The Institute of Faculties and Actuaries (IFoA) and the Society of Actuaries (SOA) join forces to establish CAA Global.
This new not-for-profit, public interest organisation will oversee, deliver and promote the Certified Actuarial Analyst qualification (CAA).
It is designed to give actuarial and financial support workers a path to acquire sound technical skills within a regulatory framework that will assure public confidence in the work that they do.
IFoA president, Colin Wilson, said: "I am delighted that the IFoA and the SOA will be working together, using their combined strengths and experience of delivering high quality global qualifications, to promote and deliver the CAA qualification.
"The joint venture will help establish the CAA as a global brand for the whole actuarial profession, and we look forward to welcoming other actuarial associations who would like to participate in the initiative."
The venture supports the IFoA's original objective for a CAA initiative to introduce a consistently recognised and sought after qualification.
This is intended to facilitate growth in emerging markets where the actuarial profession is just starting to develop.
In addition it supports the IFoA's and SOA's common objectives to advance all matters relevant to actuarial science and to promote the profession in the public interest.
SOA president, Craig Reynolds, said: "The CAA is an innovative development that will enhance the skills of actuarial support professionals in traditional roles and throughout the broader financial services sector, as well as promote accessibility to the profession, on a global scale.
"We are excited to partner with the IFoA in the development and promotion of the CAA, and look forward to promoting the benefits of this globally relevant qualification."
The partners will conduct a process with other actuarial associations around the world to develop an accreditation system, enabling them to become destination organisations for qualified CAAs.
