The Institute and Faculty of Actuaries (IFoA) is the UK's only chartered professional body dedicated to educating, developing and regulating actuaries based both in the UK and internationally.
What is an actuary?
Actuaries are highly regarded professionals; actuaries are problem solvers and strategic thinkers with a deep understanding of financial systems.
Being an actuary means having highly valued mathematical skills and expertise
Actuaries come from different academic backgrounds but share a love of maths even if they haven’t done a maths degree. When you train as an actuary you’ll learn how to analyse data, evaluate financial risks, and communicate this data to non-specialists.
Actuaries use their skills to help measure the probability and risk of future events
Every area of business is subject to risks so an actuarial career offers many employment options, including banking, insurance, healthcare, pensions, investment but also non-financial areas.
An actuarial career can be one of the most diverse, exciting and rewarding in the world
Members of the Institute and Faculty of Actuaries (IFoA) are part of a globally recognised profession and have internationally-recognised qualifications.
Actuarial apprenticeship schemes
For most of the apprenticeship opportunities you will need to have a Mathematics A level at grade A or B, although some companies may look for other subjects.
There are two schemes available for apprenticeships:
1) A trailblazer apprenticeship scheme where you will either take the CT1 exam or the first two modules of the CAA qualification. This is a government run initiative and is assessed at the final stage by City and Guild. This will last around two or three years and will include work experience to ensure you are a truly well-rounded employee at the end.
Certified Actuarial Analyst (CAA) is a professional qualification provided by the Institute and Faculty of Actuaries (IFoA), available to everyone – you just need to love maths!
The CAA will equip you with useful business and finance skills by developing your technical, strategic and analytical knowledge. The qualification takes 2-3 years to complete.
2) An apprenticeship that is run internally at an employer. You will get to choose what qualification you want to embark on and you will still get the same level or work experience, but the assessment will be done in-house.