Analytical Foundation Programme
The Analytical Foundation Programme (“AFP”) is one of the activities to be carried out under the Professional Development Pillar. The Professional Development Pillar is designed to support professionals and aid them in carrying out their day to day actuarial roles
.The AFP will be a modular programme aimed at early entrants into the actuarial community who find themselves rising very fast as is typical in Africa, or those who are looking to refresh skills, or those who are seeking to change their specialist areas. Participants in the AFP could also include those still studying for their exams and/or newly qualified actuaries.
Structure of the programme
Content: Programme will be split into 3 areas:
Soft Skills Education – This section will cover the soft skills that are needed by actuaries to improve the quality of their work and effectiveness within organisations. These include skills such as communication, expert judgement, professionalism etc.
Basic Technical Education – This section will cover some of the basic actuarial skills that will be needed within the profession. This will cover technical skills such as pricing and reserving, as well as skills such as coding and data science.
Advanced Technical Education – This section will cover in more depth the actuarial skills needed in various aspects of their work. It will also include wider fields that actuaries are getting involved in such as risk management, banking, sustainability etc.
FORMAT
- The modules will be delivered by way of pre-recorded content as well as written manuals.
- There will be a test at the end of each module and candidates will be required to score at least [70%] to pass.
Certification
- A Certificate will be issued on completion of the minimum required number of modules within the 2-year period.
- Certificates will also be offered for some of the Advanced Technical Education (“ATE”) courses.
Duration
- The Full Programme will last 2 years, broken into 3 monthly sessions i.e. a total of 8 sessions. Participants will need to complete at least 8 modules. Some modules such as those in communication and the basic technical education will be required, while others may be elected
- Qualified and Experienced Actuaries (i.e. Associates and Fellows, or actuaries with at least 5 years professional experience) will be allowed to select individual ATE modules and will have 3 months to complete the module.
| Soft Skills | Basic Technical Education | Advanced Technical Education |
| Communication reporting interacting with management | Pricing Life General Insurance Health etc | Banking Capital modelling |
| Applying Expert Judgement | Reserving Life General Insurance Health etc | The role of a Chief Risk Officer |
| Professionalism & Ethics | Reporting Life General Insurance Health etc | Sustainability |
| Managing a team | Data Analytics | Investment / ALM |
| Negotiations | Coding | Catastrophe Modelling |