Program On Actuary Qualification Implemented By USAID And RA Central

PROGRAM ON ACTUARY QUALIFICATION IMPLEMENTED BY USAID AND RA CENTRAL BANK WRAPPED UP

ARMENPRESS
JULY 29, 2010
YEREVAN

YEREVAN, JULY 29, ARMENPRESS: Supporting the Central Bank, in
collaboration with the British Actuarial Profession Association
and within the program on financial development, the US Agency for
International Development (USAID) has implemented in Armenia a program
on actuary qualification. Today the ceremony of handing graduation
certificates was held. The implementation of the program was assumed
in October 2009 by the Development Program on Human and Institutional
Capacity implemented by the Educational Development Academy.

The program on qualification of actuaries consisted of 2 ingredients
– basic and deepened. The majority of the educational classes were
conducted according to the quality standards of the Great Britain. The
classes finished with qualification exams. Eight students finished
the deepened courses and over a dozen – the basic. Director of the
USAID Armenia Office Jatinder Chima, Deputy Chairman of the Central
bank Vache Gabrielyan and other high ranking officials were present
at the ceremony. As a result of the joint work with the British
Institute of Actuaries the participants of the educational courses
will have an opportunity to work in a financial field, particularly,
in insurance companies.

“This professional qualification must not be confused with the
education of higher educational establishments, both are very
important, but pursue different goals,” the Deputy Chairman of the
Central Bank noted, adding that the specialists of the sphere have
conveyed to the participants knowledge corresponding to the intended
standards.

Director of the USAID Armenia mission Jatinder Chima highly assessed
the support displayed by the Yerevan State University and Central
Bank, noting that the profession is of great significance for Armenia,
and the educational program has been implemented at a high level. J.

Chima congratulated the participants wishing them success in
their career. Director of the Armenia office of the US Academy for
Educational Development Anush Yedigaryan presented the prehistory of
the program, it became clear that the basic class started in May 2008
and finished in February 2009.

The second round of the program and the first rounds of the deepened
classes were held from February 2009 to July 2010. The graduates of
the basic qualification classes can be patented by the Central Bank
as responsible actuaries of insurance companies. The program has
simultaneously afforded an opportunity to implement other actuary
works in banks, in pensionary funds, state and commercial structures.

From: A. Papazian

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