We have been carrying out a huge listening exercise in the past couple of years to help us transform your IFoA experience.
During the past 12–18 months, this has led to the delivery of more than 15 new initiatives and countless other minor improvements. Initiatives have included online exams, an improved Virtual Learning Environment, a new thought leadership programme and a more user-friendly website. We’ve also been working to make our culture more member-centric, and in our recent employee survey, more than 90% of colleagues agreed or strongly agreed that we put our members at the heart of everything we do.
We need to keep improving and have exciting plans for 2023, including the launch of the digital communities and a new member portal that will make accessing our services simpler. An online examination solution is also in development. We also want to provide value for money; membership fees have fallen for qualified actuaries by 16% in real terms since 2017 and will remain flat for the upcoming year. Many of these things are the culmination of years of hard work; thank you for your patience while they have become visible.
One important area is the IFoA’s role in upholding high standards. Our Regulatory Board has recently published its annual report (bit.ly/3CLCNdb) reflecting its first full year with an increased remit, including responsibility for disciplinary and enforcement matters, and the public interest regulatory aspects of our qualification and admissions frameworks. The report also highlights its regulatory work to enhance transparency and accessibility.
I echo Matt’s sentiments on Chartered Actuary. The benefits are huge, protecting the profession’s status, enhancing the value of IFoA qualifications and standards, and supporting the growth of the profession, so please do cast your vote.
Finally, our next annual member survey launches this month. We want to know what you think about the progress we’ve made and where you are looking for more. I hope you can see that we have been listening, and acting on what you have told us.
Stephen Mann is the chief executive of the Institute and Faculty of Actuaries