Two of the IAA’s Full Member Associations, the Institute and Faculty of Actuaries (IFoA) and the Society of Actuaries (SOA) recently announced that they have established a joint venture to develop the CAA (Certified Actuarial Analyst) qualification. This builds on the CAA designation program that the IFoA introduced in 2014, and is designed to give individuals working in actuarial/financial support roles the opportunity to work towards attaining a recognized technical qualification.
The intention is that actuarial analysts will be seen as being distinct from qualified actuaries, and will be focused on actuarial support roles.
The IAA is excited about this and other initiatives by its member associations to encourage the development of skills for people who function in actuarial support roles. These initiatives have a key role to play in more established markets, but perhaps more importantly in developing markets, where the number of fully qualified actuaries is limited or non-existent.
Through its Insurance Regulation Committee and its Microinsurance Working Group, the IAA is actively working within and outside the profession to help facilitate the development of insurance and related financial markets in developing countries. Thus, the IAA is supportive of efforts that encourage the expansion of the supply, training and qualification of essential technical capabilities in areas currently under-served by qualified actuaries.
More information on the CAA qualification is available via inquiry to: [email protected]