Statutes of the Association

The Deutsche Aktuarvereinigung e.V. (DAV, German Association of Actuaries), its branch association Institut der Versicherungsmathematischen Sachverständigen für Altersversorgung e.V. (IVS, Institute of Pension Actuaries) and its scientific sister organisation Deutsche Gesellschaft für Versicherungs- und Finanzmathematik e.V. (DGVFM, German Society for Insurance and Financial Mathematics) are organised as registered associations. The current statutes of the three associations contain details of the internal organisation and the rights and obligations of members.

The Examination Regulations of DAV and IVS

Examination Regulation No 5 stipulates that eight examinations must be passed to qualify for membership of the DAV and the title “Actuary DAV”. These include six basic knowledge examinations and two compulsory seminars on professionalism and communication, which are the same for all participants in the education system, as well as two examinations in the specialised knowledge subject of their choice. For admission to the DAV, at least three years of professional experience must also be demonstrated, of which at least two years must be in the chosen specialism.

Membership of the Institute of Pension Actuaries (IVS), the branch association of the DAV, requires both membership of the DAV and proof of professional aptitude - to be provided via four specific examinations.

In addition, the association offers members additional training to become a “Certified Actuarial Data Scientist (CADS)” and a “Certified Enterprise Risk Actuary (CERA)”.

The three examination regulations and the professional practice regulations are supplemented by the regulations for recognising actuarial education completed abroad (on the basis of a mutual recognition agreement). Recognition agreements currently exist with the actuarial associations that are members of the European Actuarial Association AAE, i.e. Belgium, Bulgaria, Denmark, Estonia, Finland, France, Greece, Great Britain, Ireland, Iceland, Italy, Croatia, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Austria, Poland, Portugal, Romania, Sweden, Switzerland, Slovakia, Slovenia, Spain, the Czech Republic, Turkey, Hungary and Cyprus, as well as with South Africa.

Fundaments of the Profession

By joining the DAV, members undertake to comply with the DAV's Code of Professional Conduct, which ensures that actuaries act in a professionally impeccable and uniform manner in the interests of the profession and the general public, as well as ensuring the trust of clients and the reputation of actuaries in the public eye. These professional standards of conduct are intended to help ensure the independence, objectivity, professional competence and integrity of actuaries in the performance of their professional activities. The Code of Professional Conduct applies equally to members of the IVS.

Standards of Practice are publications of the DAV and IVS in which - together with the Code of Professional Conduct - the principles for the proper exercise of actuarial activities are laid down. Standards of practice are characterised by the fact that

• they deal with specialised actuarial issues
• they are of fundamental and practical importance for actuaries,
• they are legitimised by the profession through a due process that allows all actuaries to participate, and
• their proper use by members is safeguarded by a disciplinary procedure.

Before a paper can enter into force as a standard of practice, it undergoes a multi-stage approval process.

A distinction must be made between standards of practice and the results reports, which are prepared and adopted by the individual DAV committees. They serve in particular to inform the members of the DAV and IVS and to promote professional discussion.

In the event of a breach of the code of conduct or standards of practice by the actuaries, the disciplinary regulations, which are in line with international practice, apply. A member against whom a disciplinary penalty has been imposed may appeal against this to the DAV Board in accordance with the applicable statutes. If the Board does not allow the appeal, a final decision will be made by an Appeals Committee, which works on the basis of an Appeals Code.

Professional Regulations comprise all publications of the DAV in which the requirements for acquiring and maintaining membership in the association and the principles for the proper exercise of the activities of actuaries are laid down. For a membership association that wants to maintain and cultivate a community of actuaries through transparency, communication and intensive participation of members in the association's decision-making processes, it is essential to have common procedural rules on how these regulations are created and further developed, i.e. how these professional regulations are determined.

Continuous Professional Development in DAV

Actuaries in the DAV have committed themselves to CPD and are therefore responsible for maintaining the current level of knowledge required for their professional practice through appropriate continuing education. The DAV maintains a CPD directory for all members who have undergone continuing education and have consented to the publication of their name. If you would like to find out whether a member fulfils the DAV's CPD requirements, you can check this on the Profession page.

The CPD regulations concretise the obligation laid down in the Statutes of association and the code of professional conduct with regard to the minimum scope and documentation of personal CPD and are supplemented by an accreditation guideline and a tutor guideline.

Membership Information

Further regulations on membership of the DAV, DGVFM or IVS concern

• the awarding of honorary memberships in the DAV
• the readmission of members to the DAV
• DAV and IVS membership fee information, including an application for a reduction
• the DGVFM membership fee regulations, including applications for membership
• the regulations on the use of the IVS stamp.

Collaboration in the Association

Around 850 members put their professional expertise as actuaries at the service of the association and develop it further by working on key topics and issues for the profession in the specialist committees and associated working groups. Supplementary regulations for committee work are

• a guideline for committee work
• instructions for the preparation of results reports and standards of practice
• the travel expenses regulations of the DAV, DGVFM and IVS.