The Competency Framework for Actuaries is designed to help actuaries make decisions related to their individual professional development and career management plans.
More Information on the Competency Framework
Today's actuaries use their advanced technical skills to satisfy increasingly complex business, decision-making and management demands. However, other nontechnical skills are also central to the actuary's success as a well-rounded business professional and advisor.
The SOA's Competency Framework for Actuaries is a tool to help actuaries make decisions related to their individual professional development and career management plans. It applies systematic, sound approaches to selecting professional development opportunities, focusing on the skills needed to go beyond technical and specific actuarial analysis.
The goal is to promote professional development and lifelong learning that meets the needs of members, their employers and the public. In addition, new tools are being developed to support the framework, including a self-assessment that will identify individual strengths and opportunities for additional skill development.
What is a competency?
A competency is defined as a skill, knowledge, ability or behavioral characteristic associated with a specific profession.
What is a competency framework?
It is the synthesis of the skills, knowledge, behaviors, attitudes and attributes that contribute to outstanding job performance. Learn more.
New! Assess Your Professional Competencies Now
Design your future with the new SOA Competency Framework Self-Assessment Tool and Personal Planning Workbook. Use the self-assessment to distinguish the competencies where you excel and the competencies you need to strengthen. You'll rate a series of statements that will help you determine your path to becoming even more well rounded. Then use the workbook, which provides an easy way for you to organize, manage and direct your professional development goals. Start today—design your future!
Demonstrating the listening, writing and speaking skills required to effectively address diverse technical and nontechnical audiences in both formal and informal settings.
Adhering to standards of professional conduct and practice where all business interactions are based on a foundation of integrity, honesty and impartiality.
External Forces & Industry Knowledge
Identifying and incorporating the implications of economic, social, regulatory, geo-political and business changes into the design and delivery of actuarial solutions.
Initiating, innovating, inspiring, creating or otherwise acting to influence others regardless of level or role toward a common goal.
Relationship Management & Interpersonal Collaboration
Creating mutually beneficial relationships and work processes toward a common goal.
Technical Skills & Analytical Problem Solving
Applying the actuarial knowledge, skills and judgment required to provide value-added services.
Strategic Insight & Integration
Anticipating trends and strategically aligning actuarial practice with broader organizational business goals.
Providing effective problem solving that addresses relevant interests and needs.