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. To qualify as an actuary you need to apply to become a student member of the Institute and Faculty of Actuaries (IFoA). You then need to pass our exams, or obtain exemptions from them and gain satisfactory level of work-based skills.
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.
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:
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.
Financially rewarding – starting salaries are around £25,000 - You can enjoy a good work/life balance - It can take you anywhere in the world - You are recognised as a professional in one of the most niche industries around - You will belong to a professional body and are therefore heavily respected -
Our strategy and objectives Strategy refresh, June 2016 It’s been five years since we published our strategy. In that time, while our mission as an organisation has not changed, the world has moved on. We have refreshed our strategy, not just to reflect the changes in the global landscape today, but to position us and our members as relevant for an uncertain future. Overarching strategy statement To succeed in the Mission and Vision of the IFoA we must deliver a sustainable future for actuarial science. Our strategy recognises that actuaries are a small but global community who are at their strongest when working together as a community, and with our strategy we will raise the reputation and profile of actuaries and the value of their skills in both established and new areas of business. We will drive innovation and research to deliver the highest standards of education, professionalism and support to our members, cementing our position as a leading public interest professional body. -
