Now that the voting is over for the UK general election, it’s time for actuaries to think about elections to the Council of the Institute and Faculty of Actuaries (if they haven’t already). There are 18 people standing for 8 seats in the General Constituency, and I’m one of them – and this is why.
I’ve been a volunteer for the Actuarial Profession for many years, since joining the Committee of the SIAS in 1999. Since then, I have presented at sessional meetings and at actuarial conferences in the UK and overseas. I’ve also written a number of articles that have been published in actuarial journals, the Actuary magazine and elsewhere. In addition, I helped to develop the structure and content of the Enterprise Risk Management subject (ST9), for which I also wrote a textbook – and I currently serve as principal examiner for this subject. I have also re-joined the SIAS Committee, having been appointed Chair last year. So I have a good feel for the state of the profession, its strengths – and its weaknesses.
In addition to my Fellowship of the Institute and Faculty of Actuaries, I am also a CFA Charterholder, a Fellow of the Chartered Institute for Securities and Investments and a Fellow of the Royal Statistical Society. Membership of these organisations has given me insight into the different ways that a professional body can serve its members. This experience would also be useful if I were to be re-elected to Council.
I say “re-elected” because I have been a Council Member before, for both the Institute of Actuaries, and the Institute and Faculty of Actuaries. The reason that I am standing for election again is because I believe that this is a critical time for the Actuarial Profession. Change in the financial services industry is accelerating. As a result, actuarial roles that once looked secure now appear more at risk than ever. As actuaries, we need to show that we can add value in areas outside what we consider our core disciplines. Some actuaries are already doing this, but I believe that the Institute and Faculty of Actuaries should be doing more to facilitate this change. This should include appropriate education, but also greater engagement with non-actuaries already working in areas where actuaries could help.
We are already doing this in some areas – mortality and longevity analysis is a good example – but the Profession needs to do this more broadly. And if I am elected to Council, I will work to make this happen.
Members of the Institute and Faculty of Actuaries can vote at ersvotes.com/ifoa. In addition, emails containing details of how to vote have been sent to members from firstname.lastname@example.org.