Actuarial students working at LCP will no longer need to complete work-based skills documentation because, as an accredited employer, LCP can now use its appraisal system to review and document work-based skills acquisition. The firm says the accreditation removes a duplication of time and effort from the student.
The Institute and Faculty of Actuaries employer accreditation was launched in April 2012. The scheme offers accredited employers the possibility of accrediting in-house appraisal schemes, so that they can be used in place of the Institute’s system to monitor, assess and sign off their students’ work-based skills.
Trevor Watkins, Director of Education at the Institute and Faculty of Actuaries, says: “Acquiring, reflecting on and recording work-based skills is a crucial part of qualifying as an actuary. The aim of the new accreditation is to ensure that students understand the interaction between theory and practice and that they and their supervisors are able to regularly review progress and agree areas for development.”
Amanda Eyres, training and development manager at LCP says: “We have been working closely with the Institute and Faculty of Actuaries since details of the new accreditation system were launched and we are extremely proud to become the first company to receive accreditation.”