Education
The Institute is committed to maintaining education standards and integrity, fostering a supportive learning environment, and continuously adapting to the evolving needs of members and students. This year, our dedicated team, with our important governance volunteers overseeing maintenance of standards and relevant content, has made significant strides in advancing the Education Program. There are more than 200 volunteers who assist with governance, curriculum reviews, guest speaking, scrutineering and marking. Student numbers continue to grow year on year, with a 15% increase in Actuary Program enrolments and a 5% increase in Fellowship Program enrolments. Syllabus improvements We’ve implemented updates to all syllabuses, seamlessly incorporating IFRS17/AASB17 and other industry changes. Experience enhancements To enhance the student experience, we’ve introduced the Student Hub, a central repository of student resources. We’ve completed a refresh of our ‘Becoming an actuary’ website, improving visitors experience and tailoring copy for the audience.
Ensuring equity and honesty The Educational Conduct and Appeals policies have been revamped and a new exam rule introduced prohibiting internet use. Leveraging advanced online proctoring and AI tools, the team has proactively addressed 26 potential misconduct cases out of 1,333 exams and 1,715 assignments, resulting in ten penalties this year. The Institute remains vigilant in its dedication to preserving quality education. Attracting actuaries to the profession To inspire the next generation of actuaries, we launched the Ambassador Program, with 22 dedicated actuaries actively engaging with universities to encourage and guide students. Through events and presentations, we’ve reached a further 1,600 high school and university students, and an additional 500 through our ‘Beyond the Numbers’ webinar series. University student interest is on the rise, with 75% expressing intent to continue their studies with us. Our university engagement scores also remain strong, with a Net Promoter Score (NPS) of 54 for all university stakeholders — a 16-point increase from 2022.
Actuaries Institute • Year in Review 2023
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