IFoA Council Member Mukami Njeru explains why adopting the Chartered Actuary designation will play a key part in ensuring the future of the profession.
As a global actuarial profession we are at the point of inflection, where if we don’t adapt to the changing world, we face the threat of becoming irrelevant. It may be argued that we are behind the curve in terms of responding to the needs of several areas where actuaries can make an input and drive positive change, using data for good.
I believe that the Chartered Actuary designation will be a key part of achieving this necessary adaptation, as it clarifies the status of both qualifications. Fellowship is widely known and understood within the traditional areas, but Associateship is an equally relevant qualification for those who may not have an interest in the established specialisation routes. With the proposed changes, there is no impact on the pathway to qualification and the qualification process remains the same as before.
In my view the Chartered Actuary designation caters for the appropriate positioning of the profession as:
We would therefore have the best of both worlds. From my perspective the risks posed by not implementing the change far outweigh the comfort we may have in leaving things are they are. I trust that IFoA members can appreciate and support the proposed change and allow the profession to catch up to getting future ready. The IFoA team is committed to stewarding this journey forward with the support of the membership via the upcoming vote. Vote yes.
If you're an IFoA Associate or Fellow, check your inbox for an email from CES to vote for Chartered Actuary today. To find out more about the proposed designation, including Q&As with our CEO and president, visit Chartered Actuary: 2022 Member Vote.
