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Degrees considered relevant for Actuaries

D

Dacota

Member
I am planning to migrate to Australia and as part of the migration process I have to get my skills and education assessed.

Australia's skills assessment authority (VETASSESS) have assessed my qualification and claim that my education (degree) is not relevant to the actuarial field.

I have got a bachelors degree in "Mathematics and Applied Computing" and I have also completed 5CT papers plus three years experience as an Actuarial Analyst.

I am so disappointed that VETASSESS considers "Mathematics and Applied Computing" not a relevant degree for Actuarial. In my opinion I believe that my degree is highly relevant to pursue a Actuarial Career.

Can anyone suggest any ideas to prove VETASSESS that this degree is relevant, because I have the option to appeal their decision, but I would like to provide more evidence to show that this degree is relevant, highly relevant for an Actuarial Career.

Any help or suggestions will be much appreciated.

Thanks
 
Did you get an exemptions from the CT exemptions from your degree? Even if you didn't apply for them you could consider asking the Profession if you would have got any had you applied.

It does seem harsh as many people come into the actuarial field with maths degree and you do have relevant experience.

Maybe the issue for them is really that they are short of qualified actuaries and but they have enough at your level.

Were there other rejection reaons?

A different attack could be to get hold of adverts for people at your level.

The only other thing is can you get a perm role down there and prove you are needed. It may be you need this ebtry check to apply.
 
Thanks for your thoughts bystander.
I think I am eligible for a couple of exemptions, however I did not apply for exemptions.

And yes, I agree with you, it might be that they are looking for much more experienced people. But then according to the assessor, it is the degree which is irrelevant. There are two parts to the assessment, work experience and education. They have only mentioned that my Degree qualification is irrelevant, my work experience seems to be sufficient.

I don't think the assessing authority VETASSESS is using someone related to the actuarial profession to assess skills and education. It might be a generic assessor who makes a decision based on a checklist. Because if an Actuary has looked into this, it is quite obvious that Computing and mathematics are both two key field of studies highly relevant to Actuaries.
 
It certainly sounds like you have failed a checklist to me, since you sound like a textbook part-qualified candidate.

I'd suggest as part of the appeal getting an Australian actuary or company to provide a letter stating that they consider you to be a suitably qualified person.
 
Hi Dakota,

I am really surprised to hear that. I am on a 457 visa in Australia so had to prove my skills to get it and I have an Electronic Engineering Degree, 6 CTs (5 when I applied) and also 3 years experience as an actuarial analyst (when I applied). I would have thought your degree is more relevant but maybe the fact that I had a company sponsoring me, and a job already secured in an actuarial field made a difference? Have you thought about applying for jobs first? Or even, as Calum mentions below, you could try get an Australian actuarial company to give a letter/reference.
Did you provide your student transcripts and also your Actuarial Institute membership? The other option would be to ask the Actuarial Institute (UK or Australia) to provide a letter stating that they believe your degree is relevant?

I hope you get some luck with the appeal.
 
OzActuary said:
The other option would be to ask the Actuarial Institute (UK or Australia) to provide a letter stating that they believe your degree is relevant?

I hope you get some luck with the appeal.
Click to expand...

I think that's an even better idea than mine. And good luck too!
 
Thanks Calum and OzActuary.

I have sent an email to the Australian Actuarial Society. As mentioned hope I can get a letter from either the UK or Australian Actuarial Society agreeing that my degree is relevant for an actuarial career.

Also OzActuary, since you would have gone through the job hunting process in Australia, can you give me some tips or pointers on any good recruitment websites.

Thanks a lot for your help. Much appreciated.
 
Dacota said:
Thanks Calum and OzActuary.

I have sent an email to the Australian Actuarial Society. As mentioned hope I can get a letter from either the UK or Australian Actuarial Society agreeing that my degree is relevant for an actuarial career.

Also OzActuary, since you would have gone through the job hunting process in Australia, can you give me some tips or pointers on any good recruitment websites.

Thanks a lot for your help. Much appreciated.
Click to expand...

Hi,

I know its been quite a while for you. But I would like to know if you got the PR? I was wondering if I could apply with 5 CT papers and a Bachelor's Degree in Economics and relevant work experience of 4+ years. Hope to hear from you.
 
verma.kartik1989 said:
Hi,

I know its been quite a while for you. But I would like to know if you got the PR? I was wondering if I could apply with 5 CT papers and a Bachelor's Degree in Economics and relevant work experience of 4+ years. Hope to hear from you.
Click to expand...
Did you apply for an assessment from VETASSESS then ?
 
One other possibility can you speak to recruiters in oz and find out what degree their residents tend to have to do actuarial work. Then compare your syllabus to what's in their degree. If there's strong links that should be of help
 
bystander said:
One other possibility can you speak to recruiters in oz and find out what degree their residents tend to have to do actuarial work. Then compare your syllabus to what's in their degree. If there's strong links that should be of help
Click to expand...

Don't the IFoA claim to have conducted a 'rigorous process' between their system and that of Australia given they have entered into a mutual recognition agreement with them? After all according to the IFoA Royal Charter Bye-law 45 they should only enter into a MRA with foreign associations of equivalent qualification standards. Therefore shouldn't the IFoA be able to answer these kinds of questions....
 
verma.kartik1989 said:
Hi,

I know its been quite a while for you. But I would like to know if you got the PR? I was wondering if I could apply with 5 CT papers and a Bachelor's Degree in Economics and relevant work experience of 4+ years. Hope to hear from you.
Click to expand...

Your 5 CT papers are likely to be rendered worthless soon due to the curriculum 2019 transfer arrangements... so perhaps you have even less CTs than you think...
 
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