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The Actuary The magazine of the Institute & Faculty of Actuaries

IFoA call for financial sector professionalism

The Institute and Faculty of Actuaries (IFoA) have challenged the financial services sector to uphold the highest of standards by launching a series of professionalism lectures across 2017.

Importance of standards in financial services "has never been greater" ©Shutterstock
Importance of standards in financial services "has never been greater" ©Shutterstock

These are intended to cover a number of themes such as whistleblowing, disclosure, integrity, enforcement, organisational culture, and regulatory fairness and relevance.

The first lecture of the series took place last night, concluding that financial services professionals must be bold and fair in pursuing professional standards and values – speaking out when principles are not being observed.

IFoA general counsel, Ben Kemp, said: “There are challenges to all professions, but I believe the value and importance of standards and ethics in the world of financial services has never been greater. 

“As a professional body, operating in the public interest within a global context, the IFoA is delighted to launch our Professionalism Lecture Series 2017.

“Over the coming months we will have the privilege of hearing from a number of expert speakers illuminating the key concepts and issues in relations to professionalism in financial services.”

These lectures will be delivered by a diverse group of speakers representing academia, regulators and businesses, covering a plethora of professionalism-related subjects in the UK and across the globe.

The IFoA believes that collaboration is the key to maintaining the highest standards across financial services, with the institute an industry leader in ensuring quality of work and values through its Quality Assurance Scheme (QAS).

IFoA president, Colin Wilson, said: “The IFoA leads the way in promoting professionalism in the actuarial profession and beyond.

“I am proud of the record of the IFoA in promoting best practice amongst its members, and of the oversight it provides.

“It is my hope that the professionalism lecture series will contribute to maintaining our high standards amongst actuaries, and act as an example of innovation in professional culture across the financial services world.”

The next lecture will be taking place on 27 March in Kuala Lumpur, Malaysia. For further information on the lecture series, please contact regulation@actuaries.org.uk.

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