CPD

Continuing professional development (CPD) is a means of staying up to date with market activity, changes in legislation and practice, changes in areas of specialisation, or simply to study further in fields related to your market or interests.

As a professional industry with professional designations we need to guard our profession jealously and commit to maintaining a standard of knowledge and professional currency.

CPD is a requirement for all professional members of the financial services industry, according to the various professional bodies across the industry.

The IISA requirement for professional members is 15 hours per year (1 July to 30 June).

There are many ways to accumulate CPD hours. Self study, reading, authoring papers, delivering lectures or attending conferences (including the IISA Annual Insurance Conference), lectures or presentations are just some of the ways in which members can develop.

Our CPD calendar of events lists events that take place throughout the year where members can gain CPD hours. These events include conferences, seminars, courses and workshops. The calendar is updated regularly as events are planned.

Members are invited to submit requests for CPD recognition if:

  • An article you have authored has been published, with a list of hours spent and resources used
  • You update or write any learning material relating to the industry (submit the title of the material), with a list of hours spent and resources used
  • You deliver any lectures or presentations on industry-related topics (submit the agenda), with a list of hours spent and resources used
  • You form part of any industry committees (submit the front page of the minutes indicating your attendance at the meeting), and the agenda of the meeting

Include supporting documentation where relevant as well as a summary of your time spent so that we can evaluate the relevant CPD recognition.

Costs

Discounts are available to IISA members on the cost of certain events.

The critical issue when considering the costs is to ensure that you choose the activities most relevant to you, as not all CPD activities require a registration fee.

Some companies have registered their internal and external training programmes as CPD activities. These companies carry the costs of this training.

Recording CPD activity

All of the companies organizing and providing approved CPD activities are required to register your attendance, using your signature and ID number (which is also verified at the time of your attendance) at the event for verification purposes. After the event it is the organiser’s responsibility to provide the IISA with a copy of the attendance register, with each person’s ID number, signature and email address.

As a rule of thumb, if you’re a member of IISA and FPI you should submit your long-term activities to the FPI and short-term to the IISA, unless otherwise arranged. However, if you are a dual member, IISA is happy to evaluate all your submissions – short-term, long-term or general – as some may generate CPD hours for both IISA and FPI.

If you’re a member of IISA and CII, you may submit any CII CPD activities to the IISA for evaluation.

For compliance purposes, paid-up professional members have free access to their CPD records. Non-members may be asked for a nominal fee to access their CPD records.

Company reporting is available on request.

Recording of studies for CPD purposes

Confidentiality laws prohibit educational institutions from providing the IISA with individual records. Please submit your statement of results to us for CPD purposes.

Note:
The consequences of not reaching your CPD targets in a year can be significant, both to individuals and the organisations they work for.

For professional members, your designation may be revoked, which has an unintended regulatory impact on the license in terms of honesty and integrity. Non-members of professional bodies who are registered with the FSB are likely to face debarment for not fulfilling CPD requirements.