Between 15 November and 13 December, all qualified members will be asked to vote on adopting ‘Chartered Actuary’ designations: Chartered Actuary (Fellow) and Chartered Actuary (Associate).
The IFoA believes that this will protect the status of the title ‘actuary’, increase recognition of the level of qualification actuaries have achieved, and support the future growth of the profession.
Here five members tell us why they are supporting the proposal to move to Chartered Actuary.
Senior risk director, China Re
Being a Fellow or Associate of the IFoA is very renowned in China – not just because of the wide range of subjects that need to be passed, but because it also requires sharp business sense and other soft skills. Chartered Actuary will show that we have the qualities required to do that role. It shows the competence and integrity that is needed to manage the risks in this changing world. It shows the legacy carried forward from the world’s oldest actuarial organisation, and that we are sincerely trying to do the right thing to serve the public interest.
Director, Sustainable Finance, EY
Adding Chartered status to our qualifications will make them even more attractive in the highly competitive global financial services market in which actuaries work. It will also help to encourage the recruitment of actuaries into wider fields, including sustainability, which is rapidly becoming an important skillset for actuaries to have if they are to remain relevant.
Non-executive director and president of the IFoA, 2019/20
Introducing the Chartered Actuary title will only be good for the profession. Reinforcing the Associate qualification as a desirable destination will help the profession compete for new graduates. And, as a Fellow myself, I don’t foresee that it will undermine existing Fellows: employers that value Fellows will continue to do so. Moreover, I can look forward to belonging to a profession that remains dynamic as it becomes more attractive to new graduates.
Non-executive director and president of the IFoA, 2017/18
Why do I support Chartered Actuary? During my term as president, the IFoA consulted with members on the Chartered Actuary proposal. Chartered is an internationally recognised term that will enhance our already respected title. This change will also recognise more prominently the Associate qualification. That’s why I’ll be voting ‘Yes’ to Chartered Actuary.
Chief investment officer, Connected Asset Management
I support the Chartered Actuary proposal because it will help improve the brand of qualified actuaries both in the UK and around the world. Most people are amazed when they find out that the word ‘actuary’ is not protected – anyone can call themselves an actuary, regardless of whether they’re qualified or not. Putting ‘Chartered’ in front of ‘actuary’ protects us and will ensure that no one can take advantage of our great name or bring our profession into disrepute. I think it’s also an important stepping stone towards a profession that really values the general skillset in a variety of business contexts. We need to get Chartered actuaries out into wider domains, where they can help address many societal issues, from climate change to artificial intelligence and many points in between. For me, the Chartered Actuary proposal is a positive move and I’m hopeful we can get a good turnout to show we’re ready to face the future.
The vote runs from 15 November to 13 December. Whichever way you vote, it’s important to have your say, so please do cast your vote.