An Actuary’s
Journey
24 July 2025
Agenda
Actuary’s Fact Sheet
Journey Summary
Skills for Success
Career Tracks
Recent Challenges
Examination Requirements
86
Interesting Facts
Fellows
No. of Fellows in the
Actuarial Society of the
Philippines
182
Associates
No. of Associates in the
Actuarial Society of the
Philippines
207
Affiliates
No. of Affiliates in the
Actuarial Society of the
Philippines
ASP
Actuarial Society of the
Philippines (ASP)
Recognized actuarial
professional organization;
member of IAA (International
Actuarial Association)
55%-65% /40%-50%
Actuarial Society of the
Philippines
Average passing rate of ASP
associateship exams /
fellowship exams
3rd
STEM jobs ranking by
salary
Aircraft Pilots and Software
Engineers / Specialist
Medical Practitioners rank 1st
and 2 nd
An Actuary’s Journey
Automatic promotions
after completion of
preliminary, associateship,
fellowship exams
Exam increase range
from 3k-7.5k; job
rotation
Current level; 3/7
prelim exams offered
as undergrad subjects
in DLSU, Ateneo, UST
7 preliminary ASP
exams; 1st take exam fee
covered; study time
provided
Achieve Associateship
(AASP/ASA)
Gain work experience
Take
ASP/SoA
Preliminary Exams
Education
and
Early Preparation
Average exam travel time: 7 to 9 years
Senior
Actuary/Consultant/
Executive position
guaranteed
Advance to Fellowship
(FASP/FSA)
Skills for Success
Pre/Junior-Fellow
Pre/Post-Associate
•
Mathematics and Statistical Skills
•
Problem-Solving Abilities
•
Programming
•
Business and Financial Acumen
•
Specialized Sector Knowledge
•
Communication and Collaboration
•
Attention to Details
•
Initiative
Pre/Junior-Fellow
•
Independent Project Delivery/Ownership
•
Critical Thinking
•
Data Visualization
•
Stakeholder Engagement/Mentorship
Potential
Senior Fellow/Executive
•
Strategic and Analytical Mastery
(ERM/Capital Optimization/Regulatory
Expertise)
•
Technical and Financial Acumen
•
Complex Actuarial/Risk Modeling
(Advanced Actuarial Modeling, Financial
•
Regulatory Knowledge
Reporting Leadership, Investment
•
Strategic Business Acumen/Financial
Strategy Alignment)
Reporting/Product Development Insight
•
Executive Communication and Influence
•
Leadership and Organizational Impact
Insurance (Life/NonLife P&C/Health)
Pensions and
Retirement Financing
Enterprise Risk
Management
Career Tracks
Diverse career paths await the actuary – from
traditional roles in insurance and pension to new
fields, e.g. data science, quantitative finance,
enterprise risk management. Opportunities open for
leadership roles and consulting.
Other nontrad/noninsurance
Banking and
Investments
With acquired modeling expertise coupled with
adaptability skills in fast-evolving sectors, e.g.
AI/technology, an actuary’s role continues to expand
and gain relevance in non-insurance fields.
Data Science
Reinsurance
Data quality and complexity
Technological adaptation and mindset
barriers toward innovation
Current
Challenges
Regulatory pressure and compliance
Balancing speed and accuracy under
tight deadlines
Skillset evolution
Keeping up with industry evolution and
expanding roles
All SOA Preliminary Exams
Associateship
VEE Requirements
ASP Seminar
SOA Fundamentals of Actuarial Practice
FSA ERM M odule
ASP Exam
Requirements
Any of the following SoA M odules
Fellowship
Exam P: Probability
Exam FM: Financial Mathematics
Exam STAM: Short-Term Actuarial Models
Exam LTAM: Long-Term Actuarial Models
Exam IFM: Investment and Financial Markets
Exam SRM: Statistics for Risk Modeling*
Exam PA: Predictive Analysis*
Mathematical Statistics
Accounting and Finance
Economics
Basic Non-Life Course**
AAS: Associateship Admission Session
FAP Interim Assessment
FAP Final Assessment
Enterprise Risk Management Module
Introduction to Corporate Finance and ERM
(CFE)
Financial Modelling Module
Introduction to ILA Module
Pension Projections Module
Health Economics Module
Financial Economics Module
Any among FCASExams 7 to 9 different from that
taken in ASP Fellowship Exams
QFI Core Exam or QFI Advanced Exam
Life Pricing Exam
Strategic Decision Making Exam
Foundations of Corporate Finance & ERM Exam
One (1) SOA (Core or Advanced) /CAS
Fellowship Exam
All ASP Fellowship Exams
ASP Seminar
Life Finance and Valuation Exam
Group & Health Core Exam or Group & Health
Advanced Exam
Introduction to Ratemaking & Reserving Exam
FCASExam 5, 7, 8 or 9
Design & Accounting Exam (Retirement Benefit
Track)
Financial & Regulatory Environment Exam
(General Insurance Track)
ASP Integrated Exam I
ASP Integrated Exam II
FAS: Fellowship Admission Session
WHY?
A
Adaptive
U
Ability to recalibrate/pivot
with changes. Evolve.
Grasp complex concepts and explain
with clarity and confidence
A
C
Continuous Learning
Passion for learning propels growth
and self-improvement
T
Trend-observant
From commercial, market, financial,
risk trends to technology, climate
and ESG trends.
Understanding
Articulate
R
Resilience
Navigate high-pressure
remain focused when
arise.
Y
situations;
challenges
Yield-driven
Value-add outcomes and impactful
results
are
your
ultimate
contributions
“The journey of an actuary is a
path of calculated risks,
relentless learning, and
steadfast resilience, where
numbers tell stories and insight
shapes tomorrow.”
Q&A