The IFoA’s VSMD (Vision, Skillset, Mindset and Domains) strategy is motivated by two impulses.
- Responding to the challenges and opportunities of the digital and Fourth Industrial Revolution. This means modernising and widening our skillsets, being multi-disciplinary in our approach to problem solving and achieving a greater diversity of mindsets.
- Being bolder and more imaginative in speaking up on the great sustainability challenges of our time, including the COVID-19 pandemic, climate risk and the dysfunctionality of our investment, regulatory, health and income security systems.
To address the first aspect, we have already started wide-ranging reforms to our educational offering and begun changing our approach to lifelong learning in its widest sense.
On the second aspect, we have been much more proactive in speaking about our era’s matters of great consequence – COVID-19, climate risk and our regulatory systems. In January alone, IFoA actuaries have been quoted in all of the major national papers in the UK, as well as the BBC, Sky News and CNN, concerning vaccination rollout and when we can return to normality.
Recently, the leadership of the IFoA refreshed our purpose for the organisation – “to be the voice of actuaries, and to support, develop and be the voice of our members.”
To do this effectively, we need a cultural transformation of the IFoA. This is about having a leadership team and organisational values that support a member-centric and action-oriented culture; about being outward-looking and passionate; about building a high-performing team rooted in mutual trust and respect. This is
a critical mission led by Stephen Mann. But it is the duty of us all, especially senior volunteers on Council and Boards, to set the tone, providing support and demonstrating exemplary leadership.
This is an exciting time for the IFoA and the profession – which means you. It means all of us.
The best is yet to come!
Tan Suee Chieh is the president of the Institute and Faculty of Actuaries
