How many actuaries out there have two or more fellowships? I have been considering doing two fellowships. The country i live in the actuarial practice areas are life and pensions so it would be fool hardy not to do one of the two if u r in the country. I am interested in finance or investments so was wondering how many actuaries out there have two or more fellowships. Or should I be considering a masters in finance instead of a fellowship? Thank you
Should not be necessary to sit both fellowship papers. If you are concerned that a lack of knowledge of one field over the other will disadvantage you, why not sit the UK practice module for the subject you don't have - that still requires you to study the full course notes and practice module core reading, but avoids another 3 hour exam? Passing the practice module will prove that you have covered the material. ... and you can't have two sets of FIA / FFA behind your name
I wouldn't personally. If you later want to change discipline, then yes do a second one later -- at least doing it at the time you need, the syllabus will be uptodate for when you want the knowledge. You will probably have to pay the cost of one of them. Can't see an employer forking out for something non-essential. The comment above about not being FIA and FFA...it was interesting to read the deal had the merger gone through. If you were 'old' pre merger FIA you could then going forwards have used FIA FCAP. But as it is we wait to see what the profession has to say about its next vision of the way forward.
I'm wondering whether you can use the designation FIA after you move into other practice area. For example, you got your FIA by passing the SA2 in life specialist, but now you wanna enter the pension or general insurance area. Can you still place FIA after your name in your business card?
As far as I am concerned, once you get an FIA/FFA you don't lose it. Of course you need to maintain subscriptions and CPD. If you qualified with Life and start to work in Pensions, you don't lose FIA because you're working in something other than life. However, part of the professionalism aspect is that you only do work that you are competent to do (or work that is being supervised by someone who is competent). I don't think there is a rigid system for meeting this, but the way you consider to meet it would need to be objectively justifiable. Sitting further exams in the new field is one possibility, which should also count as CPD, but I'm sure many an actuary made a switch without sitting extra exams.
