Group-think and herd-like mentality

The IFoA Regulation Board is working with other UK regulators (the Financial Reporting Council, Prudential Regulation Authority, Pensions Regulator and Financial Conduct Authority) to conduct a series of thematic reviews following a recent consultation exercise to identify a collection of risks that affect the actuarial profession; the Risk Perspective (bit.ly/1NBFmkJ) and output of the Risk Perspective (bit.ly/1ZuXYqp).

A number of risks were identified during that exercise, and one raised frequently was 'group think'. We are looking at this risk in more detail and would be interested in your views. For the purpose of the review, we define the risk as the tendency for one's judgment to be influenced by the apparent consensus view of assumptions, methods, processes or approaches.

If you are interested, please email [email protected] by 20 November