INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. AIO Life Seminar November 2010 Tour of Africa : Southern Africa Craig Falconer (Africa Interaction Committee Chair) Norman Kelly (Africa Interaction Committee)

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Not just the FIFA World Cup! ICA 2010

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Africa hosted the 29 th International Conference of Actuaries ICA’s happen every 4 years First time hosted in Africa Tracks in Life, P&C, ERM, Investments, Pensions, Professionalism and Education Significant participation from Africa Number of functions organised ICA 2010

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Society relied on actuaries qualifying via UK-based Faculty and Institute of Actuaries (F&I)-initially South Africans had to go to the UK to qualify Actuarial programs established in seven universities, with extensive exemption recognition FASSA designation started 1997 – awarded on completion of UK exams and Professionalism Course South African local content specialist exams (final UK exam) launched December 2006 – Council of Actuarial Society decided to pursue full South African education system by 2010 Milestones to first recognised African actuarial qualification

 Intensive project over three years to set-up structures, governance and staffing for education system  Focus on getting support from key student, university and employer stakeholders  Internal launch of SA qualification on 31 October with publication of Student Handbook  Formal launch at function on 23 November  Succesful first year in running exams and migrating student  data from the UK INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Milestones to first recognised African actuarial qualification

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Central Tenets International Recognition World-Class Professional Standards Local Relevance

Mutual and International Recognition UK Mutual Recognition signed in May 2009 Australia Mutual Recognition signed in November 2009 Ireland Mutual Recognition signed in November 2009 Education system recognised by International Actuarial Association Recognition established in a number of African countries INTERNATIONAL RECOGNITION. LOCAL RELEVANCE.

UK Mutual Recognition Allows FASSA to get FIA/FFA on working in the UK and passing practice module..and the other way around Subject-by-subject recognition to Associate level Qualification recognition for Fellowship

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Ongoing Education Work Develop further international recognitions with other associations University accreditations in rest of Africa Ongoing curriculum development in professional skills, ERM and fellowship subjects Making qualification more accessible to the rest of Africa

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. ERM 14 IAA members signed the multilateral ERM Treaty in Hyderabad last year AS amongst these founding members and signatories Established the designation of Certified Enterprise Risk Actuary (CERA) Global recognition in ERM governed by a strong code of professional conduct South Africa application as award signatory of CERA under consideration –expect to be finalised end 2011

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Professional Skills Qualification focuses on professionalism –acknowledging an actuary is not just a technician but someone who has professional responsibilities Work-based skills, communication, Modelling course, Business Awareness Module, Professionalism Course all focus on this aspect These skills are important for the actuary to be able to deliver his/her technical competence in a way that benefits their clients

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Africa Interaction committee Work in parallel with IAA, AWF, ASABA Purpose is to develop the profession in Africa Co-sponsored launch of Actuarial Society of Zambia, together with one day seminar Held a joint seminar in Accra with the Actuarial Society of Ghana Support provided to Actuarial Society of Tanzania Support provided to Namibia in pursuit of formation of a Society

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Association of South African Black Actuarial professionals extending mentorship programmes outside of South Africa. Tanzania project underway and funding has been secured through Peter Clark memorial fund. South African branch of Actuaries Without Frontiers to be involved with International mentorship programme being run in Kenya next year. Also involved in financial literacy programmes in collaboration with NGO’s. Desmond Smith, former President of the AS, has been elected as President of the IAA from AWF and ASABA

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Solvency Assessment and Management (SAM) Retirement Reform Health Reform HIV/AIDS modelling CPD and Professionalism Business as usual

INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. Questions? Stand – Come and chat to us – Brochures Education & CPD Board – 2010