The Next Bold Step for the Banking Fellowship

The Next Bold Step for the Banking Fellowship

Revised, Expanded and Finally Global
December 1, 2021
03:00 - 04:15 EST (click here to check your local time)

If you haven't already heard the great news, you're not too late. ASSA has revised its Banking Fellowship Applications exam and introduced a Banking Fellowship Principles subject, and will be offering both subjects to IFoA students from April 2022 onwards. On top of that, it has enhanced its Certificate in Actuarial Banking Practice (CABP) to be in line with these developments. This Certificate is available to all Associate Actuaries of full member associations within the IAA. This is a big leap for the actuarial community!

The ASSA Banking Committee will be presenting on opportunities for actuaries within banking and their experiences being students AND THEN leaders and authors within this relatively new practice area. You'll hear directly from this team on what drove them to embark on the second phase of this journey (for the profession and themselves), the growth over the past few years and the plans for taking the new education material (and wider practice area) across the globe. This will be a great opportunity to learn more about the expanding education opportunities for actuarial graduates and seasoned actuaries looking to move into the world of banking. A brief overview of the new syllabi will also be provided. The Team will share plans regarding banking-related CPD, the development of more relevant guidance notes, the growing opportunities in the wider banking ecosystem (including fintechs), as well as the rapidly increasing role of climate change in banking practices. You don't want to miss this!


Iain Allan

Iain studied Pure Maths at Edinburgh University and then qualified as an Actuary. In the early part of his career, he worked in fund management, and then in investment banking at UBS.

Between 1994 and 2008, Iain was Group Director, Strategy at RBS. In this role, he was involved in all aspects of the Group’s activities. He made particular contributions to RBS’s establishment of a supermarket banking joint venture with Tesco, its acquisition of the larger bank NatWest and its establishment of a strategic partnership with Bank of China.

Over the last ten years, Iain has worked as an independent consultant. He has helped several smaller banks with regulatory submissions, including applications for banking licenses, and has drafted responses to regulatory consultations on a broad range of banking topics.

Iain has been an Honorary Visiting Professor in the Faculty of Actuarial Science and Insurance at Bayes Business School (formerly Cass), City, University of London since 1991. He is Vice-Chair of the IAA Banking Banking Forum. He has been actively involved, working with ASSA, on the Banking Fellowship courses to be offered by the IFoA from 2022.

Kearan Hartzenberg

Kearan graduated from University of Cape Town (UCT) with Honours in Actuarial Science. He is an Actuary working in Banking for six years with stints at two of the largest banks in South Africa.

His experience includes Credit Origination Strategies; Credit Portfolio Management; Provision Modelling; Capital Modelling; Credit Scorecard Modelling. This has been in both Retail and Commercial Portfolios

He is a member of the Banking Committee of the Actuarial Society of South Africa (ASSA), with a focus on Education. He is a Chapter Lead involved with the redevelopment of the ASSA Banking Subjects.

Jerome Mahadeo

Jerome is a Fellow of the Actuarial Society of South Africa (ASSA) and a Chartered Enterprise Risk Actuary (CERA). He is a Banking Actuary with over 10 years of experience in risk, analytics and management. He has worked in banking and risk consulting. He has been successful in implementing risk-based frame-works, models and instilling risk analytics across different organisations.

He currently heads up the model development team looking at economic capital and climate risk stress testing models at one of the large banks in SA.

He currently serves as the deputy chair of the ASSA Banking Committee. His contribution includes a focus on banking education and examinations. Instrumental in shaping banking risk professional education internationally.

Christiaan Opperman

Christiaan is an Actuary (FASSA) with banking expertise. His experience includes IFRS 9 ECL provision modelling for Wholesale, Retail and Trade Receivable books, MRM (Model Risk Management), product development (from concept to implementation), financial forecast model building and ERM. Christiaan is currently employed at KPMG as an Assistant Manager.

Christiaan is also a member of ASSA’s banking committee that consists of actuaries from the major banking institutions (including consulting firms) in South Africa. He is currently responsible for overseeing the development of a number of chapters’ notes for the new banking subject and other educational material.

John Young

John studied engineering at Oxford, MIT and Cambridge before qualifying as an actuary with the Faculty of Actuaries. He started work in life insurance, focusing on product pricing and product development, where his first mentor, Carlton Bobb had been a trainee actuary in Trinidad and Tobago.

John later joined the Royal Bank of Scotland in Group strategy. He moved into retail banking to use his actuarial knowledge to develop pricing models and customer value metrics across retail banking, private banking and business banking. As well as helping ASSA develop banking courses specifically for actuaries, John has written two banking books explaining the risks banks manage, and how banks help society. The first will shortly be released on Kindle.

John believes actuaries already have a unique blend of skills needed for successful careers in banking; analytical ability, problem-solving and professional judgement. Grasping banking opportunities requires actuaries to obtain domain-specific knowledge and clear mapping of existing knowledge into a “banking vocabulary”.


Kudzai Chigiji

Kudzai is the Chair of the ASSA Banking Committee and a member of the IFoA’s Finance and In-vestment Board. She has led the team over the past 4 years to take the Banking Fellowship subject to other member associations and grow the involvement of actuaries within banking institutions across the globe.

She is a Fellow of ASSA and IFoA, with a Masters in Development Finance (UCT) and MBA (Oxford).

Her actuarial experience mainly covers healthcare and banking; and now encompasses tech and investments, mainly in finance and healthcare, across Sub-Saharan Africa.

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12/1/2021 3:00 AM - 4:15 AM