Institute and Faculty of Actuaries

Certified Actuarial Analyst - Principal Examiner – Module 5 Models and Audit Trails [PDR]

The Institute and Faculty of Actuaries’ (IFoA’s) Engagement and Engagement Directorate is seeking to hear from suitably qualified and experienced Fellows who would like to be considered for the role of Principal Examiner for Module 5 of the CAA Global exams. This role is open to any suitably qualified members regardless of their geographical location.

The Role: Principal Examiners are appointed to help maintain the quality and ethical standards of the examinations and qualification. This is a senior appointment and applicants must be able to show interest in and understanding of the CAA Global examination processes and procedures. The Principal Examiner for Module 5 reports to the Chair of the Board of Examiners for the CAA Global qualification and will be responsible for the assessment of Module 5. They will follow the general requirements for Examiners as set out in the Examiners’ Handbook, as well as the specific requirements for CAA Global, Module 5 which are summarised below.

“Task” and “Person” Specification:

“Person” Specification

As the Module 5 Principal Examiner you must be able to demonstrate:

In depth, up to date knowledge related to the subject areas that Module 5 covers Experience and thorough knowledge of relevant exam setting and marking processes Leadership and team management skills, including the ability to build and motivate a team to

deliver the various requirements outlined below within the required timescales. Accurate proof reading skills and attention to detail Strong communication skills Your confirmation that you will be able to use your own PC or laptop with Windows 7

Microsoft Office 2010 or later. You may use a company computer so long as you keep to our guidelines.

“Task” Specification

Exam Setting:

Thoroughly review and comment on all potential exam questions as each is amended and refined by the Item Writers following each stage of the review process. Item Writers will keep an audit account of all the comments received, the responses and the amendments made.

Liaise with the Item Writers and reviewers during the process and at final sign off of the exam. Agree the timetable for submission of draft exam materials (papers, marking schedules and

exam plans) with the Executive Staff and ensure the timetable is adhered to. Lead an annual meeting of the CAA Global Module 5 Examiners to start the exam setting

process Detailed review of the CAA Global Module 5 papers at each stage of the scrutiny process

which will include a face to face scrutiny meeting. Arrangements will be made for examiners based overseas to attend via conference call or video conference

Ensure that each paper set can identify the minimally competent candidate Sign off of the final papers before use

Exam marking including test batch marking

Provide a detailed copy of the marking timetable to the Marking Team and ensure that the deadlines set are met without exception. Although the Principal Examiner is not involved in the routine marking, he/she may need to assist personally if anything goes wrong with the programme laid down. All papers must be double marked.

Run the marking review of five sample scripts, including a meeting with all marking team members and Education Actuary/Head of Learning and Assessment.

Give full consideration in the form of third marking to candidates falling in the borderline area of the pass mark and to candidates with a wide discrepancy between the marks from the two CAA Global Module 5 Markers.

Scrutinise results from Examiners and finalise the pass list. Submit exam results on the agreed spreadsheet by the required deadline date. Provide statistics to the Board of Examiners to allow them to assess the pass mark and the

pass rate. Attend the Board of Examiners results meetings at the end of the marking process. Sign off the pass lists by the required deadline date. Submit examiners’ reports by the required deadline. Ensure standards are maintained between consecutive exam sessions and years

Adhoc duties

Contribute to and sign off on the annual update of:o Syllabus o Website study material (including up to 2 exam papers for publication each year,

each with an Examiners’ Report) Review and improve the exam marking processes, Input to the recruitment and management of Assistant Examiner, Examiners and Item Writers

for CAA Global Module 5 including providing feedback on their performance Attend the annual Examiners’ meeting

Support

Support will be provided by the Executive Staff.

Tenure

The appointment is subject to annual review. The recent announcement of CAA Global does not change the services required for the foreseeable future.

Time Commitment

Exam Setting: The main formal activity takes place from September – January.

There will be communication between the principal Examiner and the Item Writers, culminating in the Scrutiny meeting. The Principal Examiner will need to work on the papers as required by the drafting process.

Exam marking including test batch marking and results: Twice a year April – June and September – November. As the Principal Examiner you will:

Choose the test batch scripts – allow two hours. Chair the test batch marking meeting which should take place no later than seven working

days following the exam – allow approximately four hours for this meeting plus approximately two hours of preparation

Be available for third marking – allow approximately 50/60 minutes per script Ensure that the results are sent to the Online team in accordance with the timetable set –

allow four hours Prepare reports in advance of the Board of Examiners meeting – allow two hours Attendance at the Board of Examiners’ meeting– allow two hours Prepare the Examiners’ report to be published on the website – allow four hours

Ad Hoc duties:

Syllabus and website review – allow half a day, plus a one hour meeting Recruitment assistance – as needed, usually once or twice a year – allow 4 hours when this

is happening Examiners’ meeting – allow half a day

In return, the post-holder will receive:

Feel part of the team contributing to the development of future Certified Actuarial Analysists Personal Development in the education area An in depth understanding of the CAA Global qualification process Networking opportunities with other examiners

Claiming CPD If you intend to use the time spent on this activity when recording your CPD, remember it must be relevant to your work or role and address a personal development need. You should record an appropriate learning outcome. This is in accordance with the CPD Scheme.

This is a PDR role and a fee will be paid.

Professional Development and Responsibility (PDR): In addition to the traditional volunteer roles and tasks which our members undertake each year, there are also a number of other opportunities whereby members can offer to provide “paid” support for a fixed service. These opportunities are not by definition, “volunteering” roles. However, we recognise that the fee paid is nominal and we, as a profession, are therefore extremely grateful to, and reliant on, those members who provide this service to enhance and develop our profession.

November 2016