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Committees

Education

Terms of Reference

Created – 1 September 1995, Last revised – 5 September 2013

1.  Membership

Membership of the Committee is open to one delegate from each IAA Full Member association.

2.  Purpose

To encourage and promote the development, maintenance and enhancement of appropriate standards of actuarial education and Continuing Professional Development (CPD) internationally

3.  Role

  • To maintain a process for the assessment of education requirements of associations as part of the accreditation process.
  • To determine whether the education requirements for a particular association or programme meet the standards set down in the IAA Education Syllabus and Guidelines and to advise the Accreditation Committee on compliance.
  • To undertake a formal periodic review of the IAA Education Syllabus and Guidelines at least every five years and to deliver a formal report to IAA Council on this periodic review.
  • To facilitate developments in the globalisation of education systems leading to common syllabuses and common assessments.
  • To maintain a database on the situation in respect of the IAA Education Syllabus and Guidelines for each member association and to share this information with the Membership Committee as it is updated.
  • To provide a consultative forum for associations developing their education requirements
  • In order to encourage the development of internationally oriented actuaries, to consider arrangements for the build-up of a database accessible to member associations, of examples in particular countries of extensions of actuarial practice beyond the basic IAA Education Syllabus and Guidelines, with particular reference to Continuing Professional Development (CPD) requirements.
  • To facilitate the exchange of information about CPD opportunities available in countries of member associations.
  • To provide support to Advice and Assistance Committee to mentor associations in the development of education systems
  • To provide a consultative forum, in conjunction with other IAA structures, to explore opportunities to encourage greater access to actuarial education for all member associations.

4.  Decision-making authority

The Committee operates within the IAA Statutes and Internal Regulations and makes recommendations for action by Council or the IAA Executive Committee as appropriate.

5.  Operational Matters

Frequency of Meetings:

The Committee meets at least twice a year in conjunction with each IAA Council meeting and by teleconference or electronic link as required. 

Agendas and papers: 

All meetings will have a formal agenda prepared by the Chairperson that generally must be distributed, along with required papers, at least a week before each meeting and made available on the Committee page on the IAA website.

Minutes:

Minutes will be prepared and distributed as soon as practicable after each meeting and will be made available on the Committee page on the IAA website.

Votes:
The committee shall attempt to make decisions by consensus. However, where necessary, decisions may be made by a simple majority of the Committee members voting either at the meeting or electronically, with the Chairperson having a casting vote in the event of a tie.

Reporting:

The Committee reports to the Executive Committee (EC). To facilitate communication, the EC appoints one of its members to serve as the EC liaison person.

The Commitee will review its mandate at least every three years and report the results of this review to the Executive Committee.

The Committee Chairperson will submit a proposed workplan and, where applicable, a related budget for the coming year, for EC consideration and approval.

The Chairperson will provide a written update report to the IAA Secretariat after each bi-annual Committee meeting.

IAA Liaison:

The Committee will liaise with other IAA Committees and Sections as required to carry out its role and activities, and help these committees achieve theirs. This will include at least, where relevant, any Committee that may be involved in the development or review of actuarial education and Continuing Professional Development. It will also include the Advice and Assistance Committee in relation to education system development, Membership Committee in relation to education requirements, qualifications to practice and other aspects of relevant to IAA membership, and the Professionalism Committee in relation to professionalism education.

External Liaison:
The Committee will liaise with external stakeholders as required to undertake its role and activities.

These liaisons are subject to requirements and/or processes of the IAA Statutes and Internal Regulations, and established policies and protocols. Public statements are made in accordance with the Branding Policy and the Due Process for Making a Public Statement.

Other operational matters:

The Committee will share information regarding developments and initiatives in relation to actuarial education and Continuing Professional Development via the Committee page on the IAA website.

The Committee will identify, in its workplan, any risk exposure to the IAA from its actions or decision-making and consider risk-mitigating strategies as part of its operations.

The Committee may also periodically conduct surveys of member associations as required to undertake its role and activities.

6.  Subcommittees, Working Groups and Taskforces Reporting to the Committee

Actuarial Educators Subcommittee