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Apprenticeship Standard: Actuarial Technician Apprenticeship Level 4
Key information:
Duration The expected duration of this apprenticeship is 2.25 years.
Qualifications Modules 0 and 1 from the CAA Global (Certified Actuarial Analyst) qualification; orCore Technical 1 (CT1) from the IFoA Fellowship qualification.Apprentices are also required to pass an Online Professional Awareness Test (OPAT).
Progression Progression routes include completing the CAA Global qualification or the IFoA Fellowship qualification (e.g. via a Level 7 Actuary Apprenticeship).
Delivery Our guided teaching is delivered through a mix of Live Online tutorials delivered by BPP’s expert actuarial tutors, a comprehensive textbook and 24/7 access to an Online Classroom (comprising video teaching units, online tests, practice exams and a tutor-supported forum). Development of the Knowledge, Skills and Behaviours required under the Apprenticeship is work-based, with BPP Skills Development Coaches providing monthly guidance on how to evidence outcomes via face-to-face and phone reviews.
End Point Assessment On completion of the professional qualification and work-based Knowledge, Skills and Behaviours outcomes, Apprentices will prepare for the End Point Assessment (EPA). This stage lasts 3-6 months, with BPP supporting Apprentices to produce a showcase portfolio and to attend an interview to gain the Apprenticeship Award. The EPA is conducted by an external organisation.
Entry requirements At least Grade B in A-Level Maths. Any additional entry requirements for this apprenticeship will be decided by each employer.
Apprentices without level 2 English will need to achieve this level prior to taking the End Point Assessment.
Key responsibilities Likely to include data analysis, use of actuarial models to complete a wide range of tasks and technical support for the wider actuarial team and clients.
Confirmed Funding Cap £15,000
Knowledge, skills and behaviours:
These include: practical numeracy, actuarial techniques, data extraction and manipulation, quality service delivery, communicating effectively, working with others and professionalism.
01235 550 005✉ actuarialapprenticeships@bpp.com bpp.com/apprenticeships
OverviewThe actuarial profession is a diverse sector which involves the management of uncertainty and risk to help clients, both internal and external, meet their objectives. Actuarial teams build mathematical models to predict future financial outcomes; from setting car insurance premiums to helping people provide for retirement. The Actuarial Technician Apprenticeship is an entry level role into the industry which is supported by the Institute and Faculty of Actuaries. The apprentice will work as part of a team supporting qualified actuaries using data to provide solutions for clients.
The role will develop key business skills and behaviours, including servicing clients and supporting the advice given by qualified actuaries, through a focus on work-based training whilst also studying for some professional exams.
Requirements
Employer• Provide apprentices with a contract
of employment for the duration of the apprenticeship on the first day of their apprenticeship and be paid at least a wage consistent with the law for both the time they are in work and in off-the-job learning
• Must not ask the apprentice to contribute financially to the direct cost of learning
• Provide the apprentice with paid time to attend off-the-job training, including additional support for English and Maths, or support for learning difficulties and/or disabilities
• Recognise that the apprentice must complete the apprenticeship within their working hours
• Ensure apprentice spends at least 20% of their work time in off-the-job training
• Enter into a contract with BPP Actuarial Education Ltd
• Support the apprentice to gain new skills
Apprentice• Be in full-time employment for at least
30 hours a week• Be an employee (have a contract of
employment for the duration of the apprenticeship) on the first day of their apprenticeship and be paid at least a wage consistent with the law for both the time they are in work and in off-the-job learning
• Be a citizen of a country within the European Economic Area (EEA**) or have the right of abode in the UK, and have been ordinarily resident in the EEA for at least the previous three years on the first day of learning
• Not be enrolled on another apprenticeship at the same time
• Have the right to work in England• Able to complete the apprenticeship in
contracted working hours• Be in a new job role (nine months or less),
or in an existing job role, where significant new Knowledge and Skills are needed – employer statement of justification needed (relevant to the apprenticeship)
Programme outline
Module 0 – Entry Exam (Practical Mathematics and Statistics)
Apprentices complete a Logbook of Knowledge, Skills and Behaviours outcomes by writing reflective statements on real work activities.
Module 1 – Finance and Financial Mathematics
OPAT
End Point Assessment
Submit Showcase Portfolio
Interview
CAA
Know
ledg
e, S
kills
and
Be
havi
ours
Programme Support
Induction Support
On boarding
Induction Webinar
On Programme
Support
Professional Qualification Tutorials
Online Classroom
Monthly 1:1 Progress Reviews
(Quarterly face-to-face)
KSB Guidance and Review
Proactive Engagement
Monthly MI
Learning Support
End Point
Assessment Support
Gateway Review
Showcase Portfolio Guidance and Review
Mock Interview
EPA Booking
Gateway
Apprenticeship Support TeamOur dedicated support team provide
monthly status updates for learners and line managers to highlight progression
and engagement, with additional meeting support where necessary.
Skills Development CoachAn industry experienced and
professional coach who will guide Apprentices through the programme.
Through quarterly face-to-face meetings and monthly phone calls, they will ensure the Apprentice is meeting learning and professional
development outcomes.
Off the job training
04272
The below table shows what 20% off the job training will typically look like, assuming a 7.5 hour working day, with 46 working weeks each year and two years off-the-job training requirement. The 20% allocation does not include additional time which may be required for functional skills or on programme resits.
Programme Module Required hours
Timetabled lectures
Flexible Self-Study
(hours)
Required Days Notes
Professional qualification270 40 230 36
Comprises introductory webinar, 2 tutorial days for CAA Module 0, 3 tutorial days for CAA Module 1 and self-study.
Apprenticeship Logbook (Knowledge, Skills, Behaviours) 225 10 215 30 100 Logbook outcomes (Knowledge, Skills,
Behaviours).
Employer supported workplace learning and independent study prior to Gateway
152 152 32 Employer directed learning such as technical training, shadowing and mentoring.
Gateway review preparation15 15 2 Evidence gathering and authentication to pass
Gateway review.
Total 662 50 612 100
Role SuitabilityActuarial technicians work alongside actuaries in business areas such as pensions, insurance, investments, health, risk and wider actuarial fields. The role typically involves working as part of a team using data and mathematical
models to provide financial solutions to clients, colleagues and other stakeholders. It is applicable
to organisations of all sizes, both insurance companies and actuarial consultancies.
Trailblazer GroupIncludes: Aon Hewitt,
Mercer and Zurich.
01235 550 005✉ actuarialapprenticeships@bpp.com bpp.com/apprenticeships
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