When the IFoA was formed in 2010, our two predecessor bodies agreed the governance arrangements that we retain today: an elected governing Council, a Management Board that bridges our organisation’s strategy and operations, and an Executive that advances the IFoA day by day.
Add on committees, practice boards, working parties and others, and we have a large group of well-intentioned, dedicated leaders. However, this is also a group whose visions and desires sometimes conflict. The system brings both challenges and opportunities.
Council has decided it’s time to consider the system that will lead us into the future, and has instigated a comprehensive governance review with that aim. As president, I have heard from those who take comfort in our community and prioritise the connections they have made. I have heard from those who love the IFoA’s ambitious aspirations and pour their energy into securing our future. We must consider what kind of leadership structure and culture will reflect our common aims and support future generations.
This structure and culture must serve our members’ diverse wants and needs. It needs to reflect our purpose and values, strategic direction, public interest role and accountabilities, and commitment to diversity and inclusion. It should reinforce our ambition to be not just a leading professional body, but a leading global body, growing in influence and scale. Our governance must enable all these things.
Each member’s vision for how these aims should come to life will be as unique as their contribution to the IFoA. Along with Council, I look forward to recognising the IFoA’s rich history, considering its future opportunities and charting a course for our governance that will serve our members, our organisation and our profession well into the future.
Matt Saker is the president of the Institute and Faculty of Actuaries
