Since launching the exemption window on the Certified Actuarial Analyst (CAA) track in November 2014, we have seen some of our membership transfer over to the CAA route from the Fellowship path.
Hannah Rogers, an actuarial support analyst at AXA Wealth, explains her reasons for choosing to do this.
"I joined AXA Wealth in 2011 on their actuarial graduate scheme. I previously worked at Deloitte as an expatriate tax adviser and made the decision to leave to pursue a more mathematical role.
"The actuarial exams are no mean feat. Throughout my time at Deloitte and AXA I had an undiagnosed medical condition. Trying to battle this and study was not working well and my results began to show the strain.
"The CAA couldn't have come about at a better time for me. With my current CT exams, I have three exemptions, leaving me three CAA exams to complete. This will give me something to show for the hard work I've done so far, but I'm not tied into exams for several years to come, provided I do the work necessary to pass the remaining three exams. The CAA will add strength to my position and show my current and future employers that I have a sound understanding of actuarial principles as well as relevant work experience."
If you are a Fellowship student who has completed subjects CT1, CA2 and CT3 to CT6, you will be able to transfer to the membership grade of CAA at any time. This is subject to meeting the work-based skills and professionalism requirements.
A conversion assessment to enable fully qualified CAAs to transfer to the Fellowship pathway will be available from 2017/18, the point at which we anticipate demand may arise from newly qualified CAAs to continue their studies to become fully qualified actuaries.