Welcome to our bulletin bringing you the latest news from the IFoAs Council, which we hope helps keep you informed about what we are doing and the issues we are thinking about.
Welcome to our bulletin bringing you the latest news from the IFoA's Council, which we hope helps keep you informed about what we are doing and the issues we are thinking about.
For the first time, we held a Council meeting across the dual locations of London and Hong Kong (see report, p6). In future, we intend to hold one Council meeting each year outside the UK.
A prime focus for the Council remains the long-term strategy for the IFoA's qualification framework. Unsurprisingly for a subject so close to all our hearts, the Council debate was lively.
We considered five questions in particular, each broadly with the objective of diversifying and continuing to strengthen the framework to help preserve the future of our profession in a changing world. Further activity is planned to continue to explore proposals and consult where appropriate.
Our regulatory strategy also remains a crucial part of our agenda, with Council discussing proposals regarding the future of actuarial regulation.
Separately, we considered some key strategic governance projects. Firstly, we debated Council's own composition. Work will continue on this project over the coming year as we have the opportunity to see the impact of measures already introduced - for example, some of you may have noticed that this year we introduced a steer from Council to encourage certain members to stand for election. Secondly, in a project led by the chair of the management board, Alan Whalley, we considered the appropriateness of the governance structure below the management board. The project is at an early stage and will involve considerable consultation with relevant stakeholders throughout the rest of the year.
As part of our annual cycle, we heard from the chairs of both the Audit and Risk Committee and the Research and Thought Leadership Committee (RTLC). The RTLC is continuing to explore funding avenues for research, as well as the development and dissemination of research relevant to users and industry. Council also considered and approved the subscription rate for the forthcoming year.
As we have now had our last formal meeting of the year, the IFoA extends its special thanks to the president, Colin Wilson, for his chairmanship of the Council and contribution to the IFoA.
We also wish to thank our immediate past-president, Fiona Morrison, for her dedication to the IFoA and Council over her three years as a member of the presidential team.
Lastly, our best wishes go to our retiring members of Council, who have each made an important contribution to the Council's success.
Further information on the IFoA Council
The first meeting of the next Council session was held on 4 July in London, when the new president Marjorie Ngwenya took up the post as Council chair.
The Council's future agenda and minutes are available on the IFoA's website for those wishing to read more.
Should you have any questions or comments relating to this publication, the Council and its activities, or the IFoA's governance, please contact our corporate secretary, Kimberley Russell, at: [email protected]