South Africa-based Marjorie Ngwenya has today been named as the next president of the Institute and Faculty of Actuaries (IFoA).
She becomes the first president based outside the UK and takes over from Colin Wilson after holding the position of president-elect for the last year.
"The world we live in is changing fast and I am honoured to be leading the IFoA at such an exciting and challenging time," Ngwenya said. "Around half of our members are based abroad and the overseas contingent continues to grow.
"It's great to see this organisation pushing boundaries on a global scale. Our profession is increasingly diverse which makes my role as the first president based outside the UK all the more relevant."
The president is a volunteer role held by a fellow or associate of the IFoA, and is a three-year commitment, with the elected candidate assuming the role of president-elect, president, and immediate past president, sequentially.
Handover took place today at the IFoA's Annual General Meeting, at the Staple Inn Hall, London, where Ngwenya gave her presidential address.
"Actuaries face the challenge of changing their focus to one that is less concerned with analysis of data, but more focused on the insights to be gained from that data," she said.
"Our skills give us a natural edge - an ability to understand and interpret the interactions of complex changes.
"So the value and insight that actuaries can bring is needed now more than ever before. During my tenure, I will continue to advance the profession - promoting the relevance of actuarial skills and our ability to adapt and innovate."
Ngwenya has extensive experience in risk management, consulting and reinsurance after qualifying as a fellow in 2006, and was editor of The Actuary magazine for three years until the end of 2011.
She has served for four years as a member of the IFoA's Audit and Risk Committee, is a member of the institute's Management Board and is a trustee of the Legal Resources Trust in South Africa.
IFoA chief executive Derek Cribb, said: "I would like to congratulate Marjorie as she becomes the next president. Her global vision and ability to see beyond traditional borders will be a great asset to this organisation.
"Marjorie will be instrumental in continuing to develop our international reach, ensuring our relevance, and engaging members and stakeholders wherever they are based."