Competency Framework for New Academy Members

The purpose of the Academy’s Competency Framework is to specify the knowledge required of a new Academy member regarding General Actuarial Topics, U.S. Laws and Practices, and U.S. Actuarial Professionalism.

In general, a competency framework lays out the knowledge required to effectively perform a specific role, job, or profession; in this case, to become a member of the American Academy of Actuaries. The Academy’s Framework outlines the topic areas in which new members must have acquired basic familiarity and foundational knowledge to succeed in their roles.

This Framework is expected to be modified periodically. The latest Competency Framework was approved by the Board at the January 2023 Board meeting (editorial changes were approved in October 2023 with further editorial changes made in June 2024 by the Membership Requirements Subcommittee).

What is the American Academy of Actuaries’ Competency Framework? 

As the U.S. national actuarial association, the American Academy of Actuaries has formalized a framework to describe the skills, abilities, and knowledge expected of future Academy members. Current Academy members will be able to use this framework to focus their own continuing education experience as well as coach prospective members on what it takes to become an Academy member.

How will the Competency Framework be used? 

The adoption of the Competency Framework will enable the Academy to address the ever-changing expectations, demands, and needs of actuaries practicing in the United States. The Academy will use the Framework to evaluate future candidates for membership.

The Academy published this baseline model to help U.S. actuaries understand the competencies required of a new Academy member as well as guide the Academy in developing additional educational resources for actuaries practicing in the U.S.

To whom does the Competency Framework apply?

The Competency Framework is to be used by prospective Academy members to help guide them as they evaluate their competencies before applying for Academy membership. The adoption of the Competency Framework does not change the membership status of current Academy members.

How often will the Competency Framework be updated? 

The Academy will review the framework regularly and update it as needed.

If I have feedback on the Competency Framework, who do I contact?

We encourage all Academy members to read and understand the information in the Competency Framework—and to understand it is not a static document—so we request feedback. This feedback should be submitted using the Academy’s member support form.

When will the Academy’s member requirements reflect the use of the Competency Framework for determining membership in the Academy?

Academy member requirements will begin referencing the Competency Framework as of Jan. 1, 2026. More information on the changes taking place then will be forthcoming. However, in the interim and effective immediately, the Competency Framework will guide the development of the Academy’s educational resources across various Academy channels and be used to evaluate the actuarial credentials we accept for Academy membership.