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Actuarial Technician Level 4 Apprenticeship
The Actuarial Technician Apprenticeship has been designed to provide an entry level role into the actuarial industry. It creates access for employers to a diversifying talent pool, complementing the traditional recruitment of graduate actuarial trainees. The Apprenticeship Standard is supported by the Institute and Faculty of Actuaries, and, on successful completion, provides a route into study for further actuarial qualifications.
This apprenticeship develops key business Knowledge, Skills and Behaviours, including servicing clients and supporting the advice given by qualified actuaries, through a combination of work-based training and studying for professional exams.
Standard guideline: 2-3 years.
Duration is dependent on previous experience, individual progression rate and access to opportunities to gain the full range of competencies.
Study Mode/Delivery: National delivery
Study for the professional exams is via a combination of textbooks, online progress tests and practice exams, supported by videos and Online Classroom Live teaching from BPP’s expert actuarial tutors.
This flexible combination means that study resources can be accessed from anywhere with an internet connection.
Development of the necessary Knowledge, Skills and Behaviours is work-based, with regular support from BPP Skills Coaches.
Suitability - Who should attend?
This apprenticeship is suitable for higher entry level apprentices and existing staff.
Actuarial technicians work alongside actuaries in business areas such as pensions, insurance, investments, health, risk and wider actuarial fields. The role typically involves working as part of a team using data and mathematical models to provide financial solutions to clients. It is applicable to organisations of all sizes, both insurance companies and actuarial consultancies.
Contact BPP for employer and apprentice requirements.
Outcome / Qualification etc.
Professional Qualifications included are either;
- Modules 0 (Entry Exam) and 1 (Finance and Financial Mathematics) from the Institute and Faculty of Actuaries’ (IFoA) Certified Actuarial Analyst (CAA) qualification; or
- Core Technical Module 1 (CT1 – Financial Mathematics) from the IFoA’s Fellowship qualification. Apprentices will also be required to pass the IFoA’s Online Professional Awareness Test.
Training Course Content
- Actuarial techniques
- Processes and principles
- Industry regulation
- Practical numeracy
- Quality service delivery
- Clients, colleagues and stakeholders
- Data extraction and manipulation
- Commitment and enthusiasm
- Working with others
- Communicating effectively
- Approach to thinking
Formative assessment provides evidence of readiness to proceed to the end assessment. During the formative assessment period, the apprentice maintains a logbook of evidence of the required Knowledge, Skills and Behaviours. The end assessment comprises the submission of a showcase portfolio of evidence and an interview with an independent assessor.
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BPP Professional Education is one of the specialist examination-based and professional development training arm of the BPP Group, Europe's biggest professional education and publishing provider with 2,000 staff members across 40 countries and over 30,000 students per year. BPP Professional Education...
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