Scholarship of Teaching and Learning

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Browsing by Subject "Actuarial education"

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    Authentic professional development: Key to quality sevice delivery
    (Actuarial Society of South Africa (ASSA), 2014) Lowther, Michael; McMillan, Wendy
    The Actuarial Society of South Africa ('Actuarial Society') requires its members to honour their professional promise to deliver specialist and up-to-date actuarial expertise that is ethical and subject to professional oversight. The purpose of this study is to investigate how the Actuarial Society can encourage its members to develop and maintain the capability to deliver this professional promise through continuing professional development ('CPD'). Current concepts of and approaches to professional development were identified from the literature and various professions' CPD requirements. Thereafter, the opinions of South African actuaries on the insights from the literature were sought by means of an online survey. Analysis of the literature indicates that CPD is most effective when it takes place through a development cycle of planning, action, results and reflection. Further, professional development is associated with competently completing tasks that are required in the workplace. Data from the survey supported these insights. It is concluded that the Actuarial Society's CPD requirements should be designed to encourage members to develop and maintain their capabilities, and it is therefore suggested that members be required to engage in work-based development cycles.
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    Education for actuarial quality
    (Actuarial Society of South Africa (ASSA), 2009) Lowther, Michael; McMillan, Wendy; Venter, Francisca
    This paper is located in the field of actuarial professional education. It draws on current literature and empirical evidence to argue the need for developing generic ‘normative’ capabilities and values in the actuarial profession. The paper examines three themes of normative education for actuaries—the intended purpose of an education programme, the range of capabilities and values to be developed and educational ‘best practice’. A literature review of normative education in various professions provided a theoretical framework for data analysis, and for making recommendations. Data were collected from three sources: interviews with stakeholders; documentary evidence regarding current education of actuaries and accountants; and advertisements for employment of nearly or newly qualified actuaries. The paper draws on the literature and the empirical evidence to argue that the purpose of an actuarial education programme is to ensure the delivery of a service of quality. For this delivery to be achieved, attention must be given to technical, normative and organisational learning. The paper then reviews normative capabilities and values for actuaries. Thereafter, educational considerations for the development of normative capabilities and values are discussed. The paper concludes by drawing on the study to outline principles to guide curriculum planning for the normative component of the new South African actuarial qualification.
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    Planning lifelong professionalisation learning for actuaries
    (Actuarial Society of South Africa, 2006) Lowther, Michael; McMillan, Wendy
    This paper presents a model for what is termed Lifelong Professionalisation Learning for actuaries. The model is grounded on the proposition that professions are dynamic, offering the public varying quantities and qualities of professional aspects over time. The overall curriculum for the model is derived by ordering these aspects into cognitive, normative and organisational strands. Different aspects of the curriculum need to be addressed at the different stages of an actuary’s career. Delivery of the curriculum may take many forms, and should be planned by national actuarial associations under the guidance of an education expert.