When we launched the IFoA’s new five-year strategy, we knew our success would hinge on ensuring that our members were at the forefront of all that we do, and that our culture (‘the way we do things’) had this as second nature.
Our progress during the past year reflects that aim, for example in: our operational response to the pandemic, including putting events and examinations online; the cementing of our member propositions; getting out and listening to what our employers and members want and need; and our focus on shifting our culture and how we operate.
The IFoA’s purpose is our shared ‘why’ – our reason for being. Our new values, which accompany and underpin that purpose, are our ‘how’ – the way our shared vision comes to life through our volunteers and colleagues. These are:
- Member-focused – we put members at the heart of everything we do
- Action-oriented – we work hard, we work smart and we take pride in getting things done, valuing action over perfection
- Forward and outward-looking – we’re always looking to be bold and improve, innovate and take the next step
- Team-driven – we work in partnership, advancing together as one IFoA.
As these came together late last year, I was and remain very excited by the impact these will have, especially when you put them all together. They provide a real anchor for our cultural transformation, and you have my commitment that these words will not simply be given a little bit of profile before being forgotten. The mark of an established culture and values is that it is instantly recognisable without needing to be spoken or prompted. I know we have work to do to shift perceptions in some areas, and, of course, we will not get everything right. I also know that if our members start sharing sentiments about the IFoA that chime with these new values, we will be on our way.
Stephen Mann is the chief executive of the Institute and Faculty of Actuaries