Registration has now opened for the first CAA exams. Derek Cribb explains the benefits
I write this at a very exciting time for the IFoA. Towards the end of May we opened registration for the first Certified Actuarial Analyst (CAA) exam session, which takes place in August. This is the first new membership qualification that the IFoA has offered in many years, and it is hoped that it will help to extend actuarial knowledge to those professionals working alongside actuaries and in wider financial services in technical and analytical roles.
Why is the CAA relevant to you? Well, imagine how much easier it would be for you to do your job if those across your business and directly supporting you had a greater understanding of the work that you do. For example, you may rely on non-actuarial data analytics teams to provide you with statistics, or technical administrative support to undertake spreadsheet modelling. The CAA is targeted specifically at this group.
There is another key advantage in equipping those who work within an actuarial or analytical environment, and rely on a technical and analytical skill set, with a professional qualification. As members of the IFoA, CAAs and Student Actuarial Analysts (SAAs) are brought within the IFoA's regulatory framework, including the Actuaries' Code, continuing professional development, professionalism requirements and our Disciplinary Scheme. This goes to the heart of the IFoA's royal charter, where we operate in the public interest by helping to assure the quality of work undertaken by our members and by publicising the benefits of actuarial science around the globe.
Registration for the first CAA exam session is open until 18 July, with the first Module 0 exam in early August. I truly hope that, as an IFoA member, you can get behind the CAA and promote it across your business. I urge you to take this opportunity to consider your non-actuarial colleagues and friends and whether the CAA is relevant to them and their teams. Candidates sit Module 0, the entry test, as non-members so they can see if it is going to meet their technical and professional needs. They too can benefit from a relevant, high-quality global membership body supporting them throughout their professional careers.
If there is anything we can do to help you and your organisation's consideration of the CAA, please email us or visit our website for more details.