Actuary Brochure

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Actuary Brochure Our actuarial professionals play a critical role in society and enjoy benefits available to members of the SOA: • Advanced actuarial and risk management education and knowledge-sharing opportunities • Extensive professional development/ continuing education programs • Access to a variety of publications and the most research activity on a wide range of current pertinent topics that will help in their roles as actuarial professionals • Social and professional networking communities • Members-only pricing on widest array Educating actuaries. Advancing a profession. Impacting society. of extensive professional development opportunities • The ability to take part in professional interest groups—20 from which to choose Take a closer look at the SOA at soa.org soa.org I asia.soa.org I [email protected] I +1 847.706.3500 475 North Martingale Road, Suite 600 I Schaumburg, Illinois 60173, USA From the current state of public pensions to the changing role of big data in business, we see the potential impact of risk—and the growing need to better mitigate it—around the world. That’s why we’re here. We are the Society of Actuaries (SOA), the largest global professional actuarial organization in the world. Every day, our more than 26,000 members in 78 countries take a closer look at the bigger picture of risk. Asking the questions that dig deeper. Mining data for solutions that Risk is everywhere. have a positive impact on business and society. A pioneering organization with unmatched research and education resources, we foster innovative thinking on real-world challenges. Together, we cultivate the well-rounded professionals trusted to bring better decisions into focus. We educate the actuaries trusted to drive better business decisions and promote financial security in an ever-changing world. A state-of-the-art system of education World-renowned marks of distinction The SOA is recognized around the globe for the strength and quality of our curriculum and our Rigorous, comprehensive and structured to uphold the highest standards of integrity and credentials. With a philosophy of continuous improvement, we provide a world-class system of professionalism, a credential from the SOA is well respected, highly portable and recognized by actuarial education supported by a strong staff and more than 1,100 actuaries with current practical regulatory bodies around the globe. actuarial experience and educational expertise. Demonstrating a mastery of risk management and analytical skills, SOA credentials include: Highly practical in nature—using real-world examples, case studies and modules—the SOA system of education gives members the risk management, analytical and communication skills needed to contribute at a higher level to organizations around the world. Our curriculum and content are up to date, relevant and grounded in professional education theory Associate of the Fellow of the ASA Society of Actuaries FSA Society of Actuaries and best practices. They feature: An ASA has demonstrated knowledge of the With the addition of the General fundamental concepts and techniques for Insurance FSA track, the SOA now offers • A robust, standardized grading and modeling and managing risk, and knows how a full range of pathways to Fellowship. assessment process to apply those concepts to common problems involving uncertain events. • Corporate Finance and • Grounding in all areas of actuarial education Enterprise Risk Management prior to specialization • Finance and Investment • Six professional specialty tracks covering all • General Insurance/ Chartered Enterprise areas of actuarial practice CERA Risk Analyst® Property Casualty • Health Insurance The most comprehensive and rigorous • Convenience in choice of exam centers and demonstration of enterprise risk expertise frequency of exams offered • Life Insurance and Annuities available, the CERA credential from the SOA reflects the changing face of enterprise risk • Retirement Benefits • Candidate support resources management and the rigor of the SOA’s examination. • Strict professional codes of conduct to which all members and candidates are held Together, we work to advance the actuarial profession and make a positive impact on business and society. A guiding force behind the profession We invest heavily in the future of the actuarial profession, focusing on innovative ways to advance actuarial knowledge and move it forward. We’ve introduced e-Learning modules, computer-based testing, virtual sessions and the Chartered Enterprise Risk Analyst® (CERA) credential, and we are trusted to prepare actuaries that organizations call on to drive better risk management decisions across nearly every industry. A commitment to leading-edge research As the largest professional actuarial organization in the world, the SOA has extensive resources devoted to research. This empowers us to take on a wide range of topics on the cutting edge of industry trends and needs— topics that have a real impact on business and society. From public employee pension funding to research into the effects of longevity on the economy, our members seek answers that help guide policy and business decisions and shape the world around us. A global network like no other Members of the SOA are part of a distinguished group, with actuarial credentials that are among the most highly valued in the world. With more than 36,000 active candidates from approximately 100 countries, we have a vast network of professionals and resources available to help individuals further their professional capabilities through rich development, leadership and volunteer experiences. Members can also help shape curriculum, contribute to the development of thought leadership and research, and more. .
Recommended publications
  • Actuaries Abroad
    Actuaries Abroad California Actuarial Student Summit 2019 UC Santa Barbara Andrew Peterson, FSA, EA, MAAA Senior Director, International, SOA May 25, 2019 Discussion topics ▪ Global actuarial profession ▪ Becoming an actuary & SOA pathway ▪ Working internationally: qualifications & job market 2 Around the Globe – Snapshot Global Actuarial Profession (Total ~80,000) 2% 0% 3% 4% North America 8% Europe Asia 44% Oceania Latin America Africa 38% Middle East Estimated results based on 2018 Intl. Actuarial Association (IAA) data; distributions are approximate due to potential overlap in membership in different regions. 3 Around the Globe – Snapshot SOA Global Footprint (2018) SOA Members + Candidates in Asia (2018) 2% 1% 1% 1,261 22 China 4% Hong Kong 4% 1,221 3,048 United States Malaysia 5% 30% Canada Korea, Republic of China Taiwan 11% 5,213 Asia-Pacific Thailand 20,560 Singapore Latin America 11% Philippines Rest of the World 20% Vietnam 11% Japan Members : 31,325 Indonesia CAS Global Footprint (2018) IFoA Global Footprint (2017/18) 135 186 79 105 UK 538 4,765 US 903 India 559 Canada Ireland 1185 Bermuda South Africa 1636 China/HK/Singapore China 16253 6,944 UK/Switzerland ROW ROW 6064 Members : 8,352 Includes both Actuaries (~15,000) + Students (~16,000) = ~31,000 4 Becoming an actuary & SOA pathway Becoming an Actuary – 4 Primary Intl. Credentials SOA (US)—ASA, FSA • Practice Areas: All covered • Choose specialty track after obtaining ASA • Self-study or university curriculum to master actuarial concepts • Advance through series of exams to earn credential • Complete/attend certain modules/courses https://www.soa.org/education/general-info/default/ CAS (USA)– ACAS, FCAS • Practice Area: Property & Casualty • Self-study or university curriculum to master concepts • University and exam pathways • Advance through a series of exams to earn credential • Complete/attend certain modules/courses https://www.casact.org/admissions/process/ 6 Becoming an Actuary – 4 Primary Intl.
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  • Exam FM: Financial Mathematics
    Welcome! The Actuarial Science program prepares student for careers as actuaries. It helps them learn material that is included in processional examinations administered by the Society of Actuaries and Casualty Actuary Society, which actuarial students must pass in order to achieve professional status. Thank you for your interest in our Actuarial Science Program at the University of Iowa. The Actuarial Science program prepares students for careers as actuaries. It helps them learn material that is included in professional examinations administered by the Society of Actuaries, which actuarial students must pass in order to achieve professional status. In addition to actuarial science courses, students can take courses in preparation for business aspects of the actuarial profession such as accounting, law, finance, insurance, and economics. The Society of Actuaries (SOA) has recognized University of Iowa’s actuarial science program as a Center of Actuarial Excellence (CAE). There are eight criteria for the designation, including curriculum, faculty composition, graduate quality, connection to industry, and research/scholarship. We are a small department in a large University and graduate between 20-15 students each year. We do have SELECTIVE admission due to the difficulty of the professional examinations. Students interested in becoming actuaries should declare an Interest in Actuarial Science as their major when they ENTER the university. Ordinarily, students apply for admission to the Actuarial Science major in the fall semester of their sophomore year, after they have taken Math:2850 (22M:028) Calculus III or MATH:3770 (22M:055) Fundamental Properties of Spaces and Functions I and STAT:3100 (22S:130) Introduction to Mathematical Statistics I.
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  • Actuarial Studies Within the Biometry and Statistics and Statistical Science Majors
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  • Guide to SOA Written Exams
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  • 070 Valuation of Life Insurance and Annuity Reserves
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  • Actuarial Education – Alternative Routes for New Associations
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  • Principles of Actuarial Science
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  • Modeling of Economic Series Coordinated with Interest Rate Scenarios
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  • Murshid Kuttihassan Mortality Improvement
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  • Associate Members of The
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  • Society of Actuaries Archived 2000 Yearbook REQUIREMENTS for ADMISSION Page 1 of 3
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  • Metlife Guaranteed Income Program®
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