The Society of Actuaries Plans for Evolution of the FSA Pathway
July 26, 2023, Schaumburg, IL – Continuing its commitment to the education and advancement of actuaries, the Society of Actuaries (SOA) today announced a plan for the evolution of the Fellowship of the SOA (FSA) pathway. With the growing global demand for actuarial talent and a slowing pipeline of actuarial candidates, the SOA is making enhancements to help meet future demand. These enhancements will improve the candidate learning experience and provide more flexibility and global relevancy in the curriculum while maintaining the rigor that has earned respect for the FSA designation worldwide.
“We’re developing these key advancements to best meet employer needs in today’s evolving business environment and address candidate challenges in the current educational pathway,” said Greg Heidrich, SOA Chief Executive Officer. “As part of this process, we worked with our Board and volunteers, as well as gathering a lot of feedback from employers and candidates.”
The SOA will implement these enhancements to the FSA pathway in the fall of 2025 and will focus on:
- More frequent exams and faster grading
- Exam feedback
- Improved syllabus and source materials
- Local regulatory material shift
- Flexible pathway
The SOA will begin to offer high-demand Fellowship exams up to three times a year. Additionally, candidates will experience faster turnaround with the grading process and have the option to receive detailed performance feedback if they are close to passing an exam. This feedback will help candidates understand proficiencies and areas of improvement for more focused and productive studies, increasing their chance of success with taking the exam. The SOA is developing an improved syllabus and source materials that will include worked examples and practice problems. This approach will help candidates connect the material to essential learning objectives and outcomes.
Candidates will have the flexibility to choose specific courses and create a pathway that is most relevant to their career. They will be required to complete four technical courses, including two in the same subject area where one builds on the prior course. The Decision Making and Communication (DMAC) course and Fellowship Admissions Course (FAC) round out the candidate’s pathway.
“We are providing FSA candidates with more flexibility for their pathway. Candidates will be able to choose from about 20 courses, specializing in a single practice area as they do today, or creating a combination of different courses,” noted Heidrich. “These FSA pathway enhancements reflect extensive market research, analysis of macro trends, and in-depth interviews with employers, members and candidates on how best to support the future of the profession.”
With these enhancements, detailed local regulatory material will be moved outside the current FSA requirements to focus the curriculum on what is most relevant to actuaries across the globe. The FSA pathway will continue to include fundamental regulatory principles and frameworks. Stand-alone, optional local regulatory certificates will be offered to ensure all candidates needing that training can receive it.
Look for details on the specific courses to be offered and the transition rules by spring 2024. The SOA will ensure FSA candidates receive full credit for completing current exams and modules.
Visit the Evolution of the FSA Pathway site fsa2025.soa.org for more details, including in-depth questions and answers. Candidates and members are encouraged to participate in upcoming virtual town halls to learn more.
About the Society of Actuaries
With roots dating back to 1889, the SOA is the world’s largest actuarial professional organization with more than 32,000 actuaries as members. Through research and education, the SOA’s mission is to advance actuarial knowledge and enhance actuaries’ ability 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 measuring and managing risk. Visit soa.org.