CPD survey results
The recent CPD survey received an excellent response with 2303 members expressing their views. The full survey results are available on the CPD section of the website.
Mandatory CPD has been in force for all professionally active actuaries from 1 July 2006, replacing the previous 1992 rules, so we were keen to assess members’ experience of the first year under the new scheme.
We were pleased to see that 83% of respondents found their obligations under the new scheme clear and that 91% found the CPD Handbook useful. While the majority of respondents understood and supported the reason for the compulsory CPD scheme, there was a residual concern expressed that it is largely a box-ticking exercise.
The new scheme is principles-based, with an emphasis on actuaries assessing their own development needs. However, the detailed rules of the new scheme may have led some to regard it instead as a purely prescriptive exercise.
In particular, the survey shows that we need to improve the clarity of the scheme and the various terms used, such as the different CPD categories, verifiable versus personally assessed CPD, and the professionalism skills requirement.
Professionalism issues and softer skills were also identified as the biggest gap in the Profession’s existing CPD provision. There is also clear desire for more targeted emails to members on relevant CPD opportunities. The Profession will continue to develop this area but it does also highlight the importance of all members providing e-mail addresses, completing their practice details as part of the annual subscription and keeping their personal profiles up to date on the Profession’s website.
Respondents wanted to see more development of online material such as reading lists with links through to underlying material. However, there was, at the same time, a low take-up of the existing online CPD material, largely due to lack of awareness, and this is a priority area to both develop and further publicise.
I would like to thank all those who responded to the survey. The prize draw for a £150 Red Letter Experience was won by James Holt of HBOS in Bristol. The successors to the CPD Commitee, including the Validation Committee, will be taking your feedback into account to produce a clearer version of the CPD Scheme, and to ensure that members’ needs for CPD provision continue to be met.
Paul Fulcher, Chairman of CPD Committee
