Michael Tagg has become the first person to be awarded the Certified Actuarial Analyst (CAA) qualification by the Institute and Faculty of Actuaries (IFoA).
Tagg has worked at the Government Actuary’s Department (GAD) since 1997. He provides technical actuarial support on a range of projects including pension scheme accounts and formal actuarial valuations for mainly public sector pension scheme clients.
Tagg said: "It's a real honour to be the first Certified Actuarial Analyst. My role at GAD involves a lot of actuarial technical support so when the CAA became available I thought it was a great chance to get the qualification and was exactly what I needed for my career."
According to the IFoA, the CAA is "the first globally recognised membership qualification at the technical level for those working in wider roles within financial services, such as IT and data analytics". The qualification has reached more than 400 exam registrations since June.
Fiona Morrison, president of the IFoA said: "I'd like to congratulate Michael for this outstanding achievement. It takes a lot of dedication and skill to pass actuarial exams, and I'm pleased to see Michael has made it through the Analyst qualification with flying colours."
Derek Cribb, CEO of the IFoA said: "Another global first for the IFoA has been achieved with the first qualified Certified Actuarial Analyst joining our ranks. The CAA has gone from strength to strength over the last year with applications coming in from over 30 countries. The breadth and range of careers from people now signing up for the qualification is astounding."
In March the Work Bank endorsed the qualification and said there was a shortage of actuarial resources in emerging economies.