Abstract:

The actuarial profession is relevant in the insurance, finance and social welfare industry and therefore has a high impact on society. Proof of this is that in Spain it is a regulated profession with several reserved activities in the legal system.

Its training requires the acquisition of both theoretical knowledge and professional skills and abilities under a multidisciplinary vision. Given the relevance of its functions, the supranational associations formed by the national professional associations that give access to and order the exercise of the profession agree on the basic study programs. Those requirements are in the Syllabus.

On the other hand, there are international certifications that accredit specific training in specific areas, such as in financial institutions, in order to reduce exposure to operational risk of human factors.

The aim of the project presented is to include these circumstances in the training of students in the University Master's Degree in Actuarial Science and Finance, offered at the Universities of Malaga and the Basque Country.

The project identifies the theoretical content and the competencies and skills of the basic syllabuses established by the International Actuarial Association (IAA) and the Actuarial Association of Europe (AAE). This project is applied in the courses Analysis of Financial Operations and Investments II, Methods and Models of Calculation for Actuarial Applications and Valuation of Derivatives Financial Instruments at the University of Malaga, as well as in the courses Financial Mathematics: Risks and Derivatives and Management of Assets and Liabilities of the Insurance industry at the University of the Basque Country. In addition, several professors have moved to the host universities through different mobility programs in order to interact with the professors who teach the subjects in those universities, exchange experiences and teaching materials and give classes to the students of the host university.

Finally, also has been established a correspondence between these subjects, the Syllabus of the IAA and AAE and the Certified Enterprise Risk Actuary (CERA) and Financial Risk Manager (FRM) certifications, which are widely recognized in the insurance and financial sectors.

Keywords:

Actuarial, Core Syllabus, Curriculum Design and Development, University Networks, Exchange and Mobility Programmes.