Category Archives: Australia

An International Profession

The Actuarial Profession is an international profession and the Faculty and Institute of Actuaries has agreements for the mutual recognition of qualifications with the following organisations:

* Actuarial Society of India

* Actuarial Society of South Africa

* Canadian Institute of Actuaries

* Casualty Actuarial Society

* Groupe Consultatif (Europe)

* Institute of Actuaries of Australia

* Institute of Actuaries of Japan

* Society of Actuaries

Additionally, the CERA (Charted Enterprise Risk Actuary) qualification is a truly international qualification which can be awarded by the individual institutes.

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Australian Associates Become Actuaries

The Institute of Actuaries of Australia has announced changes to the designation of ‘actuary’.

As of the New Year, students will be able to describe themselves as ‘actuaries’ after completing Parts I and II, an Investments bridging course, a Professionalism course and the Practical Experience Requirement (PER)*.

Current associates will be able to describe themselves as ‘actuaries’ after they have achieved the PER and attended the Professionalism course.

Fellows will need to pass the relevant Part I, II and III exams and attend the Professionalism course.

*The PER is a achieved by completing three years’ relevant full time experience in the financial services sector.

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Treaty signing launches new, international qualification

In an agreement reached during last week’s International Actuarial Association meeting in Hyderabad a new qualification of CERA (Chartered Enterprise Risk Actuary) has been launched. The treaty was signed by the following bodies:

  • The Institute of Actuaries of Australia (Australia)
    Canadian Institute of Actuaries / Institut Canadien des Actuaires (Canada)
    Deutsche Aktuarvereinigung e.V. (Germany)
    Institut des Actuaires (France)
    Israel Association of Actuaries (Israel)
    Institute of Actuaries of Japan (Japan)
    Colegio Nacional de Actuarios A.C. (Mexico)
    Het Actuarieel Genootschap (Netherlands)
    Actuarial Society of South Africa (South Africa)
    Svenska Aktuarieföreningen (Sweden)
    Faculty of Actuaries (UK)
    Institute of Actuaries (UK)
    Casualty Actuarial Society (USA)
    Society of Actuaries (USA)

The individual institutes will be able to award the new qualification to members meeting the required educational standards.

The opportunities in the enterprise risk management field are exciting and ERM is seen by many as being a major field of specialty for newly qualified actuaries in the forthcoming years.

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Search for ERM jobs

Australia for Actuaries – opportunities on the table

With Australia’s unemployment rate remaining steady at 5.8%, and positive sounds from the Asian and US economies, there is definitely positive sentiment in the air about the improving global economy. This seems to have many of our clients thawing out their recruitment freezes from September 08, and bringing a mixture of new and replacement roles to the table.  Read more on the Travel GAAPS blog

Regsiter for Actuarial Jobs in Australia

The Wonderful Wizards of Oz: Australia for the Actuarial

If you’ve ever thought about bringing your Prophet skills to the Land Down Under, we’ve got just the thing to help you get there. “Australia for the Actuary” is a relocation tip booklet for any level of actuary looking to add more Vegemite to their diet.

The UK financial market is experiencing a lot of turbulence right now. Wouldn’t you like to see a pleasant change on the horizon, one with kangaroos and koalas and sunnier skies?

If you would like a copy of “Australia for the Actuary” in either hard copy or PDF form, just contact one of our consultants or resourcers at our London office (+44 (0)20 7397 6200) or our Brisbane office (+61 (0)7 3112 2657). You can also send an email to info@gaaps.com and tell us which version you would like to receive.

Immigration Updates

From the July 2008 Newsletter from Commonwealth Immigration – information regarding changes to immigration for Canada, Australia and the UK:

From Canada: Priority processing for skilled workers (at the discretion of the Minister for Immigration) will now be allowed, ensuring that candidates are put into place in a more timely manner.

A consultation process has now been initiated where all Canadian provinces and employers groups will be invited to give their views on the types of skilled workers that should be prioritised to meet with Canada’s skilled labour shortages. This consultation process is likely to take several months.

From Australia: A new processing centre has been opened in Brisbane that will handle General Skilled Migration visas. This is to assist in the volumes of visas now expected as a result of an increased target set by the government.

The Brisbane Skilled Processing Centre (BSPC) will not be fully operational for a few more months but it is hoped that it will help reduce the current backlog of applications at the Adelaide Skilled Processing Centre (ASPC).

More information about working in Australia can be obtained by phoning our Australian office at +61 (0)7 3112 2657.

From the UK: The new Post-Study Work category has been introduced. This will replace the International Graduate Scheme, allowing overseas students with degrees from UK universities to remain in the UK to work for up to 2 years after graduation (1 year more than the IGS).

GAAPS on the Barbie

Our GAAPS girl down under, Sima, has graced the webpages of The Actuary this month.  Sima tells us a little something about her secondment in Brisbane and how to make a smooth move to Oz.

In terms of my first impressions, it’s not like Neighbours! Brisbane strikes me as a bustling, cosmopolitan city. With the Brisbane River winding through, the atmosphere is different – it’s not easy to put my finger on – but it has a pleasant harmony.