Our previous article described Personal Professional Development (PPD), which was to be done by members who have not become Associate or Fellow Actuary. Now let’s know what is CPD, which is a similar activity. But there is still some difference between both and you will understand when you read this article…
Continuing Professional Development (CPD) is a mandatory activity to be done each year.
All members of IFoA / IAI must maintain competence as per the Actuaires code. CPD scheme sets out framework which can help its members comply with this obligation.
Who should do?
Only Qualified Associate or Fellow Actuaries are required to complete the CPD requirements.
What to do?
Write summary of 15 hours of CPD Activities during each CPD period. This should include 2 hours of Professional Skills Training. (PST). These activities can be lectures, seminars, webinars, workshops and other events conducted by IFoA/IAI.
For IFoA, here are the steps to record CPD:
Step 1 : You need to login to www.actuaries.org.uk/
Step 2 :Go to my account in top right corner
Step 3 : Scroll down and select CPD
Step 4 : Select CPD records
Step 5 : Click Add a new record
Step 6 : Type in following fields:
• Activity description
• Activity Date
• CPD hours
• Learning outcome
Then you can click save CPD record.
Keep repeating Step 6 until you have completed 15 hours of CPD.
For more information about CPD and PPD, visit our youtube video: https://youtu.be/ftZck0-HKKo
Our next series of article will be based on “Life of an Actuary” in the various industries Actuaries work.