Welcome to your April China Newsletter which is packed with all the latest IFoA news and events information.

As many of you know, we had a very successful Asia Conference in Kuala Lumpur last month. We are already planning our Asia Conference 2017, which will take place in Hong Kong and we will shortly be recruiting the organising committee members. If you are keen to help shape the 2017 Conference, I would encourage you to apply. Look out for more information on our website soon. 

Last month, our President-elect Colin Wilson, and CEO Derek Cribb, visited China. During their visit they went to see the Actuarial Exhibition, 'Our Story in Shanghai Archives',  and presented the Sir Edward Johnston Prize winners with their certificates.

Many member events are being organised for the next few months including Professional Skills Training, technical talks and exam tutorials. I will post more information for each event nearer the time and I hope to see many of you attending.

Happy reading!

Wen Li

Lead representative in China and Asia

During the IFoA executive visit to Beijing between 25 and 29 February, CEO Derek Cribb visited Insurance Asset Management Association of China, Insurance Association and China Association of Actuaries. Derek met with the presidents and the deputy presidents of the three associations.

They discussed legislative reform, insurance industry innovation and actuarial training. Derek has invited all three associations to participate in the 2017 IFoA Asia Conference.

During the Presidential visit in Shanghai last month, IFoA President-elect Colin Wilson met four Sir Edward Johnston Prize winners from Shanghai University of Finance and Economics, Hong Kong University and Chinese University of Hong Kong and presented them with their certificates.

The four winners who received their certificates are Zhou Guanghua and Chen Sijia of SUFE, Chan Shunping of HKU and Au Patrick Ka Ho of CUHK. Colin presented CUFE winner Geng Xinyang with her certificate last year in Beijing.

This is an annual award in which the IFoA awards the best graduating actuarial students of five universities in China, Hong Kong and Singapore.

During the recent presidential visit to China, the President-elect Colin Wilson and CEO Derek Cribb were invited by Shanghai Archives to visit “Our Story – Actuaries in Shanghai” exhibition. 

The exhibition is the first ever actuarial exhibition in China and it displays the work and the development of the actuarial profession from history up to present day. The exhibition also includes a future outlook section where three past presidents of the IFoA give their outlook statements.

During the visit, Colin and Derek were accompanied by Prof Zhigang Xie of Shanghai University of Finance and Economics and Julia Zhu the Deputy Secretary General of Shanghai Financial City Association. They were also met by the Governor of Shanghai.

Pictured (from left to right): Prof Zhignang Xie, Colin Wilson, Derek Cribb, Wen Li, and Julia Zhu.

March saw a couple of important developments in the IFoA's Actuarial Research Centre (ARC) that reach out to China. The IFoA has appointed Professor Shaun Wang (pictured), Nanyang Technological University (Singapore), as Associate Director of the IFoA’s ARC.  With a specific focus on China and the wider Asia Pacific region, Professor Wang will support the quality of the research delivered through the ARC and be an ambassador for the ARC in the region.  He joins a panel of Directors that includes Professor Andrew Cairns, Heriot-Watt University as ARC Director and Professor Steve Haberman, Cass Business School, City University London as ARC Associate Director.

In developing the future of the ARC, the IFoA is keen to include thoughts and ideas of the actuarial community from around the world. In early March, Head of Research and Knowledge at IFoA, Sarah Mathieson, engaged with academics and practitioners in a research workshop as part of a conference hosted by CUFE in Beijing. The purpose of this workshop was to identify current challenges in actuarial science and how research teams can work with the IFoA to address those challenges. If you think there are specific topics relevant to the China region that you think the IFoA should be researching, please get in touch with Sarah.

As the end of the CPD year for categories 2 – 6 is rapidly approaching (30 June) we thought it might be useful to remind you of your obligations under the 2015/16 CPD Scheme via the links below:

• Fully Regulated Fellows and Associates - Category 2
• Partially Regulated Fellows and Associates - Category 3
• Certified Actuarial Analyst - Category 4
• Student Member - Category 5
• Student Actuarial Analyst - Category 6

Remember CPD can be easily gained by using the new Virtual Learning Environment (VLE) which has a fully responsive design, allowing for use on smartphones, tablets or desktops.

To access the VLE on the website please click on ‘My Account’ where you will find the online learning material under ‘My Learning Environment’.

The new CPD functionality allows you to watch a video then click the ‘Claim CPD’ button to update your CPD record. When you do this, we will verify the activity for you, making it easier for you if you are chosen for audit.

If you have any questions, please visit the CPD pages of our website. Alternatively, please contact the Membership Team.

It’s now just over three months till the end of the CPD year so if you still need to do your Professional Skills CPD – this may be of interest. 

We are hosting two webinars (the same content) on Professional Skills on Wednesday 8 June at 08.30 to 09.30 and 16.30 to 17.30 (BST).  You can find more information about this on our website soon.

Our General Insurance Board are launching a regional working party in Asia to better support members who are based in the region.

If you are interested in joining the working party or would like to suggest topics that the working party in Asia could cover, please view the details on our volunteer vacancies webpage or contact Debbie Atkins.

We are very grateful to members of the IFoA who volunteer to support the profession.  Please consider volunteering for one of the following roles:

• Risk Management Board – International Member based in Asia
• GI International Working Party – seeking Chair and Members
• Join the 400 Club reserve list
• Join the International Feedback Group.

For details of these and all other current opportunities, please visit the volunteer vacancies webpage or contact Debbie Atkins, Head of Volunteer Engagement.

Angelo (Pei) Wang is a fellow of the IFoA (pictured):

“I have always been interested in contributing towards actuarial education. During my working time in the UK, I volunteered for the IFoA and provided support to the Education Directorate.

Since moving back to Asia in 2013, I have been seeking opportunities to volunteer. A conversation with the actuarial faculty of the Central University of Finance and Economics (CUFE) presented the perfect opportunity. In September 2015, I started volunteering for them as an adjunct professor in conducting the CA1 equivalent module for the Year 2 Actuarial Science Master students.

I find volunteering work particularly rewarding as it reminds me of the reasons behind my aspiration to become an actuary in the first place.  I would encourage you all to consider volunteering for the IFoA.”

Our qualifications are highly regarded by our members globally. There are currently over 14,000 individuals studying for these qualifications.

One of the regular requests received from those sitting exams is greater clarity on what they need to achieve to pass.

As part of the ongoing efforts to support those studying, we are pleased to announce that for any exam sat after 1 March 2016, for the CAA, Associate or Fellowship qualification, candidates will receive their percentage exam mark.

As part of this initiative exam passmarks will also be published on the pass list and in the examiners’ report for each exam.

Further details, including what results documentation a candidate will receive, will be added to our webpages over the months leading up to June when the first results under the new system will be released.