Requirements for Obtaining the AES Designation
There are five requirements for obtaining the Automated Examination Specialist (AES) designation. They are:
1. Exam requirements
To qualify for the AES designation, you must have completed, with a passing grade, the AFE1 and AFE2 exams offered by the Society of Financial Examiners. In addition, you must have completed, with a passing grade, the SOFE AES exam and the CISA exam offered by the Information Systems Audit & Control Association (ISACA), the international organization for IT professionals. Visit www.isaca.org for further details.
2. AES Exam requirement
To qualify for the AES designation, you must pass the AES Examination, as administered by the Society of Financial Examiners. The exam is 50 questions with a 180 minute time limit. The passing grade is 74. This examination tests general knowledge of the NAIC's Exhibit C: Evaluation of Controls in Information Technology, Parts 1 and 2. For further information about the Exam, or to register to take the exam please contact SOFE at [email protected]
3. Work-related experience requirements
To qualify for the AES designation, you must be an insurance department employee, or self-employed with a contract for services directly with an insurance department, or be employed with a company that has a contract with a state insurance department.
You must have 3,200 hours as an IT Examiner participating in the NAIC Exhibit C IT examination process, including related IT risk and control procedures. A maximum of 1,600 hours credit towards the experience requirement will be given as follows:
- Holding an active CFE designation from SOFE – 400 hours.
- Holding an active CISA designation from ISACA - 800 hours.
- A Bachelor’s degree in Information Technology - 400 hours
- Master’s degree in Information Technology - 600 hours.
The experience requirement shall be certified by the applicant's direct supervisor, the chief examiner if employed by a state insurance department or by the chief examiner of the state most knowledgeable of the applicant's experience if self- employed.
The accumulated experience is measured by the time dedicated entirely to the preparation and execution of the NAIC Exhibit C IT examination process, including any state cyber-security regulation. The AES application includes an experience spreadsheet detailing such experience. Completion and submission of the spreadsheet indicates the candidate shall be able to produce accurate records of the engagement dates, the names of companies examined, the state(s) for which the work was performed and the name of the Examiner in Charge (EIC), Supervisor, or Departmental Designee of each project.
4. Membership requirements
To qualify for the AES designation, you must be a General Member (or an AFE or CFE) in good standing with the Society of Financial Examiners.
5. Application approval requirements
To receive the AES designation, you must submit an application to SOFE headquarters. Your application must be approved by the AES Committee as meeting all of the above requirements to be eligible to hold the designation. The AES Committee will then recommend it for approval by the Executive Committee. Upon approval by the Executive Committee and notification from SOFE, the designation will become effective. The approval process of a properly completed application is typically six to eight weeks.
If the above requirements have been met, you may apply for the AES designation with the Application for the AES Designation on the SOFE forms page and the IT hours Excel tracking form there that goes with the application.