From the pen of Mayank Goyal, covering the 2019 events in Actuaries which ends out to be a complicated yet helpful year for Actuarial community.
Change of the curriculum
The biggest deal where everyone thought everything would change, IFoA handled it promptly taking care of all the things may happen after the curriculum change, however the exemptions party bashed.
We still believe that the change brought a better experience as they are trying to devise practical hands on experience along with the theory. R is definitely going to help the new comers and the higher level exams (CA, ST and SA) curriculum remains almost the same, as I have heard and not read!
PPD – Personal and Professional Development
PPD was recently introduced, as much as it is necessary, more it is related to practical exposure. It was hard for those who are not professionals and for those who are professional, it turned out to be a bit confusing.
On PPD, hundreds of students came to us asking for PPD and its implementation so we created a beautiful article Personal and Professional Development : Road ahead for actuarial development explaining its documentation and its repercussions, if not followed! This has almost helped thousand of students and we are glad to receive so many wishes.
The scene of exemptions
Okay. The confusion on this was only for you or us, but I guess something which went too far away from being called as complication. For as much we understand, we covered it at Are you an IAI student looking for exemption from IFoA? and received bright reviews! But, we cannot guarantee that the article applies because the scene is changing almost every month and the confusion still persists as mails just make it more confusing.
The Actuaries’ code
Professionalism for an actuarial professional should be at its best. Revised Actuaries’ Code and Guidance comes into force from May 2019. To support members in understanding the obligations and applying the Code in practice, the IFoA has produced Guidance to the Code. It provides more information on each of the principles and has helpful pointers for members, employers and users of actuarial work.
Seminars by Institute of Actuaries of India.
The IAI has been doing too good with these seminars and 2019 has been far better than any of the previous seminars. Over 15 seminars were conducted for General, Health, Data Analytics and Employee Benefits.
We and our members attended some and we feel that they can be more robust on information that as a student, we can gain, may be a followed-up practice session on learning. We would like to attend all of them just if someone from IAI is listening, please provide us free entry!!
Mumbai University course
Who have thought of this? Like in real?
To hear this that from the program director Akash Rughani, who happens to be an early life Actuarial connection of mine, Mumbai University is offering Bachelors and Masters in Actuarial and Quantitative Finance, I was ecstatic to know about it. We still feel that if the exemptions can be brought up from this either from IFoA or IAI, I’m enrolling my childrens’ there, when they happen to be.
Actuarial Jobs in 2019
If I say something, I can early-on feel the backlash. If I don’t, again I can. We have always indulged ourselves in the Job scenario and feel like, it is where it is, for not only Actuarial but for all the fields and people do not allow the fact “for all the fields” in here. However, 100’s of job was posted, being taken care of from wherever we can. It was a good year, it wasn’t a good year. That is up to your job situation as of now.
For The Actuarial Club, the season was busy as we all were. As a community which is out-of-pocket, we are doing really well where we are on Google first page on almost most of the Reserving and General Insurance topics, which we have covered. Our reach is over at 150 countries and we are happy to serve with maximum of our readers are based out of India (as expected!), US and UK!
We are free for our members, since the beginning, and we are happy to remain that way. We also had a Twitter session #AskActuarySumit with Mr. Sumit Ramani, Consulting Actuary at Actuaria and that went ahead far more interesting than thought of! As many as many things we did, we failed but learned so we now plan with our team of brilliant outset minds who guide each other in every process.
At the end, we are thankful for everything we get or we don’t from you, IAI, IFoA or our mentors, knowingly or unknowingly that includes great people like Mr. Mahidhara Devangere, Mr. Sumit Ramani, Mr. Yash Ratanpal and other unlimited number of people for helping us throughout the way.
Also, great efforts by out team consisting outperforming people like Rishabh, Anmol, Raunav, Rashi, Chirag, Shreyansh, Shivang, Niharika, Aman and Arpit Surana. This journey wouldn’t have been possible without their support.
In 2020, we hope that the flow of achievements and aspirations would be maintained and we keep on to give you the best, for the least or for none, just like we are going to do with our upcoming Excel sessions, all for free.
For this new year and more to come. Cheers!
Let us know what you expect from us in the 2020, and we would be happy to try, to make it happen!