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The Actuary The magazine of the Institute & Faculty of Actuaries

An eventful twelve months for the Scottish board

The Scottish board has just reviewed its first year, following the merger of the Institute and Faculty. Activities to meet the board’s aims have been many and varied.

A series of events took place in Scotland, including sessional research events. We have pioneered pre-sessional meetings for younger members and renewed liaison with the two students’ societies (FASS and GASS) and the group aimed at younger members (‘Our Changing Future’). There has been co-ordination, via Heriot-Watt University, with the brand new Scottish Financial Risk Academy (SFRA). We are very proud to be one of its founder members and look forward to their third Colloquium on Solvency II on 28 September. We also look forward to hosting the prestigious lecture organised by the Institute and Faculty in Edinburgh on 10 October, to be given by Sir Harry Burns, Scotland’s chief medical officer. The Board is entrusted with overseeing the use of a £500,000 endowment. Principles for its use have been drawn up and proposals are being considered. These currently include the exciting prospect of a Scottish Actuarial Research Centre. The Board is seeking to establish a legacy of high-quality actuarial research. We welcome proposals from the wider Scottish constituency. More details will appear on our area of the website and via our e-newsletters.

Our Charitable Trust Fund has established prizes and awards ranging from encouraging high-quality papers and presentations from younger members to encouraging school pupils in mathematics.

A sub-group is working with the Profession’s public affairs team to develop a customised programme to identify and take forward specifically Scottish elements within the Profession’s active public affairs strategy. This includes interaction with influential parties in Scotland, including MSPs.

At its meeting on 29 June, the board thanked its first leader, Gordon Bagot, for all his work. Gordon has stepped down and I am now honoured to take on the role of leader, with Keith Miller as deputy. Martin Potter was welcomed as a new member of the board following his election to Council. Gordon Wood and Alan Watson were both re-elected to Council and will continue on the board.

All members of the Profession are invited to join the new Scottish Constituency Community on the Profession’s website at http://tinyurl.com/6c547sb

Contact details, discussion threads, details of our eight key responsibilities and a fuller report on the year’s activities, can be found there.