification is suitable for:
- School leavers who wish to learn on the job
- Graduates who are interested in actuarial work
- Employees working alongside actuaries in a support role such as data analysis, pricing
and marketing
- Anyone wishing to develop a wider skill set or to develop existing analytical skills in
a new direction
We have been delighted to see the first apprentices join the IFoA as student CAA's. Deborah Parker is an actuarial apprentice at Mercer in Manchester and is sitting some CAA exam modules as part of her apprenticeship. This is what she had to say: "I wasn't excited about the prospect of university. Getting into work and learning as I go was much more appealing to me, I love being in the workplace and working in a team and this motivates me in a way that wouldn't happen at university."
Karen Bennett, principal at Mercer added:
"Through our apprentices we are developing a strong core of employees that understand actuarial language and can support actuarial colleagues, apprentices are energetic, engaged and a real asset to our organisation. The IFoA exams covered in the apprenticeship standards provide the core learning and validation an apprenticeship scheme needs."
Chelsea Bain, resourcing consultant at LV= was also keen to add her recommendation of the CAA as a first step towards an actuarial career:
'We recognise students are discovering their professional interests, and pursuing their careers earlier in their education. So in the interest of kindling those with a passion for actuarial work, we are excited to be recruiting from schools and colleges to find our future actuarial technicians. With the introduction of the CAA, we have the study support to offer these students as they grow into their actuarial career with us, and go on to be high quality technicians to support the wider actuarial team'
Do you want your company to do more?
To find out more about the CAA and what other student members and employers have to say about the benefits of the qualification, visit:
www.actuaries.org.uk/become-actuary/routes-qualifying/what-certified-actuarial-analyst
Email: [email protected]