Appendix: CPD requirements

Question 1

CPD framework

Answer 1

• The cognitive strand, which covers the development of the actuary’s technical skill.
• The normative strand, which covers the manner in which each actuary undertakes to deliver these skills, by adhering to the evolving code of professional conduct, as determined by ASSA, and the ethical requirements of the profession.
• The organisational strand, which covers the development of our corporate body, ASSA, which is tasked with ensuring that the skills are in place and delivered in the agreed manner.

Question 2

A framework for professional learning may be considered as follows:

Answer 2

• Cognitive strand - The activities, both formal and informal, that ensure the development of the technical skills necessary for the actuary to provide the services required by his or her client or employer.
• Normative strand - The activities, both formal and informal, that ensure the development of the standards and expectations relating to the manner in which each actuary undertakes to deliver these skills, by adhering to the evolving code of professional conduct and the ethical requirements of the profession.

Question 3

• Organisational strand

Answer 3

the activities, both formal and informal, that result in the ongoing development of our corporate body, ASSA, to better serve the interests of both members and external stakeholders.

Question 4

ASSA, as a professional body, is created and legitimised by its members, and therefore relies on its members to be aware of its functions

Answer 4

• ensuring that a code of conduct and guidance notes are developed and maintained
• requiring compliance by members with the code of conduct and guidance notes
• ensuring that any public interest duties of members are set out in the professional guidance notes
• ensuring that a process exists for emerging issues and developments to be evaluated by the profession, and guidance to be altered as appropriate
• ensuring that complaints against members progress smoothly through the disciplinary system
• encouraging and disseminating research and ensuring that the education curriculum is up to date
• ensuring (but not necessarily providing) professional education opportunities, both prior to and post qualification
• having a process for engaging the regulator and the public on matters where the profession can be expected to have valuable insights
• encouraging members to voluntary community service, such as access to actuarial advice by those unable to pay.