Council’s third meeting of the sessional year took place on Thursday 5 March.
Council’s third meeting of the sessional year took place on Thursday 5 March.
This was the first Council meeting attended by the IFoA’s new chief executive officer Stephen Mann. We invited him to share his first impressions of the organisation, along with his ambitions for how we can continue to modernise the way we work and the services we provide to members.
Our meeting focused on a number of major milestones on the journey to delivering the new five-year strategy for the IFoA. First, we considered a draft strategic narrative, as well as what we will need to do to successfully realise it – including how work begins in earnest via the IFoA’s Corporate Plan for 2020-2021. We look forward to sharing more on our 2020-2024 strategy with you in the coming months.
Council’s discussions of strategy also encompassed the ongoing work to develop our education and member proposition offerings to ensure that these appropriately reflect the evolving profession and market demand, and the progress made to date in defining our international strategy and related priority areas. We also received an update on our ongoing member value work, which we aim to share with you in the coming months.
Council undertook its annual review of the Policy and Public Affairs Board, which is responsible for the IFoA’s strategic approach to engaging in public policy debates and the IFoA’s relationships with supranational actuarial associations. The review covered both the Board’s work during the past 12 months and the proposed strategic priorities for the IFoA’s policy and public affairs function, which have been developed to align with and help deliver our new strategic direction.
We discussed subscription and practising certificate fee levels for the subscription year 1 October 2020-30 September 2021. These will be confirmed at our next meeting in June and announced to members shortly afterwards.
Council received updates from the chair of our Management Board on the work that Board has carried out in recent months, and from our chief risk officer on current and emerging risks to the IFoA. We also considered an update on the work being undertaken to review our Mutual Recognition Agreements with our partner international actuarial associations, and shared our thoughts on the approach we should take in the future to recognising other associations’ actuarial qualifications. We will keep you updated as this work progresses.
The minutes of our meetings are available at bit.ly/2u1gmx9 and you can contact us at [email protected].