Canadian Institute of Actuaries and the Society of Actuaries Sign Memorandum of Understanding on Education

Ottawa, ON and Schaumburg, IL (May 10, 2017) – The Canadian Institute of Actuaries (CIA) and the Society of Actuaries (SOA) have signed a memorandum of understanding (MOU) providing for future collaboration and cooperation on the education of actuarial candidates. This agreement builds upon and extends the CIA and the SOA relationship of many years.

David R. Dickson, FCIA, CIA President, said, “We are very pleased to have reached this agreement outlining how we will work with the SOA on education for candidates, at both the Associate and Fellowship levels. This MOU demonstrates the CIA’s commitment to partner with the SOA on education, which will help align the SOA education system with the CIA’s education syllabus requirements for Associate (ACIA) and Fellow (FCIA) qualification. The agreement strengthens our relationship which will help support the future education of actuarial professionals in Canada.”

As part of this ongoing agreement, CIA representatives or liaisons will work with the SOA on education strategy and on the development of curricula and exams for components of the SOA education system that are recognized by the CIA. The MOU also calls for the establishment of a co-branding strategy to recognize the partnership more formally. The agreement leaves in place all previously existing agreements between the organizations regarding the CIA's University Accreditation Program (UAP) and is in addition to the existing joint efforts in education and research to foster and support the actuarial community in Canada.

“We value the CIA as an education partner and are pleased to have completed this agreement demonstrating our commitment to working closely and collaboratively with the CIA,” said SOA President Jeremy J. Brown, FSA, MAAA. “The SOA is a global professional association with many members and candidates in Canada and a long history of providing actuarial education in Canada and the United States. We have a long and successful history of working with the CIA to advance the actuarial profession’s service to members and the public. It is important to us to ensure this education partnership continues to grow and strengthen many years into the future and this agreement helps us achieve that objective.”

About the CIA

The Canadian Institute of Actuaries (CIA) is the national, bilingual organization and voice of the actuarial profession in Canada. Its 5,000+ members are dedicated to providing actuarial services and advice of the highest quality. The Institute puts the public interest ahead of the needs of the profession and those of its members.

About the SOA

With roots dating back to 1889, the Society of Actuaries (SOA) is the world’s largest actuarial professional organization with more than 28,000 actuaries as members. Through research and education, the SOA's mission is to advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal challenges. The SOA's vision is for actuaries to be the leading professionals in the measurement and management of risk.