How to qualify without studying for IFoA exams

Haha that CP3 bonus - what a wonderful addition to celebrate our years of communication on the job - which, presumably, must be good enough if we still have jobs

 

Hi, did you end up going this route? If so, what is your opinion now? Funny enough, I will be doing the Msc in Actuarial Science at UNIL this year but a thought of having to learn Swiss German just sounds like a lot of time. Anyway, let me know if there are any of my future fellow students here!

 

Hi Bob, I think you are making an excellent decision. Lausanne is in the French region and the course is taught in English so I don't think Swiss German will be a requirement. You will learn more useful and relevant information in that course then you will ever learn by memorising the archaic material in the IFoA syllabus.

Personally I have not gone down this route or any other at this point in time as I actually earn more as an IT Project Manager than I would as a qualified Actuary (given that I have 20 years experience and work in the contract market) and the work I do is arguably more interesting. However, if I did decide to pursue actuarial qualifications, one thing for certain is that I will be avoiding the IFoA like the plague

 

Wonderful, thank you for the response! I do speak some French but thinking about future, Zurich is probably the best option work-wise and thus the Swiss German. All the best in your career and if you ever consider to study in Lausanne, don't hesitate to contact me as by then I should have some experience with that!

 

Thank you Bob. And best of luck with your studies!

 

http://www.theactuary.com/opinion/2016/11/growing-our-talent/

"First, and not uniquely, an IFoA Associate or Fellow holds a global passport: the qualification is recognised as surpassing the required standards anywhere in the world." - Derek Cribb

So there you have it. We are subjected to tougher standards than anyone else. The problem is they've entered into mutual recognition agreements with around 30 other associations, including one where you get the exams done in 14 months. This doesn't add up. We're being ripped off!

 

I'm just wondering what is this statement based on "....surpassing the required standards anywhere in the world."
I personally met actuaries, who told me that UK actuaries are not technical (like for example PhD qualified German actuaries) or that UK qualifications are worth less than American actuarial qualifications because in the UK you can get exemptions from Uni exams.

 

A professional qualification body shouldn't be making such conflicting statements on their standards, qualification times and so on. Actuaries deserve to know what the true situation is to make an informed judgment who to pursue a qualification with. IFoA have all the data, mapping etc. but are not sharing it.

 

http://m.acas.org.uk/

Lodge your claim.

 

I think it's based on information they have but are not prepared to show us.

 

This extremely unfair AAE mutual recognition agreement won't be around for much longer. InsuranceERM magazine reports as follows:

https://www.insuranceerm.com/news-c...from-aae-unless-new-agreement-is-reached.html

"IFoA threatens withdrawal from AAE unless new agreement is reached.
Actuarial associations split over Brexit and mutual recognition of qualifications."

IFoA say they cannot participate anymore in the AAE MRA due to legal challenges in the UK.

 

It seems as if Brexit/2019 exam changes are the driver rather than any legal challenges - at least that's what the article implies

Happy to stand corrected if you wish to provide any evidence to back up your claim.

 

You know that's not correct, so why are you posting that here?

 

Mmm... seems like you're clutching at straws a little. The very article that you are linking to suggests Brexit as the primary cause.

If you've got a source which states different then please share it so we can read and debate

 

It is false to state IFoA are withdrawing from AAE MRA due to Brexit. You either have not read the article or are misrepresenting it for reasons you are not telling us.

 

You have quoted this in one of your posts for goodness sake

 

Have you read the entire article and the letter it is based upon?

 

https://www.gov.uk/employment-tribu...stitute-and-faculty-of-actuaries-2403017-2017

I note that there was a recent legal claim (available on this link) but it failed. Paragraph 63 of the reconsideration specifically states that the claimant was unable to show exactly what you are alleging regarding mutual recognition. This was the ruling of the impartial judge.

Surprising ERM would speculate on this given the legal challenges failed.

 

I asked whether Proud actuary had read the article and the letter it is based on. Has failed to answer this straightforward question.

ERM is not 'speculating'. They based their article on the letter from IFoA to AAE, which explicitly states they're unable to participate in MRA due to legal challenges. This the undistorted truth. Any attempt to blame brexit or C19 for this MRA withdrawal is false and misleading. Now, who would be so keen to do that?

 

Legal challenges that have failed. Feel free to post the letter for us all to see.

 

Proud actuary you have misrepresented the article. Why?