Recognition of FSA with foreign societies

[Anonymous]

Hello,

Does anyone know which societies recognize the FSA or FCAS if it is different for FCAS?

[Anonymous]

Does anyone know about this?

If you wanted to move to Australia or the UK, could you convert your fellowship in the SOA/CAS to fellowship in their actuarial bodies?

[Maine-iac]

I don't really know. You might get an answer by e-mailing the SOA or CAS and checking directly. The SOA in particular has been pursuing mutual recognition of late.

[Valentina]

You guys should check out the SoA website more often! But I agree it's awful to navigate ...:(

You can read on the subject at

http://www.soa.org/eande/soa_waivers.html.

Browse the websites in Australia and the UK for their info.

Cheers!

[Roasted Almond]

For U.K system (www.actuaries.org.uk):

An FSA will be given FIA upon passing Institute's exam303, If the candidate has already received exemption from one of the 400 series Institute's exams.

An FCAS will be given an FIA upon passing Institute's exams 302 and 304.


The problem with Australian system (www.actuaries.asn.au), to the best of my knowledge is that the Australian exams are offered only in Australia and not worldwide (correct me if I'm wrong) so their exam waivers for other International actuarial organizations are not frequenlty available & you may need to contact at their web-adress. However, i'm sure they will have many exemptions for both FSA and FCAS.

[Anonymous]

I suspected that:

The FCAS is more readily transferable than the FSA, at least for the UK.

I wonder if many European countries have their own bodies, or if they recognize the FIA, and if you have FCAS and FIA, that you would be pretty much be able to work anywhere in the world?

[no]

I have two German friends, one is a senior actuary and the other one is an actuarial analyst. Both work for a major reinsurer, they are not members of any actuarial associations not even the german one. In general in Europe no body cares whether you are FSA/FCAS as long as you have learned actuarial science. There is an exception to this rule, that is if you work for an american/english compnay and your boss is FSA/FCAS.

I lived in Melbourne for a few months about 4 years ago. At that time I met an actuary (Fellow of the AIA) who was laid off at age 42 was studying for some exams (could be equivalent to CFA).

You could become a fellow 1year after graduation from one of the three universities in Australia with an ascc degree. If you have a degree with good GPA you could do a masters (1-2yrs) and get excemptions to lots of exam.

Point of my post: If you would like to work in another country and you have worked in USA/CANADA as an actuary (or actuarial analyst), your designation would be the least important factor in finding an actuarial position.

[Anonymous]

Interesting. Thanks.

[Valentina]

Another point to note is that, although you can work as an actuary abroad without going through the same rigorous educational process, you will be getting paid accordingly as well. If you want to have the US actuarial salary while living and working overseas, you need to carry the appropriately recognized designations.