Education
We aim for a modernized and modularized education approach to:
- Increase the amount of education in data science, AI and machine learning
- Empower candidates to tailor their education goals
- Recognize achievements of knowledge and skills within the SOA actuarial pathway
- Offer new ways of education and testing with emotional intelligence (EQ) and adaptability (AQ)
- Ensure core and specialized education meets current and future demands
- Educate to prevent unintentional bias in models and data analysis
What’s Happening Now - Candidates
- The SOA is making changes to the ASA curriculum to meet employer and market demand for actuarial training, in particular the need for increased data analytics coverage and new “soft skills” training in adaptability and change (AQ or Adaptability Quotient) and emotional intelligence (EQ or Emotional Intelligence Quotient.) These changes do not increase travel time to ASA and keep the rigor you expect of the SOA exams.
- Beginning in January 2022, candidates will be able to earn new micro-credentials that recognize and demonstrate to employers the knowledge and skills candidates gain on their pathway to ASA. These “milestone markers’ will go with candidates if they decide to leave the pathway and are also applicable for those choosing the enter the pathway to only earn one or more micro-credentials. All elements required to earn these micro-credentials are part of the ASA pathway (no extra steps!) and count in full toward earning the ASA and FSA designations.
- The SOA introduced the first program in its new ground-breaking, modernized, and modularized education system in June 2021, the University-Earned Credit (UEC) program. The UEC program allows strong students to earn exam credit for approved courses and enables Centers of Actuarial Excellence (CAE) university partners to elevate their coursework and exams through a comprehensive evaluation process.
- Remote versions of the Associate Professionalism Course (APC) and Fellowship Admissions Course (FAC) are now available. The APC and FAC remote courses include two components each: an online e-Learning component and a virtual meeting session component. Candidates complete the e-Learning individually and then participate in small-group virtual meetings for the case study discussions. FAC candidates also make their presentations during the virtual meeting sessions.
What’s Happening Now - Members
Certificate Programs
The SOA is working to provide education that will keep actuaries on the forefront of new methods and knowledge with a variety of certificate programs that provide hands-on instruction with the level of rigor consistent with current SOA credentials.
- The SOA’s new International Financial Reporting for Insurers (IFRI) Certificate Program is ideal for those working in and with the actuarial field in international or multinational insurance firms. The five-month program offers the most comprehensive, hands-on practical training available on the actuarial elements of IFRS reporting requirements and IFRS 17 reporting standards applicable to insurance products.
- The SOA Predictive Analytics Certificate Program provides hands-on practical instruction and is open to any credentialed actuary. Designed to provide actuaries with in-depth knowledge on predictive modeling and data analytics, this program offers a combination of e-learning and in-person coursework.
- Responsible Use of Data certificate – coming in October. As data analytics and artificial intelligence transform our lives, data determines the way decisions are made. The way data is collected and measured can result in bias and incomplete information impacting outcomes. The SOA will offer this certificate program to educate and prevent unintentional bias in models and data analysis.
We will keep you updated with what’s happening now and what is coming in the future. Check back here or sign-up for our Exponential Opportunities monthly newsletter for the latest.