In 2019, the SOA Board commissioned a study of the future of actuarial work to determine what strategies should be undertaken to achieve long-term growth for the profession. Aligned to this initiative, Education conducted a comprehensive job analysis, asking members and employer representatives to determine what all actuaries must be able to do to be successful professionals five years or more into the future. Two clear conclusions were that actuaries need more education in data science and predictive analytics along with improved skills in communication and adaptability.

This analysis was closely followed by detailed job analyses in five specialist areas to determine each area’s specific future needs. Each analyses utilized data analytics techniques to cluster and determine the relative importance of each identified learning outcome. The results were put to immediate use with the Board approving substantive changes to the curriculum and exam structure to Associate level in 2021 and approving changes to all specialty tracks in 2022.

All educational changes informed by the job analyses will have been implemented by mid- 2023. Among the substantive changes to the Associate pathway are:

• The removal of the Investments and Financial Markets exam, with its content being redistributed to ASA courses and into relevant specialty tracks
• The introduction of Advanced Topics in Predictive Analytics e-Learning course and accompanying exam, which builds on the Predictive Analytics course launched in 2018 focusing on both predictive analytics and data science techniques
• The introduction of a Fundamentals of Actuarial Mathematics exam that enables candidates to then choose an advanced exam in short-term or long-term actuarial mathematics, removing the requirement to complete both at an advanced level
• The introduction at an early stage of the pathway of two e-Learning courses that add content in the fields of emotional intelligence and adaptability; candidates who complete these courses and additional exams receive micro-credentials and are eligible for professional affiliate membership.

This presentation will outline the methodology and findings of the job analyses and discuss their implications for the future of the profession. It will also discuss how these changes were received by stakeholders.

Find the Q&A here: Q&A on 'The Actuarial Profession - Now and in the Future'